CBSE Economics sample paper2 Class XII 2009

http://www.cbseguess.com/-------------------------------------------------------------------------------------------------------www.cbseguess.com Other Educational Portals www.icseguess.com | www.ignouguess.com | www.dulife.com | www.magicsense.com Sample Paper – 2009 Class – XII Subject –ECONOMICS ________________________________________________________________________ TIME : 3 HOURS MAX. MARKS:100 ________________________________________________________________________ General Instructions: i) All questions in both the sections are compulsory. ii) Marks for questions are indicated against each. iii) Questions Nos 1 to 5 and 17 to 21 are very short answer questions carrying one mark each. They are required to be answered in one sentence each. iv) Questions Nos 6 to 10 and 22 to 26 are short answer questions carrying three marks each. Answer to them should not normally exceed 60 words each. v) Questions Nos 11 to 13 and 27 to 29 are also short answer questions carrying four marks each. Answer to them should not normally exceed 70 words each. vi) Questions Nos 14 to 16 and 30 to 32 are long answer questions carrying six marks each. Answer to them should not normally exceed 100 words each. vii) Answers should be brief and to the point and the above word limit be adhered to as far as possible. SECTION –A 1. What does a movement from a point within the production possibility frontier to a point on the frontier indicate? 2. What will you say about MPP of a factor when TPP rises at diminishing rate? 3. Briefly explain the meaning of cost-function. 4. What would be the minimum price that a producer must charge? 5. What causes an upward movement along a supply curve of commodity? 6. What is opportunity cost of a given activity? Explain it with the help of an example. 7. Suppose the price of a commodity is given as Rs.8 and the M.U. schedule in terms of money for 4 units is given as : Units consumed: 1 2 3 4 Marginal Utility: 12 10 8 6 How many units of the commodity is purchased by the consumer so that his Total Utility is maximum? http://www.cbseguess.com/-------------------------------------------------------------------------------------------------------www.cbseguess.com Other Educational Portals www.icseguess.com | www.ignouguess.com | www.dulife.com | www.magicsense.com 8. The coefficient of price elasticity of demand of a commodity is -1.5. Find the percentage change in Total Expenditure when its price falls by 10%. Or What is the likely effect on the supply of a good if a unit tax is imposed on that good? Explain. 9. Explain the conditions leading to maximization of profit by a producer. Use Total Cost and Total revenue approach. 10. Why do household buy more of a good at a given price? Explain. 11. What are the three stages of production? Where will a rational producer operate? Or Distinguish between Average fixed cost and Average variable cost. How are these calculated? How do they behave with increase in the level of production of a firm? 12. What would be the shape of demand curve so that total revenue is: a) positively sloped straight line passing through the origin. b) A horizontal line. 13. Explain briefly three main features of Monopolistic competition. Draw average revenue curve of this market. 14. Explain with the help of diagrams the effect of the following changes on the demand curve of a commodity a) a rise in price of complementary good b) a rise in income of its buyer. Or Explain the term ‘change in demand’ and represent the same graphically. Also state three factors responsible for change in demand. 15. At a given price of a commodity, there is excess demand. Is this price an equilibrium price? If not, how will the equilibrium price be reached? Use diagram. 16. Distinguish between fixed costs and variable costs. Explain the relationship between marginal cost and average cost. SECTION-B 17. If disposable income is Rs.1000 and saving is Rs.250, find out APC. 18. What is under-employment equilibrium? 19. What does zero primary deficit mean? http://www.cbseguess.com/-------------------------------------------------------------------------------------------------------www.cbseguess.com Other Educational Portals www.icseguess.com | www.ignouguess.com | www.dulife.com | www.magicsense.com 20. What will be the effect of fall in bank rate on money supply? 21. If in an economy intended investment is greater that intended savings, what is the effect of it on national income? 22. What is balance of Payment account? Name two components of its current account and capital account. 23. Calculate Gross National Disposable Income from the following data: Rs.(inCr.) a. National income 800 b. Net Indirect taxes 100 c. Net factor income from abroad 30 d. Net current transfers paid to rest of the world 50 e. Consumption of fixed capital 70 Or Calculate Gross Value Added at factor cost from the following data: Rs.(in Cr.) a) Gross Value of Output at market price 10000 b) Depreciation 1000 c) Indirect taxes 750 d) Economic subsidies 250 e) Intermediate consumption 5000 f) Compensation of employees 2000 24. Explain the ‘standard of deferred payments’ feature of money. 25. Explain the meaning and nay one function of commercial bank. 26. Distinguish between revenue expenditure and capital expenditure in a government budget. Give two examples of each. 27. What are the implications of a large revenue deficit? Give any two measures to reduce this deficit. 28. Why the demand curve for foreign exchange is negatively sloped? Explain. OR Explain the relation between foreign exchange rate and supply of foreign exchange. 29. Distinguish between Average Propensity to consume and Marginal Propensity to Consume. The value of which these two can be greater than one and when? http://www.cbseguess.com/-------------------------------------------------------------------------------------------------------www.cbseguess.com Other Educational Portals www.icseguess.com | www.ignouguess.com | www.dulife.com | www.magicsense.com 30. Describe the steps involved in the estimation of national income by income method. State any two precautions that must be taken in this method. OR Are the following included in estimation a country’s national income? Give reasons a) Receipt of scholarship from government b) Sale of shares. c) Construction of a new house. 31. Distinguish between inflationary gap and deflationary gap. Show deflationary gap on a diagram. Can this gap exist at equilibrium level of income? Explain. 32. Calculate National income and Private income from the following data. Items Rs. (in Cr) i. Current transfers by government 25 ii. Net domestic product at factor cost accruing to the Government 90 iii. Government final consumption expenditure 200 iv. Net exports (-) 50 v. National debt interest 60 vi. Net domestic capital formation 100 vii. Consumption of fixed capital 30 viii. Net factor income paid to abroad 20 ix. Private final consumption expenditure 600 x. Net indirect tax 40 xi. Net current transfers from abroad (-) 10 OR Calculate ‘Gross National Product at market price’ and ‘Personal income’ from the following data Rs(in cr.) i. Corporation tax 35 ii. Wages and salaries 500 iii. National debt interest 20 iv. Operating surplus 650 v. Net current transfers from abroad 15 vi. Net factor income from abroad (-) 10 vii. Net capital formation 100 viii. Social security contribution by employers 20 ix. Net indirect tax 40 x. Net domestic product accruing to private sector 300 xi. Current transfers from the government 5 xii. Gross capital formation 120 FROM: R.S. BHULLAR M.A.,M.COM.BED. AMRITSAR. M: 98886-76 976