Arts (English Medium) कक्षा १२ - CBSE Important Questions for Economics

Explain whether the statement is true or false with reasons.

Total cost curve and Total variable cost curve are parallel to each other.

Name any one Maharatana company.

“The value of all goods and services can be expressed in monetary units.”

On the basis of the given statement, identify the function performed by money:

“In the post-reform period, the Government of India decided to retain profit-making Public Sector Undertakings (PSUs). It provided a special status to PSUs to enable them to expand in the global market.”

Do you agree with the given statement? Give valid reasons in support of your answer.

X and Y are complementary goods. The price of Y falls. Explain the chain of effects of this change in the market of X.

Explain the chain of an effect of excess demand of a good on it equilibrium price.

What is meant by 'excess supply' of a good in a market?

Explain its chain of effects on the market of that good. Use diagram

Equilibrium price of an essential medicine is too high. Explain what possible steps can be taken to bring down the equilibrium price but only through the market forces. Also explain the series of changes that will occur in the market.

Distinguish between revenue receipts and capital receipts. Give an example of each. 

Answer the following question.
Explain the meaning and implications of the maximum price ceiling and minimum price ceiling.

State whether the following statement is true or false. Give reasons for your answer :
When the equilibrium price is greater than the market price there will be excess supply in the market.

Answer the following question:
The market for a good is in equilibrium. How would an increase in an input price affect the equilibrium price and equilibrium quantity, keeping other factors constant? Explain using a diagram.

State the meaning of the following:

Autonomous Consumption

‘As the income increases, people tend to save more’. Justify the given statement.

Read the following statements carefully:

Statement 1: The consumption curve is an upward sloping straight line curve due to the direct relationship between income and consumption and the assumption of constant Marginal Propensity to Consume.

Statement 2: Aggregate Demand curve and Consumption curve are parallel to each other.

In the light of the given statements, choose the correct alternative from the following:

Read the following statements carefully.

Statement 1: On-the-job trainings help to bridge a gap between theoretical concepts and practical experiences.

Statement 2: On-the-job trainings update the employees, with the latest changes in their work field.

In the light of the given statements, choose the correct alternative:

State whether the following statement is true/false, with valid argument:

Human Capital and Human Development are one and the same thing.

“India has failed to implement the recommendations of Education Commission of 1964-66.” Give valid arguments in support of the given statement.

At the break-even point level of incomes for the economy is ₹ 10,000 crores and if the people tends to save 20 per cent of their additional income, then calcualte the value of autonomous consumption.