The NCERT Class 12 economics book Introductory Microeconomics has five chapters, and the official chapter PDFs are all on this page. The five chapters run from A Simple Economy to Market Equilibrium, covering the consumer, the producer and the market.
The PDF alone does not tell you what is inside the book. This page adds a per-chapter breakdown of sections, exercise questions and printed pages, names the longest and heaviest chapters, and gives an order of study that runs from Chapter 1 to Chapter 5.
Download the Class 12 Economics book Introductory Microeconomics PDF
All five files are NCERT’s own PDFs, hosted on ncert.nic.in. The Chapter 1 file, A Simple Economy, sits directly on NCERT’s textbook server at ncert.nic.in, so every chapter below comes from the same official source.
| Ch. | Chapter | Pages | Official PDF |
|---|---|---|---|
| 1 | A Simple Economy | 7 | |
| 2 | Theory of Consumer Behaviour | 28 | |
| 3 | Production and Costs | 17 | |
| 4 | The Theory of the Firm under Perfect Competition | 18 | |
| 5 | Market Equilibrium | 20 |
The Class 12 Economics book in numbers
Measured from the printed edition, the book has:
- 5 chapters
- 90 printed pages
- 62 named sections
- 116 end-of-chapter exercise questions
- 189 equations printed across the book
- 0 activities in any chapter
- all 5 chapter PDFs verified and linked above
The book is diagram-led: consumer theory, cost curves and market equilibrium are all developed through graphs rather than activities. This page covers the Introductory Microeconomics half of Class 12 Economics only.
What each chapter of Introductory Microeconomics teaches
The directory below is the chapter-by-chapter breakdown of the book. Every count in it comes from the printed textbook, so you can check it against your own copy.
| Ch. | Chapter | Sections | Activities | Figures | Questions |
|---|---|---|---|---|---|
| 1 | A Simple Economy | 8 | — | — | 8 |
| 2 | Theory of Consumer Behaviour | 19 | — | 1 | 26 |
| 3 | Production and Costs | 12 | — | 1 | 30 |
| 4 | The Theory of the Firm under Perfect Competition | 17 | — | — | 27 |
| 5 | Market Equilibrium | 6 | — | 1 | 25 |
The columns count what the book prints: a section is one of NCERT’s own numbered headings, a figure is a numbered figure in the book, a question is an end-of-chapter exercise, and an activity is a task printed inside the chapter.
Chapter 1: A Simple Economy (pp. 1-7)
Chapter 1 is the orientation chapter: using a simple economy it shows why every society faces the central problems of an economy, contrasts the centrally planned economy with the market economy, and introduces positive and normative economics and the microeconomics and macroeconomics distinction the rest of the book assumes.
- A Simple Economy (p. 1)
- Central Problems of an Economy (p. 2)
- Organisation of Economic Activities (p. 4)
- Positive and Normative Economics (p. 6)
- Microeconomics and Macroeconomics (p. 6)
- Plan of the Book (p. 6)
At 7 pages with 8 named sections and 8 exercise questions, this is the shortest chapter in the book — and the orientation for everything that follows.
Chapter 2: Theory of Consumer Behaviour (pp. 8-35)
Chapter 2 builds the demand side of the book: the budget set collects every bundle a consumer can buy with her income at the going prices, the budget line marks the bundles that cost exactly her whole income, and from there the chapter develops utility, demand and elasticity — the foundation every later chapter assumes.
- Utility (p. 8)
- The Consumer’s Budget (p. 15)
- Optimal Choice of the Consumer (p. 19)
- Demand (p. 21)
- Market Demand (p. 26)
- Elasticity of Demand (p. 27)
Two ideas inside the chapter carry most of the weight: cardinal versus ordinal utility (pp. 9 and 11), and elasticity measured along a linear demand curve (p. 29), with normal and inferior goods (p. 24) in between. The book closes the chapter with a summary that walks through these same results.
With 28 pages, 19 sections and 26 exercise questions, this is the longest chapter and where most of the book’s demand analysis sits.
Chapter 3: Production and Costs (pp. 36-52)
Chapter 3 shows how output turns into cost: a production function states the maximum output from each combination of inputs, the short run fixes some inputs while the long run varies them all, and the chapter links total, average and marginal product to the cost curves a firm works with.
- Production Function (p. 36)
- The Short Run and the Long Run (p. 38)
- Total Product, Average Product and Marginal Product (p. 39)
- The Law of Diminishing Marginal Product and the Law of Variable Proportions (p. 40)
- Shapes of Total Product, Marginal Product and Average Product Curves (p. 41)
- Returns to Scale (p. 42)
- Costs (p. 43)
The summary at the end of the chapter runs from the production function, through the short run and long run, up to the cost curves — the fastest route back into the chapter before an exam.
In 17 pages it packs 12 sections and 30 exercise questions — the heaviest exercise load in the book.
Chapter 4: The Theory of the Firm under Perfect Competition
Chapter 4 studies the single firm inside a perfectly competitive market, where every firm is a price taker: total revenue is market price times output, average revenue equals price, and profit maximisation produces the firm’s supply curve.
- Perfect Competition: Defining Features
- Revenue
- Profit Maximisation
- Supply Curve of a Firm
- Determinants of a Firm’s Supply Curve
- Market Supply Curve
- Price Elasticity of Supply
Three ideas carry the chapter: the three conditions of profit maximisation, the shut down point, and the normal profit and break-even point. The chapter closes with a summary that runs from price-taking and revenue to the firm’s supply curve.
It spans 18 pages with 17 sections and 27 exercise questions, and it is where the book’s supply analysis actually begins.
Chapter 5: Market Equilibrium (pp. 71-90)
Chapter 5 brings Chapters 2 and 4 together: market equilibrium is where demand and supply meet, excess demand and excess supply push the price back towards equilibrium, and the model is then applied to a price ceiling and a price floor.
- Equilibrium, Excess Demand, Excess Supply (p. 71)
- Applications (p. 84)
Under the first heading the chapter works two cases: market equilibrium with a fixed number of firms (p. 72) and market equilibrium with free entry and exit (p. 80). Under Applications it studies a price ceiling (p. 84) and a price floor (p. 85), with the wheat market as the illustrative case.
At 20 pages it has the smallest section count — 6 — and 25 exercise questions, yet it assembles the demand side of Chapter 2 with the supply side of Chapter 4.
Chapter study pages for Introductory Microeconomics
Each chapter has a dedicated study page that works through its sections and exercises. The table below shows where every chapter page currently stands.
| Ch. | Chapter page |
|---|---|
| 1 | A Simple Economy (coming soon) |
| 2 | Theory of Consumer Behaviour (coming soon) |
| 3 | Production and Costs (coming soon) |
| 4 | The Theory of the Firm under Perfect Competition (coming soon) |
| 5 | Market Equilibrium (coming soon) |
How to use the Class 12 Economics textbook
This order follows the way the book itself builds: each chapter assumes the one before it.
- Read Chapter 1 as a seven-page orientation to the central problems and the micro/macro split.
- Make Chapter 2 your foundation — the budget line, indifference-curve analysis, demand and elasticity (the longest chapter at 28 pages).
- Use Chapter 3 for production and the cost curves.
- Take Chapter 4 for how a price-taking firm maximises profit and where the supply curve comes from.
- Finish with Chapter 5 to watch demand and supply reach market equilibrium.
The chapters also connect across the book. This table shows what each one sets up for the chapters after it:
| Stage | Chapter | What it sets up |
|---|---|---|
| Orientation | Chapter 1 | the central problems and the micro/macro split the whole book uses |
| Consumer behaviour | Chapter 2 | the demand side used in Chapter 5 |
| Production and costs | Chapter 3 | the cost curves Chapter 4 works with |
| The firm | Chapter 4 | the supply curve Chapter 5 sums into the market |
| Equilibrium | Chapter 5 | demand and supply brought together |
The exercise load is spread unevenly:
- 116 exercise questions in total
- heaviest in Chapter 3 (30) and Chapter 4 (27)
- numerical and graphical practice concentrated in Chapters 2-4
Textbook contents and the examinable syllabus are not always identical — check the current official CBSE syllabus for what is examinable this session.
Which 12th std economics textbook you need
NCERT publishes Class 12 Economics as two textbooks, not one. Introductory Microeconomics — the book on this page — covers the consumer, production, the firm and market equilibrium; Introductory Macroeconomics is the companion volume.
Match the book to the syllabus your school follows: if your scheme lists microeconomics, you need this book; if it lists macroeconomics, you need the companion volume, and many students need both.
Chapter 1’s Plan of the Book (p. 6) states the scope of the micro book itself — a useful way to confirm you have the right volume. CBSE settles the syllabus that decides which book you study; NCERT publishes both. If you searched for the 12th standard economics textbook, this is the micro volume.
Related NCERT books and resources
This listing is maintained for the 2026-27 academic session using the NCERT textbook information available to us. NCERT remains the authority for confirming the latest edition.
These pages on this site take you further:
- NCERT books directory — every class and subject covered here
- Class 12 books hub — all Class 12 subjects
- Class 12 Economics subject page — the book this page belongs to
Sources and data verification
- The chapter counts and page references on this page describe the NCERT edition of Introductory Microeconomics published on ncert.nic.in — chapter PDFs leec201 to leec205.
- This page covers the Introductory Microeconomics book only, not the Class 12 Macroeconomics book or any other subject.
- The listing is maintained for the current official NCERT edition available on ncert.nic.in.
- NCERT settles textbooks, editions and PDFs; CBSE settles the curriculum, syllabus and examinations.
Reference: NCERT Class 12 Economics textbook, official edition on ncert.nic.in. Figure captions and section titles quoted from the textbook; page references are to the official PDF.
Introductory Microeconomics for Class 12: common questions
How many chapters are in the Class 12 economics book Introductory Microeconomics?
Five: A Simple Economy, Theory of Consumer Behaviour, Production and Costs, The Theory of the Firm under Perfect Competition, and Market Equilibrium. They run across 90 printed pages.
Is the Introductory Microeconomics PDF on this page the official NCERT file?
Yes. Every link points to NCERT’s own PDFs, hosted on ncert.nic.in — the same files schools and the board use. They are free to download and print.
Which chapter covers demand and price elasticity of demand in this book?
Chapter 2, Theory of Consumer Behaviour. Section 2.4 Demand (p. 21) covers the demand curve and the law of demand, and section 2.6 Elasticity of Demand (p. 27) covers price elasticity of demand, including elasticity along a linear demand curve (p. 29).
Where are price ceiling and price floor explained?
In Chapter 5, Market Equilibrium, inside the Applications section (p. 84). Price ceiling is section 5.2.1 and price floor is section 5.2.2.
Where can I find answers to the exercise questions in the book?
The book prints its 116 exercise questions at the end of the five chapters but does not print answers. The chapter study pages linked above are the place to work through them chapter by chapter.