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

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

Explain the economic stability as objectives of government budget.

Define Consumption Goods.

Find Net Value added at Market Price: 

Explain the concept of ‘fiscal deficit’ in a government budget. What does it indicate?

Draw average revenue and marginal revenue curves in a single diagram of a firm which can sell more units of a good only by lowering the price of that good. Explain. 

Market for a good is in equilibrium. There is an ‘increase’ in demand for this good. Explain the chain of effects of this change. Use diagram. 

Explain the ‘redistribution of income’ objective of Government budget.

Discuss the central problems of an economy.

Explain why public goods must be provided by the government.

What would be the shape of the demand curve so that the total revenue curve is

(a) a positively sloped straight line passing through the origin?

(b) a horizontal line?

From the schedule provided below calculate the total revenue, demand curve and the price elasticity of demand:

What is the value of the MR when the demand curve is elastic?

Comment on the shape of MR curve in case when TR curve is a positively sloped straight line.

List the three different ways in which oligopoly firms may behave.

If duopoly behaviour is one that is described by Cournot, the market demand curve is given by the equation q = 200 − 4p and both the firms have zero costs, find the quantity supplied by each firm in equilibrium and the equilibrium market price.

What is meant by prices being rigid? How can oligopoly behaviour lead to such an outcome?

Explain market equilibrium.

What will happen if the price prevailing in the market is

(i) above the equilibrium price?

(ii) below the equilibrium price?