HSC Arts (English Medium) 12th Standard Board Exam - Maharashtra State Board Question Bank Solutions for Economics

Explain the diagram:

1. The diagram represents ______ in demand.
2. In the diagram, the movement of the demand curve is in ______ direction.

The money market faces a shortage of funds due to ______.

Explain the problems faced by the money market in India.

Give economic terms:

A situation where more quantity is demanded at a lower price.

Policy that deals with public expenditure, public revenue and public debt –

Distinguish between revenue expenditure and capital expenditure. 

Explain the concepts of variation and changes in demand with the help of diagrams.

Distinguish between:

Expansion of demand and Contraction of demand

Give an economic term:

Other factors remain constant, demand falls due to a rise in price.

Complete the correlation:

Rise in price : Contraction of demand : : Fall in price : ______.

When less units are demanded at high price it shows ______.

Explain the theoretical difficulties involved in the measurement of national income.

Write an explanatory answer.

Explain the practical (statistical) difficulties involved in the estimation of national income.

Complete the Correlation:

Theoretical difficulty : Transfer payments :: ______ : Valuation of Inventories.

State with reason, whether you agree or disagree with the following statement:

There are many theoretical difficulties in the measurement of national income.

Identify and explain the following concept:

Vrinda receives a monthly pension of Rs. 5,000/- from the state government.

Identify & Explain the Concepts from the given illustration:

Viru kept aside 100 kgs. out of 500 kgs. of wheat produced on his farm for his family.

Write any four practical difficulties in national income estimation.

Assertion (A): Production for self-consumption is not accounted for in the national income.

Reasoning (R): The products kept for self consumption do not enter the market.

There are no theoretical difficulties in the measurement of National Income.