CBSE Class-12 Economics: Questions 146 - 157 of 523

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Question number: 146

» Consumer's Equilibrium and Demand » Demand » Market Demand

One Liner Question▾

Write in Brief

Give meaning of (1) demand, (2) normal good and (3) inferior good

Question number: 147

» Balance of Payments » Balance of Payments Account

One Liner Question▾

Write in Brief

Give two examples of macroeconomic studies.

Question number: 148

» Introductory Microeconomics » Meaning of Microeconomics and Macroeconomics

One Liner Question▾

Write in Brief

What is macroeconomics?

Question number: 149

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Give meanings of capital receipts and revenue receipts with an example of each.

Explanation

Capital Receipts: - Capital receipts are the one which creates liability and reduce asset. It is categorized as:

(1) Recovery of loans: - It is reducing the assets of government.

(2) Borrowings: -Funds are raised through government from the borrowing as a capital receipts.

(3) Other receipts: - Funds raised… (84 more words) …

Question number: 150

» Market and Price Determination » Monopolistic Competition

Essay Question▾

Describe in Detail

State three features of monopolistic competition.

Explanation

Features are given below: -

(1) Large Number of Sellers: - Large number of companies selling related goods but these are not homogeneous products. Each company is independent and it has limited share of market. Large number of company conduct to competition in market

(2) Selling Cost: - In monopolistic… (79 more words) …

Question number: 151

» Producer Behaviour and Supply » Supply » Market Supply

Essay Question▾

Describe in Detail

Explain the effect of technical progress on the supply of a good.

Explanation

A cost saving technological process will reduce the marginal cost of production leading to a downward shift in marginal cost curve and since, the MC curve is the same as the supply curve of the firm, downward shift in MC curve implies a downward shift in supply curve. Hence, supply… (70 more words) …

Question number: 152

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Explain the conditions leading to profit maximization by a producer. Use total cost and total revenue approach.

Explanation

Producer is earning maximum profits. Profit is the difference between total revenue and total cost. Producer is in equilibrium at that level of output he is earning maximum profits. If produces less than he does not maximize total profits.

Total cost and Total Revenue curves: -

Profit is the difference… (92 more words) …

Question number: 153

» Money and Banking » Central Bank & Its Functions » Bank of Issue

Essay Question▾

Describe in Detail

What is bank rate policy? How does it work as a method of credit control?

Explanation

Bank rate refer to the rate at which central bank discount the bills which are presented by the commercial bank as funds.

Credit control of bank has two types:

Quantitative credit control and Qualitative credit control

In that establish the economy by destroying the features which are responsible for increase… (8 more words) …

Question number: 154

» National Income and Related Aggregates » Types of Goods

Essay Question▾

Describe in Detail

Given the market price of a good how does a consumer decide as to how many units of that good to buy? Explain.

Explanation

How much goods to purchase at given price is decided by a consumer by comparing Marginal utility (MU) of good with its price (P). Marginal utility of good which is equal to price of good. MUx = Px

market price of a good

Market Price of a Good

This image of market… (48 more words) …

Question number: 155

» Producer Behaviour and Supply » Cost

One Liner Question▾

Write in Brief

Why is a production possibility curve concave?

Question number: 156

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2011

Short Answer Question▾

Write in Short

Define budget set.

Question number: 157

» Producer Behaviour and Supply » Supply » Elasticity of Supply

Appeared in Year: 2006

Essay Question▾

Describe in Detail

The price elasticity of supply of a commodity is 2. When its price falls from Rs. 10 to Rs. 8 per unit, its quantity supplied falls by 500 units. Calculate the quantity supplied at the reduced price.

Explanation

Assume quantity supplied be x units.

calculate the quantity supplied at the reduced price.

calculate the quantity supplied at the reduced price in detail

Price (P)

Quantity (Q)

10

X

8

x-500

Elasticity of supply of a commodity is 2

P = 10 Q = X

So, P =… (62 more words) …

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