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

From the set of the events given in column I and corresponding facts given in Column II, choose the correct pair of statements:

“Ravya was initially working as an office clerk in a firm. In the pursuit to attain, a higher position and income, she attended a few on-the-job training sessions. These sessions contributed positively to her skills and expertise.”

Explain the impact of Ravya’s decision on human capital formation.

Statement 1: Great Proletarian Cultural Revolution was introduced in China in 1950's.

Statement 2: China's growth is mainly contributed by the manufacturing sector.

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

Identify, which of the following are associated with the problem of human capital formation in India?

1. Brain drain
2. Low academic standards
3. Rising population
4. Changes in social outlook

State with valid reason whether the following statement is true or false:

“Higher productivity and production are the outcome of investment in human resources.” 

Statement 1: In a two sector economy, consumption expenditure and investment expenditure are the two components of Aggregate Demand.

Statement 2: Aggregate demand curve always start from point of origin with positive slope.

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

Assuming that no resource is equally efficient in production of all goods, name the curve which shows production potential of the economy. Explain, giving reasons, its properties.

Explain the ‘unit of accounts’ function of money. How has it solved the related problem created by barter?

Explain the significance of 'medium of exchange' function of money

Production in an economy is below its potential due to unemployment. Government starts employment generation schemes. Explain its effect using production possibilities curve.

Explain the 'medium of exchange' function of money. How has it solved the related problem created by barter?

Give the meaning and characteristics of production possibility frontier.

Giving reason comment on the shape of production possibilities curve based on the following schedule:

A consumer consumes only two goods X and Y and is in equilibrium. Show that when the price of good X rises, the consumer buys less of good X. Use utility analysis.

A large number of technical training institutions have been started by the government. State its economic value in the context of production possibilities frontier.

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.