NCERT Solutions for Class 12 Economics Chapter 5 – Market Equilibrium
Page No 84: Question 1: Explain market equilibrium. Answer: Market equilibrium is defined as the state of rest that is determined by the rational objectives …
Class 12 Economics
NCERT Solutions for Class 12 Economics Chapter 4 – The Theory of the Firm Under Perfect Competition
Page No 66: Question 1: What are the characteristics of a perfectly competitive market? Answer: Perfect Competition This type of market structure refers to the …
NCERT Solutions for Class 12 Economics Chapter 3 – Production and Costs
Page No 49: Question 1: Explain the concept of a production function. Answer: The production function of a firm depicts the relationship between the inputs …
NCERT Solutions for Class 12 Economics Chapter 2 – Theory of Consumer Behavior
Page No 34: Question 1: What do you mean by the budget set of a consumer? Answer: It refers to the set of consumption bundles …
NCERT Solutions for Class 12 Economics Chapter 1 – Introduction to Microeconomics
Page No 7: Question 1: Discuss the central problems of an economy. Answer: Every economy faces three central problems due to scarce availability of resources. …
