Class 12 Macroeconomics Sandeep Garg Solutions
Sandeep Garg Macroeconomics Class 12 Solutions
FAQs on Sandeep Garg Solutions for Class 12 Macroeconomics
1. What Should I Read From the Money Chapter in the Macroeconomics Section?
From the Money chapter, you must study the characteristics of money thoroughly. Money supply must also be given equal importance. Other topics which you must study from this chapter are bank money, DDA, barter system and the double coincidence of wants.You can refer to the Sandeep Garg Macroeconomics Class 12 Solutions for understanding the concepts given in this chapter. It is an important chapter from the exam’s point of view and students must read this chapter thoroughly to understand the concepts.
Refer to Vedantu for free solutions chapter-wise and get free access to other online resources to enhance your learning.
2. When Should I Study Sandeep Garg Macroeconomics Class 12 Solutions 2024-25?
You can refer to the Sandeep Garg Macroeconomics Class 12 Solutions alongside your regular studies. However, it is more important to read the solutions while revising your lessons. You would also get an idea of the kind of questions you might face in the exam. You can also use the Sandeep Garg Macroeconomics Class 12 Solutions to prepare for the final exams. You can get an idea about the type of questions asked in the final exam from different chapters of class 12 Microeconomics.
3. What are the three phases of the circular flow of income?
The three phases of the circular flow of income are mentioned below:
Generation Phase: This is the first phase of the circular flow of income. In this phase, the company manufactures the goods and services with the help of the factor services.
Distribution Phase: This is the second phase in which there is an involvement of the flow of the factor income which consists of the rent, the profit from the company to the household.
Disposition Phase: This is the third phase of the circular flow of income and is basically related to the income collected by the factors of the production and it is used on the goods and services made by the company.
4. What is the function of the government sector in the economy?
The functions of the government sector in an economy play an indispensable role and they are as follow:
Their role is to collect taxes from the households and firms.
They do transfer payments to the households and they provide subsidies to the firms.
They make the payment for the purchase of the goods and services from the firms.
They also help in saving and borrowing money with the assistance of the financial market.
5. What are the different types of demand?
There are a lot of different types of demands and they are as follows:
Price Demand: It is related to the various types of the quantities of goods and services that a customer will buy at a quoted price and the given time whereas the other things remain constant.
Income Demand: It is related to various types of goods and services that a customer will buy at his different stages of income whereas the other things would remain constant.
Cross Demand: It refers to the demand of the product is not dependent on the cost of the product but it is dependent on the cost of other related products.
Direct Demand: When goods and services directly satisfy the individual demands then it is considered as Direct demand.
Derived demand or indirect demand: When the goods and services indirectly satisfy the demand of the consumer then it is known as Derived demand or indirect demand.
