12th Class Economics Sample Paper

done Economics - Sample Paper-12 Total Questions - 24    [Download]

• question_answer1)
  For a densely populated country like India, which technique of production should be preferred and why?                                                               
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• question_answer2)
  Which of these curves is usually U-shaped?
  A)
  Average cost curve         
  done clear
  B)
    Marginal cost curve
  done clear
  C)
  Both [a] and [b] 
  done clear
  D)
    None of these                                      Not Available
  done clear
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• question_answer3)
  Which amongst the following is a cause of diminishing returns to a factor?
  A)
  Fully utilisation of fixed factor      
  done clear
  B)
  Better coordination between factors
  done clear
  C)
  Fixity of the factor
  done clear
  D)
                None of these                                      Not Available
  done clear
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• question_answer4)
  Vishnoi borrows money to run a business and manages the business himself. Identify implicit cost.                                                                
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• question_answer5)

  Differentiate between individual demand schedule and market demand schedule.

  or

  How does the budget line change, if the consumer's income increases from T 8000 to Rs. 10,000 per month but the price of the goods remain unchanged?

   
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• question_answer6)
  An economy produces two goods, wheat and guns. The following table summarises its production possibilities. With the help of schedule, determine the shape of the curve? Which social value is neglected if the economy decides to produce only guns?

  Wheat (in kg)	Guns (in units)
  100	0
  90	25
  70	50
  40	75
  10	85
  0	87

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• question_answer7)

  What are the effects of change in the price of a substitute good on the demand for a commodity? Explain it with the help of a diagram.

  or

  What is the likely impact of fall in price of one good on indifference curve if it is assumed that consumer only consumes two goods?

   
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• question_answer8)
  Bring out four points of difference between perfect competition and oligopoly.                          
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• question_answer9)
  Complete the following table:                                                 

  Output (units)	Total Cost (TC)(Rs.)	Average Fixed Cost (AFC)(Rs.)	Average Cost  (AC)(Rs.)	Total    Variable Cost (TVC)(Rs.)	Marginal  Cost (MC)(Rs.)
  1	200	60	-	-	-
  2	260	30	-	-	-
  3	390	20	-	-	-

           
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• question_answer10)
  What is equilibrium price? How is it determined? Explain with the help of a demand and supply schedule and diagram.                                          
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• question_answer11)

  Distinguish between extension of supply and increase in supply with the help of a diagram.

  or

  Define supply and market supply. What is the effect on the supply of goods when government imposes a tax on the production of goods? Explain.

   
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• question_answer12)

  (i) When price of a good is Rs.7 per unit, a consumer buys 12 units. When price falls to Rs.6 per unit, he spends Rs.72 on the good. Calculate price elasticity and comment shape of demand curve.

  (ii) Price elasticity of demand of a good is (-) 0.75. Calculate the percentage fall in its that will result in 15% rise in demand.

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• question_answer13)
  What do you understand by performance budget?                           
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• question_answer14)
   In India, what type of taxes are generally of no of little signifance due to their very low revenue yield to government?
  A)
  Paper taxes                                           
  done clear
  B)
  Specific taxes
  done clear
  C)
  Regressive taxes
  done clear
  D)
                Indirect taxes                               Not Available
  done clear
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• question_answer15)
  Give two examples of general utility functions performed by commercial banks? 
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• question_answer16)
  The legal reserve ratio is 25% and the money created in the economy is Rs. 2,00,000  crores. Find the level of initial deposits.                                        
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• question_answer17)

  Explain the meaning of over employment equilibrium. Support your answer with diagram.

  or

  Central Bank can play an important role in controlling deflationary trends in an economy. How?

                                                            
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• question_answer18)
  In an economy, the MPC is 0.80. Investment expenditure in the economy increases by Rs.80 crores. Calculate the total increase in national income.                    
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• question_answer19)
  From the following data, calculate \[GD{{P}_{MP}}\]and\[NN{{P}_{FC}}\]

  S. No.	Items	(Rs.) in crores
  (i)	\[NN{{P}_{MP}}\]	15,000
  (ii)	Net Factor Income from Abroad	250
  (iii)	Indirect Tax	200
  (iv)	Subsidies	150
  (v)	Depreciation	500

  Or Will the following items be included in the estimation of national income?

  (i)  Financial help to flood victims.

  (ii) Retirement pension to the employees.

  (iii) Expenditure by government on providing free education.

  (iv) Salary paid by firm to its worker.

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• question_answer20)
  Evolution of money has led to expansion of market. Explain how?               
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• question_answer21)
  From the following data about a government budget, find out

  (i) Revenue deficit,

  (ii) Fiscal deficit and

  (iii) Primary deficit.

   

  S. No.	Items	(Rs) in arab
  (i)	Capital Receipts Net of Borrowings	95
  (ii)	Revenue Expenditures	100
  (iii)	Interest Payments	10
  (iv)	Revenue Receipts	80
  (v)	Capital Expenditures	110

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• question_answer22)

  Explain consumption function with the help of a schedule and diagram.

  or

  Explain saving function with the help of a schedule and diagram,

   
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• question_answer23)
  Bring out the limitations of Gross Domestic Product (GDP) as an index of welfare of people.                                                                    
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• question_answer24)
  What do you understand by foreign exchange rate? Explain with the help of examples appreciation and depreciation in foreign exchange rate. If the government of our country devaluates the rupee then which economic value stands affected?        
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