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XI Economic Important Questions and Answers 2021

 XI economic Important Questions and Answers 2021 “XI= ECONOMICS NOTES”                                  ( By Sir-Tariq )                            Question / Answer  Question 01) Define a trade cycle ? Answer)  A trade cycle is composed of periods of good trade  characterised by rising price  and law employment, percentage,  altering with period of bad trade characterised by talking prices  and high un-employment percentages.                                                                      Question 02) What are sources of public revenue ? Answer) There are two main  sources of public revenue. TAX REVENUE :                                The revenue which is managed through  various taxes is known as tax revenue . A tax is compulsary  constribution imposed by the government . It is , infact  a  legal as well as a personal obligation of a tax-payer to pay his due taxes regularly. Taxes are main sources of revenue.  They effect consumtion, production and distribution. NON-TAX REVENU