CBSE Guess Paper Economics Class 12th (2011) Set-1

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CBSE Guess Paper - 2011

Class- XII

Subject – Economics

1. What is meant by the term ‘Market’?                                                                                            1

2. If two demand curve intersects which will have more elasticity.                                                  1

3. Distinguish between movement along the supply curve and shift in supply curve.                       3

4. Distinguish between Centrally planned economy and Market economy.                                       3

5. Given below is the utility schedule of a consumer for commodity X. The price of the commodity is Rs. 3 per unit. How many units should the consumer purchase to maximize satisfaction? (Assume that utility is expressed in utils and 1 util= Re.1) Give reasons for your answer.                             3

Consumption ( units)

1

2

3

4

5

Total Utility ( utils)

8

15

20

23

25

6. Calculate total variable cost and total cost from the following cost schedule of a Firm whose fixed costs are Rs. 10.                           4

Output ( units)

1

2

3

4

MC (Rs.)

6

5

4

6

7. Explain the relation between average revenue and marginal revenue of a firm in a perfect market, monopoly market and monopolistic competition market.      4

8. Explain the relation between Marginal cost and Average cost with the help of a diagram.                         6

9. From the following data calculate National income.                                6

        a) Income method

        b) Expenditure method

Compensation fo employees

1200/-

NFIA

-20/-

NIT

120/-

Profit

800/-

Private final consumption exp.

2000/-

Net domestic capital formation

770/-

Consumption of fixed capital

130/-

Rent

400/-

Interest

620/-

Mixed income of self employed

700/-

Net exports

-30/-

Govt final consumption exp.

1100/-

 

10. How is the equilibrium price of a good determined? Explain with the help of a diagram a situation when both demand and supply curves shift to the right but equilibrium price remains the same.                                 6