Introduction — Economics STD 12 Humanities & Commerce — Question

Classify the into durable, non-durable, semi-durable or service.
Clothes.

Explain the "medium of exchange" function of money.

Net National Product at Factor Cost of a particular country in a year is Rs. 1,900 crores. There are no interest payments made by the households to the firms/ government, or by the firms/ government to the households. The Personal Disposable Income of the households is Rs. 1,200 crores. The personal income taxes paid by them is Rs. 600 crores and the value of retained earnings of the firms and government is valued at Rs. 200 crores. What is the value of transfer payments made by the government and firms to the households?

Which one of the following incomes is 'factor income from abroad' for Indian residents and why?

1. Interest income received by Indian residents on the bonds of companies operating in America.
2. Remittances by Indian settled abroad to their families in India.

What is the difference between depreciation and depreciation reserve fund?

State any three points of distinction between Central Bank and Commercial Banks.

In an economy, aggregate demand is less than aggregate supply. Explain the changes that will take place in this economy.

Distinguish between balance of trade and balance on current account.

Distinguish between stocks and flows. Give an example of each.OR
Distinguish between stock and flow variables with suitable examples.

Give meaning of an Economy.