ISC (Arts) इयत्ता १२ - CISCE Question Bank Solutions for Economics

Give one difference between a Direct tax and an Indirect tax.

How is it determined by using Saving and Investment approach?

Why is effective demand also known as expost demand?

The diagram given below shows the change in price of cotton shirts. Which one of the following causes the equilibrium price to move from P₁ to P₂?

With reference to Simple Keynesian model, give the meaning of ex-ante demand.

Name any two direct taxes.

Assertion: A firm is able to sell more quantity of a commodity by reducing its price.

Reason: As it sells additional units of the commodity at a lower price, the firm’s marginal revenue will be less than its average revenue.

If aggregate demand exceeds aggregate supply in a situation of full employment, what will be its impact on the economy?

Give one measure to overcome a deflationary gap.

A firm under perfect competition is a price taker but the industry is the price maker. Defend or refute this statement by giving a reason.

Normal profits for a firm imply that the firm is breaking even. Explain.

Differentiate between Personal income and Private income.

With the help of a diagram, determine the equilibrium level of output and income by using Aggregate demand and aggregate supply approach.

Transfer earning in National income refers to ______.

Induced investment expenditure refers to ______.

Mention any one difference between the impact of tax and the incidence of tax.

Give any two differences between returns to a factor and returns to scale.

What is meant by no quid pro quo of a tax?

India has been operating on a managed floating exchange rate regime since March 1993. Explain the statement.

Outline any two precautions that should be taken in estimation of National income by Expenditure method.