CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics: Questions 415 - 424 of 523

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Question number: 415

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

Essay Question▾

Describe in Detail

How is the price elasticity of demand of a commodity affected by the number of its substitutes? Explain.

Explanation

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Question number: 416

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Define fixed cost

Question number: 417

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

Short Answer Question▾

Write in Short

What is meant by excess demand in macroeconomics?

Question number: 418

» Producer Behaviour and Supply » Supply » Supply Curve

Essay Question▾

Describe in Detail

Explain the effect of fall in prices of other goods on the supply of a given good

Explanation

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Question number: 419

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

Essay Question▾

Describe in Detail

Complete the following table:

Income

Consumption

Marginal Propensity to save

Average Propensity to Consume

0

12

20

26

-

-

40

40

-

-

60

54

-

-

Explanation

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Question number: 420

» Balance of Payments » Balance of Payments Account

Essay Question▾

Describe in Detail

List the items of current account of balance of payments account. Also define ‘Balance of trade’.

Explanation

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Question number: 421

» Producer Behaviour and Supply » Production Function

True-False▾

Following Statement is true or false:

Total product will increase only when marginal product increase

Question number: 422

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Explain the basis of classifying government receipts into revenue receipts and capital receipts. Give two example of each.

Explanation

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Question number: 423

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Why is average total cost greater than average variable cost?

Question number: 424

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

From the following schedule find out the level of output at which the producer is in equilibrium. Give reason for your answer.

Output (units)

Price ( Rs. )

Total cost

1

24

26

2

24

50

3

24

72

4

24

92

5

24

115

6

24

139

7

24

165

Explanation

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