CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics: Questions 347 - 356 of 523

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Question number: 347

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table:

Output (units)

Average Revenue

Marginal revenue

Total revenue

1

-

15

-

2

-

-

26

3

11

-

-

4

-

3

-

Explanation

Output (units)

Average Revenue

Marginal revenue

Total revenue

1

15

15

15

2

13

11

26

3

11

7

33

4

9

3

36

In that sum

Average revenue = Equation

And Total Revenue = Equation

Here Equation

In that sum only second row is given total revenue so, Equation

… (25 more words) …

Question number: 348

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

Essay Question▾

Describe in Detail

Explain the Law of Variable Proportions through the behavior of both Total Product and Marginal Product. Give reasons.

Explanation

Law of variable proportion is that as more and more of variable factor is used with fixed factors. When marginal product of variable factor starts decreasing. Decreasing Marginal product is zero or negative.

the behavior of both Total Product and Marginal Product

The Behavior of Both Total Product and Marginal Product

This image of the behavior of both Total

… (125 more words) …

Question number: 349

» National Income and Related Aggregates » National Disposable Income

Essay Question▾

Describe in Detail

Give reasons and explain how the following are treated while estimating national income:

(i) Payment of fees to a lawyer engaged by a firm.

(ii) Rent free house to and employee by an employer.

(iii) Purchases by foreign tourists.

Explanation

(i) Payment of fees to a lawyer engaged by a firm: - It is central expenditure for the company it’s reason is that it involve purchase of services by single production unit from to another production unit. so, it is not included in national income.

(ii) Rent free house to

… (55 more words) …

Question number: 350

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

Short Answer Question▾

Write in Short

Define deflationary gap.

Question number: 351

» Producer Behaviour and Supply » Supply » Market Supply

Short Answer Question▾

Write in Short

What is market supply’?

Question number: 352

» Government Budget and the Economy » Measures of Government Deficit

Essay Question▾

Describe in Detail

What is ’fiscal deficit? What are its implications?

Explanation

Fiscal deficit is defined as excess of total expenditure and total receipts excluding borrowings.

Its formula is Fiscal Deficit = Total Expenditure – Total Receipts other then borrowing and other liabilities.

The implications of fiscal deficits are: -

(1) Causes inflation

(2) Growing indebtedness

(3) Reduces future growth and development

… (15 more words) …

Question number: 353

» Market and Price Determination » Monopolistic Competition

Essay Question▾

Describe in Detail

Explain the implications of the following:

(i) The feature ‘differentiated product’ under monopolistic competition.

(ii) The feature ‘large number of sellers’ under perfect competition.

Explanation

(i) The feature ‘differentiated product’ under monopolistic competition.

some generation in position to perform some degree of monopoly with product differeentiation.

In Production differentiation differentiating the products on brand, color, size. The product of firm is close and it is not perfect subtitute of other firm.

This implication is buyers

… (76 more words) …

Question number: 354

» Determination of Income and Employment » Meaning & Types of Employment & Unemployment

Short Answer Question▾

Write in Short

Give meaning of full employment.

Question number: 355

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Explain the central problem ‘how to produce’.

Explanation

  • This problem occurs because there are many techniques available for production of commodity like for production of rice, we may use more labor and less capital or less labor more capital both this technique we can produce equal amount of rice.
  • The problem is that to how resources should be
… (52 more words) …

Question number: 356

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Calculate ‘intermediate consumption’ from the following data:

Calculate intermediate consumption

Find the intermediate consumption

-

( Rs. lakhs)

Value of output

200

Net value added at factor cost

80

Sales tax

15

Subsidy

5

Depreciation

20

Explanation

Intermediate consumption =

Value of output - Net value added at factor cost - Sales tax - Subsidy - Depreciation

= Equation

= Rs. 90 lakh

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