Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2014-2015
Date: March 2015
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If Marginal Rate of Substitution is increasing throughout, the Indifference Curve will be: (Choose the correct alternative)
a. Downward sloping convex
b. Downward sloping concave
c. Downward sloping straight line
d. Upward sloping convex
Chapter:
If due to fall in the price of good X, demand for good Y rises, the two goods are : (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Competitive
Chapter:
The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why?
Chapter:
Giving reason comment on the shape of Production Possibilities curve based on the following schedule:
| Good X (units) | Good Y (units) |
| 0 | 16 |
| 1 | 12 |
| 2 | 8 |
| 3 | 4 |
| 4 | 0 |
Chapter: [3] Production and Costs
What is likely to be the impact of "Make in India" appeal to the foreign investors by the Prime Minister of India, on the production possibilities frontier of India? Explain
Chapter: [3] Production and Costs
What is likely to be the impact of efforts towards reducing unemployment on the production potential of the economy? Explain
Chapter: [6] Employment: Growth, Informalisation and Other Issues
What is maximum price ceiling? Explain its implications.
Chapter: [4] The Theory of the Firm Under Perfect Competition
Explain the implications of the following in an oligopoly market:
Non-price competition
Chapter:
What is the behaviour of (a) Average Fixed Cost and (b) Average Variable Cost as more and more units of a good are produced?
Chapter: [3] Production and Costs
Define Average Revenue. Show that Average Revenue and Price are same.
Chapter:
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A consumer spends Rs 100 on a good priced at Rs 4 per unit. When its price falls by 25 percent, the consumer spends Rs 75 on the good. Calculate the price elasticity of demand by the Percentage method.
Chapter:
A market for a good is in equilibrium. There is simultaneous "increase" both in demand and supply of the good. Explain its effect on the market price
Chapter: [4] The Theory of the Firm Under Perfect Competition
Explain why will a producer not be in equilibrium if the conditions of equilibrium are not met.
Chapter:
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
Chapter: [3] Production and Costs
A consumer consumes only two goods X and Y, both priced at Rs 2 per unit. If the consumer chooses a combination of the two goods with Marginal Rate of Substitution equal to 2, is the consumer in equilibrium? Why or why not? What will a rational consumer do in this situation? Explain.
Chapter:
A consumer consumes only two goods X and Y whose prices are Rs 5 and Rs 4 respectively. If the consumer chooses a combination of the two goods with marginal utility of X equal to 4 and that of Y equal to 5, is the consumer in equilibrium? Why or why not? What will a rational consumer do in this situation? Use utility analysis
Chapter:
Primary deficit in a government budget is : (Choose the correct alternative)
a. Revenue expenditure - Revenue receipts
b. Total expenditure - Total receipts
c. Revenue deficit - Interest payments
d. Fiscal deficit - Interest payments
Chapter:
If MPC = 1, the value of the multiplier is ______
0
1
Between 0 and 1
Infinity
Chapter:
Other things remaining the same, when in a country the market price of the foreign currency falls, national income is likely (Choose the correct alternative)
a. to rise
b. to fall
c. to rise or to fall
d. to remain unaffected
Chapter:
A direct tax is called direct because it is collected directly from ______.
The producers on goods produced
The sellers on goods sold
The buyers of goods
The income earners
Chapter:
Where is 'borrowings from abroad' recorded in the Balance of Payments Accounts? Give reasons.
Chapter:
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If the Real GDP is Rs 500 and Price Index (base = 100) is 125, calculate the Nominal GDP.
Chapter:
Give meaning of managed floating exchange rate.
Chapter:
An economy is in equilibrium. Calculate the Marginal Propensity to Save from the following:
National Income = 1000
Autonomous Consumption = 100
Investment = 120
Chapter:
Explain bankers bank function of a Central bank.
Chapter:
Explain the ‘bank of issue’ function of a central bank.
Chapter:
Currency is issued by the central bank, yet we say that commercial banks create money. Explain. How is this money creation by commercial banks likely to affect the national income? Explain
Chapter:
Answer the following question.
Explain how the government can use the budgetary policy in reducing inequalities in incomes.
Chapter: [5] Government Budget and the Economy
Giving reason explain how the following should be treated in the estimation of national income:
Payment of interest by a firm to a bank
Chapter:
Giving reason explain how the following should be treated in the estimation of national income:
Payment of interest by a bank to an individual
Chapter:
Giving reason explain how the following should be treated in the estimation of national income:
Payment of interest by an individual to a bank
Chapter:
Explain the concept of ‘deficient demand’ in macroeconomics.
Chapter:
explain the role of Bank Rate in correcting deficient demand?
Chapter:
Explain the role of 'Reverse Repo Rate' in removing it.
Chapter:
Calculate 'Net National Product at Market Price' and 'Personal Income'.
| (Rs crore) | ||
| (i) | Transfer payments by government | 7 |
| (ii) | Government final consumption expenditure | 50 |
| (iii) | Net imports | -10 |
| (iv) | Net domestic fixed capital formation | 60 |
| (v) | Private final consumption expenditure | 300 |
| (vi) | Private income | 280 |
| (vii) | Net factor income to abroad | -5 |
| (viii) | Closing stock | 8 |
| (ix) | Opening stock | 8 |
| (x) | Depreciation | 12 |
| (xi) | Corporate tax | 60 |
| Xii | Retained earnings of corporatio | 20 |
Chapter:
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