CBSE (Science) Class 12CBSE
Share
Notifications

View all notifications

Economics Foreign Set 2 2013-2014 CBSE (Science) Class 12 Question Paper Solution

Login
Create free account


      Forgot password?
Economics
Foreign Set 2
2013-2014 March
Marks: 100

[1]1

What is meant by collusive oligopoly?

Concept: Main Market Forms
Chapter: [0.024] Forms of Market and Price Determination
[1]2

Define production function.

Concept: Meaning of Production Function
Chapter: [0.023] Producer Behaviour and Supply
[1]3

What is supply?

Concept: Concept of Supply
Chapter: [0.023] Producer Behaviour and Supply
[1]4

A large number of technical training institutions have been started by the government. State its economic value in the context of production possibilities frontier.

Concept: Concepts of Production Possibility Frontier
Chapter: [0.021] Introduction
[1]5

When is demand called perfectly inelastic?

Concept: Demand
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand
[3]6 | Attempt Any One
[3]6.1

How does change in per unit tax influence the supply of a good by a firm? Explain.

Concept: Supply Curve and Schedule
Chapter: [0.023] Producer Behaviour and Supply
[3]6.2

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

Concept: Supply Curve and Schedule
Chapter: [0.023] Producer Behaviour and Supply
[3]7

Why is a production possibilities curve downward sloping? Explain

Concept: Concept of Production
Chapter: [0.023] Producer Behaviour and Supply
[3]8

Price elasticity of demand of a good is (-) 1. Calculate the percentage change in price that will raise the demand from 20 units to 30 units.

Concept: Elasticity of Demand
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand
[3]9

Explain the implications of the following in a perfectly competitive market:

Large number of buyers

Concept: Main Market Forms
Chapter: [0.024] Forms of Market and Price Determination
[3]10

Under what market condition does Average Revenue always equal Marginal Revenue? Explain.

Concept: Features of Perfect Competition
Chapter: [0.024] Forms of Market and Price Determination
[4]11 | Attempt Any One
[4]11.1

State the different phases of change in the total product according to the Law of Variable Proportions. Use diagram

Concept: Law of Variable Proportions
Chapter: [0.023] Producer Behaviour and Supply
[4]11.2

State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour

Concept: Law of Variable Proportions
Chapter: [0.023] Producer Behaviour and Supply
[4]12 | Attempt Any One
[4]12.1

A consumer consumes only two goods. Explain consumer's equilibrium with the help of utility analysis.

Concept: Conditions of Consumer's Equilibrium Using Marginal Utility Analysis
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand
[4]12.2

A consumer consumes only two goods X and Y and is in equilibrium. Show that when the price of good X falls, demand for good X rises. Use Utility Analysis.

Concept: Cardinal Approach (Utility Analysis)
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand
[4]13

Distinguish between demand by an individual consumer and market demand of a good

Concept: Market Demand
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand

State the factors leading to fall in demand by an individual consumer

Concept: Demand
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand
[6]14

What is meant by 'excess supply' of a good in a market?

Concept: Market Equilibrium
Chapter: [0.024] Forms of Market and Price Determination

Explain its chain of effects on the market of that good. Use diagram

Concept: Market Equilibrium
Chapter: [0.024] Forms of Market and Price Determination
[6]15 | Attempt Any One
[6]15.1

Explain the conditions of consumer’s equilibrium using indifference curve analysis.

Concept: Indifference Curve
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand
[6]15.2

Explain the three properties of the indifference curves.

Concept: Indifference Curve
Chapter: [0.022000000000000002] Consumer Equilibrium and Demand
[6]16

From the following information about a firm, find the firm's equilibrium output in terms of marginal cost and marginal revenue. Give reasons. Also, find profit at this output.

Output (units) Total Revenue
(Rs)
Total Cost (Rs)
1 8 10
2 16 18
3 24 23
4 32 31
5 40 41
Concept: Cost - Marginal Cost
Chapter: [0.023] Producer Behaviour and Supply
[1]17

Define aggregate supply?

Concept: Concept of Aggregate Demand and Aggregate Supply
Chapter: [0.011000000000000001] Determination of Income and Employment
[1]18

What is 'devaluation'?

Concept: Concept of Foreign Exchange Rate
Chapter: [0.015] Balance of Payments
[1]19

What is a central bank? 

Concept: Definition - Central Bank
Chapter: [0.013999999999999999] Money and Banking
[1]20

What is 'excess demand' in macroeconomics?

Concept: Meaning of Micro and Macro Economics
Chapter: [0.021] Introduction
[1]21

What is primary deficit?

Concept: Deficit Budget - Primary Deficit
Chapter: [0.016] Government Budget and the Economy
[3]22 | Attempt Any One
[3]22.1

Explain the 'standard of deferred payment' function of money. How has it solved the related problem created by barter?

Concept: Standard of Deferred Payment
Chapter: [0.013999999999999999] Money and Banking
[3]22.2

Explain the ‘store of value’ function of money. How has solved the related problem created by barter?

Concept: Money - Store of Value
Chapter: [0.013999999999999999] Money and Banking
[3]23

How is balance of payment 'deficit' measured? Explain.

Concept: Concept of Balance of Payments Account
Chapter: [0.015] Balance of Payments
[3]24

What is 'appreciation' of domestic currency? What is its likely effect on exports and how?

Concept: Concept of Foreign Exchange Rate
Chapter: [0.015] Balance of Payments
[3]25

What are non-monetary exchanges? Give an example. Explain their impact on the use of a gross domestic product as an index of the welfare of the people.

Concept: Systems of Exchange Rates
Chapter: [0.015] Balance of Payments
[3]26

Giving reason, state whether the following is a revenue expenditure or a capital expenditure in a government budget:

Expenditure on scholarships

Concept: Classification of Expenditure
Chapter: [0.016] Government Budget and the Economy

Giving reason, state whether the following is a revenue expenditure or a capital expenditure in a government budget:

Expenditure of building a bridge.

Concept: Classification of Expenditure
Chapter: [0.016] Government Budget and the Economy
[4]27

The government has started spending more on providing free services like education and health to the poor. Explain the economic value it reflects.

Concept: Classification of Expenditure
Chapter: [0.016] Government Budget and the Economy
[4]28 | Attempt Any One
[4]28.1

State the meaning and components of the money supply.

Concept: Meaning of Supply of Money
Chapter: [0.013999999999999999] Money and Banking
[4]28.2

Explain the 'currency authority' function of a central bank.

Concept: Central Bank Function - Controller of Credit
Chapter: [0.013999999999999999] Money and Banking
[4]29

Calculate 'Marginal Propensity to Consume' from the following data about an economy which is in equilibrium:
National income = 800
Autonomous consumption expenditure = 100
Investment expenditure = 100

Concept: Concept of National Income
Chapter: [0.012] National Income and Related Aggregates
[6]30 | Attempt Any One
[6]30.1

Explain national income determination through the two alternative approaches. Use Diagram.

Concept: Concept of National Income
Chapter: [0.012] National Income and Related Aggregates
[6]30.2

Given consumption curve, derive saving curve and state the steps taken in the process of derivation. Use Diagram.

Concept: Concept of Aggregate Demand and Aggregate Supply
Chapter: [0.011000000000000001] Determination of Income and Employment
[6]31

Calculate 'National Income' and 'Gross National Disposable Income' from the following:

    (Rs in Arab)
1 Net imports 60
2 Net current transfers to abroad (-)10
3 Net domestic fixed capital formation 300
4 Government final consumption expenditure 200
5 Private final consumption expenditure 700
6 Consumption of fixed capital 70
7 Net change in stocks 30
8 Net factor income to abroad 20
9 Net indirect tax 100
Concept: Aggregates Related to National Income - Gross National Product (GNP)
Chapter: [0.012] National Income and Related Aggregates
[6]32

How should the following be treated while estimating national income? You must give the reason in support of your answer.

Bonus paid to employees

Concept: Concept of National Income
Chapter: [0.012] National Income and Related Aggregates

How should the following be treated while estimating national income? You must give the reason in support of your answer.

Addition to stocks during a year

Concept: Concept of National Income
Chapter: [0.012] National Income and Related Aggregates

How should the following be treated while estimating national income? You must give the reason in support of your answer.

Purchase of taxi by a taxi driver.

Concept: Concept of National Income
Chapter: [0.012] National Income and Related Aggregates

Request Question Paper

If you dont find a question paper, kindly write to us





      View All Requests

Submit Question Paper

Help us maintain new question papers on Shaalaa.com, so we can continue to help students




only jpg, png and pdf files

CBSE previous year question papers Class 12 Economics with solutions 2013 - 2014

     CBSE Class 12 Economics question paper solution is key to score more marks in final exams. Students who have used our past year paper solution have significantly improved in speed and boosted their confidence to solve any question in the examination. Our CBSE Class 12 Economics question paper 2014 serve as a catalyst to prepare for your Economics board examination.
     Previous year Question paper for CBSE Class 12 Economics-2014 is solved by experts. Solved question papers gives you the chance to check yourself after your mock test.
     By referring the question paper Solutions for Economics, you can scale your preparation level and work on your weak areas. It will also help the candidates in developing the time-management skills. Practice makes perfect, and there is no better way to practice than to attempt previous year question paper solutions of CBSE Class 12.

How CBSE Class 12 Question Paper solutions Help Students ?
• Question paper solutions for Economics will helps students to prepare for exam.
• Question paper with answer will boost students confidence in exam time and also give you an idea About the important questions and topics to be prepared for the board exam.
• For finding solution of question papers no need to refer so multiple sources like textbook or guides.
S
View in app×