Introduction — Economics STD 12 Humanities & Commerce — Question

Giving reasons, state whether the following statements are true or false.
Net capital gains from the sale of property is a part of domestic factor income.

Giving reasons, state whether the following statements are true or false.
On a demand curve where it touches X-axis elasticity of demand is Infinity?

Giving reasons, state whether the following statement are True or False.
When government imposes more unit tax, supply of the concerned good increases?

Giving reasons, state whether the following statements are true or false.
In perfect competition, selling costs can help in raising sale of the product.

Which of the following statements are true or false? Give reason.
Microeconomics is the study of the behaviour of the economy as a whole.

Books in a library are intermediate goods.

Giving reasons, state whether the following statement are true or false.
Can Average revenue be negative.

Giving reasons, state whether the following statements are true or false.
Nominal GDP can never be less than Real GDP.

Giving reasons, state whether the following statements are true or false.
In case of single commodity, consumer will be in equilibrium when M.U. = Income.

Giving reasons, state whether the following statements are true or false.
Sale of second hand car is not included in national income.