HSC Arts (English Medium) इयत्ता १२ वी - Maharashtra State Board Important Questions for Economics

Define or explain the following concept.

Unitary elastic demand.

State and explain the factors influencing the elasticity of demand.

Explain the determinants of supply.

Complete the correlation:

Expansion of supply : Price rises :: Contraction of supply : _______

Distinguish Between:

Expansion of supply and Contraction of supply.

What is meant by Perfect competition?

______ : Base year prices :: P₁ : Current year prices.

State with reason whether you agree or disagree with the following statement:

Index numbers are free from limitations.

Explain the significance of index numbers in economics.

Explain the steps involved in the construction of index numbers.

Explain the types of index numbers.

Write an explanatory answer.

Explain the practical (statistical) difficulties involved in the estimation of national income.

Complete the Correlation:

Theoretical difficulty : Transfer payments :: ______ : Valuation of Inventories.

Explain the two-sector model of the circular flow of National Income.

Identify and explain the following concept:

Vrinda receives a monthly pension of Rs. 5,000/- from the state government.

Give an economic term:

The gross market value of all final goods and services produced within the domestic territory of a country during a period of a year.

Study the following table and answer the questions given below it.

1. Calculate GDP (Gross Domestic Product) on the basis of the above table.
2. Calculate NDP (Net Domestic Product) on the basis of the above table.

State with reason whether you agree or disagree with the following statement:

The obligatory function is the only function of the Government.

Distinguish between revenue expenditure and capital expenditure. 

Explain any four non-tax sources of public revenue.