A Demand Analysis — Economics STD 12 Commerce / Arts — Question

Statments Indicating consumer equilibrium:
a) MU is greater than price
b) MU is equal to price
c) MU is less than price
d) Price is less than one

Features of Monopolistic Competition are –
(a) Homogeneous product
(b) Selling cost
(c) Downward sloping demand curve
(d) Few buyers

Value added approach is the difference between the value of ……………….
(a) Export and import
(b) Receipts and payment
(c) Inputs and final output
(d) None of these

Identify the right group of pairs from the given options.
I) Direct tax – a) Non-tax revenue
ii) Indirect tax – b) Inflation
iii) Fees and Fines – c) GST
iv) Surplus budget – d) Personal income tax

Net income from abroad includes
(a) Difference between export value and import value (X-M)
(b) Difference between receipts and payments made abroad (R-P)
(c) Difference between value of raw material and final goods
(d) None 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

………….. is a primary function of commercial banks.

a) National Income Committee — 1949
b) Financial year 1’ April to 31st March
c) Income method — National Income = Rent + Wages + Interest + Profit + Mixed income + Net Income from abroad
d) Expenditure method – National Income = Rent + Wages + Interest + Profit

The branch of economics that deals with the allocation of resources.
a) Microeconomics
b) Macroeconomics
c) Econometrics
d) None of these

GNP = C +1 + G + (X-M) + (R-P), R and P represents …………….
(b) R – receipts from abroad
(c) P – payments made abroad
(d) P – payments to government