Revision Notes For Class 12 Economics Macroeconomics Chapter 1 Introduction

Macroeconomics is a branch of economics that deals with the comprehensive economic variables of the economy. This chapter provides a brief introduction to the concept Macroeconomics. A few important points are given here – meaning of macro economics, capitalist country, wage rate, wage labour, great depression, entrepreneurs, revenue, investment expenditure.

Macroeconomics is the branch of economics that studies the performance and behavior of an economy as a whole. It focuses on the comprehensive changes in the economy such as growth rate, unemployment, inflation, and gross domestic product (GDP).

Frequently asked Questions on CBSE Class 12 Macroeconomics Notes Chapter 1: Introduction

What is ‘Macroeconomics’?

Macroeconomics is the branch of economics that deals with the structure, performance, behavior, and decision-making of the whole, or aggregate, economy.

What is ‘Investment expenditure’?

Investment expenditure refers to the expenditure incurred either by an individual or a firm or the government for the creation of new capital assets like machinery, building etc.

What are the disadvantages of ‘Unemployment’?

1. Reduced income. 2. Health problems. 3. Negative familial effects.4. Mental health challenges.

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