CBSE Economics sample paper3 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 Guess Paper – 2009 Class – XII Subject – Economics Time: 3 hrs M. Marks 100 General Instructions: (i) All questions are compulsory. (ii) Question nos. 1–10 are very short answer questions carrying 1 mark each. They are to be answered in one sentence. (iii) Question nos. 11–20 are short answer questions carrying 3 marks each. Answer to them should not normally exceed 60 words each. (iv) Question nos. 21–26 are also short answer questions carrying 4 marks each. Answer to them should not normally exceed 70 words each. (v) Question nos. 27–32 are long answer questions carrying 6 marks each. Answer to them should not normally exceed 100 words each. ---------------------------------------------------------------------------------------------------------------------1. Define production function. 2. Define cost. 3. What does problem of ‘what to produce’ refer to? 4. Define AR. 5. What is meant by equilibrium price. 6. Give two reasons for the problem of choice. 7. Define return to Scale. 8. Define marginal cost. 9. Define price elasticity of supply? 10. What are inferior goods? 11. The market demand for a good at Rs.5 per unit is 100 units. When the price changes, demand falls to 50 units. Find the new price, if price elasticity of demand of that good is 2.5 12. Explain consumer’s equilibrium in case of two commodities. 13. Explain law of diminishing return to factor giving suitable example. 14. Explain three determinants of supply for a commodity. 15. Differentiate between micro and macro economics? 16. Explain the relationship between MR and TR. OR http://www.cbseguess.com/-------------------------------------------------------------------------------------------------------www.cbseguess.com Other Educational Portals www.icseguess.com | www.ignouguess.com | www.dulife.com | www.magicsense.com Why AVC curve is U shaped? 17. The price of the commodity changes from Rs.5 to Rs.20. As a result the supply of the commodity increases by 15 units. The price elasticity of supply is 0.5. Find the supply at both the prices. 18. Differentiate between contraction of demand and decrease in demand? 19. How equilibrium price is affected by change in demand? 20. Differentiate between the demand curve of monopoly and monopolistic competition. OR Differentiate between monopolistic competition and perfect competition. 21. Explain the problem of ‘how to produce’ with the help of PPC? 22. Calculate AFC, AVC, MC and AC Output 0 1 2 3 TC 45 75 100 120 23. What are exceptions to the law of demand OR Explain why PPC is downward sloping corve. 24. Explain any two methods of measuring elasticity of supply? 25. Calculate TC and AVC, if AFC at of 3 units is Rs.20 Output 1 2 3 4 5 6 MC 32 30 28 30 35 43 26. Explain the law of demand? What are its assumptions? 27. Explain the factors affecting demand of a commodity. 28. State and explain the law of variable proportions. OR What do you understand by internal economies of scale? Explain its types. 29. a. How will an increase in price of complementary good affects its equilibrium price. b. There is simultaneous increase in demand and supply of a commodity, when it will result in (i) no change in equilibrium price and (ii) rise in equilibrium price. 30. Define Monopoly? Write its features? 31. Explain any six factors affecting elasticity of supply. 32. Define producer’s equilibrium? Explain it with the help of MR – MC approach?