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In the pair annihilation, the electron and positron in the stationary state combine with each other and annihilate. Surely, the particles are disappeared and radiation energy will occur instead of two particles.

K^– + K⁺ + 2m₀c² = 2 hv where K^– and K⁺ represent the kinetic energy of the electron and positron before the collision. Also, 2 m₀c² means the rest mass energy of both particles.

This is the difference in mass of the constituent nucleons and the nucleus formed.

It is a defect of the eye. A shortsighted person can see only near objects clearly but is not able to see far objects clearly. It is due to the decrease in focal length of the eye lens.

X stands for γ-rays. Conservation law gives both its mass number and atomic number to be zero.

That the entire positive charge and 99 % mass is concentrated in the center of the atom called the nucleus.

The focal length of a convex lens increases as the wavelength increases. This is so because the refractive index decreases with increase in wavelength of light.

T_1/2 = 1550 years, λ = ?

Using the expression λ = \(\frac{0.693}{T_{\frac{1}{2}}}\) \(\frac{0.693}{1550}\)

= 4.47 x 10^-4 per year

Threshold wavelength is the maximum wavelength of light corresponding to which the photoelectric effect just starts.

(i) It is the minimum frequency below which photoelectric effect does not take place.

(ii) It is the negative potential of the anode for which even the fasts moving electrons cannot reach it.

The lowest frequency of light which can emit photo electrons from a material is called ‘threshold frequency’ or ‘cut-off frequency’ of that material.

• Primary is smaller than secondary.
•  Primary is darker than secondary

Short-sightedness : Person can see near by objects clearly but cannot see the far-away objects.

Demand deposits and time deposits: 

• Demand deposits can be withdrawn at any time, whereas the time deposits can be with-drawn only after the expiry of a specific period. 

• There is no interest rate on demand deposits, whereas the time deposits carry a higher interest rate. 

• Demand deposits are chequeable and can be withdrawn through cheques, whereas time deposits are not chequeable.

(a) The income of the consumer determines the purchasing power of the consumer. There is a direct relationship between the income of the consumer and his demand for a product. The demand for good increases when the income of the consumer increases because purchasing power of the consumer increases. Now he has more income to spend on different goods and services. 

(b) X and Y are substitute goods. A rise in the price of X result in a rightward shift of the demand curve of Y because substitute goods are those goods which satisfy the same type of need and hence can be used in place of one another to satisfy the given want. If price of good X rise, the consumer will shift his demand from X to Y good because they can be used in place of one another.

It includes all payments and benefits made by employers to their employees both in cash and kind in lieu of their production services. 

It is also known as income from work. It includes:

• Wages and salaries paid in cash or kind. 

• Employer’s contribution to social security schemes. 

• Payment of pension to retired persons.

1. Externalities: 

(i) Externalities refer to benefits or harms of an activity caused by a firm or an individual, for which they are not paid or penalised.

(ii) Externalities occur outside the market i.e., they affect people not directly involved in the production and or consumption of a good or service. They are also known as spill-over effects. Externalities are not taken into account while calculating GDP.

(iii) For example: setting up industry in a town may add up to domestic product but while calculating GDP the pollution and its impact on society are not taken into account.

(iv) The industrial growth and urbanisation create problems like industrial slumps diseases and crime. The damage to the physical and social environment has an adverse impact on the health and welfare of the community. Thus despite an increase in GDP, no accurate conclusion can be drawn on the welfare level.

2. Distribution of GDP: 

(i) GDP shows the total value of goods and services produced in a country. However, it does not exhibit how the GDP is distributed among the people. 

For example: GDP of India is rising but it is not being equally distributed among all the strata of people. The major share of the increase is being grabbed only by the uppermiddle class and share of poor of the poorer is decreasing.

(ii) If with every increase in the level of GDP, Distribution is getting more unequal, the welfare level of society may not rise.

(iii) No doubt, GDP is a useful measure of the overall productive activities in a country, yet no welfare implication, on it basis, can be derived, unless it is fairly divided among all the section of the society.

Expenditure Method:

GDP_MP = Private final consumption expenditure + Government final consumption

expenditure + Gross Domestic Capital Formation + Net Export

1000 + 550 + (380 + 170) + (-30) = Rs 2,070 

NNP_FC = GDP_MP – Depreciation + NFIA – NIT

2070 – 170 + (-20) – 150 = Rs 1730

Given:

GVO primary (FC) = 950 

GVO secondary (FC) = 470 

GVO tertiary (FC) = 500

Value of intermediate goods in primary sector = 360 

Value of intermediate goods in secondary sector = 200

Value of intermediate goods in tertiary sector = 175

Depreciation = 20 Indirect tax = 35 Subsidy = 10 NFIA = 4

GVA_FC = Gross value of output in each sector – Intermediate product in each sector 

= (950 – 360) + (470 – 200) + (500 – 175)

= Rs 1185 crore

GNP_MP = GVA_FC + Indirect tax – Subsidy + NFIA

= 1185 + 35 – 10 + 4

= Rs 1214 crore 

National Income (NNP_FC) = GVA_FC – Depreciation + NFIA

= 1185-20 + 4 

= Rs 1169 crore

Interest is the price paid to the owner of capital for using the services of capital per period. Often the lender has to bear several other costs. He will lose if the borrower does not return the money in time. This may happen for several reasonsthe borrowers may become bankrupt or he may try to deceive the lender. For these reasons the borrower may due, he may become bankrupt on be may try to decide the lender. For these reasons, the lender has to take a risk. As a price for this risktaking, he extracts an amount from the borrower. This is added to the net interest.

Selling cost is any selling expenses incurred by the firm (particularly expenses for advertisement) under monopolistic competition. The firm desires to accentuate the differences between its own brand and other brands of the product available through its advertising and selling expenses. Thus selling cost have a positive role in strengthening the preferences of the consumers for the advertised product and making the demand for the product relatively inelastic.

The government can correct the adverse Balance of Payment through the following measures.

Export Promotions: The Government of the country having adverse BOP stimulate exports by reducing export duties, giving subsidies and cash assistance to exporters, providing technical and marketing assistance to export-oriented units, providing facilities like quality control, arranging exhibitions of exportable goods, exempting export goods from taxes, etc. Attempts should be made to attract foreign tourist to encourage tourism. All these measures will increase the volume of exports thereby reducing the deficit in the BOP.

Import Control: To check imports, the Government can impose quota limits may increase import duties or tariffs. This will discourage imports, making BOP favourable.

Average Revenue curve: In monopoly competition, AR curve i.e. Demand curve is inelastic so it is a negatively sloping curve, whereas in Perfect competition as AR curve i.e. Demand curve is perfectly elastic to it is a horizontal line parallel to X-axis as shown below.

Control over market price: In monopoly competition, a monopoly firm has full control over the prices of the commodity. A monopolist is Price maker whereas, in Perfect competition, a firm can’t have any influence on the market price, it is considered price taker only.

Mountain soil is found in hilly regions of Jammu and Kashmir, Sikkim, Assam and Arunachal Pradesh.

(i)  Cotton

(ii)  Wheat

(iii)  Tea

A soil that loses its plant cover becomes exposed to wind and rain and may be rapidly blown or washed away. This condition of soil is known as soil erosion. 

Coal and Petroleum

The two areas in India where limestone is found are Madhya Pradesh and Tamil Nadu.

The most important mineral fuels are coal and petroleum. Characteristics :

(i)  Mineral resources are more or less fixed in quantities and are, therefore, known as exhaustible resources.

(ii)  Mineral ore have to be smelted to remove the impurities and isolate the mineral in a pure state.

The three types of Iron Ore are : 

(i)  Hematite

(ii)  Magnetite

(iii)  Limonite 

Intensive subsistence type of agriculture is mainly practiced in India.

Maize requires loamy or sandy soil, deep and well drained. It is a kharif crop. It requires a temperature between 200°C to 300°C and rainfall ranging between 50 to 100 cm.

Besides being an article of food, maize is also used in the production of starch and glucose. It is also an excellent feed for cattle, poultry and pigs.

The tropical humid climate with temperature varying between 160° to 310°C favors the rearing of silk worms. Modern technology and skilled labor favors industrial production

Longitude of New York = 75°W

Longitude of Madras = 80°E

Difference in degrees = 75° + 80° = 155° 

Difference in time per degree = 5 minutes 

The time in New York is UTC-4 from March to November and UTC-5 from November to March. The time in India is UTC+5:30. 

Therefore, when it’s 3 PM Indian Standard Time, the time in New York is either 4:30 AM EST or 5:30 AM EDT, depending on the date.

Bengaluru – Tamil Nadu Industrial Region has experienced the fastest industrial growth in the post-independence era as :

1. This region is dominated by the cotton textile industry but, over the years many other industries such as large number of silk manufacturing units, sugar mills, leather, chemicals, medicine and engineering industries have also emerged here. 

2. Availability of cheap hydro-electric power from various dams. 

3. Cheap skilled labour, good climate and proximity to vast local markets have favored the concentration of industries in this region.

The conjugate acid of is: HPO4^2- is PO₄^3-

Economic welfare refers to the level of prosperity and quality of living standards in an economy. Economic welfare can be measured through a variety of factors such as GDP and other indicators which reflect the standard of living of people through the level of literacy, level of health facilities, and quality of the environment. GDP is not a robust measure of economic welfare. GDP is an indicator of the standard of living of people in a country. GDP does not directly account for leisure, levels of literacy and health, environmental quality, changes in inequality of income, improvements in technology. However, GDP tends to have a positive relationship with factors that indicate economic welfare. So, a higher GDP is likely to indicate a higher standard of living and economic welfare.

(i) P1 is the price floor. Price floor refers to the minimum price (above the equilibrium price)

fixed by the government, which the producer must be paid for their produce. When the government feels that the price fixed by the forces of demand and supply is not remunerative from the producer ‘s point of view, then it fixes a price (known as price floor) which is more than the equilibrium price.

Most well-known examples of imposition of price floor are agricultural price support programmes and minimum wage legislation. 

(ii) This will lead to a situation of excess supply.

Deficit financing: When a government spends more than what it currently receives in the form of taxes and fees during a fiscal year, it runs into a deficit budget. When the budget deficit is financed by borrowing from the public and banks, it is called deficit financing.

Importance of Public Expenditure on Production of an Economy: 

(i) It helps in creating income for various individuals and firms as a result of the purchase of goods and services and factor services from them. Expenditure on defence, development activities etc. creates demand for various goods and services, creating income for those individuals and firms producing them, thus increasing the purchasing power of the people.

(ii) It can help in increasing the production by increasing the efficiency of the people (by spending on education, medical facilities, sanitation etc.).

(iii) It can be used to create human skills through education and training thus increasing the ability to work and produce more.

(iv) It can be used as a means of producing essential raw materials and important inputs in the public sector, thus removing various shortages and ensuring smooth production.

(v) It is helpful in promoting and developing the basic and key industries such as capital goods industries.

(vi) Public expenditure incurred in providing social security schemes increases the purchasing power of low-income groups and hence their ability to work, thus increasing their willingness to work because of secured future assured by these policies.

Primary deficit is one of the parts of fiscal deficit. While the fiscal deficit is the difference between total revenue and expenditure, the primary deficit can be arrived by deducting interest payment from fiscal deficit. The interest payment is the payment that a government makes on its borrowings to the creditors.

Public Expenditure increases the level of employment: Public expenditure leads to increase in the level of employment in the country; especially in the underdeveloped countries like India. 

For example, Rural Public Works Programmes have been launched to provide employment in rural areas like irrigation scheme, construction work and flood control etc. In this way through public expenditure, the government can create additional employment opportunities and increase the level of income also.

The law of supply states that other things being equal, the quantity of a good supplied increases with an increase in price level and decreases with a decrease in price level of the good. The supply schedule and supply curve show the positive relationship between price and quantity supplied.

Per capital Real income is considered to be a better index of economic welfare than GDP because of following ing reasons:

(i) Only per capital, real income shows a change in per capital av ailability 1 of goods and sen ices to the people of a country which leads to an improvement in the living standard of people as well as economic development. 

(ii) Change in Level of Economic Activity: Increase in per capital real income implies an increase in the level of economic activity (in terms of increase in level production not in terms of an increase in market prices).

Variable cost is the cost which is incurred on variable factors. 

Example: expenditure on raw materials, wages and salaries paid to workers who are not permanent.

Primary deficit is that part of fiscal deficit which indicates borrowing requirement to make up the shortfall in receipts on account of expenditure other than the interest payments. In other words.

Primary Deficit = Fiscal Deficit – Interest payment 

Implications of Primary Deficit

• It indicates how much is government borrowing under compulsion to meet expenses other than interest payments. 

• A lower or zero primary deficit indicates that the interest payment of earlier loans has forced the government to borrow.

Fiscal Deficit: Refers to the excess of “Total expenditure” over the “sum of Revenue Receipts and non-debt capital receipts. It is calculated as:

Fiscal Deficit = Total Budget Expenditure (Revenue + Capital Exp.) – Revenue Receipts – Non debt Capital Receipt.

It indicates borrowing requirements of the government during the budget year.

A tax levied on goods and services rather than on income or profit is called an indirect tax.

A direct tax cannot be shifted whereas indirect tax may be shifted. For example, GST is an indirect tax and can be shifted whereas income tax is a direct tax and cannot be shifted.