CBSE Class-12 Economics: Questions 500 - 510 of 523

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Question number: 500

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

Short Answer Question▾

Write in Short

Give meanings of Full employment

Question number: 501

» Balance of Payments » Balance of Payments Account

Short Answer Question▾

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Name the items included in balance of trade account.

Question number: 502

» Money and Banking » Money and Functions

Essay Question▾

Describe in Detail

Give meaning of money. Explain the ‘store of value’ function of money.

Explanation

Money: - Money means medium of exchange and we all agree to accept in making transactions. For example merchants agree to accept money in exchange for their goods. Money provides simple device for identifying and communicating value.

Function of money is ‘store of value’: - Store a value is main… (144 more words) …

Question number: 503

» Market and Price Determination » Market Equilibrium

Essay Question▾

Describe in Detail

At a given price there is excess demand for a good. Explain how the equilibrium price will be reached. Use diagram.

Explanation

Market equilibrium is a one type of situation of the market in which demand for a commodity is equal to its supply so, in a state of equilibrium the market is at equilibrium there is neither excess demand nor excess supply. In this type of situation the price in the… (111 more words) …

Question number: 504

» Money and Banking » Commercial Banking System

Essay Question▾

Describe in Detail

Explain the ‘acceptance of deposits’ function of commercial banks.

Explanation

The most important function of commercial banks is to accept deposits from the public. Various sections of society and their needs and economic condition, deposit their savings with the banks.

The acceptance of deposits

The Acceptance of Deposits

This image is of acceptance of deposits

In that if savings are less than investment then… (156 more words) …

Question number: 505

» Market and Price Determination » Perfect Competition

Essay Question▾

Describe in Detail

Explain the following: (I) ‘Free entry and exit’ feature of perfect competition, (ii) ‘Differentiated products’ feature of monopolistic competition.

Explanation

(i) ‘Free entry and exit’ feature of perfect competition

Answer: - Features of ‘free entry and exit’ is given below:

In many markets are featured by big cost of entry and exit. Cost of exiting an industry can add things as pay for workers and entry in market it contain… (210 more words) …

Question number: 506

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

Essay Question▾

Describe in Detail

Give three sources each of demand and supply of foreign exchange.

Explanation

In that foreign exchange is required for purchasing goods and services from abroad and purchase assets from abroad. The supply of foreign exchange is related to sales of goods and services and export.

The supply of foreign exchange of a given country stems from the sale of foreign services and… (69 more words) …

Question number: 507

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

Short Answer Question▾

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Under employment equilibrium

Question number: 508

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

State the phases of the law of variable proportions in terms of total physical product and marginal physical product.

Explanation

Stage or phase of the law of variable proportion is given below:

(1) Increasing returns to the factor: -

It is first stage in that it is go from origin to destination means point where marginal product curve is maximum. In that stage total product is increasing at an increasing… (165 more words) …

Question number: 509

» Money and Banking » Money and Functions

Essay Question▾

Describe in Detail

What is ‘barter system’? Explain ‘standard of deferred payment’ function of money.

Explanation

Barter: - Barter means Exchange of goods for other goods and services. It is exchange without the use of money as a currency. For example photographer agreeing to photograph a dentist’s wedding pictures in return for some dental work of equal value.

The standard of deferred payment is one type… (161 more words) …

Question number: 510

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

Short Answer Question▾

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Rs. 200 crore increase in investment lead to a rise in national income by Rs. 1000 crores. Find out marginal propensity to consume.

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