Commerce (English Medium) कक्षा १२ - CBSE Question Bank Solutions for Economics

A consumer consumes only two goods X and Y and is in equilibrium. Show that when the price of good X falls, demand for good X rises. Use Utility Analysis.

What are two alternative ways of determining equilibrium level of income? How are these related?

Giving reason, comment on the shape of Production Possibilities Curve based on the following table :

Giving reason, comment on the shape of Production Possibilities Curve based on the following table :

Answer the following question.
Explain the meaning of opportunity cost with the help of a production possibility schedule.

Define Production Possibilities Curve. Explain why it is downward sloping from left to right. 

Define flow variable.

Define flow variable. 

What do you mean by the production possibilities of an economy?

What is a production possibility frontier? 

What is a barter system? What are its drawbacks?

What are the main functions of money? How does money overcome the shortcomings of a barter system?

What is transaction demand for money? How is it related to the value of transactions over a specified period of time?

What is high-powered money?

What is marginal propensity to consume? 

Explain the automatic mechanism by which BoP equilibrium was achieved under the gold standard.

Should a current account deficit be a cause for alarm? Explain.

How is the equilibrium number of firms determined in a market where entry and exist is permitted?

How is the wage rate determined in a perfectly competitive labour market?

Suppose the market determined rent for apartments is too high for common people to afford. If the government comes forward to help those, seeking apartments on rent by imposing control on rent, what impact will it have on the market for apartments?