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Chapters
1: Micro and Macro Economics - An Introduction
2: Demand and Law of Demand
3: Elasticity of Demand
4: Theory of Consumer's Behaviour : Cardinal Utility Analysis
5: Theory of Consumer's Behaviour : Indifference Curve Analysis
6: Supply and Law of Supply
7: Revenue Analysis
8: Cost Theory Analysis
9: Forms of Market
10: Concept of Production and Law of Returns
11: Equilibrium of Firm and Industry Under Perfect Competition
12: Producer's Equilibrium Under Perfect Competition
13: Price Output Under Perfect Competition
14: Price Output Determination Under Monopoly
15: Price Output Determination Under Monopolistic Competition and Oligopoly
Unit 2 : Theory of Income and Employment
16: Basic Concepts of Macro Economics
17: Aggregate Demand and Supply - Determinants of Equilibrium
18: Consumption Function {Propensity to Consume)
19: Concept of Investments-Types and Determinants
20: Multiplier - I : Static and Dynamic
21: Full Employment and Voluntary Unemployment
22: Problems of Deficient Demand and Excesss Demand
23: Measures to Correct Deficient and Excess Demand
Unit 3 : Money and Banking
24: Money - An Introduction
25: Bank and Commercial Bank
26: Central Bank
Unit 4 : International Trade
27: Balance of Payments
28: Foreign Exchange Rate
Unit 5 : Public Finance
29: Fiscal Policy
30: Budget
Unit 6 ; National Income
▶ 31: National Income and Circular Flow of Income
32: Concepts of National Income
33: Measurement of National Income
34: National Income and Economic Welfare
![R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC chapter 31 - National Income and Circular Flow of Income - Shaalaa.com](/images/economics-english-class-12-isc_6:0ec86a6424ae41d2b0d71f72fec46101.jpg "R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC chapter 31 - National Income and Circular Flow of Income")
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Solutions for Chapter 31: National Income and Circular Flow of Income
Below listed, you can find solutions for Chapter 31 of CISCE R. K. Lekhi and P. K. Dhar for Economics [English] Class 12 ISC.
R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC 31 National Income and Circular Flow of Income TEST QUESTIONS [Pages 31.14 - 31.15]
SHORT ANSWER QUESTIONS
In which terms can the value of national income be measured?
Define national income.
Give Keynesian definition of national income.
Give Prof. Shapiro’s definition of national income.
Explain the importance of national income.
What is circular flow of income?
Explain two-sector economy.
Give any one assumption of two-sector economy.
How many units are included in three-sector economy?
What is added in four-sector economy?
Give the meaning of real flow.
What is money flow?
Explain two sector model.
What is meant by Four-Sector Model?
Explain three phases of a circular flow.
What is meant by injection?
What is meant by withdrawals (leakages)?
SHORT ANSWER QUESTIONS
Give the relationship between money national income and real national income.
Define the national income according to classical economists.
What is ‘National income’?
Give significance of national income.
State the circular flow of income in different sectors of the economy. To what extent is its study useful for national economy?
Make a detailed study of circular flow of national income in two-sector economy.
Make a detailed study of circular flow of national income in three-sector economy.
Draw a well labelled diagram and explain the circular flow of income in a four-sector model.
Draw a diagram to show the real flow and money flow of income in a two-sector model of circular flow of income.
Make a detailed study of circular flow of national income in three-sector economy.
Draw a well labelled diagram and explain the circular flow of income in a four-sector model.
R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC 31 National Income and Circular Flow of Income EXAMINATION CORNER [Pages 31.15 - 31.16]
Draw a diagram to show the real flow and money flow of income in a two-sector model of circular flow of income.
Distinguish between real flows and money flows.
What is double counting of national income?
Classify the following as a final or intermediate good. Give reasons for your answer.
A car purchased by a company for business purposes.
Classify the following as a final or intermediate good. Give reasons for your answer.
Pen or Paper used by a consumer.
Discuss the problem of double counting in the estimation of national income. How is this problem resolved?
Draw a diagram to show the real flow and money flow of income in a two-sector model of circular flow of income.
With the help of a diagram, show the circular flow of income in a two-sector model with savings and investment.
Show with the help of a diagram various flows of income in a two-sector model with leakages and injections.
Describe with the help of a diagram various flows of money in a closed economy.
Show with the help of a diagram various flows of income in a two-sector model with leakages and injections.
Solutions for 31: National Income and Circular Flow of Income
R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC chapter 31 - National Income and Circular Flow of Income
Shaalaa.com has the CISCE Mathematics Economics [English] Class 12 ISC CISCE solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. R. K. Lekhi and P. K. Dhar solutions for Mathematics Economics [English] Class 12 ISC CISCE 31 (National Income and Circular Flow of Income) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
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Concepts covered in Economics [English] Class 12 ISC chapter 31 National Income and Circular Flow of Income are Circular Flow of Income, Economic Sectors of an Economy, Two-Sector Model without Savings and Investment, Two-Sector Model with Savings and Investment, Three-Sector Model of Circular Flow of Income, Domestic Income, National Income Aggregates, Circular Flow in a Closed Economy, Circular flow and the Equality between Production, Income and Expenditure, Circular Flow in a Open Economy, Concept of National Income, Four-Sector Model of Circular Flow of Income, Significance or Importance of National Income, Significance or Importance of Circular Flow of Income.
Using R. K. Lekhi and P. K. Dhar Economics [English] Class 12 ISC solutions National Income and Circular Flow of Income exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in R. K. Lekhi and P. K. Dhar Solutions are essential questions that can be asked in the final exam. Maximum CISCE Economics [English] Class 12 ISC students prefer R. K. Lekhi and P. K. Dhar Textbook Solutions to score more in exams.
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