Money and Banking — Economics STD 12 Humanities & Commerce — Question

In which account of BOP, tourism services to tourist are included?

Express average total cost in terms of average fixed cost and average variable costs.

Will the following items be included or not in National Income of India? Give reason for your answer.
Payment of income tax by a production unit.

Define revenue deficit.

State the law of diminishing marginal utility.

Define final product or final goods.

What do you mean by the problem of scarcity?

In the situation of inflation credit creation by commercial bank is beneficial for the bank but it explain its negative impact on economy.

Define fiduciary money.

Define Variable Costs.