Introduction — Economics STD 12 Humanities & Commerce — Question

Giving reason, classify the into intermediate or final goods.
Sugar used by a sweet shop.

State the meaning and components of money supply.

A shift in demand curve has a larger effect on price and smaller effect on quantity when the number of firms is fixed compared to the situation when free entry and exit is permitted. Explain.

Which one of the following items comes under consumption goods?

1. Durable goods.
2. Semi-durable goods.
3. Non-durable goods.
4. All of these.

What are the three phases of circular flow of income?

Explain the change in demand of a good on account of change in prices of related goods.

OR

How is demand for a commodity affected by the rise in price of related goods? Explain with the help of diagram.

OR

Explain how the demand for a good is affected by the price of its related goods. Give examples.

Giving reason explain how the following should be treated in estimation of national income:

1. Payment of interest by a firm to a bank.
2. Payment of interest by a bank to an individual.
3. Payment of interest by an individual to a bank.

Define Production Possibility Curve and state its properties.

State three main functions of a commercial bank. Explain any one of them.