HSC Science (Electronics) १२ वीं कक्षा - Maharashtra State Board Important Questions for Economics

State with reason, whether you agree or disagree with the following statement:

Under the output method, the value-added approach is used to avoid double counting.

Explain the income method and expenditure method of measuring national income.

Identify & Explain the Concepts from the given illustration:

Viru kept aside 100 kgs. out of 500 kgs. of wheat produced on his farm for his family.

Choose the correct option.

Precautions to be taken while estimating national income by output method:

1. Only value of final goods and services must be taken in to account.
2. Indirect taxes included in the market prices are to be deducted.
3. Subsidies given by the government on certain products must be added.
4. Sale and purchase of second hand goods should be considered.

Choose the correct option.

Practical difficulties in the measurement of national income:

1. Illegal income
2. Problem of double counting
3. Inadequate and unreliable data
4. Valuation of inventories

Identify & explain the concept from the given illustration.

Sarla, a retired school teacher receives a monthly pension of ₹ 20,000/- from the Government.

Distinguish Between

Gross Domestic Product and Net Domestic Product

Complete the correlation.

Output method : Product method :: ______ : Factor cost method.

Assertion (A): Production for self-consumption is not accounted for in the national income.

Reasoning (R): The products kept for self consumption do not enter the market.

There are no theoretical difficulties in the measurement of National Income.

Find the odd word out:

Features of National Income:

During the period of inflation surplus budget is advisable.

State whether the following statement is True or False :

Budget is a monthly statement - False.

Write short answer for the following question:

What are the Typing of Budget.

Fill in the blank with proper alternatives given in the bracket:

Budget is the _________________ of the revenue and expenditure of the coming year. 

Fill in the blank using proper alternatives given in the bracket:

During depression .............. budget is preferable.

Write short Answer for the following question:

Explain the components of government budget ?

Write short notes (Any Two)

Revenue Receipts

 State whether the following statements are True or False with reasons: 

 The expenditure is more than income in balanced budget.