Arts (English Medium) Class 12 - CBSE Important Questions for Economics

Assertion (A): Human capital is not traded in the market; however its services are traded.

Reason (R): Human capital is intangible in nature.

Benefits of physical capital accrue only to private entities, whereas human capital provides private as well as ______ benefits.

"Serious concerns over the climate change is taking over the attention of the world."

In the light of the above statement and image, discuss any two strategies to tackle this global concern of Environmental degradation.

"Active Government intervention is essential in education and health sectors in India."
Do you agree with the given statement? Give reasons in support of your answer.

"Expenditure on On-the-job training is an important means of human capital formation in an economy."
Give valid reasons to justify the given statement.

“Organic Farming is the need of the hour to promote sustainable development but, has its own limitations.”

Elaborate any two advantages and limitations each of organic farming in the light of the above statement.

‘Kavya works on her family farm and is neither paid in cash nor in the form of grains.’

Can she be categorized as a worker? Give valid reasons in support of your answer. 

Define Worker Population Ratio. Discuss its usefulness.

“In the late 1990's India experienced a widening gap between the growth of GDP and employment generation”. Discuss. 

‘Mr. Rishi, after completing his education, has joined his family business but his marginal productivity is zero.'

Comment upon the employment status of Mr. Rishi. Give valid reasons in support of your answer. 

‘Money is an asset which can be stored for use in future.

In the light of given statement, identify the function of money.

______ is the apex institution which plans and evaluates policies related to rural credit needs.

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

Identify, which of the following is the correct formula for calculating ‘Worker-Population Ratio’? 

Interpret the situation of earth as depicted in the given picture, with reference to current environmental challenges:

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

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

State the meaning of organic farming. Discuss how does it help in promoting sustainable development.

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

Rising population is not the cause for quality of human capital formation. 

Explain the concepts of Opportunity Cost and Marginal Rate of Transformation using a production possibility schedule based on the assumption that no resource is equally efficient in production of all goods.

Explain the difference between "Shift of Supply Curve" and "Movement along Supply Curve". State one factor responsible for each. Use diagrams.