CBSE Class-12 Economics: Questions 409 - 414 of 523

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Question number: 409

» Producer Behaviour and Supply » Supply » Supply Curve

Short Answer Question▾

Write in Short

What causes a downward movement along a supply curve?

Question number: 410

» Producer Behaviour and Supply » Supply » Elasticity of Supply

Essay Question▾

Describe in Detail

Commodities X and Y have equal price elasticity of supply. The supply of X rises from 400 units to 500 units due to a 20 percent rise in its price. Calculate

Explanation

In this given Initial quantity supplied = 400 units and final quantity supplied = 500 units and rise in price = 20%

%change in quantity of x = Equation

= EquationEquation 100 = 25%

Elasticity of supply of X = Equation

Equation =1.25

Elasticity of supply of X =… (39 more words) …

Question number: 411

» Balance of Payments » Balance of Payments Account

Essay Question▾

Describe in Detail

How will you treat the following while estimating domestic factor income of India? Give reasons for your answer.

(i) Remittances from non-resident Indians to their families in India.

(ii) Rent paid by the embassy of japan in India to a resident Indian.

(iii) Profits earned by branches of foreign bank in India.

Explanation

(I) Remittances from non-resident Indians to their families in India is not added in domestic factor income of India because its remittances from non-resident Indians to their families is unearned income as transfer payments.

(ii) Rent paid by the embassy of japan in India to a resident Indian is not… (57 more words) …

Question number: 412

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

Essay Question▾

Describe in Detail

Explain difference between ’decrease in demand”, and ‘decrease in quantity demanded’ with the help of a demand schedule. Give two cause of decrease in demand.

Explanation

Characteristics

Increase in demand

Increase in quantity demanded

Definition

(1) When demand rises due to change in factors than price is called increase in demand.

(1) When quantity demanded of a commodity rises due to fall in its own price it is called increase in quantity demanded.

What it indicates?… (144 more words) …

Question number: 413

» Market and Price Determination » Monopolistic Competition

Essay Question▾

Describe in Detail

Explain two points of distinction between monopoly and monopolistic competition.

Explanation

Characteristics

Monopoly competition

monopolistic competition

Number of Buyers and sellers

In this only single sellers and large number of buyers in demand.

In this large number of sellers and buyers both.

Nature of products

It is the main producer of the commodity in the market so it has no close… (14 more words) …

Question number: 414

» National Income and Related Aggregates » Gross and Net Domestic Product

Essay Question▾

Describe in Detail

Calculate “gross national product at factor cost” from the following data by (I) income method and (ii) Expenditure method:

Calculate gross national product at factor cost

Find gross national product at factor cost by (I) income method and (ii) Expenditure method:

-

( Rs. In crores)

Private final consumption expenditure

1000

Net domestic capital formation

200

Profits

400

Compensation of employees

800

Rent

250

Government final consumption expenditure

500

Consumption of fixed capital

60

Interest

150

Net current transfer from rest of the world

(-) 80

Net factor income from abroad

(-) 10

Net exports

(-) 20

Net indirect taxes

80

Explanation

(i) income method: -

Gross national product at factor cost = Profits + Compensation of employees + Rent + Interest + Net factor income from abroad

= 400 + 800 + 250 + 150 + 60 + (-10)

= Rs. 1650 crore

(ii) Expenditure method: -

gross national product at… (52 more words) …

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