CENTRAL BOARD OF SECONDARY EDUCATION
CLASS = XII - (ALL INDIA)
ECONOMICS QUESTION PAPER - 2013
(MARCH)
SECTION - A
1. Define marginal revenue. (1)
2. What does right ward shift of demand curve indicate?
( 1.)
3. Under which market form a firm is price taker? (1)
4. When is the demand for good is perfectly inelastic? (1)
5. Give one reason to 'increase' in supply of a
commodity.
(1)
6. How is demand of a good affected by a rise in the prices
of the other goods? (
3)
7. A firm supplies 10
unit of a goo d at price of Rs. 5 per unit. Price elasticity of supply is 1:25
. What
quantity will the
firm supply at a price of Rs.7 per unit? (3)
8. Explain the meaning of diminishing marginal rate of substitution with the help
of a numerical
example. (3)
9. From the following table , find out the level of output
at which the producer will be in equilibrium . Give reasons for yours answer.
(3)
Output
|
Marginal Revenue
|
Marginal Cost.
|
1
2
3
4
5
|
8
8
8
8
8
|
10
8
7
8
9
|
10. Why is the demand curve of a firm under Monopolistic
competition more elastic than under monopoly? Explain. (3)
OR
Why is the demand
curve of a firm under monopolistic competition more elastic than under monopoly
? Explain. (3)
11. Equilibrium price of an
essential medicine is to high. Explain what possible steps can be taken to
bring down the equilibrium price but only through the market forces. Also
explain the series of changes that will occur in the market. (4)
12. Explain the meaning of opportunity cost with the help of
production possibility schedule. (4)
OR
With the help of
suitable example , explain the problem of 'for whom to produce'.
13. A 5 percent fall in the price of a good raises its
demand from 300 unit to 318 units. Calculate its price
elasticity
demand. (4)
14. Explain three properties of indifference curves. (6)
OR
Exp[lain the
consumer's equilibrium under indifference curve approach. (6)
15. If equilibrium price of a good is greater than its
market price, explain all the changes that will take place in the market. Use
diagram. (6)
16. Giving increase, state whether the following statements
are true or false: -
(6)
(i) Average product will increase only when marginal product
increases.
(ii) With increase in level of output, average fixed cost
goes falling till it reaches zero.
(iii) Under diminishing returns to a factor , total product
continues to increase till marginal product reaches zero.
SECTION - B
17. Give two examples of intermediate good. (1)
18. State the component supply of money. (1)
19.What can be one steps taken through market to reduce the consumption of a product harmful for
health. (1)
20. How can Reserve Bank of India help in bringing down the
foreign exchange rate which is very high?
(1)
21. What is revenue deficit?
(1)
22. Explain the ' medium of exchange function of money. (3)
OR
Explain the ' Lender of exchange' function of money. (3)
23. Distinguish between revenue receipt and receipt receipts.
Give an example of each. (3)
24. How can budgetary policy be used to reduce in equalities
of income? (3)
25. Explain the effects of depreciation of domestic currency
on exports. (3)
26. How is exchange rate is determined in the foreign
exchange market? (3)
27. Calculate sale from the following data: - (4)
Sr. No.
|
Items
|
Amount in Lakhs
|
1.
|
Subsidies
|
200
|
2.
|
Opening stock
|
100
|
3.
|
Closing stock
|
600
|
4.
|
Intermediate
consumption
|
3,000
|
5.
|
Consumption of
fixed capital
|
700
|
6.
|
Profit
|
750
|
7.
|
Net Value added at
factor cost
|
2,000
|
28. Distinguish between "real gross domestic product and
" Nominal" gross domestic product . Which is a better index of
welfare of the people and why? ( 4)
OR
Distinguish between stock and flows. Give two example of
each. (4)
29. Explain the credit
creation role commercial banks with the help of a numerical example . (4)
30. From the data
given below about an economy, calculate (a) Investment expenditure and (b)
consumption expenditure. (6)
(i) Equilibrium level of income. =
5000
(ii) Autonomous consumption
= 500
(iii) Marginal propensity to consume. = 0.4
31. Explain the meaning
of under - employment equilibrium. Explain two measures by which full -
employment equilibrium can be reached. (6).
32. Calculate " Gross Nation Product at Market Price"
from the following data: - (6)
Sr. No.
|
Items
|
Amount in Crores
|
1.
|
Consumption of
employment
|
2,000
|
2.
|
Interest
|
500
|
3.
|
Rent
|
700
|
4.
|
Profits
|
800
|
5.
|
Employer's
contribution to social security scheme
|
200
|
6.
|
Dividends
|
300
|
7.
|
Consumption of
fixed capital
|
100
|
8.
|
Net indirect taxes
|
250
|
9.
|
Net export
|
70
|
10.
|
Net factor income
from abroad
|
150
|
11.
|
Mixed income self
- employed.
|
1,500
|
OR
Calculate " Gross National Disposable Income" from
the following data:
Sr No.
|
Items
|
Rs. in Crores
|
1
|
Net domestic
product at factor cost
|
3,000
|
2
|
Indirect taxes
|
300
|
3.
|
Net current
transfers from rest of the world
|
250
|
4
|
Current transfer
from the government.
|
100
|
5
|
Net factor income
from abroad
|
150
|
6
|
Consumption of
fixed capital
|
200
|
7
|
Subsidies
|
100
|
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