ECONOMICS 2005 (Set I

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CBSE Guess > Papers > Question Papers > Class XII > 2005 > Economics > Delhi Set-I

ECONOMICS 2005 (Set I—Delhi)

SECTION – A

Q. 1. Answer the following questions:

a) Define market supply.
b) What is meant by producer’s equilibrium’
c) Define marginal physical product
d) Define equilibrium price. 4x1

Q. 2. State any three causer of a rig shift of demand curve of a commodity. 3

Q. 3. State the geometric method of measuring price elasticity of supply (In case of straight supply curve). 3

Q. 4. What is the relation between marginal cost and average variable coat? 3

Q. 5. State three main features of perfect competition. 3

Q. 6. Complete the following table:

Output (Units)	Price (Rs.)	Total Revenue	Margial Revenue (Rs.)
1 2 3 4	12 10 8 6	__ __ __ __	__ __ __ __

Q. 7. Distinguish between ‘change in supply’ and ‘change in quantity supplied’ of a commodity. (Use diagrams) 4

Explain any two determinants of supply of a commodity.

Q. 8. Explain the problem of ‘what to produce’ with the help of an example. 4

Q. 9. The quantity demanded pf a commodity at a price of Rs. 8 per unit is 600 units. Its price falls by 25 per cent and quantity demanded rises by 120 units. Calculate its price elasticity of demand. Is its demand elastic? Give reason for your answer. 4

Q. 10. Explain consumer’s equilibrium, in case of a single commodity, with the help of a utility schedule. 6

How is the demand of a commodity affected by changes in the price of related goods? Explain with the help of diagrams.

Q. 11. Explain the law of variable proportion with the help of total and marginal phy- sical product curves. 6

Q. 12. How does an increase in demand of a commodity affect its equilibrium price and equilibrium quantity? Explain with the help of a diagram. 6

SECTION – B

Q. 13. Answer the following questions:

a) Why is repayment of loan a capital expenditure?
b) Define macroeconomics.
c) What is meant by balance of trade?
d) Give two examples of microeconomic studies. 4x1

Q. 14. From the following data about firm ‘X’, calculate gross value added at factor cost by it: 3

	Rs. (in thousand)
(i) Sales (ii) Opening stock (iii) Closing stock (iv) Purchase of intermediate produce (v) Purchase of machinery (vi) Subsidy	500 30 20 300 150 40

Q. 15. Explain the meaning of deflationary gap with the help of a diagram. 3

Q. 16. What is meant by revenue deficit? What are its implications? 3

Q. 17. Complete the following table: 3

Leval of income (Rs.)	Consumption expenditure	Marginal Propensity to consumer	Marginal Propensity to save
400 500 600 700	240 320 395 465	__ __ __ __	__ __ __ __

Q. 18. State the main functions of a central bank. 4

Q. 19. What is meant by visible and invisible Items in the Balance of Payments acc- ount? Give two examples of invisible items. 4

What is meant by foreign exchange rate? Give three reasons why people de- sire to have foreign exchange.

Q. 20. Explain any two functions of a commercial bank. 4

Q. 21. Distinguish between:
a) Revenue receipts and capital receipts.
b) Direct tax and Indirect tax.

Q. 22. From the following data, calculate: 3, 3

(a) Personal disposable income and (b) National income
	Rs. (in come)
a) Private income b) Compensation of employees c) Mixed income of self employed d) Net factor income from abroad e) Net retained earnings of private enterprises f) Rent g) Profit h) Consumption of fixed capital i) Direct taxes paid by households j) Corporate tax k) Net indirect taxes l) Net exports m) Interest	3,000 800 900 (-)50 600 350 600 200 300 350 250 (-)70 450

Q. 23. Explain the working of investment multiplier with the help of a numerical exa- mple. 6

In an economy planned savings exceed planned investment. How will the equality between the two be achieved? Explain.

Q.24. Distinguish between the following giving suitable examples in support of your answer:

(a) Domestic product and national product

(b) Intermediate product and final product 3

Economics 2005 Question Papers Class XII
Delhi		Outside Delhi		Compartment
	Set I		Set I		Set I
	Set II		Set II		Set II
	Set III		Set III		Set III

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