CBSE Class-12 Economics: Questions 249 - 258 of 523

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Question number: 249

» Producer Behaviour and Supply » Supply » Supply Schedule

Essay Question▾

Describe in Detail

Give meaning of money supply, State its components.

Explanation

Meaning of money supply: - Money supply is the total stock of money moving in an economy. The moving money involves the currency, printed notes, money in the deposit accounts and in the form of other liquid assets.

Its components are given below:

(1) Currency arrange by the public

(2)… (36 more words) …

Question number: 250

» Government Budget and the Economy » Government Budget

Essay Question▾

Describe in Detail

Distinguish between Balanced budget and surplus budget

Explanation

Distinguish between Balanced budget and surplus budget

In detail explain distinguish between Balanced budget and surplus budget

characteristics

Balanced budget

surplus budget

Definition

Balanced budget imply that current revenue and current expenditure both are equal.

Surplus budget is when tax revenue is greater than government spending.

Formula

Balance budget =… (76 more words) …

Question number: 251

» Introductory Microeconomics » Meaning of Microeconomics and Macroeconomics

Short Answer Question▾

Write in Short

Define macroeconomics

Question number: 252

» Producer Behaviour and Supply » Supply » Determinants of Supply

Short Answer Question▾

Write in Short

Give the meaning of aggregate supply.

Question number: 253

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

Essay Question▾

Describe in Detail

Explain the ‘expenditure’ method of estimating national income.

Explanation

The expenditure method of measuring National Income is also called Income disposal Method. Expenditure method is a method which measures the final expenditure on gross private product at market price during an accounting year.

Then all privately produced goods and services are purchased for final use either by consumers for… (241 more words) …

Question number: 254

» Balance of Payments » Balance of Payments Account

Essay Question▾

Describe in Detail

Distinguish between the current account and the capital account of Balance of Payments. Is import of machinery recorded in current account or capital account? Give reasons for your answer.

Explanation

Current account is part of balance of payment account which shows items of flow nature. Current account includes given items: -

(1) Imports and exports of goods.

(2) Imports and exports of services.

The capital account archives transactions moving foreign assets and foreign liabilities during a year.

So, import of… (13 more words) …

Question number: 255

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

Essay Question▾

Describe in Detail

What is ‘deficient demand’ in macroeconomics? Show diagramatically. Explain the role of open market operations in correcting

Explanation

Deficient Demand is generated when economy is operating below its full – employment capacity and situation arises in aggregate planned expenditure will fall short of aggregate supply or real income if full employment were to be achieved.

The amount, by which aggregate expenditure falls short of the level needed to… (105 more words) …

Question number: 256

» Introductory Microeconomics » Meaning of Microeconomics and Macroeconomics

Short Answer Question▾

Write in Short

Give two examples of microeconomic studies.

Question number: 257

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

Essay Question▾

Describe in Detail

Demand for electricity has “increased”. However supply cannot be increased due to lack of resources. Explain how, in any two ways, demand for electricity can be “decreased”.

Explanation

Demand for electricity decrease in following ways:

(1) Use energy saving electrical appliances: - In this decreasing demand for electricity. Government may charge high price for use of electricity during highest hours and low price during non-highest hours.

(2) Use alternate sources of energy like solar energy: - Government may… (19 more words) …

Question number: 258

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Identify the three phases of the Law of Variable Proportions from the following and also give reason behind each phase:

Law of Variable Proportions

Find Law of Variable Proportions

Unit of variable input

Total physical product

1

10

2

22

3

30

4

35

5

30

Explanation

Law of Variable Proportions

Phase of Law of Variable Proportions

Units of variable Input

Total Physical product

Average physical product

Marginal physical product

1

10

10

10

2

22

11

12

3

30

10

8

4

35

8.75

5

5

30

6

-5

Here, Average Physical product = Total Physical… (78 more words) …

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