CBSE Class-12 Economics: Questions 164 - 171 of 523

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Question number: 164

» Market and Price Determination » Market Types

Appeared in Year: 2011

Short Answer Question▾

Write in Short

When a firm is called ‘price-taker’?

Question number: 165

» Introductory Microeconomics » What Is an Economy?

Appeared in Year: 2011

Short Answer Question▾

Write in Short

What is market economy?

Question number: 166

» National Income and Related Aggregates » Gross National Product

Appeared in Year: 2005

Essay Question▾

Describe in Detail

From the following data about firm ‘X’, calculate gross value added at factor cost:

calculate gross value added at factor cost

calculate gross value added at factor cost wih details

-

Rs. (in thousand)

Sales

500

Opening stock

30

Closing stock

20

Purchase of intermediate produce

300

Purchase of machinery

150

Subsidy

40

Explanation

Gross value added at factor cost by firm ‘X’ = Sales + Closing stock -

Opening stock + Subsidy - Purchase of intermediate produce

= 500 + 20 – 30 + 40 – 300

= 230 Rs.

Question number: 167

» National Income and Related Aggregates » Types of Goods

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain the basis of classifying goods into intermediate and final goods. Give suitable examples

Explanation

Goods are allocated as intermediate goods.

Final goods: - Final goods are goods that are used by consumers. Goods that pass the complete stages of production and transformation which is required to make it consumable. For example: - When we purchase milk for consumption.

Intermediate goods: - This type of… (30 more words) …

Question number: 168

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

Appeared in Year: 2010

Short Answer Question▾

Write in Short

Explain the ‘lender of last resort’ function of the Central Bank.

Question number: 169

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2011

Essay Question▾

Describe in Detail

Explain the three properties of indifference curves

Explanation

Indifference curve properties are given below:

(i) The slope of an indifference curve is negative, downward sloping, and from left to right. It means that the consumer to be indifferent to all the combinations on an indifference curve must leave less units of good Y in order to have more… (233 more words) …

Question number: 170

» Consumer's Equilibrium and Demand » Demand » Elasticity of Demand

Appeared in Year: 2011

Short Answer Question▾

Write in Short

8 units of a good are demanded at a price of Rs. 7 per unit. Price elasticity of demand is (-) 1. How many units will be demanded if the price rises to Rs. 8 per unit? Use expenditure approach of price elasticity of demand to answer this question.

Question number: 171

» National Income and Related Aggregates » Private Income

Appeared in Year: 2006

Essay Question▾

Describe in Detail

From the following data calculate:

a. Private income, and b. Personal disposable income

calculate Private income and Personal disposable income

calculate Private income and Personal disposable income details.

( Rs. in lakhs)

Income from domestic product accruing to the private sector

4000

Savings of non-departmental public enterprises

200

Current transfers from government administrative departments

150

Savings of private corporate sector

400

Current transfers from rest of the world

50

Net factor income from abroad

(-40)

Corporation tax

60

Direct personal taxes

140

Explanation

(A) Private income = Income from domestic product accruing to the private sector + Current transfers from government administrative departments + Current transfers from rest of the world + Net factor income from abroad

= 4000 + 150 + 50 + (-40)

= Rs. 4160 lakhs

(B) Personal disposable income… (28 more words) …

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