Advertisement Remove all ads

Economics All India Set 2 2015-2016 CBSE (Commerce) Class 12 Question Paper Solution

Advertisement Remove all ads
Economics [All India Set 2]
Marks: 100 Academic Year: 2015-2016
Date & Time: 31st March 2016, 11:00 am
Duration: 3h
Advertisement Remove all ads

[1] 1

Demand curve of a firm is perfectly elastic under: (Choose the correct alternative)

(a) Perfect competition

(b) Monopoly

(c) Monopolistic competition

(d) Oligopoly

Concept: Main Market Forms
Chapter: [0.04] Forms of Market and Price Determination
[1] 2

Differentiated products is a characteristic of: (Choose the correct alternative):

(a) Monopolistic competition only

(b) Oligopoly only

(c) Both monopolistic competition and oligopoly

(d) Monopoly

Concept: Main Market Forms
Chapter: [0.04] Forms of Market and Price Determination
[1] 3

A firm is able to sell any quantity of a good at a given price. The firm's marginal revenue will be : (Choose the correct alternative):

(a) Greater than Average Revenue

(b) Less than Average Revenue

(c) Equal to Average Revenue

(d) Zero

Concept: Total, Average and Marginal Revenue
Chapter: [0.03] Producer Behaviour and Supply
[1] 4

When does "change in quantity demanded" take place?

Concept: Change in Quantity Demand
Chapter: [0.02] Consumer Equilibrium and Demand
[1] 5

What happens to the difference between Average Total Cost and Average Variable Cost as production is increased?

Concept: Relationship Between Average Variable Cost and Average Total Cost and Marginal Cost
Chapter: [0.03] Producer Behaviour and Supply
[3] 6 | Attempt one of the following
[3] 6.1

What is minimum price ceiling? Explain its implications.

Concept: Price Ceiling
Chapter: [0.04] Forms of Market and Price Determination
[3] 6.2

If the prevailing market price is above the equilibrium price, explain its chain of effects.

Concept: Equilibrium Price
Chapter: [0.04] Forms of Market and Price Determination
[3] 7

A consumer consumes only two goods X and Y. Marginal utilities of X and Y are 4 and 3 respectively. Price of X and price of Y is Rs 3 per unit. Is consumer in equilibrium? What will be further reaction of the consumer? Give reasons.

Concept: Conditions of Consumer's Equilibrium Using Marginal Utility Analysis
Chapter: [0.02] Consumer Equilibrium and Demand
[3] 8

What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.

Concept: Elasticity of Demand
Chapter: [0.02] Consumer Equilibrium and Demand
[4] 9

When price of a good rises from Rs 10 to Rs 12 per unit the producer supplies 10 percent more. Calculate price elasticity of supply.

Concept: Concept of Supply
Chapter: [0.03] Producer Behaviour and Supply
[4] 10

Define utility.

Concept: Meaning of Utility
Chapter: [0.02] Consumer Equilibrium and Demand

Explain the law of diminishing marginal utility.

Concept: Diminishing Marginal Utility
Chapter: [0.02] Consumer Equilibrium and Demand
[4] 11 | Attempt of the following
[4] 11.1

Define fixed cost. Give an example.

Concept: Cost - Fixed Cost
Chapter: [0.03] Producer Behaviour and Supply

What is the behaviour of average fixed cost as output is increased? Why is it so?

Concept: Cost - Average Fixed Cost
Chapter: [0.03] Producer Behaviour and Supply
Advertisement Remove all ads
[4] 11.2

Define marginal product.

Concept: Marginal Product
Chapter: [0.03] Producer Behaviour and Supply

State the behaviour of marginal product when only one input is increased and other inputs are hold constant.

Concept: Marginal Product
Chapter: [0.03] Producer Behaviour and Supply
[6] 12 | Attempt one of the following
[6] 12.1

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

Large number of sellers

Concept: Main Market Forms
Chapter: [0.04] Forms of Market and Price Determination

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

Homogeneous products.

Concept: Main Market Forms
Chapter: [0.04] Forms of Market and Price Determination
[6] 12.2

Explain the implications of the following in an oligopoly market: Barriers to entry of new firms

Concept: Main Market Forms
Chapter: [0.04] Forms of Market and Price Determination

Explain the implications of the following in an oligopoly market: A few or a few big sellers

Concept: Main Market Forms
Chapter: [0.04] Forms of Market and Price Determination
[6] 13

Examine the effect of (a) fall in the own price of good X and (b) rise in tax rate on good X, on the supply curve. Use diagrams.

Concept: Supply Curve and Schedule
Chapter: [0.03] Producer Behaviour and Supply
[6] 14

Explain the three properties of the indifference curves.

Concept: Indifference Curve
Chapter: [0.02] Consumer Equilibrium and Demand
[6] 15

Why do central problems of an economy arise?

Concept: Central Problems of an Economy
Chapter: [0.01] Introduction

Answer the following question.
Explain the central problem for whom to produce.

Concept: Central Problems of an Economy
Chapter: [0.01] Introduction
[1] 16

Foreign exchange transactions which are independent of other transactions in the Balance of Payments Account are called ______.

Current transactions

Capital transactions

Autonomous transactions

Accommodating transactions

Concept: Concept of Balance of Payments Account
Chapter: [0.06] Balance of Payments
[1] 17

Primary deficit equals : (Choose the correct alternative)

(a) Borrowings

(b) Interest payments

(c) Borrowings less interest payments

(d) Borrowings and interest payments both

Concept: Deficit Budget - Primary Deficit
Chapter: [0.05] Government Budget and the Economy
[1] 18

National income is the sum of factor incomes accruing to : (Choose the correct alternative)

(a) Nationals

(b) Economic territory

(c) Residents

(d) Both residents and non-residents

Concept: Concept of National Income
Chapter: [0.02] National Income and Related Aggregates
[1] 19

Define fiscal deficit

Concept: Measures of Government Deficit Or Surpluses
Chapter: [0.05] Government Budget and the Economy
[1] 20

Define flows.

Concept: Basic Concepts - Stocks and Flows
Chapter: [0.02] National Income and Related Aggregates
[3] 21

An economy is in equilibrium. Find investment expenditure :

National income =1200

Autonomous consumption expenditure=150

Marginal Propensity to consume =0.8

Concept: Methods of Calculating National Income - Expenditure Method
Chapter: [0.02] National Income and Related Aggregates
[3] 22

If nominal income is Rs 500 and price index is 125, calculate real income.

Concept: Real and Nominal GDP
Chapter: [0.02] National Income and Related Aggregates
Advertisement Remove all ads
[3] 23 | Attempt one of the following
[3] 23.1

What is aggregate demand?

Concept: Concept of Aggregate Demand and Aggregate Supply
Chapter: [0.04] Determination of Income and Employment

State components of Aggregate demand ?

Concept: Concept of Aggregate Demand and Aggregate Supply
Chapter: [0.04] Determination of Income and Employment
[3] 23.2

Explain how controlling money supply is helpful in reducing excess demand.

Concept: Cash Reserve Ratio (CRR)
Chapter: [0.03] Money and Banking
[4] 24

Explain the role of Cash Reserve Ratio in controlling credit creation.

Concept: Cash Reserve Ratio (CRR)
Chapter: [0.03] Money and Banking
[4] 25

Sale of petrol and diesel cars is rising particularly in big cities. Analyse its impact on gross domestic product and welfare.

Concept: GDP and Welfare
Chapter: [0.02] National Income and Related Aggregates
[4] 26 | Attemptone of the following
[4] 26.1

Explain the 'medium of exchange' function of money. How has it solved the related problem created by barter?

Concept: Function of Money - Primary Function
Chapter: [0.03] Money and Banking
[4] 26.2

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: [0.03] Money and Banking
[6] 27

Calculate Net National Product at Market Price and Private Income:

    (Rs in crore)
i Net Current transaction to abroad 10
ii Private final consumption expenditure 500
iii Current transfer to government 30
iv Net factor income to abroad 20
v Net exports (-20)
vi Net indirect tax 120
vii National debt interest 70
viii Net domestic capital formation 80
ix Income accruing to government 60
x Government final consumption expenditure 100
Concept: Aggregates Related to National Income - Net National Product (NNP)
Chapter: [0.02] National Income and Related Aggregates
[6] 28

Indian investors lend abroad. Answer the following questions :

(a) In which sub-account and on which side of the Balance of Payments Account such lending is recorded? Give reasons.

(b) Explain the impact of the lending on market exchange rate.

Concept: Concept of Balance of Payments Account
Chapter: [0.06] Balance of Payments
[6] 29

Given saving curve, derive consumption curve and state the steps in doing so. Use diagram.

Concept: Supply Curve and Schedule
Chapter: [0.03] Producer Behaviour and Supply
[6] 30 | Attempt one of the following
[6] 30.1

What is the difference between revenue expenditure and capital expenditure? Explain how taxes and government expenditure can be used to influence.

Concept: Classification of Expenditure
Chapter: [0.05] Government Budget and the Economy
[6] 30.2

What is the difference between direct tax and indirect tax?

Concept: Direct and Indirect Tax
Chapter: [0.05] Government Budget and the Economy

Answer the following question.
Explain the role of government budget in influencing the allocation of resources.

Concept: Government Budget - Allocation of Resources
Chapter: [0.05] Government Budget and the Economy

Other Solutions




























Advertisement Remove all ads

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 2015 - 2016

     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 2016 serve as a catalyst to prepare for your Economics board examination.
     Previous year Question paper for CBSE Class 12 Economics-2016 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.
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×