Commerce (English Medium) इयत्ता १२ - CBSE Important Questions for Economics

Explain the need for land reforms implemented in the agriculture sector.  

Choose the correct alternative from given options:
Shift from Point A on Production Possibility Curve X₁Y₁ to point B on X₂Y₂ in the given figure indicates: 

Fill up the blank.
A Production Possibility Curve (PPC) would be convex to the origin if the Marginal Rate of Transformation (MRT) is ___________.

Answer the following question.
Define net exports. How is it different from the net factor income from abroad?

Answer the following question.
Why is a Production Possibility Curve concave to the origin? Explain.

Why does an economic problem arise? Explain.

Answer the following question.
What precautions should be taken while estimating national income by value-added method? Explain. 

Distinguish between positive economics and normative economics, with suitable examples.

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."

Define the following: Value Addition

Assertion (A): Public goods are those goods and services that are collectively consumed by the public.

Reason (R): Public goods are excludable and rivalrous in nature.

Giving valid reasons explain which of the following will not be included in estimation of National Income of India?

1. Purchase of shares of X. Ltd. by an investor in the National Stock Exchange.
2. Salaries paid by the French Embassy, New Delhi to the local workers of the  housekeeping department.
3. Compensation paid by the Government of India to the victims of floods.

Study the following information and compare the Economies of India and Singapore on the grounds of ‘Investment in infrastructure as a percentage of GDP’

Sources: World Development Indicators 2019, World Bank website: www.worldbank.org.; BP Statistical Review of World Energy 2019. 69th Edition.

Note: (*) refers to Gross Capital Formation.

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

Distinguish between ‘Value of Output’ and ‘Value Added’.

Read the following figure carefully and choose the correct pair from the alternatives given below:

State and discuss any two precautions to be considered while estimating national income by Expenditure Method.

_________ committee was set up for the development and promotion of small scale industries in India.

First Industrial Policy Resolution of Independent India was announced in the year ______.