Ch 6National Income and Macroeconomic Fundamentals — Class 12 Business Economics, concept-first.

So far in Business Economics you have studied how a single firm decides its output, cost, revenue and price.

National income can be measured in three internationally accepted ways. Each looks at the same circular flow of income from a different point — production, income, or spending — and in principle all t…

Per Capita Income (PCI) is the average income available per person, obtained by dividing national income by the country's mid-year population:

Modern business is impossible without money and banks. A Business Economics student needs the essentials of both.

Public finance is the branch of economics that studies the income (revenue) and expenditure of the government and the management of the two.

Sample papers and previous-year board questions for this subject.