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Economics Most Important Questions

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Economics is the study concerned with the use of resources and production of goods and services, it covers all the capital growth and business of a nation. Economics helps us to understand the potential price of rice on the basis of demand and supply. Also, in various competitive exams economics carry a good weightage, so here we will explore the most important questions related to the subject of economics. 

In conclusion, economics is a vast and important domain to understand. By studying these questions and answers you may have developed a good understanding of the business, production, and market resources. 

FAQs Economics Most Important Questions

Q 1.  Why is economics important in class 12th?

The study of economics is divided into two sub parts i.e., Microeconomics and Macroeconomics. Macroeconomics deals with the structure of the economy, its behaviour, decision-making, and also the over all performance. Macroeconomics must be studied well to score good marks in class 12th. Apart from this, economics in class 12th is important because it provides knowledge and skills that are relevant to various aspects of life such as the financial and career choosing decisions.

Q 2. What factors contribute to economic growth?

The 3 main factors that contribute to economic growth are – Technological advancement, Increase in labour inputs and accumulation of capital stocks.

Q 3. What are the 3 big questions of economics?

The 3 big questions of economics are – 1. What to produce? , 2. How to produce? , 3. Who to produce it for?

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Last Updated : 14 Jul, 2023
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