Tuesday, May 27, 2014

CLASS XII - ECONOMICS MULTIPLE CHOICE QUESTIONS




CLASS XII - ECONOMICS

MULTIPLE CHOICE QUESTIONS

 1. Economics was originally developed as a science of __________
     (a) State craft. (b) business management (c) wealth of management. (d) resource management.

2. _________ of resources is necessary for development of economy.
  (a) Utilization     (b) Growth     (c) Wastage    (d) Non -utilization.
3. Which of the following is not example of micro economics studies?
        (a) Study of consumer equilibrium  (b) Study of price determination of a commodity 
       (c) study of an unemployment in an economy.  (d) All of above
4. Which of the following is not the component of micro economic study ........
        (a) Theory of consumer behavior  (b) Theory related to equilibrium level of output.
       (c) Theory of producer behavior (d) None of the above.
5. Which of the following is not micro economic variables ?
      (a) Consumer's demand   (b) Aggregate demand (c) Firm's output
      (d) Market price of a commodity.
6. Which of the following is not macro economic variables : -
     (a) Aggregate demand (b) General price level in the economy (c) Firm's output .
7. A PPC curve is concave to the point of origin because of ------
      (a) Increasing opportunity cost. (b) Law of demand.
       (c) Unit elastic (d) Law of supply.
8. If there in unemployment in the economy, we would be producing __________the PPC
 (a) below   (b) above (c) on   (d) None of the above.
9. If the PPC is concave, MPC is ............
 (a) Increasing (b) Equal (c) Decreasing (d) None of the above.

10. If MPC is constant, PPC would be ___
(a)Convex  (b) Concave (c) straight line (d) horizontal line.
11. PPC is sloping is  sloping __________because more production of one good is associated with less of the others.
(a) Upward downward (b) Straight (d) Uneven.
12. Factors which leads to shift of PPC __________
    (a) Increase in resources (b) Decrease in resources
     (c) Change in technology. (d) All of the above.
13. Rightward shift of PPC indicate _______
    (a) Improve in technology (b) Quantum of resources increase (c) Both A & b (d) None of the above.
14. A point below PPC indicate _________
       (a) Full employment and efficient use of resources. (b) Under utilization and insufficient  of resources  (c) Growth of resources (d) None of the above.
15. A point above PPC indicate -----
         (a) Full employment and efficient use of resources
         (b) Growth of resources (c) Under utilization of resources (d) None of the above.
16. Which of the following is not the assumption of PPC ___
    (a) Increasing MPC,
     (b) Decreasing MPC (c) Constant MPC
 (D) All of the above.
17.  Which of the following is not the assumption of PPC ?
 (a) Available resources are fully utilize (b) There is change in the technology (c)Available resources are fully and efficiently utilized  (d) There is no change in technology.   
18. A point on PPC indicate ----------
      (a) Full employment and efficient use of resources
      (b) Under utilization of resources (c) Growth of resources (d) None of the above.

                                                CONSUMER'S EQUILIBRIUM
19. Which statement is false -
    (a)  So long as MU positive , TU is increases.  (b) TU is zero when MU is zero.
    (c) TU starts decreasing when Mu is negative.
20. The extent to which a consumers expects a commodity to satisfy his wants for the same is known as ________ of that commodity for him.
20. Total utility is maximum when MU is _____
(a) Equilibrium   (b) Minimum   (c) Maximum (d) Equal.
21. locus of different combination of two goods which a consumers   can afford  by spending his whole income is known as : -
(a) Total utility (b) Budget (c) Budget line (d) Budget set. 
22.Total utility falls when marginal utility is : -
(a) positive (b) Negative (c) Equals (d) Zero.
INDIFFERENCE CURVE
23. Which is not the characteristics of monotonic indifference curve?
        (a) IC are negatively sloped. (b) IC intersect each other.
        (c) IC are convex to origin. (d) a higher IC offered higher level of satisfaction.
24. Shape of IC is convex due to _____________ MRT.
      (a) (a) Increasing (b) Equal (c) Diminishing (d) Maximum.
25. According to IC approach, a consumer attains equilibrium at a point where budget line is ___________to indifference curve.
(a) Tangent  (b) Straight (c) Diminishing  (d) Maximum

26. Shape of IC Curve is ________
   (a) Downward sloping and convex to the origin    (b) Upward sloping and convex to the origin.
     (c) Down wards sloping and concave to the origin    (d) Upward sloping and concave to origin
27. An IC Curve is downward sloping because if quantity of one commodity is __ the quantity of the other is to be _______in order to maintain the same satisfaction level.
(a) Reduce ,increase
(b) Increase , reduce.
(c) Increase , increase
(d) Reduce, Reduce.
29. Properties of independence are: -
(a) Negatively sloped (b) Convex to the point of origin (c) touches neither nor Y axis
(d) All of the above.


                              








































































































































































































Monday, May 26, 2014

ANNUAL PAPER CLASS XII ECONOMICS

                                                                          ECONOMICS
                                                                           अर्थशास्त्र
                                                                            CLASS XII 
समय : 3 घंटे                                                                                                          अधिकतम अंक 100

SYLLABUS CLASS XII ECONOMICS - 2014-15

Part A                                            PERIODS            MARKS.
1 Introduction                                          11                      6
2 Consumer's Equilibrium and Demand      34                    16
3 Producer Behaviour and Supply              34                   16
4 Forms of Market and Price Determination 
under perfectcompetition with simple 
applications                                                 31                12                  
                                                      
                                                                110                      50

Part B Introductory Macroeconomics

5 National Income and Related Aggregates       32                    15
6 Money and Banking 18 8
7 Determination of Income and Employment      27                 12
8 Government Budget and the Economy 1          7                    8
9 Balance of Payments                                     16                   7
                                                                     110                  50

Part A: Introductory Microeconomics

Unit 1: Introduction                                   11 Periods
Meaning of microeconomics and macroeconomics
What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of
production possibility frontier and opportunity cost.

Unit 2: Consumer's Equilibrium and Demand 34 Periods
Consumer's equilibrium - meaning of utility, marginal utility, law of diminishing marginal utility, conditions
of consumer's equilibrium using marginal utility analysis.
Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line),
preferences of the consumer (indifference curve, indifference map) and conditions of consumer's equilibrium.
Demand, market demand, determinants of demand, demand schedule, demand curve, movement along and
shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand;
measurement of price elasticity of demand - (a) percentage-change method and (b) geometric method (linear
demand curve); relationship between price elasticity of demand and total expenditure.
Unit 3: Producer Behaviour and Supply            34 Periods
Production function: Total Product, Average Product and Marginal Product.
Returns to a Factor.
238
Cost and Revenue: Short run costs - total cost, total fixed cost, total variable cost; Average fixed cost, average
variable cost and marginal cost-meaning and their relationship.
Revenue - total, average and marginal revenue.
Producer's equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost.
Supply, market supply, determinants of supply, supply schedule, supply curve, movements along and shifts in
supply curve, price elasticity of supply; measurement of price elasticity of supply - (a) percentage-change
method and (b) geometric method.

Unit 4: Forms of Market and Price Determination under Perfect Competition with simple applications.     31 Periods

Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and
supply.
Other Market Forms - monopoly, monopolistic competition, oligopoly - their meaning and features.
Simple Applications of Demand and Supply: Price ceiling, price floor.

Part B: Introductory Macroeconomics
Unit 5: National Income and Related Aggregates     32 Periods
Some basic concepts: consumption goods, capital goods, final goods, intermediate goods; stocks and flows;
gross investment and depreciation.
Circular flow of income; Methods of calculating National Income - Value Added or Product method,
Expenditure method, Income method.
Aggregates related to National Income:
Gross National Product (GNP), Net National Product (NNP), Gross and Net Domestic Product (GDP and
NDP) - at market price, at factor cost; National Disposable Income (gross and net), Private Income, Personal
Income and Personal Disposable Income; Real and Nominal GDP.
GDP and Welfare
Unit 6: Money and Banking                            18 Periods
Money - its meaning and functions.
Supply of money - Currency held by the public and net demand deposits held by commercial banks.
Money creation by the commercial banking system.
Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker's
Bank, Controller of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market
Operations, Margin requirement.
Unit 7: Determination of Income and Employment  27 Periods
Aggregate demand and its components.
Propensity to consume and propensity to save (average and marginal).
Short-run equilibrium output; investment multiplier and its mechanism.
Meaning of full employment and involuntary unemployment.
239
Problems of excess demand and deficient demand; measures to correct them - change in government
spending, availability of credit.
Unit 8: Government Budget and the Economy           17 Periods                                                    
Government budget - meaning, objectives and components.
Classification of receipts - revenue receipts and capital receipts; classification of expenditure - revenue
expenditure and capital expenditure.
Measures of government deficit - revenue deficit, fiscal deficit, primary deficit their meaning.
Unit 9: Balance of Payments                                16 Periods
Balance of payments account - meaning and components; balance of payments deficit-meaning.
Foreign exchange rate - meaning of fixed and flexible rates and managed floating.
Determination of exchange rate in a free market.

Prescribed Books:
1. Statistics for Economics, Class XI, NCERT
2. Indian Economic Development, Class XI, NCERT
3. Introductory Micro Economics, Class XII, NCERT
4. Macro Economics, Class XII, NCERT
5. Supplementary Reading Material in Economics, Class XII, CBSE














NEW NORM FOR PAPER SETTING -2014 -15.


Suggested Question Paper Design
Economics (Code No. 030)
Class XII (2014-15)
March 2015 Examination
Marks: 100                                                                                                                      Duration: 3 hrs.

S.
No.

Typology of Questions

Very
Short Answer
MCQ
1 Mark
Short


Answer II
3 Marks

Short
Answer I
4 Marks

Long
Answer
6 Marks

Marks

%

1
Remembering- (Knowledge based
Simple recall questions, to know specific
facts, terms, concepts, principles, or
theories; identify, define, or recite,
information)

2
1
2
2
25
25
2
Understanding- (Comprehension –to be
familiar with meaning and to understand
conceptually, interpret, compare,
contrast, explain, paraphrase, or interpret
information)

3
2
1
2
25
25
3
Application (Use abstract information in
concrete situation, to apply knowledge to
new situations; Use given content to
interpret a situation, provide an example,
or solve a problem)

-

















2
2
1
20
20
4
High Order Thinking Skills
(Analysis & Synthesis- Classify,
compare, contrast, or differentiate
between different pieces of information,
Organize and/or integrate unique pieces
of information from a variety of sources)

2
2
-
2
20
20
5
. Evaluation and Multi-Disciplinary-
(Appraise, judge, and/or justify the value
or worth of a decision or outcome, or to
predict outcomes based on values)

1
1
-
1
10
10

TOTAL
8X1= 8
8X3=24
5X4=20
8X6= 48
100(29)
100