Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2013-2014
Date: March 2014
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Unemployment is reduced due to the measures were taken by the government. State its economic value in the context of production possibilities frontier.
Chapter: [6] Employment: Growth, Informalisation and Other Issues
What is perfect oligopoly?
Chapter: [4] The Theory of the Firm Under Perfect Competition
What is the behaviour of average fixed cost as output is increased? Why is it so?
Chapter:
State the relation between marginal revenue and average revenue.
Chapter:
State the relation between total cost and marginal cost.
Chapter:
Answer the following question.
Why are the firms said to be interdependent in an oligopoly market? Explain.
Chapter:
Answer the following question.
Explain the central problem for whom to produce.
Chapter: [1] Introduction
A consumer buys 30 units of a good at a price of the Rs10per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs 9 per unit? Calculate.
Chapter:
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
Chapter: [3] Production and Costs
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A consumer consumes only two goods. Explain consumer's equilibrium with the help of utility analysis.
Chapter:
A consumer consumes only two goods A and B and is in equilibrium. Show that when price of good B falls, demand for B rises. Answer this question with the help of utility analysis
Chapter:
From the following information about a firm, find the firms 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 | 7 | 8 |
| 2 | 14 | 15 |
| 3 | 21 | 21 |
| 4 | 28 | 28 |
| 5 | 35 | 36 |
Chapter:
Market of a commodity is in equilibrium. Demand for the commodity "increases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.
Chapter:
Explain the conditions of consumer’s equilibrium using indifference curve analysis.
Chapter:
Explain the three properties of the indifference curves.
Chapter:
Is the following revenue expenditure or capital expenditure in the context of government budget? Give reason.
Expenditure on a collection of taxes.
Chapter: [5] Government Budget and the Economy
Is the following revenue expenditure or capital expenditure in the context of government budget? Give reason.
Expenditure on purchasing computers
Chapter: [5] Government Budget and the Economy
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How does giving incentives for the exports influence foreign exchange rate? Explain
Chapter:
Define externalities. Give an example of negative externality. What is its impact on welfare?
Chapter: [2] National Income Accounting
Explain the ‘store of value’ function of money. How has solved the related problem created by barter?
Chapter:
Explain the significance of 'medium of exchange' function of money
Chapter: [3] Money and Banking
Explain the meaning of balance of payments deficit.
Chapter:
Calculate investment expenditure from the following data about an economy which is in equilibrium:
National income = 1500
Autonomous consumption expenditure = 300
Investment expenditure = 300
Chapter:
Government raises its expenditure on producing public goods. Which economic value does it reflect? Explain.
Chapter: [5] Government Budget and the Economy
Answer the following question.
Explain the 'lender of last resort' function of central bank.
Chapter:
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Fees to a mechanic paid by a firm.
Chapter:
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Interest paid by an individual on a car loan taken from a bank.
Chapter:
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Expenditure on purchasing a car for use by a firm.
Chapter:
Explain national income equilibrium through aggregate demand and aggregate supply. Use diagram. Also explain the changes that take place in an economy when the economy is not in equilibrium
Chapter:
Given consumption curve, derive saving curve and state the steps taken in the process of derivation. Use Diagram.
Chapter:
Calculate national income and gross national disposable income from the following:
| (Rs Arab) | ||
| 1 | Net current transfers to abroad | 5 |
| 2 | Government final consumption expenditure | 100 |
| 3 | Net indirect tax | 80 |
| 4 | Private final consumption expenditure | 300 |
| 5 | Consumption of fixed capital | 20 |
| 6 | Gross domestic fixed capital formation | 50 |
| 7 | Net imports | (-)10 |
| 8 | Closing stock | 25 |
| 9 | Opening stock | 25 |
| 10 | Net factor income to abroad | 10 |
Chapter:
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CBSE previous year question papers Class 12 Economics with solutions 2013 - 2014
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