CBSE Class 12 Economics Introduction To Micro Economics VBQs read and download in pdf. Value Based Questions come in exams for Economics in Standard 12 and are easy to learn and helpful in scoring good marks. You can refer to more chapter wise VBQs for Class 12 Economics and also get latest topic wise very useful study material as per latest 2021 NCERT book for Class 12 Economics and all other subjects for free on Studiestoday designed as per latest Grade 12 CBSE, NCERT and KVS syllabus and examination pattern
INTRODUCTION TO MICRO ECONOMICS:
1. India is a labour abundance and capital scarce economy. Which technique of production should be used to produce the commodity?
Ans: India should adopt labour intensive technology.
2. As water resources are limited in our country, how can we economise the water resources so that it would not become a future problem for us. Give any two suggestions.
Ans: i) Rain water harvesting to be implemented as must.
ii) Recycling of Water and economical use of water.
3. A teacher is getting Rs. 6000/- as salary per month. If he leaves the job and starts tuition work, he is expected to earn Rs. 5000/- per month what would be his opportunity cost.
Ans: The opportunity Cost of a school Job is Rs. 5000/- p.m . That a teacher could have earned in the next best alternative use that is doing tuition work.
4. With the same amount of resources, a farmer can feed the following combination of goats and Horses.
Option -1 168 44
Option-2 150 50
Given the option available with him,What is the opportunity cost of the farmer of feeding one Horse. ?
Ans: The opportunity cost to the farmer of feeding one horse is 3 goats
i.e: 168- 155 ÷ 50-44 =3/1
5. Lot of people die and many factories are destroyed because of a severe earthquake in a country. How will it affect the countries PPC?
Ans: As a result of death and destruction of factories due to Earthquake there will be reduction in Production as a result PPC will shift to left, due to decline in resource.