Arts (English Medium) कक्षा १२ - CBSE Question Bank Solutions

The service sector includes activities such as:

What was the average rate of growth of employment during 1950-2010?

Compare and analyse the sector-wise trends in employment, based on following information:

Trends in Employment (Sector-wise)

Ram is an owner of a salon. He is temporaily absent from work due to injury.

Can he be considered as worker? Explain.

“In the late 1990's India experienced a widening gap between the growth of GDP and employment generation”. Discuss. 

Define externalities. Give an example of negative externality. What is its impact on welfare?

Sale of petrol and diesel cars is rising particularly in big cities. Analyse its impact on gross domestic product and welfare.

Government spends on child immunization programme. Analyse its impact on Gross Domestic Product and welfare of the people.

If the Real GDP is Rs400 and Nominal GDP is Rs450, calculate the Price Index (base = 100).

Write down some of the limitations of using GDP as an index of welfare of a country.

What does the price elasticity of supply mean? How do we measure it?

A firm earns a revenue of Rs 50 when the market price of a good is Rs 10. The market price increase to Rs 15 and the firm now earns a revenue of Rs 150. What is the price elasticity of the firm’s supply curve?

The market price of a good changes from Rs 5 to Rs 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm’s supply curve is 0.5. Find the initial and final output levels of the firm.

At the market price of Rs 10, a firm supplies 4 units of output. The market price increases to Rs 30. The price elasticity of the firm’s supply is 1.25. What quantity will the firm supply at the new price?

Answer the following question.
Gross Domestic Product (GDP) Does Not Give Us a Clear Indication of Economic Welfare of a Country. "Defend Or Refute the Given Statement with Valid Reason.

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

"Higher Gross Domestic Product (GDP) means greater per capita availability of goods in the economy."

Explain how ‘Non-Monetary Exchanges’ impact the use of Gross Domestic Product as an index of economic welfare.

Discuss briefly the concept of 'Externalities', with suitable example.

"Many goods and services which may contribute to welfare, but are not included in estimating Gross Domestic Product (GDP)."

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

State the meanings of the following:

Externalities