CBSE Class-12 Economics: Questions 481 - 491 of 523

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Question number: 481

» Money and Banking » Money Creation

Essay Question▾

Describe in Detail

Explain the evolution of money.

Explanation

Stages for evolution of money:

(i) Commodity for Commodity: Commodity for Commodity is also known as Barter system in which goods were exchanged for goods and services were exchanged for services when there was not any other source of exchange in the economy known. But this system lead to the… (84 more words) …

Question number: 482

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

Essay Question▾

Describe in Detail

Calculate Net value Added at factor cost from the following data:

Calculate Net value Added at factor cost

Find Net value Added at factor cost

-

( Rs. Lakhs)

Depreciation

20

Intermediate cost

90

Subsidy

5

Sales

140

Exports

7

Change in stock

(-) 10

Imports of raw materials

3

Explanation

Net value Added at factor cost = Sales + Change in stock - Depreciation + Subsidy- Intermediate cost

= 140+(10)20+590

= 1401020+590

= Rs. 25 Lakhs

Question number: 483

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

Define ‘Production function’.

Question number: 484

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

Write in Short

Give meaning of Revenue

Question number: 485

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Calculate ‘total variable cost’ and ‘total cost’ from the following cost schedule of a firm whose fixed costs are Rs. 10.

Calculate total variable cost and total cost

Calculation of total variable cost and total cost in detail

Output (Units)

1

2

3

4

Marginal Cost (Rs):

6

5

4

6

Explanation

Calculate total variable cost and total cost

Calculation of total variable cost and total cost in detail

Output (units)

Marginal cost (RS)

Fixed cost

Total variable cost

Total cost

1

6

10

6

16

2

5

10

11

21

3

4

10

15

25

4

6

10

21

31

In… (36 more words) …

Question number: 486

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

What does a rightward shift of production possibility curve indicate?

Question number: 487

» Producer Behaviour and Supply » Producer's Equilibrium

Essay Question▾

Describe in Detail

Explain producer’s equilibrium with the help of a diagram.

Explanation

Producer’s equilibrium: - Equilibrium refers to a state of rest when no change is required. A firm (producer) is said to be in equilibrium when it has no inclination to expand or to contract its output. This state either reflects maximum profits or minimum losses.

The producer's Equilibrium

The Producer’S Equilibrium

This image… (99 more words) …

Question number: 488

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Explain the relation between marginal cost and average cost.

Explanation

Relationship between Marginal cost and Average cost is:

Both marginal cost and Average cost are obtain from Total cost and Average cost refers to Total cost per unit of output and marginal cost refers to addition to total cost when one more unit of output is composed and both Average… (118 more words) …

Question number: 489

» Producer Behaviour and Supply » Supply » Supply Schedule

Short Answer Question▾

Write in Short

Give meaning of Supply

Question number: 490

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

Give meaning of Production function

Question number: 491

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Give meaning of Cost

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