CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics: Questions 276 - 284 of 523

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Question number: 276

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Distinguish between ‘fiscal deficit’ and ‘revenue deficit’. What does fiscal deficit indicate?

Explanation

Distinguish between fiscal deficit and revenue deficit.

Distinguish between fiscal deficit and revenue deficit in detail.

Characteristics

Fiscal deficit

Revenue deficit

Meaning

Fiscal deficit is defined as excess of total expenditure over total receipts excluding borrowing.

Revenue deficit refers to the excess of revenue expenditure of the government over its revenue receipts.

… (47 more words) …

Question number: 277

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

Write in Short

Explain the relation between marginal revenue and total revenue.

Question number: 278

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

Essay Question▾

Describe in Detail

Distinguish between Individual demand schedule and Market demand schedule.

Explanation

Distinguish between Individual demand schedule and Market demand schedule

In detail Individual demand schedule and Market demand schedule difference.

Individual demand schedule

Market demand schedule

An individual demand schedule means it deferent quantities of a commodity bought by an individual consumer at different possible prices

A market demand schedule is the addition of individual demand schedules for a definite commodity

… (67 more words) …

Question number: 279

» National Income and Related Aggregates » Types of Goods

Essay Question▾

Describe in Detail

Distinguish between the Normal good and Inferior good

Explanation

Distinguish between Normal good and Inferior good

In detail Normal good and Inferior good difference.

Normal good

Inferior good

Consumption of normal goods increase with the increase in the income of the consumer.

Consumption of inferior goods increase with the decrease in the income of the consumer.

Normal goods are the goods of daily importance and use, with a normal level of quality

Inferior goods are the goods that are very low in quality.

… (61 more words) …

Question number: 280

» Money and Banking » Money and Functions

Essay Question▾

Describe in Detail

Give meaning of money. Explain its ‘medium of exchange’ function

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.

Medium of exchange: -

A medium of exchange is used in trade to remove the not convenience of a barter system.

A medium of excha

… (211 more words) …

Question number: 281

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

Give one reason for a rightward shift of the Production Possibility Curve

Question number: 282

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

What is meant by cost in economics?

Question number: 283

» Market and Price Determination » Perfect Competition

Essay Question▾

Describe in Detail

Explain briefly the three features of perfect competition.

Explanation

1. Homogenous Product: In this case, all sellers produce homogeneous i. e. perfectly identical products. All products are perfectly same in terms of size, shape, taste, color, ingredients, quality, trademarks etc. This ensures the existence of single price in the market.

2. Perfect Knowledge: On the front of both, buyers and sellers, perfect kn

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Question number: 284

» National Income and Related Aggregates » Private Income

Essay Question▾

Describe in Detail

Calculate ’ Net National product at Market price’ and ‘private income’ from the following data:

Calculate Net National product at Market price and private income

Calculate Net National product at Market price and private income in detail

-

rs In crore

Net factor income from abroad

(-) 5

Private final consumption expenditure

100

Personal tax

20

Gross national disposable income

170

Government final consumption expenditure

20

Corporation tax

15

Gross domestic capital formation

30

Personal disposable income

70

Saving of private corporate sector

(-) 10

Net exports

5

Net national disposable income

145

Explanation

Net National product at Market Price = Private final consumption expenditure + Gross domestic capital formation +

Personal tax + Net exports - Gross national disposable income - Net national disposable income + Net factor income from abroad

= 100 + 30 + 20 - 10 + 170 - 145 - 5

= RS 110 crore

Private income = Government final consumption e

… (12 more words) …

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