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
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
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
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 priceb. 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?
( 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
Q.23 Explain how non monetary exchanges are a limitation in taking GDP as an index of welfare? For - 3 Mark
Giving reasons, classify the followings into intermediate and final goods
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
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
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
Q.32 In an economy every time income rises For - 6 MarkOr
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