12th Class Economics Sample Paper

done Economics - Sample Paper-15 Total Questions - 24    [Download]

• question_answer1)
  Why is a transformation line downward sloping?                                  
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• question_answer2)
  Explain the stage of diminishing returns to factor.                                    
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• question_answer3)
  Sujata pays Rs. 5,000 as rent of her office building. This is a ...... cost.
  A)
  fixed    
  done clear
  B)
                            variable
  done clear
  C)
  selling               
  done clear
  D)
    opportunity   Not Available
  done clear
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• question_answer4)
  Write any one example of good in whose case law of supply fails.                    
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• question_answer5)

  Explain any two causes of increase in demand.

  or

  What do you mean by complementary goods? Explain the effect of fall in the price of good X on demand of good Y if it is known that good X and good Y are complementary goods,

   
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• question_answer6)
  Distinguish between positive economics and normative economics.            
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• question_answer7)
  "A good may be inferior for one consumer and normal for another." Explain. Distinguish between normal goods and inferior goods,                       
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• question_answer8)
  Explain the impact of the following changes on the supply curve.

  (i) A fall in the price of inputs.

  (ii) Arise in price of substitutes.

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• question_answer9)
  With the help of diagram, explain the impact of minimum price ceiling on the market of a commodity.                                                               Or Explain any four features of monopoly.                                        
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• question_answer10)
  Explain any three properties of indifference curve.         
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• question_answer11)

  Economists say inconsistent statements, such as, "As price falls demand rises, but as demand rises, price rises." Defend or Refute,

  or

  A severe drought results in a drastic fall in output of wheat. Analyse, how will it affect the market price of wheat.

   
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• question_answer12)
  Answer the following questions. (i) The following table gives the Average Product of Labour. Find the Total Product (TP) and Marginal Product (MP). It is given that the Total Product is zero at zero level: labour employment.

  Labour (L)	1	2	3	4	5	6
  Average Product of Labour\[(A{{P}_{L}})\]	2	3	4	4.25	4	3.5

                                      (ii) Explain the law behind the behaviour of TP, MP and AP.                       
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• question_answer13)
  Who presents the annual budget in India?
  A)
              Prime Minister               
  done clear
  B)
              President
  done clear
  C)
  Finance Minister             
  done clear
  D)
  None of these Not Available
  done clear
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• question_answer14)
  Give any two examples of indirect taxes.
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• question_answer15)
  Which bank has the sole authority of printing currency notes in India?              
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• question_answer16)
  Under barter system, animals cannot be divided into smaller units for exchange. This highlights which problem under the barter system?
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• question_answer17)
  Explain the role of the following in correcting the inflationary gap in an economy.

  (i) Legal reserves

  (ii) Bank rate

  Or Explain the role of following in correcting deflationary gap in the economy.

  (i) Margin requirements

  (ii) Open market operations

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• question_answer18)
  Explain the meaning of Marginal Propensity to Consume (MPC). If the MPC is quite high in a country then which economic value stands affected?                  
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• question_answer19)
  Are the following included in the estimation of National Income of a country? Give reasons for your answer.

  (i) Government expenditure on street lighting.

  (ii) Receipts from the sale of land.

  (iii) Money received from a worker, working abroad by his family.

  (iv) Government expenditure on defence.

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• question_answer20)

  Explain any two functions of Central Bank.

  or

  Money has overcome the limitations of barter system. Comment.

   
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• question_answer21)
  Discuss briefly the various components of government budget.                 
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• question_answer22)
  Draw the straight line saving curve for an economy and derive from it the consumption curve, explaining the method of derivation. Show a point on the consumption curve at which Average Propensity to Consume (APC) is equal to
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• question_answer23)
  Calculate National Income from the following :

  S.No.	Items	(-) in crores
  (i)	Net Imports	(-) 10
  (ii)	Private Final Consumption Expenditure	700
  (iii)	Undistributed Profit	20
  (iv)	Net Domestic Capital Formation	120
  (v)	Government Final Consumption Expenditure	200
  (vi)	Net Factor Income to Abroad	(-5)
  (vii)	Corporation Tax	100
  (viii)	Net Indirect Tax	10

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• question_answer24)
  Indian investors borrow from abroad. Answer the following:

  (i) In which sub-account and on which side of the Balance of Payments Account will this borrowing be recorded? Give reason.

  (ii)Explain what is the impact of this borrowing on exchange rate.

  Or Explain any six sources of foreign exchange in a country.       
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