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    The document outlines an economics exam covering various topics: 1. Current transfers refer to the flow of goods and services without a requirement for repayment. 2. The decline of handicrafts in India under British rule had negative economic effects such as unemployment and poverty. 3. Land settlement systems introduced by the British had various impacts, including reduced agricultural productivity and wealth drain from India. 4. Stocks refer to accumulated goods and assets, while flows represent the movement or transfer of goods and services over time. Subsidies are considered transfer payments.

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    The document outlines an economics exam covering various topics: 1. Current transfers refer to the flow of goods and services without a requirement for repayment. 2. The decline of handicrafts in India under British rule had negative economic effects such as unemployment and poverty. 3. Land settlement systems introduced by the British had various impacts, including reduced agricultural productivity and wealth drain from India. 4. Stocks refer to accumulated goods and assets, while flows represent the movement or transfer of goods and services over time. Subsidies are considered transfer payments.

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    © All Rights Reserved
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    18 views1 page

    Class 12 Economics Test

    Uploaded by

    ANTEC
    The document outlines an economics exam covering various topics: 1. Current transfers refer to the flow of goods and services without a requirement for repayment. 2. The decline of handicrafts in India under British rule had negative economic effects such as unemployment and poverty. 3. Land settlement systems introduced by the British had various impacts, including reduced agricultural productivity and wealth drain from India. 4. Stocks refer to accumulated goods and assets, while flows represent the movement or transfer of goods and services over time. Subsidies are considered transfer payments.

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    © All Rights Reserved
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    Class-12

    ECONOMICS
    TIME:1hr MARKS:30

    1.What is meant by current transfer?

    2.What are the effects of decline of handicraft industry in India?

    3)Read the following statement assertion and reason choose one of the correct alternative is given
    below:

    a) Assertion: During the British rule, production of cash crops, improved the economic condition of farmers.

    Reason: farmers were glven higher price to produce cash crops

    b) Assertion: opening of Suez Canal in 1869, reduced the cost of transportation

    Reason: Suez Canal provided a direct route warships operating between Britain and India

    c) Assertion: Intermediate goods have a direct demand

    Reason: The demand of intermediate goods depends on the demand of final Good

    d) Assertion: Agriculture productivity became very low during colonial rule.

    Reason: Britishers introduced various system of land settlement.

    e) Assertion: Subsidies are transfer payment.

    Reason: Subsidies contribute towards current flow of goods and services.

    4. True and false with the reasons


    a) There Wah huge drain of wealth during British rule
    b) All purchases by a production unit from the other production units for intermediate product
    c) Domestic product includes contribution of only resident producers within the domestic territory
    of the country.
    d) Exhaust fan used for making water cooler is intermediate goods.
    e) British introduced the railway in India in 1860.

    5.Critically appraise. some of the short falls of the industrial policy pursued by the British colonial administration

    6.Discuss the land settlement system introduced under the British rule

    7.Distinguish between stocks and flow. Give an example of both.

    8.Subsidies to the producers should be treated as transfer payment defend or refute the given
    Statement.

    9. Distinguish between Final goods and Intermediate goods.

    10.Calculate subsidies
    GDP at FC. 55,000
    Indirect Taxes. 4,400
    Factor Income to abroad. 600
    NNP at MP 55,500
    Factor income from abroad. 1,300
    Depreciation 2,500

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