I.Com Part 2 Principles of Economics chapter 1 Short Question Preparation

12th Class Principles of Economics
Chapter 1

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12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 1 "ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation "

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Economics - ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation

Question # 1

What is subsidy

  • Ans 1: Sometimes governemnt wants to provide some goods to the public at a lower price than market price. The governemnt purchases them at higher price and sells at a low price to the public at utility stores and cooperative stores. It is called Subsidy, for example, if government purchases flour at Rs. 10/- per kg and sells it at Rs. 8/- per kg, than subsidy will be Rs. 2/- per kg.
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Prepare Complete Set Wise Questions For Chapter 1 "ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation "

ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation - Set 1

Question # 1

What is subsidy

  • Ans 1: Sometimes governemnt wants to provide some goods to the public at a lower price than market price. The governemnt purchases them at higher price and sells at a low price to the public at utility stores and cooperative stores. It is called Subsidy, for example, if government purchases flour at Rs. 10/- per kg and sells it at Rs. 8/- per kg, than subsidy will be Rs. 2/- per kg.
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ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation - Set 2

Question # 1

What is meant by Marginal propensity to consume.

  • Ans 1: Marginal propensity to consume
  • Ans 2: The ratio between change in consumption and change in income is called marginal propensity to consume. To find Marginal propensity to consume. change in consumption is divided by the chang in income.
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ICom Part 2 Principles of Economics Chapter 1 Short Questions Preparation - Set 3

Question # 1

Difference between real national income and nominal national income.

  • Ans 1: Real national income menas total quantity of goods and services produced in a country. Therefore, real national incmoe increases with the increasses in the quantity of goods and services in the country while nominal national income means monetary value of goods and services at the market prices.
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12th Principles of Economics Chapter 1 Preparation

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