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

Value added approach is the difference between the value of ……………….
(a) Export and import
(b) Receipts and payment
(c) Inputs and final output
(d) None of these

GDP (Gross Domestic Product) =
(a) C +1 + G + (X-M)
(d) GNP – depreciation
(c) GDP – depreciation
(b) C + I + G + (R-P)

Variation in Demand.
(a) Change in Price
(b) Change in quantity demanded
(c) Change in other factors
(d) No change in other factors

charge high rate of interest to the people.

International trade is important because –
(a) it helps in optimal utilisation of resources
(b) it brings stability in price level
(c) it helps to earn foreign exchange
(d) it encourages investment

a) National Income Committee — 1949
b) Financial year 1’ April to 31st March
c) Income method — National Income = Rent + Wages + Interest + Profit + Mixed income + Net Income from abroad
d) Expenditure method – National Income = Rent + Wages + Interest + Profit

In case of substitute goods the cross elasticity of demand is ………………..

………….. is a primary function of commercial banks.

After a point of satiety, any additional consumption of commodity results into –
(a) negative MU
(b) diminishing TU
(c) disutility
(d) maximum TU

Classification of markets on the basis of place
a) Local market, National market, International market
b) Very short period market, Local market, National market.
c) Short period market, National market, International market.
d) Local market, National market, Short period market.