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12th Standard English Medium Economics Subject Monetary Economics Book Back 2 Mark Questions with Solution

Published on: 03/06/2021

QB365 provides detailed and simple solution for every book back questions in class 12 Economics subject.It will helps to get more idea about question pattern in every book back questions with solution.

Download Tamil Nadu 12th Standard Economics question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

Questions + Answers key

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Std: 12th Standard - Economics

chapter: - Book back Questions

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Questions:

Generic 2

5 x 2 = 10

What is Stagflation?

Define inflation.

What is gold standard?

What is commodity money?

What is barter?

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Answers Key:

Generic 2

5 x 2 = 10

Stagflation is a combination of stagnant economic growth, high unemployment and high inflation.

(i) "Too much of Money chasing too few goods" - Coulbourn
(ii) "A state of abnormal increase in the quantity of purchasing power" - Gregorye

(i) The value of the monetary unit is directly linked with a certain weight of gold.
(ii) The purchasing power of a unit of money is maintained equal to the value of a fixed weight of gold.

(i) Surplus goods were exchanged for money which in turn was exchanged for other needed goods.
(ii) Goods like furs, skins, salt, rice, wheat, utensils, weapons were used as money

(i) Exchange of goods for goods.
(ii) Commodities and services were directly exchanged for other commodities and services.