ISC (Arts) Class 12 - CISCE Important Questions for Economics

What is meant by the following function of the Central bank:

Lender of the last resort

Discuss any four factors affecting price elasticity of demand.

What is meant by production function?

Differentiate between personal income and private income.

Define marginal utility. 

Differentiate between the expansion of demand and an increase in demand, using diagrams.

Figures (A), (B) and (C) given below represent different types of Demand curves.

(A)	(B)	(C)

What kind of goods do each of these Demand curves represent? Give a reason for each of the curves.

Draw a straight-line demand curve joining both the axes. Indicate the following on the demand curve.

Elasticity of demand is equal to zero

Utility maximising consumers would like to decrease the consumption when ______.

Draw a diagram to show the elasticity of demand when it is greater than one.

Find the value of additional investment made by the government when MPC = 0.5 and the increase in income (ΔY) = ₹ 1000.

Explain the concept of deficient demand with the help of aggregate demand and aggregate supply curves. Discuss one physical and one monetary measure to correct it.

How is it determined by using Saving and Investment approach?

Discuss the mechanism of investment multiplier with the help of a numerical.

Why is effective demand also known as expost demand?

The price of a good decreases from ₹100 to 80 per unit. If the price elasticity of demand for the good is 2 and the original quantity demanded is 30 units, calculate the new quantity demanded.

Explain the concept of Investment Multiplier using a diagram.

Mention any one difference between Induced investment and Autonomous investment.

With reference to Simple Keynesian model, give the meaning of ex-ante demand.

If aggregate demand exceeds aggregate supply in a situation of full employment, what will be its impact on the economy?