CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics: Questions 28 - 34 of 523

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Question number: 28

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

Short Answer Question▾

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Why is the consumer in equilibrium when he buys only that combination of the two goods that is shown at the point of tangency of the budget line with an indifference curve? Explain.

Question number: 29

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

Short Answer Question▾

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Explain how a consumer consuming two commodities X and Y attains equilibrium

under the utility approach.

Question number: 30

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

» Producer Behaviour and Supply » Supply » Elasticity of Supply

Short Answer Question▾

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There is a simultaneous ‘decrease’ in demand and supply of a commodity. When will it result in:

(a) No change in equilibrium price.

(b) A fall in equilibrium price.

Use Diagram.

Question number: 31

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

Short Answer Question▾

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Can an economy be in a state of under employment equilibrium? Explain with the help of a diagram.

Question number: 32

» Government Budget and the Economy » Government Budget

One Liner Question▾

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Distinguish between direct tax and indirect tax. Give an example of each.

Question number: 33

» Balance of Payments » Foreign Exchange Rate

Short Answer Question▾

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Give two reasons for a rise in demand for a foreign currency when its price falls.

Question number: 34

» Producer Behaviour and Supply » Supply » Elasticity of Supply

Short Answer Question▾

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Given below is the utility schedule of a consumer for commodity X.

The price of the commodity is Rs. 6 per unit. How many units should the consumer purchase to maximize satisfaction? (Assume that utility is expressed in utils and 1 util = Re. 1). Give reasons for your answer.

utility schedule of consumer for commodity X

shows the no. of units consumed and total and marginal utility

Consumption (units)

Total utility (utils)

Marginal utility (utils)

1

10

10

2

18

8

3

25

7

4

31

6

5

34

3

6

34

0

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