class 12 macro-economics Notes
Macroeconomics....... short and easy notes for the board exam
> macro means large, it is also a Greek word Makro. It deals with aggregates such as National income, aggregate demand, aggregate supply, and general price level.
Following and its characteristics;
- It deals with the Macro unit of the economy.
- Macroeconomics study the policy related to the whole.
- It studies macro variables.
- Its important tools are fiscal policy, monetary policy, and income policy.
- It is also known as income and employment theory.
2.Write the importance of macroeconomics.
> following are its main importance;
- Macroeconomics essential for the formulation of various economic policies.
- Macroeconomics help in providing basic raw material in the study of economic growth.
- Consumption in an economy studies to calculate the economic growth of the nation.
- All policies are framed by the government on the basis of macroeconomics.
- International comparisons are possible under macroeconomics.
3. What do you mean by consumption goods?
> Consumption goods are those which are out and used by consumers for their final consumption.
It has two types;
- Durable goods - it is those, that last for a long time. i.e., television, cars, bikes, etc.
- Non-durable goods - It satisfies the human wants for a short period. i.e., food, items soap, toothpaste, etc.
4. What do you mean by producer goods?
> producer goods are those which are used by the firm to produce consumer goods. It is indirectly satisfied human wants.
These are two types;
- Intermediate goods - Semi-finished goods are returned as intermediate goods. It is purchased from one firm to another firm.
- Capital goods - It is not used for consumption. But reinvested in the next production process. i.e., building, land, machine, etc.
THE END
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