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Chapters
2: National Income
3: Theories of Employment and Income
4: Consumption and Investment Functions
5: Monetary Economics
6: Banking
7: International Economics
8: International Economic Organisations
9: Fiscal Economics
10: Environmental Economics
11: Economics of Development and Planning
12: Introduction to Statistical Methods and Econometrics
![Samacheer Kalvi solutions for Economics [English] Class 12 TN Board chapter 1 - Introduction to Macro Economics - Shaalaa.com](/images/economics-english-class-12-tn-board_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Samacheer Kalvi solutions for Economics [English] Class 12 TN Board chapter 1 - Introduction to Macro Economics")
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Solutions for Chapter 1: Introduction to Macro Economics
Below listed, you can find solutions for Chapter 1 of Tamil Nadu Board of Secondary Education Samacheer Kalvi for Economics [English] Class 12 TN Board.
Samacheer Kalvi solutions for Economics [English] Class 12 TN Board 1 Introduction to Macro Economics Model Questions [Pages 15 - 17]
Part A - Multiple Choice Questions
The branches of the subject Economics are ______.
Wealth and welfare
production and consumption
Demand and supply
micro and macro
Who coined the word ‘Macro’?
Adam Smith
J M Keynes
Ragnar Frisch
Karl Marx
Who is regarded as Father of Modern Macro Economics?
Adam Smith
J M Keynes
Ragnar Frisch
Karl Marx
Identify the other name for Macro Economics.
Price Theory
Income Theory
Market Theory
Micro Theory
Macro economics is a study of __________.
individuals
firms
a nation
aggregates
Indicate the contribution of J M Keynes to economics.
Wealth of Nations
General Theory
Capital
Public Finance
A steady increase in general price level is termed as_________.
wholesale price index
Business Cycle
Inflation
National Income
Identify the necessity of Economic policies.
to solve the basic problems
to overcome the obstacles
to achieve growth
all the above
Indicate the fundamental economic activities of an economy.
Production and Distribution
Production and Exchange
Production and Consumption
Production and Marketing
An economy consists of ______.
consumption sector
Production sector
Government sector
All the above
Identify the economic system where only private ownership of production exists.
Capitalistic Economy
Socialistic Economy
Globalisic Economy
Mixed Economy
Economic system representing equality in distribution is _________.
Capitalism
Globalism
Mixedism
Socialism
Who is referred as the ‘Father of Capitalism’?
Adam Smith
Karl Marx
Thackeray
J M Keynes
The country following Capitalism in ________________ .
Russia
America
India
China
Identify The Father of Socialism.
J M Keynes
Karl Marx
Adam Smith
Samuelson
An economic system where the economic activities of a nation are done both by the private and public together is termed as ______.
Capitalistic Economy
Socialistic Economy
Globalisic Economy
Mixed Economy
Quantity of a commodity accumulated at a point of time is termed as ____________.
production
stock
variable
flow
Identify the flow variable.
money supply
assets
income
foreign exchange reserves
Identify the sectors of a Two Sector Model.
Households and Firms
Private and Public
Internal and External
Firms and Government
The Circular Flow Model represents an open Economy.
Two Sector Model
Three Sector Model
Four Sector Model
All the above
Part B - Answer the following questions in one or two sentences
Define Macro Economics.
Define the term ‘Inflation’
What is meant by an ‘Economy’?
Classify the economies based on the status of development.
What do you mean by Capitalism?
Define ‘Economic Model’
‘Circular Flow of Income’ - Define.
Part C - Answer the following questions in about a paragraph
Explain the importance of Macro economics.
Describe the different types of economic systems.
Outline the major merits of capitalism.
Indicate the demerits of socialism.
Enumerate the features of a mixed economy.
Distinguish between Capitalism and Globalism.
Briefly explain the two sector circular flow model.
Part D - Answer the following questions in one page
Discuss the scope of Macro Economics.
Illustrate the functioning of an economy based on its activities.
Compare the features of capitalism and socialism.
Compare the feature of Capitalism, Secularism, and Mixedism.
Solutions for 1: Introduction to Macro Economics
Samacheer Kalvi solutions for Economics [English] Class 12 TN Board chapter 1 - Introduction to Macro Economics
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Concepts covered in Economics [English] Class 12 TN Board chapter 1 Introduction to Macro Economics are Macro Economics, Meaning of Macro Economics, Scope of Macro Economics, Limitations of Macro Economics, Economy and Its Types, Economic Systems, Introduction to Macro Economics, Circular Flow of Income, Importance of Macro Economic.
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