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ISC Class 12 Economics — practice by topic

Browse 70 questions across 1 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

Macroeconomics: Income, Budget & Banking (70)

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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 historical event that prompted the development of macroeconomics in the 1930s was the:Read the answer and worked solution →The value of output minus the value of intermediate consumption is called: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 historical event that prompted the development of macroeconomics in the 1930s was the:

  1. Great Depression
  2. fall of the Berlin Wall
  3. Industrial Revolution
  4. First World War
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Correct answer: A. Great Depression

The 1930s Great Depression spurred the rise of macroeconomics.

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How to practise

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