Solved papers for 12th Class Economics Solved Paper - Economics 2017 Outside Delhi Set-II

done Solved Paper - Economics 2017 Outside Delhi Set-II Total Questions - 6

• question_answer1) Explain the problem of 'for whom to produce'.
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• question_answer2) 

  Complete the following table:
  Output (units)	Total (Cost) Rs.	Average Variable (Rs.)	Marginal Cost (Rs.)	Average Fixed Cost (Rs.)
  0	30
  1	...	...	25	30
  2	78	...	...	...
  3	...	23	...	10
  4	...	...	23	...
  5	150	...	...	6

   
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• question_answer3) 

  From the following table find out the level of output at which the producer will be in equilibrium (use marginal cost and marginal revenue approach). Give reasons for your answer.
  Output (units)	1	2	3	4	5
  Total Revenue (Rs)	16	30	42	52	60
  Total Cost (Rs)	14	27	39	49	61

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• question_answer4) Explain the circular flow of income.
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• question_answer5) 

  Explain the precautions that are taken while estimating national income by value added method.

  Or

  Will the following be included in the national income of India? Give reasons for your answer.

  (a) Financial assistance to flood victims

  (b) Profits earned by the branches of a foreign bank in India

  (c) Salaries of Indians working in the American Embassy in India

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• question_answer6) 

  Calculate the (a) Net National Product at market price
  (Rs in crores)
  (i)	Mixed income of self?employed	8,000
  (ii)	Depreciation	200
  (iii)	Profit	1,000
  (iv)	Rent	600
  (v)	Interest	700
  (vi)	Compensation of employees	3,000
  (vii)	Net indirect taxes	500
  (viii)	Net factor income to abroad	60
  (ix)	Net exports	(?) 50
  (x)	Net current transfers to abroad	20

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