Sample Paper
Pre-Board
Class: XII
Subject: ECONOMICS
Time:
3 Hours M.M.:
80
General Instructions:
1.
All questions in both the sections are compulsory.
2.
Marks for questions are indicated against each
question.
3.
Answer
questions carrying 1 mark each. They are required to be answered in one
sentence each
4.
Questions
carrying 3 marks each. Answer to them should not normally exceed 60 words each.
5.
Questions carrying
4 marks each. Answer to them should not normally exceed 70 words each.
6.
Questions
carrying 6 marks each. Answer to them should not normally exceed 100 words
each.
7.
Answer should be brief and to the point and the
above word limits should be adhered to as far as possible.
Section (A) Micro – Economics
1. In
which form of market, is the demand of a firm perfectly elastic? (1)
2. There
are only a few sellers under (1)
(a) Perfect competition (b)
Monopolistic competition
(c) Monopoly (d)
Oligopoly
3. State
the law of demand. (1)
4. When
marginal utility is zero, total utility is (1)
(a) zero (b) minimum (c) maximum (d) negative
5. The
elasticity of demand for food grains like rice, wheat, medicines is: (1)
(a) elastic (b) inelastic (c) perfectly inelastic (d) unitary elastic
6. Explain
the meaning of opportunity cost with the help of an example. (3)
7. Why
is a Production Possibility Curve concave to the origin? Explain. (3)
OR
Why does an economic problem
arise? Explain.
8. Give
any three factors that can cause a rightward shift of demand curve (3)
9. Explain
the meaning of marginal rate of substitution. Why does it diminish as one good
is substituted for the other? Explain. (3)
OR
Explain the meaning of budget
line. What can cause a change in it? Explain
10. Explain
the implications of the ‘‘freedom of entry and exit’’ feature of perfect
competition. (3)
11. State
the different phases in the behavior of total product in the law of variable
proportions. Also, show the same in a diagram. (4)
OR
Explain the different phases in
the behavior of total product in the law of variable proportions
12. When
the price of commodity A falls from Rs 10 to Rs 5 per unit, its quantity
demanded doubles. Calculate its elasticity of demand. At what price will its
quantity demanded fall by 50 percent ? (4)
13. Complete
the following table: (6)
|
Units of Q |
Marginal cost |
Average variable cost |
Total cost |
Average fixed cost |
|
1 |
60 |
---- |
120 |
---- |
|
2 |
----- |
---- |
174 |
---- |
|
3 |
----- |
54 |
---- |
---- |
|
4 |
54 |
---- |
---- |
15 |
|
5 |
----- |
57 |
345 |
---- |
14. Explain
the meaning and implications of maximum price ceiling and minimum price
ceiling. (6)
OR
State whether the following
statements are true or false. Give reasons for your answer:
(i)
When equilibrium price is greater
than market price there will be excess supply in the market.
(ii)
X and Y are complementary goods. A fall
in the price of Y will result in a rise in the price of X.
Section (A) Micro – Economics
15.
Repo rate
is the rate at which (1)
(a) commercial banks purchase
government securities from the central bank
(b) commercial banks can take
loans from the central bank
(c) commercial banks can keep
their deposits with the central bank
(d) short-term loans are given by
commercial banks
16. When aggregate demand is greater than
aggregate supply, inventories
(a) fall (b) rise (c) do not change (d) first fall, then rise (1)
17.
Give the meaning of
under-employment equilibrium. (1)
18.
What are capital receipts? (1)
19. What is meant by trade deficit? (1)
20. State any three functions of money.
OR
Define money. List its
components. (3)
21. Distinguish between stocks and flows.
Give an example of each. (3)
22. Giving reasons, classify the following
into revenue receipts and capital receipts :
(i) Recovery of loans
(ii) Profits of public sector
undertakings
(iii)
Borrowings (3)
23. Explain money creation function of
commercial banks.
OR
Explain the ‘‘varying reserve
requirements’’ method of credit control by the central bank. (3)
24. Explain how can government budget be
useful in influencing allocation of resources in an economy. (3)
25. An economy is in equilibrium. From the
following data calculate investment expenditure:
(i) Marginal propensity to consume =
0·9
(ii) Autonomous consumption = 200
(iii)
Level of income = 10000
(4)
26. Explain the distinction between the
Current Account and Capital Account of balance of payment.
OR
Explain by giving examples, the
distinction between depreciation and devaluation of domestic currency. (4)
27. In an economy, investment increased by
1,100 and as a result of it income increased by 5,500. Had the marginal
propensity to save been 25 percent, what would have been the increase in
income?
OR
What is saving function? Explain
some important points about saving function also explain Average propensity to
save and Marginal Propensity to save. (6)
28. Calculate (a) national income, and (b)
net national disposable income: (6)
|
Profit |
1000 |
|
Mixed income of self-employed |
15000 |
|
Dividends |
200 |
|
Interest |
400 |
|
Compensation of employees |
7000 |
|
Net factor income to abroad |
100 |
|
Consumption of fixed capital |
400 |
|
Net exports |
(-)200 |
|
Net indirect taxes |
800 |
|
Net current transfers to rest
of the world |
40 |
|
Rent |
500 |
*** all the best ***
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