Introduction — Economics STD 12 Humanities & Commerce — Question

Why is Average Revenue always equal to price?

Define intermediate consumption and explain it with an example. How is it different from final consumption?

Explain the meaning of deficit in balance of payments.

How demand deposits are different from time deposits? Explain.

Explain the meaning of diminishing marginal rate of substitution with the help of a numerical example.

Classify the into consumer, intermediate or capital goods.
Cycle purchased by a consumer household.

Consider a market with two firms. The following table shows the supply schedules of the two firms: the SS1 column gives the supply schedule of firm 1 and the SS2 column gives the supply schedule of firm 2. Compute the market supply schedule.

Price (Rs)	SS1 (units)	SS2 (units)
0 1 2 3 4 5 6	0 0 0 1 2 3 4	0 0 0 1 2 3 4

Make a difference between market price and normal price.

Why does an economic problem arise? Explain.###State reasons why does an economic problem arise.

Calculate Net Value Added at factor cost from the following data:

		(Rs. lakhs)
1	Depreciation.	20
2	Intermediate cost.	90
3	Subsidy.	5
4	Sales.	140
5	Exports.	7
6	Change in stock.	(-)10
7	Import of raw materials.	3