B Elasticity of Demand — Economics STD 12 Commerce / Arts — Question

Balance of trade includes –
(a) the value of imports of visible and invisible goods
(b) the value of imports of only visible goods
(c) the value of imports and exports of visible and invisible goods
(d) the value of exports of visible and invisible goods.

Three sector economy consists of ……………..
(a) households, business firms and industries
(b) households, business firms and government sector
(c) households, government and foreign sector
(d) all of these

Obligatory functions of the Government:
a) Provision of employment
b) Maintaining internal law and order
c) Welfare measures
d) Exporting goods and services

Before independence, India was exporting raw materials to –
(a) USA (b) Japan
(c) England (Britain)
(d) None of these

(A) : Elasticity of demand explains that one variable is influenced by another variable.
Reasoning (R) : The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.

There is a change in the composition of India’s exports from –
(a) primary products to manufactured products
(b) manufactured products to primary products
(c) manufactured products to software
(d) All of these Options:

Types of imperfect market are –
(a) Monopoly
(b) Oligopoly
(c) Monopolistic Competition
(d) Perfect Competition

Central Bank has the ………….. of cash reserve of commercial Bank in the country.

Index Numbers are used –
(a) to determine production
(b) to determine the level of employment
(c) to revise dearness allowance
(d) to revise cost of living

charge high rate of interest to the people.