B Elasticity of Demand — Economics STD 12 Commerce / Arts — Question

According to National Income Committee, NI is ………………….
(a) volume of goods and services
(b) produce in one year
(c) goods and services counted without duplication
(d) all of these

The examples of revenue expenditure …………..
(a) administration cost of the government
(b) huge investments in different developmental projects
(c) salaries, allowances and pensions of government employees
(d) medical and public health services

Choose the right group of pairs :

Group ‘A’	Group ‘B’
(1) Budget	(a) Simplifying tax system
(2) Financial administration	(b) Use of foreign currency
(3) External debt	(c) Annual financial statement
(4) GST	(d) Implementation of revenue

Obligatory functions of the Government:
a) Provision of employment
b) Maintaining internal law and order
c) Welfare measures
d) Exporting goods and services

Non tax revenue includes
(a) Prices of public goods and services
(b) Gifts, Grants and Donations
(c) Goods and Service Tax (GST)
(d) Fines and penalties

Concepts studied under Macro economics.
a) Whole economy
b) Economic development
c) Aggregate supply
d) Product pricing

Demand for cosmetics is ……………..

Demand for salt is …………….

………….. is the only active money market centre in India.

Bank rate is ………….. measure of credit control.