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Monday, 8 November 2021

CBSE Class 12 Economics - Term 1 MCQs (2021-22) #class12Economics #cbseterm1 #economics #eduvictors

CBSE Class 12 Economics - Term 1 MCQs (2021-22)

Q1: What is the defect of the barter system?

(a) Lack of double coincidence of wants

(b) Difficulty in the measurement of value

(d) All of these

Q2: Supply of money refers to __________

(a) currency held by the public

(b) currency held by RBI

(d) currency held in government account

CBSE Class 12 - Economics Preboard Question Paper (2020-21)(#class12Economics)(#cbse)(#eduvictors)

CBSE Class 12 - Economics Preboard Question Paper
(2020-21)

Economics is the science which deals with production, distribution and consumption of goods. It has both, qualitative as well as quantitative aspects. The subject focusses on how governments, business, households, societies and individuals make choices about when, where and how to use their natural resources at its best. Eduvictors provides question papers (solved and unsolve), worksheets and study notes help you in your studies.

1. 20 Plus CBSE Sample Papers Economics Class 12 for 2021 Exam with Reduced Syllabus

2. CBSE New Pattern 15 Sample Paper Economics Class 12 for 2021 Exam with reduced Syllabus

Here follows the class 12 Economics - Preboard Sample question paper

CBSE Class 12 - Economics Sample Question Paper + Solution- (2018-19)(#cbsepapers)(#eduvictors)

CBSE Class 12 - Economics
Sample Question Paper + Solution- (2018-19)

Economics is a social science concerned with analysis of Human behaviour in respect of scarcity of means. The most important difference between economics and other sciences, however, is that the systems it examines are fluid. Economic systems are the ways in which people organize economic life to deal with the basic economic problem of scarcity.

Here follows the class 12 Economics sample question paper along with marking scheme and answers help you in studies.

CBSE Class 12 - Economics - Chapter 5: Supply (60+ Very Short Questions Answers) (#cbsenotes)(#eduvictors)

Economics: Supply

(Very Short Questions Answers)

Q1: Define supply.

Answer: Supply may be defined as the amount of a commodity that the producers are willing to offer for sale at different prices during a period of time.

Q2: Define stock.

Answer: It refers to the total quantity of goods which is available with the sellers in the market at a particular point of time.

Q3: Name three elements of supply.

Answer:
(i) Quantity of a commodity
(ii) Price of a commodity
(iii) Particular time period

Q4: What is Supply Schedule?

Answer: It is a tabular statement which shows various quantities of a commodity being supplied at various levels of price, during a given period of time.

Q5: What does supply indicate?

Answer: Supply indicates a firm’s willingness to sell at a particular price and time.

Q6: What is Market Supply Schedule?

Answer: It is a schedule which represents the total quantity of a commodity that all producers will supply at each market price per period of time. It is a horizontal summation of individual supply schedules.

Q7: How is supply different from stock?

Answer: Supply is a part of the stock.

CBSE Class 12 - Economics - Chapter 4 : Production Function (Very Short Questions and Answers)(#cbsenotes)(#eduvictors)

Chapter 4: Production Function Very Short Questions and Answers

Q1: Define production.

Answer: Addition to utility should be regarded as production which brings about an addition in the value of goods.

Q2: Define Average Product.

Answer: Average product refers to output per unit of a variable input. Mathematically, it is Total Product divided by the amount of variable factor.

Q3: Define production function.

Answer: Production function may be defined as the technological relationship between physical inputs and the maximum producible output.

Q4: Write the equation for the production function.

Answer: Qx = f(L,K).

Q5: Define short period.

Answer: the Short period is the period of time in which a firm can change only some factors of production (say labour)

CBSE Class 12 - Economics - Value Based Questions and Answers on Macro Economics (#cbsenotes)(#eduvictors)

Value Based Questions and Answers on Macro Economics

Very Short Questions and Answers (VSQA)

Q1: Ms. Nidhi is interested in knowing the change in quantity produced by a farmer with a fall in the price of the product. Which branch of economics would she study to ascertain the change?

Answer: Micro Economics

Q2: Give an example to show that an item which is kept constant in micro economics is considered a variable in macro economics.

Answer: National Income is kept constant in micro economics, but in macro economics, it is considered as an important variable.

Q3: What is the rationale for not taking into account the value of intermediate goods in the measure of Gross Domestic Product?

Answer: To avoid the problem of double counting.

CBSE Class 10 - Economics - Chapter 1 - Introduction of Economics - Worksheet (#cbsenotes)(#eduvictors)

Introduction of Economics

Worksheet

Fill in the blanks.

1. Economics is a _____ science. (physical, social, natural)

2. Economics studies man’s ____ behaviour in society. (economic, social, political)

3. The Greek word “OIKONOMIA” means _______. (household, household management, household science)

4. _____ is considered as the Father of Economics.

CBSE Class 12 / BBA Entrance - Economics - Banking - Important Banking Concepts (#cbsenotes) (#eduvictors)

Banking - Important Banking Concepts

Q1: What is Balance of Trade?

Answer: The value of a country’s exports minus the value of its imports. Unless specified as the balance of merchandise trade, it normally incorporates trade in services, including earnings (interest, dividends, etc.) on financial assets.

Q2: What is Balance of Payments?

Answer: A list of all of a country’s international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; Payments out of the country (payments) are entered as negative numbers called debits. A single numbers summarize all of a country’s international transactions: the balance of payments surplus.

Q3: What is NOSTRO Account?

Answer: A Nostro account is maintained by an Indian Bank in the foreign countries.

Q4: What is VOSTRO Account?

Answer: A Vostro account is maintained by a foreign bank in India with their corresponding bank.

Q5: What is BCBS?

Answer: Basel Committee on Banking Supervision is an institution created by the Central Bank governors of the Group of Ten nations.

Entrance Exams/CTET/NTSE/Class 9 - Agricultural Revolutions (#ntsenotes)(#entranceexams)(#eduvictors)

Agricultural Revolutions

Protein Revolution
- higher productivity (Technology driven 2nd green revolution)
- coined by - Modi & Arun Jaitely

Green Revolution
- Food grains
- Green revolution "word" COINED by William S Goud - UK

White Revolution or Operation Flood
-Milk production
-VARGHESE KURIEN

CBSE Class 12 - Economics - Chapter 1 - Introduction to Economics (Very Short Question Answers) (#cbseNotes)(#eduvictors)

Introduction to Economics
(Very Short Question Answers)

Q1: What is an Economy?

Answer: An economy is the system of earning livelihood. It is the sum of the basic economic activities
viz.
✒ Production,
✒ Consumption and
✒ Distribution or Distribution (Exchange).

Q2: What is an Economic Problem?

Answer: An economic problem is the problem of making choice of the given resources which have alternative uses. In other words, it is the decision making problem of husbandry of resources.

Q3: Define the term Production Possibility Curve.

CBSE Class 12 - Economics - Sample Question Paper - (2017-18) (#eduvictors)(#cbseNotes)

CBSE Class 12 - Economics -
Sample Question Paper - (2017-18)

CBSE Class 12 - Economics - CH2 - Consumer's Equilibrium and Demand - Important Definitions (#eduvictors)(#cbseNotes)

Economics - Chapter -
Consumer's Equilibrium and Demand - Important Definitions

Consumer:
It is an economic agent who consumes final goods and services.

Total Utility:
It is the sum of satisfaction from consumption of all the units of a commodity at a given time.

Marginal Utility:
It is a net increase in total utility by consuming an additional unit of a commodity.

Law of Diminishing Marginal Utility:
As consumer consumes more and more units of commodity. The Marginal utility derived from the last each successive units goes on declining.

Consumer’s Bundle:
It is a quantitative combination of two goods which can be purchased by a consumer from his given income.

Budget set:
It is quantitative combination of those bundles which a consumer can purchase his from given income at prevailing market prices.

CBSE Class 12 - Economics - Solved Question Paper - Delhi Region (2016-17) (#cbsePapers)

CBSE Class 12 - Economics - Solved Question Paper - Delhi Region (2016-17)

☛See Economics Question Paper (2016-17) Delhi Region

CBSE Class 12 - Economics - Question Paper (2016-17) (#cbsePapers)

CBSE Class 12 - Economics - Question Paper (2016-17)

☛ See Class 12 - Economics Question Paper Answers and Marking Scheme - Delhi Region (2016-17)

CBSE Class 12 - Economics Sample Question Paper With Marking Scheme (2014-15) (#cbseNotes)

CBSE Class 12 - Economics Sample Question Paper With Marking Scheme (2014-15)

Sample Question Paper with answers and Marking Scheme.

CBSE Class 12/NTSE - Macroeconomics - Money and Banking - Inflation Related Terms (#cbseNotes)

Inflation Related Terms

Deflation
Deflation is that state of the economy where the value of money is rising or the prices are falling.

Hyperinflation
Extremely Rapid and out of control inflammation inflation is said to be hyperinflation.

Stagflation
A condition of slow economic growth and relatively high unemployment - a time of stagnation - accompanied by a rise in prices on inflation.

CBSE Class 12 Economics -Syllabus (2017-18) (#cbseNotes)

Economics -Syllabus (2017-18)