Introduction — Economics STD 12 Humanities & Commerce — Question

Is balanced budget good for India?

When does a production function satisfy decreasing returns to scale?

Give meaning of full employment.

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

Will a profit-maximising firm in a competitive market ever produce a positive level of output in the range where the marginal cost is falling? Give an explanation.

Compensation to flood victims is a good social security measure by the government. But why is it not included in the estimation of national income?

Price Elasticity of Demand of a good is (-) 2. The consumer buys a certain quantity of this good at a price of ₹ 8 per unit. When the price falls, he buys 50% more quantity. What is the new price?

Giving reason comment on the shape of Production Possibilities curve based on the following schedule:

Good X(units)	Good Y(units)
0	8
1	6
2	4
3	2
4	0

Complete the following table:

Level of Income (₹)	400	500	600	700
Consumption Expenditure (₹)	240	320	395	465
MPC	-	-	-	-
MPS	-	-	-	-

Explain the effect of appreciation of domestic currency on exports.