Production and cost — Economics STD 12 Humanities & Commerce — Question

Ms Pratima was hungry, hence she decided to eat bananas, however, after eating 2 bananas, she suddenly realised that, now she is not enjoying eating any further unit. Hence, she decided to eat rest of the bananas later on. Identify the reason behind the above case. Also. state the underlying assumptions.

Distinguish between 'increase in demand' and 'increase in quantity demanded' of a good.

What is meant by consumption goods?

When the price of a good falls from ₹ 10 to ₹ 8 per unit, its demand rises from 20 units to 24 units. What can you say about price elasticity of demand of the good through the ‘expenditure approach’?

Visits to foreign countries for sightseeing etc. by the people of India is on the rise. What will be its likely impact on foreign exchange rate and how?

Giving reason state whether are included or excluded in/ from domestic territory.
Reliance Industries rented its building to Microsoft in America.

What is the law of variable proportions?

Which among the following are final goods and which are intermediate goods? Give reasons:

1. Milk purchased by a tea stall.
2. Bus purchased by a school.
3. Juice purchased by a student from the school canteen.

What is the difference between depreciation and depreciation reserve fund?

Quantity demanded of a commodity rises by 6 units, when its price falls by 1 per unit. Its Price Elasticity of Demand is (-) 1. If the price before the change was ₹ 20 per unit, calculate quantity demanded at this price.