Solved papers for 12th Class Economics Solved Paper - Economics 2014 Delhi Set-I

done Solved Paper - Economics 2014 Delhi Set-I

  • question_answer1) Unemployment is reduced due to the measures taken by the government. State its economic value in the context of production possibilities frontier.

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  • question_answer2) Define budget set.

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  • question_answer3) What is meant by revenue in microeconomics?

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  • question_answer4) Give meaning of 'returns to a factor'.

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  • question_answer5) What is perfect oligopoly?

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  • question_answer6) Explain the central problem 'for whom to produce'

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  • question_answer7) A consumer buys 18 units of a good at a price of Rs. 9 per unit. The price elasticity of demand for the good is (-)1. How many units the consumer will buy a price of Rs. 10 per unit? Calculate.

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  • question_answer8)

    State the relation between marginal revenue and average revenue.
    Or
    State the relation between total cost and marginal cost.

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  • question_answer9) What is the behaviour of average fixed cost as output is increased? Why is it so?

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  • question_answer10) Why are the firms said to be interdependent in an oligopoly market? Explain.

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  • question_answer11)

    A consumer consumes only two goods. Explain consumer's equilibrium with the help of utility analysis.
    Or
    A consumer consumes only two goods A and B and is in equilibrium. Show that when price of good B falls demand for B rises. Answer this question with the help of utility analysis.
     

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  • question_answer12) What happens to the demand of a good when consumer's income changes? Explain.

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  • question_answer13) State the behaviour of marginal product in the law of variable proportions. Explain the cause of this behaviour.

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  • question_answer14)

    Explain the conditions of consumer's equilibrium with the help of the indifference curve analysis.
    Or
    Explain the three properties of the indifference curves.

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  • question_answer15)

    From the following information about a firm, find the firms equilibrium output in terms of marginal cost and marginal revenue. Give reasons. Also find profit at this output.
    Output (units) Total Revenue (Rs.) Total Cost (Rs.)
    1 7 8
    2 14 15
    3 21 21
    4 28 28
    5 35 36

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  • question_answer16) Market of a commodity is in equilibrium. Demand for the commodity 'increases'. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

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  • question_answer17) What are demand deposits?

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  • question_answer18) What is involuntary unemployment?

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  • question_answer19) Define marginal propensity to consume.

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  • question_answer20) Define government budget.

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  • question_answer21) Give meaning of balance of trade.

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  • question_answer22) Define externalities. Give an example of negative externality. What is its impact on welfare?

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  • question_answer23)

    Is the following revenue expenditure or capital expenditure in the context of government budget? Give reasons.
    (i) Expenditure on collection of taxes.
    (ii) Expenditure on purchasing computers.

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  • question_answer24) Explain the meaning of balance of payments deficit.

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  • question_answer25) Recently Government of India has doubled the import duty on gold. What impact is it likely to have on foreign exchange rate and how?

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  • question_answer26)

    Define money supply and explain its components.
    Or
    Explain the 'lender of last resort" function of central bank.

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  • question_answer27)

    Calculate investment expenditure from the following data about an economy which is in equilibrium:
    National income = 1000
    Marginal propensity to save = 0.25
    Autonomous consumption expenditure = 200

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  • question_answer28) Government raises its expenditure on producing public goods. Which economic value does it reflect? Explain.

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  • question_answer29)

    Calculate national income from the following:
    (Rs. Arab)
    (i) Net current transfers to abroad (-) 15
    (ii) Private final consumption expenditure 600
    (iii) Subsidies 20
    (iv) Government final consumption of fixed capital 100
    (v) Indirect tax 120
    (vi) Net imports 20
    (vii) Consumption of fixed capital 35
    (viii) Net change in stocks (-) 10
    (ix) Net factor income to abroad 5
    (x) Net domestic capital formation 110

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  • question_answer30)

    Giving reason explain how should the following be treated in estimating gross domestic product at market price?
    (i) Fees to a mechanic paid by a firm.
    (ii) Interest paid by an individual on a car loan taken from a bank.
    (iii) Expenditure on purchasing a car for use by a firm.

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  • question_answer31)

    Explain national income equilibrium through aggregate demand and aggregate supply. Use diagram. Also explain the changes that take place in an economy when the economy is not in equilibrium.
    Or
    Outline the steps required to be taken in deriving saving curve from the given consumption curve. Use diagram.

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Solved Paper - Economics 2014 Delhi Set-I
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