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Micheal Vaz solutions for 12th Board Exam Economics chapter 14 - Public Economics

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Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Chapter 14: Public Economics

Exercise

Chapter 14: Public Economics Exercise Exercise solutions [Page 129]

Exercise | Q 1.1 | Page 129

Fill in the blank with appropriate alternatives given below:

The term budget is derived from __________ word Bougette

  • Latin

  • French

  • Germen

  • Greek

Exercise | Q 1.2 | Page 129

Fill in the blank with appropriate alternatives given below

 __________ is an example of direct tax.

  • Excise duty

  • Wealth tax

  • Sales tax

  • Gifts

Exercise | Q 1.3 | Page 129

Fill in the blank with appropriate alternatives given below

When Government revenue exceeds, government expenditure it is known as __________ budget.

  • surplus

  • balanced

  • deficit

  • unbalanced

Exercise | Q 1.4 | Page 129

Fill in the blank with appropriate alternatives given below

During depression, __________ budget is preferable.

  • balanced

  • surplus

  • deficit

  • zero

Exercise | Q 2 | Page 129

Match the following groups: 

Group A Group B
1. Deficit budget  a. Tax revenue
2. Government budget b. Capital receipts
3. Fees, license fee   c. Irrigation
4. Borrowings d. Non-tax revenue
5. Plan expenditure e. One year
    f. Government expenditure > Government revenue
    g.

Two years

Exercise | Q 3.1 | Page 129

State whether the following statement is true or false. 

The budget is a monthly statement. 

  • True

  • False

Exercise | Q 3.2 | Page 129

State whether the following statement is true or false. 

Fiscal policy is related to public revenue and public expenditure. 

  • True

  • False

Exercise | Q 3.3 | Page 129

State whether the following statement is true or false. 

Indirect taxes are paid directly by people to the government. 

  • True

  • False

Exercise | Q 3.4 | Page 129

State whether the following statement is true or false. 

Financial year in India is from 1st March to 28th February. 

  • True

  • False

Chapter 14: Public Economics Exercise Exercise solutions [Page 129]

Exercise | Q 1.1 | Page 129

Define or Explain.

Fine and Penalty 

Exercise | Q 1.2 | Page 129

Define or Explain.

Budget 

Exercise | Q 1.3 | Page 129

Define or Explain.

Plan expenditure 

Exercise | Q 1.4 | Page 129

Define or Explain.

Recovery of Debt 

Exercise | Q 2.1 | Page 129

Give reason of Explain the statement 

Income collected from tax is a main source of government revenue.

Exercise | Q 2.2 | Page 129

Give reason of Explain the statement 

Revenue receipts and Revenue expenditure is known as Revenue Budget. 

Exercise | Q 2.3 | Page 129

Give reason of Explain the statement 

Government revenue is more than government expenditure. 

Chapter 14: Public Economics Exercise Exercise solutions [Page 129]

Exercise | Q 1.1 | Page 129

Distinguish between:

Revenue budget and capital budget 

Exercise | Q 1.2 | Page 129

Distinguish between:

Direct tax and indirect tax 

Exercise | Q 1.3 | Page 129

Distinguish between:

Deficit budget and balanced budget 

Exercise | Q 2.1 | Page 129

Write short note on:

Capital expenditure 

Exercise | Q 2.2 | Page 129

Write short note on:

Revenue receipts 

Chapter 14: Public Economics Exercise Exercise solutions [Page 130]

Exercise | Q 1 | Page 130

Answer the following question

What are the main components of budget? 

Exercise | Q 2 | Page 130

Answer the following question
What are the source of non-tax revenue? 

Exercise | Q 3 | Page 130

Answer the following question
Explain the government’s development and non development expenditure. 

Chapter 14: Public Economics Exercise Exercise solutions [Page 130]

Exercise | Q 1.1 | Page 130

State with reason whether you agree or disagree with the following statement.

Capital budget consists of revenue receipts and revenue expenditure. 

Exercise | Q 1.2 | Page 130

State with reason whether you agree or disagree with the following statement.

When government expenditure is greater than government revenue, it is called Surplus Budget. 

Exercise | Q 1.3 | Page 130

State with reason whether you agree or disagree with the following statement.

During the period of inflation, Surplus Budget is advisable. 

Chapter 14: Public Economics Exercise Exercise solutions [Page 130]

Exercise | Q 1.1 | Page 130

Answer in detail : 

Explain the concept of Balanced Budget. 

Exercise | Q 1.2 | Page 130

Answer in detail: 

Explain capital receipts and capital expenditure as a part of Capital Budget. 

Chapter 14: Public Economics

Exercise

Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Micheal Vaz solutions for 12th Board Exam Economics chapter 14 - Public Economics

Micheal Vaz solutions for 12th Board Exam Eco chapter 14 (Public Economics) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Micheal Vaz Class 12 Economics solutions in a manner that help students grasp basic concepts better and faster.

Further, we at Shaalaa.com provide such solutions so that students can prepare for written exams. Micheal Vaz textbook solutions can be a core help for self-study and acts as a perfect self-help guidance for students.

Concepts covered in 12th Board Exam Economics chapter 14 Public Economics are Introduction of Public Economics, Features of Public Economics, Meaning of Government Budget, Objectives of Government Budget, Features of Government Budget, Public Economics - Budget (1 Year)(1 April to 31 March), Types of Budget, Taxable Income, Budgetary Accounting in India, Budgetary Accounting - Consolidated , Contingency and Public Fund, Components of Budget, Factor Influencing Government Budget.

Using Micheal Vaz 12th Board Exam solutions Public Economics exercise by students are an easy way to prepare for the exams, as they involve solutions arranged chapter-wise also page wise. The questions involved in Micheal Vaz Solutions are important questions that can be asked in the final exam. Maximum students of Maharashtra State Board 12th Board Exam prefer Micheal Vaz Textbook Solutions to score more in exam.

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