National Income Accounting — Economics STD 12 Humanities & Commerce — Question

How does the imposition of a unit tax affect the supply curve of a firm?

From the following data, calculate “gross value added at factor cost”.

S.No.		Rs.(in lakhs)
1.	Sale.	180
2.	Rent.	5
3.	Subsidies.	10
4.	Change in Stock.	15
5.	Purchase of raw materials.	100
6.	Profits.	25

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

State three causes of decrease in supply.

Consider a market with two firms. In the following table, columns labelled as SS₁ and SS₂ give the supply schedules of firm 1 and firm 2 respectively. Compute the market supply schedule.

Price (Rs)	SS1 (kg)	SS2 (kg)
0 1 2 3 4 5 6 7 8	0 0 0 1 2 3 4 5 6	0 0 0 0 0.5 1 1.5 2 2.5

In India a majority of population is lying below poverty line due to inequality of 'Income and Wealth'. How can budget be helpful in solving this problem?

When price of a good is Rs. 13 per unit, the consumer buys 11 units of that good. When price rises to Rs. 15 per unit, the consumer continues to buy 11 units. Calculate price elasticity of demand.

Calculate Price Elasticity of Demand by percentage method.

Price per unit (₹)	Quantity demanded (units)
0	10
1	5

Distinguish between the nominal exchange rate and the real exchange rate. If you were to decide whether to buy domestic goods or foreign goods, which rate would be more relevant? Explain.

Why a monopolist is considered as price maker?