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Non-Competitive Markets

Question
CBSEENEC12012674
Wired Faculty App

What is depreciation?

Solution
Fall in value of fixed assets due to normal wear and tear and expected obsolescence (disuse) is called depreciation (or consumption of fixed capital).

Some More Questions From Non-Competitive Markets Chapter

Final Goods and Intermediate Goods 

Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.

Consumption Goods and Capital Goods

Flow and Stock Concepts

Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth. 

Gross Investment and Net Investment

Domestic (Economic) Territory

National Income at Current and Constant Prices (Nominal and Real NI)

Consumption of Fixed Capital (Depreciation)

Factor Cost vs. Market Price (or Net Indirect Taxes)

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Mock Test Series

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