Introduction — Economics STD 12 Humanities & Commerce — Question

What is inventory investment?

The price of a commodity is 12 per unit and its quantity supplied is 500 units. When its price rises to 15 per unit, its quantity supplied rises to 650 units. Calculate its price elasticity of supply. Is supply elastic?

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

1. Expenditure by a firm on payment of fees to a chartered accountant.
2. Payment of corporate tax by a firm.
3. Purchase of refrigerator by a firm for own use.

Giving reason state whether are included or excluded in/ from domestic territory.
Microsoft Office in India.

When the price of a good falls from ₹ 10 per unit to ₹ 8 per unit, its supply falls by 25 units from 125 units. Calculate elasticity of supply (ES) by percentage method.

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

Good X(units)	Good Y(units)
0	20
1	18
2	14
3	8
4	0

What will likely be the impact of large-scale outflow of foreign capital on Production Possibilities Curve of the economy and why?

Explain the impact of non-maintenance of fiscal discipline in an economy.

Draw the total variable cost curve.

Explain the implications of the following:
The feature ‘differentiated products’ under monopolistic competition.