CBSE Important Questions

CBSE Guess > Papers > Important Questions > Class XII > 2012 > Economics > Economics By Mr. Raghuvanshi Kuldeep

Economics - CBSE CLASS XII

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Set - III

Section: A  -Micro Economics

Q.1. What do you mean by the opportunity cost?          For - 1 Mark

Q.2. Define budget constraints          For - 1 Mark

Q.3. What will be the ED on the mid point of a straight line dd curve moving from left to right          For - 1 Mark

Q.4. What is equilibrium market price?          For - 1 Mark

Q.5 .Define explicit cost?          For - 1 Mark

Q.6. Give reason which one of the following are true or false -          For - 3 Marks
A. An economy always produces on  but not inside PPC
B. Massive unemployment shifts the ppc to the left.
C. An economy can not operate on any point outside the ppc

Q.7. What does a point on budget line indicate in terms of price ? State the relation between slope of  budget line and price ratio          For - 3 Marks

���Or�   

Q. Define the followings-------
  A. Substitution effect  , b. income effect,    c.  giffen  good�

Q.8. Commodity x and y have equal  price elasticity of supply. The supply of X rises from 400 units  to 500 units due to a 20% rise in its price. Calculate the percentage fall in  supply of Y commodity if its price falls by 8% .          For - 3 Marks

Q.9. Explain the relationship between ATC and MC. Use diagram          For - 3 Marks

Q.10. Define excess dd. How  is equilibrium  restored  in situation of  excess dd          For - 3 Marks

Q.11.Draw a negative slopped dd  curve touching both axis mark any 5 points on it and comparer the Ed on these points.          For - 4 Marks

Q.12 .When a producer changes only one input keeping other as fixed in order to bring the change in output., why does MP of an input increase? 

Or

Q.. Can MC rise when AC is falling? Explain( alternative--- can AC be above to the MC when MC is rising?          For - 4 Marks

Q.13. How will the change in price of substitute goods   affect the supply curve of a commodity?          For - 4 Marks

Q.14 . A. Why do people purchase more at same price?           For - 3 + 3 Marks

 B. What would be the shape of price line so that TR curve is--------------
i. positively slopped  straight line passing through origin.
Ii. horizontal line

Q.15 .A. What is meant by price rigidity ? Why prices are rigid under  oligopoly?

B. Explain the nature of AR curve under different market situations?

Or

Q. At what level of price do the firm in firm in a perfectly competitive mkt. supply when free entry and exit is allowed in the market? How is  equilibrium qty is determined in such a market?          For - 6 Marks

Q.16 . Define producer equilibrium. Calculate  (a) Break even point ; (b) Maximum profit of a firm assuming that the firm  sells  all the units at Rs 5
per unit…          For - 6 Marks

Qty         0       10      20    30      40     50   60
TC (Rs)   50     100   130    150  160   170  200

Section B: Macro Economics 

Q.17. Define involuntary unemployment          For - 1 Mark

Q.18. The  price of 1 dinar has fallen  from Rs.40 to Rs 30. Has the Indian currency appreciated or depreciated          For - 1 Mark

Q.19. Define SLR?          For - 1 Mark

Q.20 .Define autonomous consumption?          For - 1 Mark

Q.21 .If the disposable income is Rs 2000 and consumption  expenditure is Rs300.Caiculate APS ?          For - 1 Mark

Q.22 . the following data relating to a firm calculate its  NVA fc           For - 3 Marks

Item Rs
Subsidies 40
Sales 500
CFC   20
Exports 130
 C S  20
OS 30
Intermediate purchase  200
Purchase of machinary for own use  100
Imports of raw material  40

Q.23 Define transfer payments. Why these payments are not included in national income.Give two examples of transfer payments          For - 3 Marks

 Or

Q.Give the reason not to be included in NY
A. Employers  contribution
B. Income received from the sale of share
C. Windfall  gain

Q.24 . Explain the effect of depreciation of domestic currency  on exports and imports of domestic economy.          For - 3 Marks

Or

Q. Explain the affect of appreciation of domestic currency on exports and imports of domestic economy

Q.25 . Define current account of BOP. How  is it  different from capital A/C of BOP. IS exports of machinery  recorded in current account or capital A/C ? give reason.          For - 3 Marks

Q.26How can budgetory policy be used for reducing inequalities in  income and wealth ?          For - 1 Marks

Q.27 . Explain the clearance house function of central bank.          For - 4 Marks

Or

Q. Explain the reserve ratio method of credit control used by the central bank.

Q.28 . Is public debt    always burdensome for an economy?          For - 4 Marks

Q.29. State the implications of a Revenue Deficit? Give two measures to reduce the revenue deficit.           For - 4 Marks

Q. 30 . State whether the following statement are true or false. Give reason for  your answer.-----
A. Capital formation is a flow
B. A machine is always a capital good
C.Nominal GDP can never be less than Real GDP
D .Gross domestic capital is always greater than gross fixed capital formation.            For - 6 Marks

Q.31 . The savings function off an economy is S=-200 +.25Y .The economy is in equilibrium when income is equal to 2000. Calculate--------
A. Investment expenditure at equilibrium level of economy
B. Autonomous consumption
C. Investment multiplier

 Or

Q. How does  a. Margin requirement of loan and , b. public expenditure is helpful to combat the problem of� excess and deficient AD.            For - 6 Marks

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Q. 32 . Calculate  GNPmp and NET national Disposable income            For - 6 Marks

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Item Rs
1.Current transfer from government     35
2.Compensation of employees 400
3.Net current transfer from rest of the world  45
4.Rent  800 
5.Consumption of fixed capital 50
6.Interest 150
7.Net indirect tax   60
8.Profit  200
9.Mixed income of self employed   100
Net factor income from abroad 35
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Prepared By: Mr. Raghuvanshi Kuldeep
mail to: [email protected]