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Class 12 Commerce Economics — practice by topic

Browse 51 questions across 4 Economics topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Economics topics

Government Budget and the Economy (13)Introduction to Economics (13)Money and Banking (13)National Income Accounting (12)

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The branch of economics that studies the behaviour of individual units such as consumers and firms is:Read the answer and worked solution →The branch of economics that studies economy-wide aggregates such as national income and employment is:Read the answer and worked solution →The economist whose work 'The Wealth of Nations' makes him widely regarded as the father of economics is:Read the answer and worked solution →Modern macroeconomics emerged largely from the work of the economist:Read the answer and worked solution →

Worked practice questions

The branch of economics that studies the behaviour of individual units such as consumers and firms is:

  1. public finance
  2. microeconomics
  3. econometrics
  4. macroeconomics
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Correct answer: B. microeconomics

Microeconomics studies individual units — consumers, firms, markets.

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The branch of economics that studies economy-wide aggregates such as national income and employment is:

  1. welfare economics
  2. macroeconomics
  3. microeconomics
  4. managerial economics
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Correct answer: B. macroeconomics

Macroeconomics studies aggregates — national income, employment, price level.

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The economist whose work 'The Wealth of Nations' makes him widely regarded as the father of economics is:

  1. Adam Smith
  2. John Maynard Keynes
  3. David Ricardo
  4. Alfred Marshall
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Correct answer: A. Adam Smith

Adam Smith's 'Wealth of Nations' earns him the title father of economics.

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How to practise

  1. Choose a Economics question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
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