HSC Science (Computer Science) 12th Standard Board Exam - Maharashtra State Board Question Bank Solutions for Economics

Calculate Laaspeyre's index from the given data:

Solve the following:

Calculate Paasche's index from the given data:

Distinguish between Laaspeyre's Index and Paasche's Index.

Explain the steps involved in the construction of index numbers.

NDP is obtained by ______.

Complete the Correlation:

______ : C + I + G + (X-M) :: GNP : C + I + G + (X-M) + (R-P).

Wrongly matched pair:

Explain the concept of Green GNP.

Explain the principles of taxation.

Development financial institutions were established to ______.

Explain any four features of composition of India's foreign trade.

Observe the following table and answer the questions:

1. Fill in the blanks in the above schedule.
2. Derive the equilibrium price from the above schedule with the help of a suitable diagram.

Identify and explain the following concept:

Rajendra has a total stock of 500 gel pens in his shop which includes the 200 gel pens produced in the previous financial year.

Observe the following table and answer the questions given below it.

1. Which organization has the least share in the direction of India's imports in 2015-16?
2. Which organization has maximum share in India's direction of imports in 1990-91?
3. Expand the abbreviations of OECD and OPEC.
4. State your opinion regarding the direction of India's imports.
5. How much is the percentage of increase in the imports of developing nations in 2015-16 as compared to 1990-91?

Statements related to weighted index number:

1. Suitable weights are assigned to various commodities.
2. It gives relative importance to the commodity in the group.
3. In most cases, quantities are used as weights.
4. Laaspeyre’s Price index and Paasche’s Price Index are methods of constructing weighted index number.

Choose the correct option.

Precautions to be taken while estimating national income by output method:

1. Only value of final goods and services must be taken in to account.
2. Indirect taxes included in the market prices are to be deducted.
3. Subsidies given by the government on certain products must be added.
4. Sale and purchase of second hand goods should be considered.

Choose the correct option.

Practical difficulties in the measurement of national income:

1. Illegal income
2. Problem of double counting
3. Inadequate and unreliable data
4. Valuation of inventories

Features of composition of India’s foreign trade:

1. Increasing share in Gross National Income
2. Increase in volume and value of trade
3. Division of labour and specialization
4. Stability in price level

Give economic term.

Net market value of all final goods and services produced within the territorial boundaries of a country during a period of one year –

Give an economic term:

Wear and tear of capital assets due to their use in the process of production.