Introduction — Economics STD 12 Humanities & Commerce — Question

'Price of the commodity is one of the determinant of demand'. In the light of this statement, price of the commodity and its quantity demanded are:

1. Directly related.
2. Inversely related.
3. Positively related.
4. Perfectly related.

Guideline is the alternative name of _____.

1. Aggregate demand.
2. Aggregate supply.
3. MPC.
4. APS.

If in a oligopoly, the fir1ms are selling homogeneous products, then the oligopoly firm is called:

1. Pure competition.
2. Pure oligopoly.
3. Monopoly.
4. Duopoly.

Production Possibilities Curve is also known as.

1. Demand curve.
2. Supply curve.
3. Indifference curve.
4. Transformation curve.

________ refers to that portion of total deposits of a commercial bank which it has to keep with RBI in the form of cash reserves.

1. CRR
2. SLR
3. Bank Rate.
4. Repo Rate.

In order to encourage investment in the country, the RBI may_______.

1. reduce CRR.
2. increase CRR.
3. sell securities in the open market.
4. increase bank rate.

At the Break-Even point, Savings in the economy are:

1. Positive.
2. Zero.
3. Negative.
4. Maximum.

Name the situation under which aggregate demand exceeds aggregate supply at the full employment level.

1. Excess demand.
2. Excess supply.
3. Deflationary gap.
4. None of them.

In monopoly and monopolistic competitions, AR and MR curve are downward sloping because the firms can sell more by

1. Increasing the price.
2. Lowering the price.
3. Keep in price constant.
4. All of these.