What does the Law of Supply state? List two assumptions of this Law.
What do you understand by supply? How does it differ from stock?
State whether the following statements are true or false. Give reasons. An increase in the rate of tax with an increase in income is called proportional tax.
State whether the following statements are true or false. When change in demand is greater than the change in price, it is a case of inelastic demand.
State whether the following statements are true or false. Give reasons. In a perfectly competitive market producers are price makers.
How does a Central Bank act as a custodian of foreign exchange reserve?
Name the market in which there is a single buyer and many sellers. Give an example.
State any two factors which determine capital formation in a country
Mention two adverse effects of mining on the environment.
State two ways in which the government can promote economic development.
If the price of a commodity increases by 50% and its supply increases by 25% then calculate the price elasticity of supply following the percentage method. Identify the degree of price elasticity.
With the help of appropriate diagram, explain the meaning of contraction in demand and extension in demand.
With suitable examples explain three important classifications of labour
Explain briefly four problems of public sector undertakings in India.
Explain how Commercial banks provide credit facilities through the methods given below:
Define land. State any three factors which determine the productivity of land.
Explain two factors affecting supply other than price.
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