ECONOMICS 2005 (Set III—Outside Delhi)

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ECONOMICS 2005 (Set III—Outside Delhi)

Except for the following questions, all the remaining questions have been asked in Set I and Set II.

SECTION - A

Q. 1. Answer the following questions: 1x4

(i) Define marginal physical product.

(ii) What causes a movement along a supply curve?

(iii) Under which market form, is a firm a price-taker?

(iv) What is meant by producer's equilibrium?

Q. 4. What change will take place in marginal revenue when :

(a) total revenue increases at an increasing rate

(b) total revenue increases at a diminishing rate

Q. 8. The price of a commodity is Rs 50 per unit and its quantity demanded is 500 units its price rises to Rs 60 per unit and quantity demanded falls by 90 units. Calculate its price elasticity of demand. Is its demand elastic? Give reasons for your answer. 4

Q. 9. Complete the following table: 4

Output (units)	Total Cost (Rs.)	Average Variable Cost (Rs.)	Marginal Cost (Rs.)
0 1 2 3 4	50 80 100 125 158	- - - - -	- - - - -

SECTION - B

Q. 13. Answer the following questions: 1x4

(i) Why is repayment of loan treated as capital expenditure?

(ii) What does a deficit in balance of trade account indicate?

(iii) Define micro-economics.

(iv) Give two examples of macro-economic studies.

Q. 14. Complete the following table: 3

Income (Rs.)	Consumption Expenditure (Rs.)	Marginal Propensity to Consume	Marginal Propensity to save
300 400 500 600	280 375 465 550	- - - -	- - - -

Q. 15. Define a government budget. State any four of its main objectives. 3

Q. 16. From the following data about a firm ‘A', calculate net value added at market price by it: 3

	Rs. (in thousands)
(i) Sales (ii) Net indirect taxes (iii) Change in stock (iv) Purchase of machinery (v) Depreciation (vi) Purchase of intermediate products	850 80 (-) 30 300 70 450

Q. 23. From the following data, calculate:

(a) National Income, and

(b) Personal disposable income. 3,3

	Rs. (in crores)
(i) Profit (ii) Rent (iii) Private income (iv0 Mixed income of self-employed (v) Compensation of employees (vi) Consumption of fixed capital (vii) Net factor income from abroad (viii) Net retained earnings of private enterprises (ix) Interest (x) Net exports (xi) Corporate tax (xii) Net indirect taxes (xiii) Direct taxes paid by households	500 200 1,200 800 1,000 100 (-) 50 150 250 (-) 40 200 160 120

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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