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

A person who is engaged in his own farm or non-farm enterprises is called:

Which of the following statement is not true for a worker?

Which of the following is the correct definition of self-employed?

Which of the following workers is a regular salaried employee?

The process of moving from self-employment and regular salaried employment to casual work is known as ____________.

An arrangement in which a worker uses his own resources to make a living is known ____________.

‘Casual wage work is the major source of employment in rural India’. Defend or refute the given statement with a valid reason.

‘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. 

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

‘Self employed workers are different from hired workers.’

How are the equilibrium price and quantity affected when both demand and supply curves shift in the same direction?

Suppose the demand and supply curves of salt are given by:

q^D = 1,000 − p q^S = 700 + 2p

(a) Find the equilibrium price and quantity.

(b) Now, suppose that the price of an input that used to produce salt has increased so, that the new supply curve is

q^S = 400 +2p

How does the equilibrium price and quantity change? Does the change conform to your expectation?

(c) Suppose the government has imposed a tax of Rs 3 per unit of sale on salt. How does it affect the equilibrium rice quantity?

What is the supply curve of a firm in the short run?

What is the supply curve of a firm in the long run?

How does technological progress affect the supply curve of a firm?

How does the imposition of a unit tax affect the supply curve of a firm?

How does an increase in the price of an input affect the supply curve of a firm?

How are the equilibrium price and quantity affected when demand and supply curves shift in opposite directions?

Is it necessary to generate employment in the formal sector rather than in the informal sector? Why?

Objectives of privatization policy are ______.

When we add Net factor income from abroad to GDP, we get: