Introduction — Economics STD 12 Humanities & Commerce — Question

Giving reasons, classify the following into direct tax and indirect tax.

1. Wealth tax.
2. Entertainment tax.
3. Income tax.

What is meant by price rigidity, under oligopoly?

Giving reason, classify the into normal resident of India or not.
Indians working in the UNO office, located in America for less than 1 year.

Central Bank has the sole authority of printing currency notes. What are its advantages?

Why is the number of firms small in oligopoly? Explain.

Out of the values of APC and APS, which one can be greater than one and when?

If the demand for good Y increases as the price of another good X rises, how are the two goods related?

Distinguish between substitute goods and complementary goods, with examples.

Given real income to be 400 and price index be 100, calculate nominal income.

The feature ‘large number of sellers’ under perfect competition.