CBSE Class-12 Economics: Questions 398 - 408 of 523

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Question number: 398

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

Essay Question▾

Describe in Detail

With the help of a diagram explain the effect of “decrease” in demand of a commodity on its equilibrium price and quantity.

Explanation

The effect of decrease in demand of commodity on its equilibrium price and quantity has two categories:

(A) Under short – run with fixed number of firms

(B) Under long-run with free entry and exit of firms

Under short – run with fixed number of firms: -

The effect of “decrease” in demand

The Effect of… (182 more words) …

Question number: 399

» Producer Behaviour and Supply » Supply » Supply Schedule

Short Answer Question▾

Write in Short

How is the supply of commodity affected by changes in the prices of other commodities? Explain.

Question number: 400

» Market and Price Determination » Market Equilibrium

Essay Question▾

Describe in Detail

Define equilibrium price of commodity. How is it determined? Explain with the help of schedule.

Explanation

Equilibrium price means market demand and market supply are equal and intersect market demand and market supply.

Its schedule is given below:

Price (Rs)

Market Demand

Market Supply

10

35

2

20

30

5

30

25

10

40

20

13

50

15

15

In this schedule price increases when Market… (37 more words) …

Question number: 401

» Introductory Microeconomics » What Is an Economy?

Short Answer Question▾

Write in Short

Why does an economic problem arise?

Question number: 402

» Producer Behaviour and Supply » Revenue

True-False▾

Following Statement is true or false:

When total revenue is maximum, marginal revenue is also maximum.

Question number: 403

» Determination of Income and Employment » Propensity to Consume and Propensity to Save

Short Answer Question▾

Write in Short

What is the relationship between marginal propensity to save and multiplier?

Question number: 404

» National Income and Related Aggregates » National Disposable Income

Essay Question▾

Describe in Detail

Giving reasons explain how the following are treated while estimation of 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 it involve purchase of services by single production unit to another production unit. so, it is not included in national income.

(ii) Rent free house to and employee… (53 more words) …

Question number: 405

» National Income and Related Aggregates » Types of Goods

Short Answer Question▾

Write in Short

What is meant by inferior good in economics?

Question number: 406

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Give the meaning of opportunity cost.

Question number: 407

» Determination of Income and Employment » Propensity to Consume and Propensity to Save

Short Answer Question▾

Write in Short

Can the value of average propensity to save be negative? If yes, when?

Question number: 408

» National Income and Related Aggregates » Net National Product

Short Answer Question▾

Write in Short

Calculate net value added at factor cost from the following data:

-

Rs. In Crores

(I) Purchase of machinery to be used in the production unit

100

(ii) Sales

200

(iii) Intermediate costs

90

(iv) Indirect taxes

12

(v) Change in stock

10

(vi) Excise duty

6

(vii) Stock of raw material

5

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