Q. Give two reasons as to why the division of labour is an advantage to the producer ?

Q. Define the term consumer awarness.

Q. Why do small farmers suffer during inflation ?

Q. Which are the two sources of public revenue ?

Q. Define the term labour as a factor of production.

Q. Explain any one factor that affects the supply of a commodity.

Q. What do you understand by the term 'near money' ?

Q. A list of goods are given below.
State whether it is fixed capital or circulating capital.
(i) Machines
(ii) Raw material
(iii) Fuel
(iv) Office furniture

Q. With the help of an example explain the term productive debt.

Q. Explain any two characteristics of capital.

Q. How is land different from labour ?

Q. With help of an example explain the term complementary goods.

Q. Name any two sources of external debt for India.

Q. Differentiate between creeping and running inflation.

Q. Mention two ways by which efficiency of labour can be improved.

Q. What does the term 'nationalisation of banks' mean ?

Q. Why is India considered to be in a virtual debt trap ?

Q. Give any two reasons for giving the monopoly right of note issue to the Central Bank.

Q. Mention any two duties of a consumer.

Q. Give any five differences between product and process based division of labour.

Q. Explain any five rights of the consumers as accepted by the Indian law.

Q. How do the manufactures and traders exploit the consumers ?

Q. Explain the role of an entrepreneur in the economic development of the country.

Q. How is a commercial bank different from a central bank ?

Q. What are the merits of an indirect tax ?

Q. With the help of a graph explain relatively inelastic demand for a commodity.

Q. Discuss any five advantages of having a bank account.

Q. Explain any five characteristics of tax.

Q. (i) What is meant by the term demand pull inflation ?
(ii) Discuss any three causes of demand pull inflation.

Q. (i) Define the term demand.
(ii) explain any three factors that affect the demand for a commodity.
(iii) Why are articles of distinction or the Veblen effect an exception to the law of demand ?