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Commerce (English Medium) Class 12 - CBSE Question Bank Solutions for Economics

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Economics
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Given the following data, find the missing value of 'Government Final Consumption Expenditure' and 'Mixed Income of Self Employed'.

S.No. Particulars Amount
(In ₹ crores)
(i) National Income 71,000
(ii) Gross Domestic Capital  Formation 10,000
(iii) Government Final Consumption Expenditure ?
(iv) Mixed Income of Self Employed ?
(v) Net Factor Income from Abroad 1,000
(vi) Net Indirect Taxes 2,000
(vii) Profits 1,200
(viii) Wages & Salaries 15,000
(ix) Net Exports 5,000
(x) Private Final Consumption Expenditure 40,000
(xi) Consumption of Fixed Capital 3,000
(xii) Operating Surplus 30,000
[3] Determination of Income and Employment
Chapter: [3] Determination of Income and Employment
Concept: undefined >> undefined

Choose the correct alternative from given options:
Shift from Point A on Production Possibility Curve X1Y1 to point B on X2Yin the given figure indicates: 

[1] Introduction
Chapter: [1] Introduction
Concept: undefined >> undefined

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

[1] Introduction
Chapter: [1] Introduction
Concept: undefined >> undefined

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

[1] Introduction
Chapter: [1] Introduction
Concept: undefined >> undefined

State the meaning of the following:

Autonomous Consumption

[3] Determination of Income and Employment
Chapter: [3] Determination of Income and Employment
Concept: undefined >> undefined

Supply of money refers to quantity of money ______.

[2] Money and Banking
Chapter: [2] Money and Banking
Concept: undefined >> undefined

______ is the primary function of money.

[2] Money and Banking
Chapter: [2] Money and Banking
Concept: undefined >> undefined

Money is a medium of ______.

[2] Money and Banking
Chapter: [2] Money and Banking
Concept: undefined >> undefined

Money is something that is ______.

[2] Money and Banking
Chapter: [2] Money and Banking
Concept: undefined >> undefined

Which of the following transactions are recorded in the current account of the balance of payments?

[5] Balance of Payments
Chapter: [5] Balance of Payments
Concept: undefined >> undefined

At the time of independence, most of the land was owned by ______.

[1] Development Experience (1947-90) and Economic Reforms since 1991
Chapter: [1] Development Experience (1947-90) and Economic Reforms since 1991
Concept: undefined >> undefined

Which of the following activities is included in the primary sector?

[1] Development Experience (1947-90) and Economic Reforms since 1991
Chapter: [1] Development Experience (1947-90) and Economic Reforms since 1991
Concept: undefined >> undefined

Which of the following was the major occupation on the eve of independence?

[1] Development Experience (1947-90) and Economic Reforms since 1991
Chapter: [1] Development Experience (1947-90) and Economic Reforms since 1991
Concept: undefined >> undefined

Identify which of the following is not an example of ‘invisible item’ under Current Account of the Balance of Payments transactions:

[5] Balance of Payments
Chapter: [5] Balance of Payments
Concept: undefined >> undefined

Under the Balance of Payments structure of a nation, the two main categories of accounts for the classification of the transactions are ____________ and ____________.

i. current account

ii. unilateral transfer account

iii. capital account

iv. loan account

Identify the correct alternatives from the following:

[5] Balance of Payments
Chapter: [5] Balance of Payments
Concept: undefined >> undefined

Prior to India's independence, the stagnation in the agricultural sector was mainly caused by ____________.

[1] Development Experience (1947-90) and Economic Reforms since 1991
Chapter: [1] Development Experience (1947-90) and Economic Reforms since 1991
Concept: undefined >> undefined

In equation C = a + by, the value of b lies between ______.

[3] Determination of Income and Employment
Chapter: [3] Determination of Income and Employment
Concept: undefined >> undefined

Money on wings indicates ______.

[2] Money and Banking
Chapter: [2] Money and Banking
Concept: undefined >> undefined

Final goods refer to those goods which are used either for ______ or for ______.

[3] Determination of Income and Employment
Chapter: [3] Determination of Income and Employment
Concept: undefined >> undefined

Which of the following is not an indicator of human development?

[3] Development Experience of India – a Comparison with Neighbours
Chapter: [3] Development Experience of India – a Comparison with Neighbours
Concept: undefined >> undefined
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