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Economics · 2024 · 1 mark
CBSE 2024 · Region 3 · Set 3 · Q4
Read the following statements carefully :Statement $\displaystyle 1$ : Constant rate of change of consumption (ΔC) with respect to change in income (ΔY), is the reason for the straight line consumption curve.Statement $\displaystyle 2$ : Marginal rate of change between consumption and income is defined as Average Propensity to Consume (APC).In the light of the given statements, choose the correct alternative from the following :
Official answer
From CBSE’s own marking scheme for this paper.
(A)
Statement $\displaystyle 1$ is true and Statement $\displaystyle 2$ is false.
Marking-scheme solution
(A)
Statement $\displaystyle 1$ is true and Statement $\displaystyle 2$ is false.
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CBSE Class 12 Economics past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.