Suppose the demand for consumer goods expands. You are going to get questions of both the part of CBSE 12 th economics here, i.e. The government, the minister concerned, and the Parliament interfere in the day-to-day working of these enterprises and due to this interference, it has become difficult for these undertakings to run on sound business principles. Classification of Economic Transactions in BoP The pure monopolist takes all consumers’ incomes all the time.”. Ans. 1.1.1 The quantity of this factor of production cannot be increased. In any situation, the ultimate aim of the monopolist is to have maximum profits. Chapter Wise Important Questions Class 12 Economics. Introduction. It is being replaced either by sole proprietorship or partnership firm. Since the elasticity of the firm’s average revenue curve is equal to one, total outlay on the firm’s product will be the same at every price. In the short- run, the question is whether competitors will follow suit; while in the long-run, entry of potential competitors, exploration of substitutes, and other complex and unforeseeable effects may follow. Case study of airline catering and answers questions 10 Grade economics essay, poetry analysis explication essay essay on save water save life for class 3 and essay Grade questions 10 answers economics high school is the best time of your life essay, how many words should an sat essay be, professionalism in law enforcement essay, 2000 word essay on professionalism. Share Your Word File Sales of durables, on the other hand, add to the stock of existing goods that are still serviceable and are subject to repetitive use. ii. One important problem faced by the State enterprise is the lack of trained personnel to manage them. Derived Demand and Autonomous Demand: When the demand for a product is tied to the purchase of some parent product, its demand is called derived demand. But in a Joint Hindu Family business the liability of every member except that of the Karta is limited to his interest in the joint property. For example, if a question asks for three things, use this format to answer – First point. Ans. List the site name in the comments section below. The forbidden fruit mentioned in the Book of Genesis is never identified as an apple, a misconception widely depicted in Western art. A Joint Hindu Family can enter into partnership with others. 3. Prepared by the economics specialist. Generally, the elder members of the family may not approve the views of the younger members of the family. Take difference(s) if necessary to get your data stationary. iii. After notes we have also provided important questions form that topics. Theory of Consumer Behaviour. Karta may misuse his freedom for his personal benefits as other co-partners have no right to interfere in conducting business. Industry demand can be classified customer group-wise; for example, steel demand by construction and manufacture, airline tickets by business or pleasure and geographic areas by states and districts. If the marginal cost is below the average variable cost, the latter will fall. Central Problems and Solutions of an Economy, Production Possibility Curve and Opportunity Cost. Books now will appear in printed and soft file collection. In the case of partnership, women can become the members of the partnership business but in the case of Joint Hindu Family business only male members can become co-partners. DBE QPs & memos. social sciences. On separation, a co-partner has no right of asking for previous accounts. Of course, the lengths of time for which they can go on being used vary to a good deal. It is recommended for the students to practice the given Class 12 Economics chapter wise important questions with the answers. Machinery, tools and implements, factory buildings, etc. It is not in a position to take full advantage of the economies of scale due to the small size of the market for his product. Economics and its Types. Like the single plant monopoly, the multi-plant monopoly adjustment in the long-run may be followed by quantity and price changes. These civil servants lack business acumen and experience, which are essential for efficient management of the undertakings. Discuss the causes of business cycles with reference to the exogenous and endogenous factors. 2. v. Economic theory hypothesizes economic relationships and builds economic models but managerial economics adopts, modifies, and reformulates economic models to suit the specific conditions and serves the specific problem solving process. 2017 ECONOMICS EXAM 2 SECTION A continued SECTION A – Multiple-choice questions Instructions for Section A Answer all questions in pencil on the answer sheet provided for multiple-choice questions. For example, if the price of a machine at the time of purchase, say, in 2010 was Rs.15,000 and if the present price is Rs.85,000, the original cost of Rs.15,000 is the historical cost while Rs.85,000 is the replacement cost. A JHF comes into existence by the operation of law. But in a Joint Hindu Family business, if a co-partner dies the undivided share of the debased co-partner devolves on the surviving co-partners and not on the heirs of the deceased by succession. 5. They are totally genuine essay questions which have been sent to us by students to help out others who are struggling deciding on their own essay question. Some of the advantages of Joint Hindu Family firm are as follows: 1. vi. Linking sentences for essays, ba essay on kashmir issue. The financial planning of many public sector enterprises also suffer from several drawbacks due to which they face the problem of overcapitalization. Please use bullet points if appropriate. On the other hand, book costs, such as depreciation, do not require current cash payments. Monopoly is a market situation in which there is only one seller of a product. 9. Out-of-pocket costs refer to costs that involve current cash payments to outsiders. Model Identification (page 407): Run your ACF and answer the following questions based on the ACF. In this connection we may note that the Administrative Reforms Commission’s Study Team on Public Undertakings recommended that our public enterprises should pursue a pricing policy that ensures not merely that the cost is covered but also the financial requirements of other developmental plans of the country can be financed through their surpluses. The seller monopolist on his part would wish to sell a smaller quantity OM1 at a higher price OM2. The monopolist can fix either price or output. But in the case of multi-plant monopoly the firm will operate at the minimum long-run average costs to gain maximum profits. 4. But in the long-run, he operates only those plants which together bring in larger profits. Economics and its Types. ️ We strive to provide the best possible articles and discussions for only a fraction of the price as we aim to stay the top provider for grade 12 essay writing services online. foreign languages. At present the managing directors are mostly the senior officers of the government departments who do not possess technical knowledge and experience. In a majority of these undertaking industrial relations are far from satisfactory in spite of the fact that the huge sums have been spent for providing amenities to the employees. Examples of non-durable goods are sweets, bread, milk, a bottle of Coca-Cola, photoflash bulb, etc. This is a specifically stated objective of government policy, which has yet to be attained. Were you happy with your specific variable, why/why not? It seems to be greater when a book can be the best thing to discover. Then there will be a need to expand the production of capital goods in order to produce the consumer goods. Below you will find a selection of free essay questions which have been made available to inspire you. Click to Download your free JSS 3 Final Exam BECE Home Economics Past Questions and Answers (Objective and Theory) Download Now .
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