Introduction — Economics STD 12 Humanities & Commerce — Question

Service of a teacher:

1. Capital goods.
2. Consumption goods.
3. Intermediate goods.
4. Can be Consumption goods and intermediate goods.

Explain the condition of consumer's equilibrium in case of two commodities.

If price of a commodity falls from ₹ 50 per unit to ₹ 45 per unit, its supply falls from 1000 units to 800 units. Find out its elasticity of supply.

What change in Total Revenue will result in case of:

1. Decrease in Marginal Revenue.
2. Increase in Marginal Revenue.

In an economy investment is increased by Rs. 300 crore. If marginal propensity to consume is 2/3, calculate increase in national income.

Why does the difference between ATC and AVC decrease with the increase in the level of output? Can these two be equal at some level of output? Explain.

OR

Why does the difference between ATC and AVC decreases with the increase in the level of output? Explain.

Define capital goods.

If domestic income is ₹ 1,000 crore and Net Factor Income from Abroad is ₹ (-10) crore, how much will be National Income?

State whether the study of national income is Micro or Macro Economic study.

Why should a consumer buy more of a commodity even when Marginal Utility from every successive unit tends to decrease?