Government Budget and Economy — Economics STD 12 Humanities & Commerce — Question

What does the average fixed cost curve look like? Why does it look so?

If consumption function for an economy is given as, C = 500 + 0.8Y and investment expenditure is ₹ 100 crore, then determine:

1. Level of income when savings will be zero.
2. Level of income at which savings are equal to investment.

What is credit creation?

Discuss briefly the meaning of "Price discrimination" and "Product differentiation" with example.

The data below shows the relationship between total output and the amount of labour hired at Papa's Pizza Shop

Number Workers(per day)	Total Product (Pizzas per day)
0	0
1	100
2	200
3	300
4	400
5	500

Does the production function in the above table exhibit diminishing marginal returns? Explain.

How are decisions taken by the consumer and producer in a coordinated market?

Who is the father of Modern Macroeconomics Analysis?

OR

Name the economist who gave the understanding of Macroeconomics for the first time.

Giving reason, classify the into factor income or transfer income.
Claim received from Insurance company by an injured worker.

Lot of people died and many factories are destroyed because of severe earthquake in a country. How will it affect the country's PPC?