CBSE Class-12 Economics: Questions 178 - 183 of 523

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Question number: 178

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

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Using indifference curves approach, explain the conditions of consumer’s equilibrium.

Explanation

Understanding Consumer’s Equilibrium by Indifference Curve Analysis:

Consumer equilibrium refers to a situation, in which a consumer derives maximum satisfaction, with no intention to change it and subject to given prices and his given income. The point of maximum satisfaction is achieved by studying indifference map and budget line together.… (509 more words) …

Question number: 179

» Producer Behaviour and Supply » Revenue

Appeared in Year: 2010

True-False▾

Following Statement is true or false:

When total revenue is constant average revenue will also be constant.

Question number: 180

» National Income and Related Aggregates » Methods of Calculating National Income » Income Method

Appeared in Year: 2006

Essay Question▾

Describe in Detail

calculate national income.

calculate national income by income method and expenditure method

-

Rs. (in Crores)

Private final consumption expenditure

2000

Net capital formation

400

Change in stock

50

Compensation of employees

1900

Rent

200

Interest

150

Operating surplus

720

Net indirect tax

400

Employers’ contribution to social security schemes

100

Net Exports

20

Net factor income from abroad

(-20)

Government final consumption expenditure

600

Consumption of fixed capital

100

Explanation

(A) Income method

National income = Operating surplus + Compensation of employees + Net factor income from abroad

= 720 + 1900 + (-20)

= Rs. 2600 crores

Expenditure Method = Private final consumption expenditure + Net capital formation + Government final consumption expenditure + Net exports - Net indirect… (23 more words) …

Question number: 181

» Determination of Income and Employment » Propensity to Consume and Propensity to Save

Appeared in Year: 2011

Essay Question▾

Describe in Detail

Given that national income is Rs. 80 crore and consumption expenditure Rs. 64 crore, find out average propensity to save. When income rises to Rs. 100 crore and consumption expenditure to Rs. 78 crore, what will be the average propensity to consume and the marginal propensity to consume?

Explanation

National Income Y = 80

Consumption Expenditure C = 64

Average propensity to consume= SY = CYY

806480 = 0.2

Here Y = 100

C = 78

Average propensity to consume= CY = 78100 =0.78

Marginal propensity to consume= ΔC… (13 more words) …

Question number: 182

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2006

One Liner Question▾

Write in Brief

When a good is called an ‘inferior good’?

Question number: 183

» Government Budget and the Economy » Government Budget

Appeared in Year: 2010

Essay Question▾

Describe in Detail

How can Government budget be helpful in altering distribution of income in an economy? Explain.

Explanation

The government complete its budgetary policy goes to distribution of income in the economy. The government goals to promote fair and right distribution of income in an economy.

This is done by taxation and expenditure policy. By its taxation policy the government taxes the higher income groups in the economy.… (45 more words) …

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