Arts (English Medium) Class 12 - CBSE Question Bank Solutions

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.

What do you mean by the production possibilities of an economy?

What is a production possibility frontier? 

What is a barter system?

What are the main functions of money?

What is transaction demand for money?

What is high-powered money?

What is marginal propensity to consume? 

Explain the automatic mechanism by which BoP equilibrium was achieved under the gold standard.

Should a current account deficit be a cause for alarm? Explain.

How is the equilibrium number of firms determined in a market where entry and exist is permitted?

How is the wage rate determined in a perfectly competitive labour market?

Suppose the market determined rent for apartments is too high for common people to afford. If the government comes forward to help those, seeking apartments on rent by imposing control on rent, what impact will it have on the market for apartments?

How are equilibrium price and quantity affected when income of the consumers decrease.

What were the main causes of India’s agricultural stagnation during the colonial period?

What are the various means by which countries are trying to strengthen their own domestic economies?

Choose the correct alternative from given options:
In the given figure, the movement on the production possibility curve from point A to point B shows _____________.

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: