Sunday, April 7, 2013

CLASS = XII , ECONOMICS QUESTION PAPER - 2013 (MARCH)


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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