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

Economics - CBSE CLASS XII

Set - I

Section: A  -Micro Economics

Q.1. Define positive economics          For - 1 Mark

Q.2. Define inelastic demand          For - 1 Mark

Q.3. In which competition a firm is the price taker?         For - 1 Mark

Q.4. Why demand for water is inelastic?          For - 1 Mark

Q.5. What is the shape of MR curve of a firm under competitive market.?          For - 1 Mark

Q.6. Explain the  problem of an economy related to “ distribution of product” . give example

For - 3 Marks

Q.7. Distinguish between increase in dd and increase in quantity demand

Or

Q.. Why demand curve of normal goods is negatively slopped downward?         For - 3 Marks

Q.8 .How does the change in income of buyer is related with the dd for a commodity?

Q.9 .A consumer buys 10 units of good X at a price of Rs 5 per unit. The price elasticity of demand for this good is 2.Price falls to Rs 4/unit. How much units of good X will he now buy at this price?          For - 3 Marks

Q.10. State whether the following statement are true or false. Give reason          For - 3 Marks
A. Ist stage is the best stage  of production.
B. Summation of MC is equal to TC.
C. Minimum of AC lies on the left of the min of AVC.

Q.11. Why AR curve of a firm under oligopoly is indeterminate ?            For - 4 Marks

Q.12. A consumer consumes only two goods x and y at a certain level of consumption of these two goods  he finds that MU of both commodity is not equal. Explain the reaction of the consumer             For - 4 Marks

Q.13. Define AVC . How it is related with MC. use diagram.             For - 4 Marks

Or

Q. In perfect competition AR=MR  whereas in imperfect competition AR>MR. Explain why?.

Q.14. Explain the effect of  followings on supply curve of a commodity             For - 6 Marks

a.  Rise in input price

b. Decrease in per unit tax

Q.15. Explain the condition of consumer equilibrium in case of  2 commodity by IC approach. What would happen ifMRSxy is not equal to the price ratio .

For - 6 Marks

Q.16 . Explain the behaviour  of output when firm changes only one input keeping other as fixed. Which is the best stage of production?

Or

( a ) Explain the condition of producer equilibrium by using MR-MC approach.Why  should MC   be rising?

( b ) Market for a good is in equilibrium. If govt. Decrease the subsidies, explain its effect on  equilibrium price             For - 3 + 3 Marks

Section B- Macro Economics

Q. 17 Define primary deposits.          For - 1 Mark

Q.18. Define fiat money          For - 1 Mark

Q.19 What do you mean by frictional unemployment?          For - 1 Mark

Q. 20. Define consumption function.          For - 1 Mark

Q.21 What do you mean by spot exchange rate?          For - 1 Mark

Q.22 From the following   calculate gross domestic capital formation          For - 3 Mark

 Item Rs. Crore Net indirect tax 10 Opening stock 25 Net domestic fixed capital formation 180 Closing stock 25 Consumption of fixed capital 2

Q.23 Explain  how non monetary exchanges are  a limitation  in taking GDP as an index of welfare?          For - 3 Mark

Or

Giving reasons, classify the followings into intermediate and final goods
A. machinery purchased by a dealer of machine
B. A juicer purchased by a juice vendor

Q.24 Explain the “ Standard of deferred payment” function of money.          For - 3 Mark

Q.25 How open market operations are  used to control the flow of credit in an economy?          For - 3 Mark

Q.26 Why does demand for foreign  exchange falls with rise in exchange rate?          For - 3 Mark

Q.27 How  is credit  expanded by commercial banks in an economy?          For - 4 Mark

Q.28 From the following data about the govt. budget find ----Revenue Deficit. , Fiscal  Deficit.,   and Primary  Deficit          For - 4 Mark

 Item Rs in cr Tax receipts 50 Cap 40 Receipts from fee, fine escheats 15 Debt 32 Revenue Expenditure 80 Interest  payments 15

Q.29 How do  the followings  dealt in budget as revenue expenditure or capital  expenditure.  Give reason in support of your answer             For - 4 Mark
i.   Grants to UT’
iii. Expenditure on tax collection
iv. Construction of bunkers for army

Or

Define  forex market . Explain its functions and its kinds.

Q.30 Define current account  deficit. What does it show and how  is it  financed?          For - 6 Mark

Q.31Calculate  (a) NNPfc    (b) Personal income      (c) Personal disposable income            For - 6 Mark

 Item Rs crore 1.NDPmp 38000 2.Income from property and ntrepreneurship  accruing to the govt 600 3.Net factor income to abroad (-)300 4National debt interest 200 5.Current transfer to rest of the world 100 6.Unemployment benefits from govt. 600 7.Net indirect tax 3000 8.Direct tax paid on income 600 9.Corporate profit tax 900

Q.32 In an economy  every time income rises            For - 6 Mark

Or

Q. Explain how can  changes in   a.    Bank Rate   and  b.  Public expenditure   be helpful in  correcting  the situation of excess and deficient AD

Prepared By: Mr. Raghuvanshi Kuldeep
mail to: raghuvanshi.kd@hotmail.com