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(b) after the drought of 1966 

Average cost is usually U shaped. At first, the average cost is high due to large fixed cost and small output. As output increases, the fixed cost is thinly spread over the larger number of units produced, and the average cost accordingly falls. This is due to various internal economies and fuller use of indivisible factors. But when diminishing returns sets in due to difficulties of management and limitations of plants and space, the variable costs and therefore average costs start increasing. The lower end of the curve turns up and gives it a U shape. That is why average cost curves are U shaped.

It implies that for a consumer , combination A is as good as combination B ,i.e. both combination give equal satisfaction to him and they are equally preferable .

(c) development of agriculture including irrigation and power projects

Let Gaurav's and Sachin's ages one year ago be 6x and 7x years respectively. 

Then, Gaurav's age 4 years hence = (6x + 1) + 4 = (6x + 5) years. 

Sachin's age 4 years hence = (7x + 1) + 4 = (7x + 5) years.

6x+5/7x+5 = 7/8 

8(6x+5) = 7 (7x + 5) 

48x + 40 = 49x + 35 

x = 5. 

Hence, Sachin's present age = (7x + 1) = 36 years.

Correct option is B) having read / discussing

Correct option is D) working

(i) National income / population

Correct option is C) working

(i) GDP_mp = N.I. + Net indirect taxes + depreciation – net factor income from abroad 

= 64500 + 5500 +7250 – (–150) 

= Rs. 77400 crores.

(ii) Personal income = NI – corporate taxes – part of national income arising to government sector + interest on national debt – undistributed profit + current transfers from abroad + transfer payments by govt. 

= 64500 – 1200 – 1550 + 450 – 2500 + (–200) + 1600 

= Rs. 61100 crores.

(iii) Personal disposable income = Personal income – Direct personal taxes 

= 61100 – 1650 = Rs. 59450 crores.

National Income (NNP_FC) = Compensation of Employees + Operating Surplus + Mixed-Income + NFIA

So, NNP_FC = viii + vii + iii + ii

= 1500 + 5000 + 500 + 50 

= 7050

GDP_MP = NNP_FC + Depreciation – NFIA + NIT (Net indirect tax)

8100 = 7050 + 1000 – 50 + 100 

NNP_FC = Rs 7050 

GDP_MP = Rs 8100.

(b) there is co-existence of public sector along with private sector

Propensity to consume or consumption function expresses the function relationship between total consumption and total income. It refers to the consumption expenditure at various levels of income. The consumption function has two technical attributes or properties which are Average propensity to consume and Marginal propensity to consume. First, APC refers to the ratio of absolute consumption absolute income at a particular point of time. On the other hand MP represents the ratio of change in consumption to change in income; MPC is the rate of change in APC. As income rises both APC and MPC declines, but I lie decline in MPC is more than the decline in APC, as income falls both APC and MPC rises but APC rises at a slower, rate than MPC

The correct answer is British and Dutch.

• Protestants
  • Protestantism is a derivation of Christianity.
  • Roughly around 1 billion people in the world follow it.
  • It began in the 16th century.
  • British and Dutch belongs to Protestants. Hence, Option 1 is correct.
  • It was thought to be a powerful movement against the Catholic Church since many believers found faults in the practices of the Church.
  • One of the major differences between Catholics and Protestants is their deviant views regarding bread and wine during religious ceremonies.  
  • Martin Luther was a German monk in the 15th century. Many of his followers became protestants.
  • Today there are many types of Protestant Churches. For example, Baptist is currently the largest denomination in the United States but there are many dozens more. 
  • To understand the Protestant Reform movement, we need to go back in history to the early 16th century when there was only one church in Western Europe - what we would now call the Roman Catholic Church - under the leadership of the Pope in Rome.
  • Today, we call this Roman Catholic because there are so many other types of churches (for example, Methodist, Baptist, Lutheran, Calvinist, Anglican)
  • They worship the same God, but the principles of their faith are different.
  • Five hundred years after the Reformation, there are still painful divisions between Protestants and Catholics.
  • It all started when Reformation took place, 500 years ago, as Martin Luther (1483-1546) tried to reform the Catholic Church. His attempt to do so instead led to a schism in the church.
  • On October 31, 1517, the publication of his Ninety-Five Theses, which outlined various abusive practices of the church, is considered the founding event that led to this division in Germany and the creation of the Evangelical Church.

The correct answer is Iraq.

• India’s top crude oil supplier
  • Iraq has, for the second year in a row, become India’s top crude oil supplier, meeting more than a fifth of the country’s oil needs in the 2018-19 fiscal year. Hence, Option 2 is correct.
  • According to data sourced from the Directorate General of Commercial Intelligence and Statistics, Iraq sold 46.61 million tonnes (mt) of crude oil to India during April 2018 and March 2019, 2% more than 45.74 mt it had supplied in the 2017-18 fiscal.
  • India provisionally imported 207.3 mt of crude oil in 2018-19, down from 220.4 mt in the previous financial year.
  • Saudi Arabia has traditionally been India’s top oil source, but it was for the first time dethroned by Iraq in the 2017-18 fiscal year.
  • In 2018-19, Saudi exported 40.33 mt of crude oil, up from 36.16 mt of oil sold in the previous year.
  • While India stopped importing crude oil from Iran following the reimposition of economic sanctions this month by the U.S., the Persian Gulf nation was the third-largest crude oil supplier to India. It sold 23.9 mt of crude in 2018-19, up from 22.59 mt in the previous year, according to the data.
  • UAE topped Venezuela to become India’s fourth-largest crude supplier.
  • It sold 17.49 mt of crude oil to India. In 2017-18, Venezuela had supplied 18.34 mt and UAE 14.29 mt.
  • Nigeria was the next biggest supplier with 16.83 mt of exports in 2018-19, down from 18.11 mt in the previous year. Kuwait supplied 10.78 mt of oil and Mexico another 10.28 mt.
  • The U.S., which began selling crude oil to India in 2017, is fast becoming a major source.
  • Supplies from the U.S. jumped more than fourfold to 6.4 mt in the 2018-19 fiscal year. In 2017-18, the first year of imports from the U.S., the supplies were at 1.4 mt.
  • Iran was India’s second-biggest supplier of crude oil after Saudi Arabia till 2010-11, but western sanctions over its suspected nuclear program relegated it to the seventh spot in subsequent years.

The expenditure incurring by the government is known as public expenditure. Developmental and non developmental expenditures are the two sources of public expenditure.

Fees: Reward collected for the government’s services.

Eg: License fees, Tuition fees, Registration fees etc.

Fines and penalties: Punishments for violating the laws.

Grants: Financial aid provided by one government to another.

For example, grants are provided by central and state government to local self governments.

Interest: Amount received for loans provided by the government to various enterprises, agencies and countries.

Profit: Income received from the enterprises operated by the government. 

Eg. Profit from Indian Railways.

Governments policy regarding public revenue, public expenditure and public debt is called fiscal policy.

There are various aims of fiscal policy.

• Attain Economic stability
• Create employment opportunities
• Controls unnecessary expenditure
• It helps to maintain price stability 
• For efficient resource allocation.

1. Fiscal Policy 

2. Budget 

3. Create employment opportunities and Control Unnecessary expenditure

a. The government money for undertaking public institution and for attaining social welfare. 

b. Education sector, Health sector, Social welfare, Public work, Drinking water.

The income of the Govt is known as public revenue. Tax revenue and non-tax revenue are the two sources of public revenue.

a. Loans taken by the government, 

b. External Debts, 

c. Loans availed by the government from individuals and institutions within the country.

Public finance and fiscal policy determines a country’s progress. Public finance is the branch of economics that relates to public income, public expenditure and public debt. It is presented through the budget. Fiscal policy is the government policy regarding public revenue, public expenditure and public debt.

These policies are implemented through the budget. Fiscal policy influences a countries progress. A sound fiscal policy helps in nourishing the developmental activities and to attain growth.

Fispal policy controls inflation and deflation which affect economic security. The tax rate is increased when there is inflation. As a result of this, the purchasing power of the people falls. Similarly tax is reduced at the time of deflation. That will increase purchasing power of the people. As a result the demand for products increases. This results in an increase in the price of the products. The timely application of fiscal policy helps the government to over-come such situations.

Export duty and import duty.

Fees, fines and penalties. Grants, interest, Profit.

a. By government, 

b. Non-developmental, 

c. For constructing road, 

c. Agriculture, 

d. interest, pension.

Personal income tax, Corporate tax.

We get annual percapita debt of India by dividing total debt of a year with population of the year.

According to 2011 population census our population is 1, 21, 01, 93, 422.

Public debt of 2015 = 5, 50, 36, 75

Per capita debt = 1, 21, 01, 93, 422 – 5503675

= 00, 45, 47, 76 crores

a. Indirect Tax, 

b. Personal income tax, 

c. Tax imposed on the net income or profit of a company, 

d. Land tax, 

e. Excise duty, 

f. Imposed on import and export of products, 

g. Service Tax, 

h. Taxes imposed on services.

Land tax remitted receipt.

Land tax will remit at their own village offices.

The public expenditure of the year 2010-ll was 1197328 Crore. In the year 2011-12 it increased by 107037 Crore and became 130463 Crore. In 2012-13 it increased by 106007 Crore and became 141037 Crore. In 2013 -14, it increased by 149075 Crore and became 1559447 Crore.

In 2014-15 the public expenditure increased by 121711 Crore and became 1681158 Crore. In 2015-16 the public expenditure increased by 96319 Crores and became 1777477 Crores. In 2016-17 the public expenditure increased by 197717 Crores and became 1975194 Crores.

• Increase in defense expenditure 
• Welfare activities
• Urbanization 
• Inflation.

The scale of each map sheet is 1 : 1000000 in India and adjacent countries. So they are called Million sheets.

• Taxes, cess and surcharges that are to be merged into GST.
• The goods and services that are to be brought under GST.
• Determining GST rates.
• The time frame for including the excluded items into GST.
• Determining the tax exemption limit on the basis of total turnover.

This is professional tax

• Broad guage 
• Metre guage

1. Fort 

2. Well 

3. International Boundary

This is for understanding the maps prepared by a country by any other countries

Local self government institutions.

Budget is the financial statement showing the expected income and expenditure of the government during a financial year. Three types of budget are Balanced Budget, Surplus Budget, Deficit budget.

A. Railway – broad gauge 

B. Railway with station 

C. Railway with meter gauge 

D. Level crossing 

E. Railway with bridge

Contours are imaginary lines drawn connecting places having equal elevation from the sea level. The respective altitude will be contour values.

• To know about height of a place.
• To know about nature of slope of a place.
• Shape of the land form.

a. Corporate tax, 

b. 209774 crores, 

c. Profit, 

d. Tax income.

Write and explains fiscal policy

• Economic stability 
• Employment opportunity 
• Control unnecessary expenses 
• Control inflation and deflation 
• Economic discipline

Government’s policy regarding public revenue, public expenditure and public debt is called a Fiscal policy. A sound fiscal policy helps in nourishing the developmental activities and to attain growth.

Productive debt and unproductive debt :- If the borrowed amount is used for productive purposes it is known as productive debt. Unproductive debt includes expenses like war finance and covering budgetary deficit. Compulsory and voluntary debt Compulsory debt is done in times of war, inflation etc. If the people are free to buy or not to buy the bonds debentures issued by the government. It is voluntary debt.

Redeemable and Irredeemable debt :- Redeem able debts are repaid with in a specific period of time. It there is no time limit for repayment it is redeemable debt.

Funded and Unfunded debt :- Funded debts are taken for a long period and for specific purpose. Short term debts are called unfunded debts.

The given topo sheet is 45^th sheet of a topographical map. All the topo sheets contain such number.