CBSE Guess > Papers > Important Questions > Class XII > 2011 > Economics > Economics By Mr. Pranab Sharma

CBSE CLASS XII

Economics (Revision/Self Assessment test)

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31. Consider the market for bread. If the price of wheat rises, then the
    A) demand curve for bread shifts leftward.
    B) supply curve of bread shifts leftward.
    C) price of bread falls.
    D) equilibrium quantity of bread increases.
    E) demand curve for bread shifts rightward.
32. Consider the market for turkeys. In the United States, because of Thanksgiving in the month of November,
    A) there is a downward movement along the demand curve for turkeys.
    B) there is an upward movement along the supply curve for turkeys.
    C) the supply curve of turkeys shifts leftward.
    D) the demand curve for turkeys shifts leftward.
    E) neither the demand curve nor the supply curve shift; instead there is a movement along both curves.
33. Consider the market for feather pillows. If there is an increase in the price of feather dusters, a substitute in production for feather pillows, then
    A) the price of feather pillows decreases.
    B) the demand curve for feather pillows shifts leftward.
    C) the supply curve for feather pillows shifts leftward.
    D) there is a downward movement along the demand curve for feather pillows.
    E) the demand curve for feather pillows shifts rightward.
34. Consider the market for peanut butter. If there is an increase in the price of peanuts,
    A) there is an upward movement along the supply curve for peanut butter.
    B) the supply curve for peanuts shifts rightward.
    C) there is a decrease in the supply of peanuts.
    D) there is a decrease in the supply of peanut butter.
    E) there is a decrease in the demand for peanut butter.
35.   Peanut butter and jelly are complements for many consumers. Consider the market for peanut butter. If there is an increase in the price of jelly,
    A) there is a movement along the supply curve of peanut butter.
    B) the price of peanut butter rises.
    C) the quantity of peanut butter increases.
    D) there is a shift in the supply curve for jelly.
    E) the demand curve for peanut butter does not shift; instead there is a movement along it.
36. Consider the market for wheat. If there is an improvement in harvesting technology,
    A) the supply curve for wheat shifts rightward.
    B) the demand curve for wheat shifts rightward.
    C) there is a movement up along the demand curve.
    D) the equilibrium price rises.
    E) the demand curve for wheat shifts leftward.
37. Consider the market for camera film. If more people start using digital cameras, which do not require film,
    A) the supply curve of film shifts rightward.
    B) the demand curve for film shifts leftward.
    C) there is a movement up along the demand curve for film.
    D) there is a movement down along the demand curve for film.
    E) neither the demand curve nor the supply curve for film shifts; instead there is a movement along both.

38. Consider the market for leather shoes. If producers believe the price of leather shoes will increase next month, today
    A) the supply curve for leather shoes shifts rightward.
    B) the supply curve for leather shoes shifts leftward.
    C) there is a movement along the supply curve for leather shoes.
    D) the equilibrium price of leather shoes falls.
    E) the equilibrium quantity of leather shoes increases.
39. Consider the market for peanut butter. If there is an increase in the price of bread (a complement for peanut butter) along with a drought in peanut growing areas, the
    A) equilibrium quantity of bread increases.
    B) equilibrium quantity of peanut butter definitely decreases.
    C) equilibrium quantity of peanut butter might increase or might decrease.
    D) equilibrium price of peanut butter definitely rises.
    E) equilibrium price of peanut butter definitely falls.
40. Consider the market for peanut butter. If there is a decrease in the price of deli turkey slices (a substitute in consumption for peanut butter) along with a decrease in the price of peanut brittle (a substitute in production for peanut butter), the
    A) equilibrium price of peanut butter definitely falls.
    B) equilibrium quantity of peanut definitely decreases.
    C) equilibrium price of peanut butter might rise or fall.
    D) equilibrium quantity of peanut butter definitely increases.
    E) equilibrium price of peanut butter definitely rises.

 

Submitted By Mr. Pranab Sharma
Email Id : [email protected]