Introduction — Economics STD 12 Humanities & Commerce — Question

Define microeconomics.

Analytically what does demonetisation comprise of?

Government incurs expenditure to popularize yoga among the masses. Analyse its impact on gross domestic product and welfare of the people.

Giving two examples, explain the relation between rise in price of a foreign currency and its demand.

Explain why public goods must be provided by the government?

Giving reason, classify the into stock or flow.
Money supply.

Define current transfers.

Give the meaning of under-employment equilibrium.

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

Increase in per capita real income means increase in per capita availability of goods and services. Does it necessarily mean rise in the welfare of the people of the country? Give any one argument in support of your answer and explain the same.