CBSE Class-12 Economics: Questions 226 - 230 of 523

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Question number: 226

» National Income and Related Aggregates » Gross National Product

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Find out (A) Gross National product at market price and (B) Net current transfers from Abroad.

Gross National product at market price and Net current transfers from Abroad.

Calculate Gross National product at market price and Net current transfers from Abroad.

-

(Rs crore)

Net indirect tax

35

Private final consumption expenditure

500

Net national disposable income

750

Closing stock

10

Government final consumption expenditure

150

Net domestic fixed capital formation

100

Net factor income to abroad

(-15)

Net imports

20

Opening stock

10

Consumption of fixed capital

50

Explanation

Gross National product at market price = Private final consumption expenditure + Government final consumption expenditure + Net domestic fixed capital formation - Consumption of fixed capital - Net imports - Net factor income to abroad

= 500 + 150 + (100 – 50) -20 – (-15)

= 695rs crore… (46 more words) …

Question number: 227

» Producer Behaviour and Supply » Cost

Appeared in Year: 2012

Essay Question▾

Describe in Detail

A producer invests his own savings in starting of a business and employs a manager to look after it. Identify implicit and explicit costs from this information. Explain.

Explanation

Explicit Costs: paid directly in money - money costs. A firm incurs explicit costs when it pays for a factor of production at the same time it uses it.

  • Explicit Cost = payments by a firm to purchase the service of productive resources (wages, interest, rent, capital)
  • Implicit Costs: measured… (120 more words) …

Question number: 228

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

Appeared in Year: 2012

Short Answer Question▾

Write in Short

What are demand deposits?

Question number: 229

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

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Explain the concept of ‘exceeds demand in macroeconomics also explain the role of ‘open market operation’ in correcting it.

Explanation

Excess demand occur if aggregate demand for output is full employment level of output.

If Equation > Equation Excess demand indicate aggregate demand for output which is more than full employment of output. Excess aggregate demand is the deference between aggregate demand and full employment level of demand. This is… (124 more words) …

Question number: 230

» Producer Behaviour and Supply » Revenue

Appeared in Year: 2012

Short Answer Question▾

Write in Short

What is the behavior of average revenue in a market in which a firm can sell more only by lowering the price?

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