1st Pre - Board Question paper -2013 -14

KENDRIYA VIDYALAYA SANGATHAN, SIRSA REGION

FIRST PRE – BOARD EXAM.2013 – 14

CLASS - XII ECONOMICS.

Q1. What is meant by’ economizing of resources’?

Q2. What happened to the MU when total utility is maximum ?

Q3. Whay is demand for water is inelastic?

Q.4. Define fixed cost.

Q5. In which market form average revenue and Marginal revenue of a firm are always equal.

Q.6. What does a production possibility curve show? When will it shift to the right?

Q.7. Demand for electricity has increase, however supply cannot be increased due to lack of resources. Explain how in two ways demand for electricity can be decreased.

Q.8. Define budget line. How the budget line change if the consumers income decreases to

         Rs. 20 from Rs.40 but the prices remains unchanged.

Q.9.  Explain the relationship between SVC and MC with the help of curve.

Q10.Distinguish between monopoly and monopolistic forms of market.

Ans.

                                                         OR

Complete the following table: -

OUTPUT	PRICE TAKER	T R	MR
1 2 3 4	10 - - -	- 14 - 12	- - 1 -

Q11. How the nature of the commodity and No. of affect the elasticity of demand explain

          with example.

                                                                                  OR

   A consumer buys 80 units of a good. At a price of Rs. 5 per unit. Suppose, the price elasticity of demand is (-) 2. At what price will be buy 64 units.

Q.12. Explain the effect of the following on the supply of a commodity.

 (a) Fall in the price of factor input.

(b)  Increase in taxes.

Q13. The TR & TC value a of a firm are given in the following schedule. Calculate MR and MC and determined the level of output. Give reason for your answer.

Ans.

Q.14. What is meant by return to a factor? State the law of increasing returns to a factor. Give 

         to a factor?

Q.15. What are the condition of consumer’s equilibrium under the indifference curve

        Analysis ? Explain the help of a diagram.

          

Q.16. Explain the effect of equilibrium price and equilibrium quantity in the following cases (Use diagram)

(a) Demand curve shift to the left.

(b) Supply increases when demand is perfectly inelastic.

( c) Increase in supply more than increase in supply.

                                                        PART – B

Q.17.  What is full bodied money?

Ans.

Q.18. If Planned saving are greater than planned investment, what will effect on inventories?

Ans.

Q.19. If the value of MPC is 0.8. Calculate the value of multiplier.

Q.20. Define CRR.

Q21. What is the likely effect currency depreciation and devolution on Foreign trade?

Q.22. How you will treat  the following while calculating National Income. Give reason: -

      (i)  Production for self consumption.

(ii) Expenditure of construction of a house.

(iii) Salary received by an Indian resident working in US embassy in New Delhi.

Q.23. From the following data calculate Net Value Added at Factor cost.

Sr. No.	Particulars	Rs.
1 2 3 4 5 6 7	Purchase of intermediate goods. Sales Import of raw materials Depreciation Net indirect taxes Change in stock Export	500 750 50 60 100 -30 20

24. Distinguish between Final goods & Intermediate goods with examples.

                                           OR

   Distinguish between Factor income and Transfer income.

25. Explain two sources of each of demand and supply of foreign exchange.

26.State the component of current account of balance of payments.

27. Explain the meaning and implication of revenue deficit.

                               OR

        Complete the following table: -

Income	Saving (Rs.)	MPC	APC
0	-20
50	-10
100	0
150	30
200	60

28. Categories the following Government receipt into Revenue & Capital receipts. Give reasons for your answer.

(a) receipts from sale of share of  a public sector under taking.

(b) Income tax received by govt.

© Grants from foreign government.

(d) Recovery of loans.

29. Define government budget . State any three objectives of government budget.

30. Explain the process of money creation by commercial banks giving a numerical example

                                       OR

    In an economy the consumption function C = 500 + 0.8Y, where C is consumption expenditure and Y is income , I = 800

(i)                 Equilibrium level of income.

(ii)               Consumption expenditure at equilibrium level.

Q31. Explain the problem of excess demand in an economy with the help of diagram. Explain the role of bank rate in correcting it.

Q.32. From the following data calculate GNP at MP by Income method and expenditures method: Income method and expenditure method: -

Sr. No.	Particulars	Rs.
1 2 3 4 5 6 7 8 9 10 11 12	Compensation of employees Profits Mixed Income of self employed Rent Interest Private final consumption expenditure Net domestic capital formation Consumption of fixed capital Net Export Govt. final consumption expenditure Net indirect taxes Net factor income from abroad.	400 250 300 80 70 700 120 100 (-) 10 350 60 (-) 10

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