Introduction of Micro-Economics — Economics STD 12 Humanities & Commerce — Question

What does a movement from a point within the production possibility frontier to a point on the frontier indicate?

Define open market operations.

Define average product.

Define fiduciary money.

Will the following items be included or not in National Income of India? Give reason for your answer.

Purchase of a machine by a factory.

OR

Purchase of a new taxi by a taxi driver.

Categorize the following items into Revenue and Capital Expenditure.
Statement-Grants given to State Governments.

Define margin requirements.

What is ‘excess demand’ in macroeconomics?

Give meaning of increasing returns to a factor.

Give two examples of imposition of price floor in India.