CLASS XII - HOLIDAY HOMEWORK ( AUTOMUN BREAK)

HOLIDAY HOME WORK ( AUTOMUN BREAK) -2017

1.   INTRODUCTION

1. What is micro economics? How it is differ from macro economics?

2.  Distinguish between positive economics and normative economics.

3. What is meant by economy? Explain briefly the  problem of resource allocation.

4. Explain the meaning of opportunity cost with the help of PP schedule.

5.  Explain problems of 'What to produce' with the help of PPC .

6. Why PPC is concave? Explain.

7.  Giving reasons comment on the shape of PP curve based on the following schedule:

Good - X (Unit)	0	1	2	3	4
Good - Y ( Unit)	10	9	7	4	0

UNIT 2. CONSUMER' EQUILIBIRUM & DEMAND

1.  Distinguish between Cardinal and Ordinal analysis of consumer equilibrium

2. What are the properties of Indifference curve ? Explain.

3. Explain the Law of diminishing marginal utility.

4. Explain the consumer equilibrium with single commodity and two commodities.

5. Explain the factor affecting market demand.

6. Distinguish between change in quantity demanded and change in  demand.

7. Explain the geometric method of measuring price elasticity of demand.

               UNIT 3: -  PRODUCER BEHAVIOUR AND SUPPLY

1.  Giving reasons, state whether the following statement are true or false:

(i) Average product will increase only when MP increases.

(ii) Under diminishing return to a factor , total product continues to increases till MP reaches zero.

2.  Distinguish between short period and long period production function.

3.  Explain the condition of producer's equilibrium with the help of a numerical example.

4. Explain the Law of variable proportion. Use diagram.

5. Explain the distinction between ' Change in quantity supplied' and 'shift in supply work.'

6.  How does subsidy influence the supply of a good by firm, Explain.

7. Why is equality between marginal cost and marginal revenue necessary for a firm to be in equilibrium? Is sufficient to ensure equilibrium? Explain.

                        UNIT - 3 B   COST AND REVENUE

1.  Explain relationship between: -

     (i) AC and MC a

    (ii) TC and  MC

2.  Explain the following cost and also give example : -

 (i)  Implicit cost and explicit cost.

(ii)  Total cost and Opportunity cost.

3.  Explain the relationship between total revenue and marginal revenue.

4.  Under what market condition does average revenue always equal marginal revenue? Explain.

5. Explain the relationship between marginal cost and average .

UNIT 4   FORM OF MARKET AND PRICE DETERMINATION UNDER PERFECT CMPETITION

1.  Explain the any three features of the following: -

(i)  Perfect competitions

(ii) Monopoly

(iii) Monopolistic Competition.

2.  How the price is determined under perfect competition? If there is Excess demand in the economy  than how equilibrium will be reached explain.

3.  Distinguish between Price Ceiling and Price floor.

4. 'Erratic rainfall leads the hike the price of the onion.  Use a diagram and economic theory to analyze the statement.

5. Distinguish between Collusive and Non - Collusive Oligopoly.

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