Revision Notes For Class 12 Economics Macroeconomics Chapter 4 Determination Of Income And Employment

Determination Of Income And Employment is one of the most important chapters for the class 12 students. This chapter comprises of various concepts – Aggregate demand (AD), aggregate supply (AS), consumption function, average propensity to consume, marginal propensity to consume, linear consumption function, saving function, average propensity to save, marginal propensity to save, equilibrium level of output, effective demand, full employment equilibrium, paradox of thrift. These are a few important points that the students can learn and revise.

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