Guess Paper – 2008
Class – XII
Subject – Economics
Time: 3 Hrs M.Marks: 100
- All questions are compulsory.
- ‘One’ mark questions are to be answered in about a sentence.
- Three marks questions are to be answered in approx. 60 words.
- Four marks questions are to be answered in approx. 80 words.
- Six marks questions are to be answered in approx.120 words.
- Word limits do not apply to numerical questions.
- There are three printed pages in this paper.
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SECTION – A
Q1 Answer the following:-
a) Name the market situation in which the AR and MR curve are more than unit elastic?
b) Give the profit maximization situation in case of producer equilibrium.
c) If two demand curve intersects which will have more elasticity.
d) Define consumer equilibrium
e) What is meant by the term ‘Market’ (1X5)
Q2 Explain with the help of a diagram the situations of inefficient and efficient utilization
of resources of an economy 3
Q3 How does the availability of close substitute of a good affect the price elasticity of
Demand of that good? Explain. 3
Q4 Explain the effect of technology changes on the supply of a product. 3
Q5 Explain the feature ‘Differentiated products’ of a market with monopolistic competition? 3
Q6 What changes will take place in MR when
a) TR increases at an increasing rate .
b) TR increases at a diminishing rate. 3
Q7 Calculate AVC at each level of output.
4 39 4
Q8 What is meant by returns to a factor ? What leads to increasing returns to a factor? 4
Q9 Explain the relationship between TR and MR with the help of a revenue schedule.? 4
Q10 Distinguish between perfect competition and monopoly .Why is the demand curve facing a firm under perfect competition perfectly elastic? 6
Q11 Explain the chain of effects on demand , supply, price of a commodity caused by a leftward shift of demand curve. Use diagram. 6
Q12 Explain the following :-
a) Law of diminishing Marginal utility
b) Exception to law of demand. (2,4)
Q13 Answer the following
a) Give the example of Macro variables
b) Define Transfer payment
c) What ids meant by Marginal efficiency off capital
d) Define revenue deficit in Govt. Budget
e) If the value of MPS is =0.1 calculate value of multiplier (1X5)
Q14 Differentiate between Intermidiate product and Final product 3
Q15 Will the following be included in domestic factor income of
a) Profits earned by a foreign bank from its branches in
b) Scholarships given by Govt. Of
c) Salaries received by Indians working in American embassy in
Q16 Calculate Gross Value Added at factor cost:-
a) Sales 800
b) Opening stock 40
c) Closing stock 30
d) Subsidies 50
e) Purchase of intermediate product 400
f) Purchase of machinery 200 3
Q17 Distinguish between APC and MPC. The value of which of these two can be greater
than one and when. 3
Q18 With the help of suitable diagram explain the concept of inflationary gap. 3
Q19 When will there be a situation of deficient demand in an economy? State any two
measures to correct it. 4
Q20 Distinguish between revenue receipts and capital receipts in a govt. budget.Give one
example each 4
Q21 Differentiate between a balance of trade and Balance of payment? Explain the
causes of disequilibrium in BOP . 4
Q22 From the following data calculate National income
a) Income method
b) Expenditure method
a) Compensation fo employees 1200
b) NFIA -20
c) NIT 120
d) Profit 800
e) Private final consumption exp. 2000
f) Net domestic capital formation 770
g) Consumption of fixed capital 130
h) Rent 400
i) Interest 620
j) Mixed income of self employed 700
k) Net exports -30
l) Govt final consumption exp. 1100 6
Q23 What are the functions of commercial bank? 6
Q24 Explain the equilibrium through AD and AS approach 6