AHSEC| CLASS 12| ECONOMICS| QUESTION PAPER - 2019| H.S. 2ND YEAR
2019
ECONOMICS
Full Marks: 100
Pass
Marks: 30
Time:
Three hours
The
figures in the margin indicate full marks for the questions
PART
– A
1. (a) Define the term scarcity as used in economics. 1
(b) What is opportunity cost? 1
(c) If marginal utility of a commodity is
higher than the price, then the consumer will buy more of the commodity. (Write
true or false) 1
(d) What will be the effect of price change
on supply of a commodity with perfectly inelastic supply? 1
(e) How will an increase in the price of
inputs shift the supply curve? 1
(f) What is shut-down price? 1
2. Why the production possibility curve slopes downward from left to
right? 2
3. Give two reasons of a leftward shift in the demand curve. 2
4. The price elasticity of demand of a commodity is 4 and the
percentage change in price is 8. Find the percentage change in the quantity
demanded. 2
5. What is fixed factor? Give one example. 1+1=2
6. What is meant by inelastic supply? Draw a inelastic supply curve.
1+1=2
7. Mention two differences between monopoly and perfectly
competitive market. 2
8. Distinguish between change in quantity demanded and change in
demand. 4
9. Mention the relationship between total utility and marginal
utility. 4
10. What is variable cost? Why the average variable cost (AVC) curve
becomes U shaped? 1+3=4
11. The production function of a firm is
Q=2L1/2 K2. Find the amount required of factor K is the
firm wants to produce 200 units with available 16 units of factor L.
(Q=Output, K=Capital, L=Labour)
12. Mention the effects of the following on the supply of a
commodity. 2+2=4
1)
Fall in the price of factors.
2)
Rise in the per unit tax.
13. Explain the Law of Variable Proportion with diagram. 6
Or
The total fixed cost of a firm is Rs.
200. Fill in the blanks of the following table.
|
Output |
TC |
AC |
AVC |
MC |
|
1 |
- |
- |
100 |
- |
|
2 |
460 |
- |
- |
- |
|
3 |
- |
250 |
- |
- |
|
4 |
- |
- |
- |
230 |
14. Explain the process of Long-run Equilibrium Price determination
of perfectly competitive industry with diagram. 6
Or
Show the effects of change in demand of
a commodity on equilibrium price, if
3+3=6
(i)
The supply of a commodity is perfectly elastic.
(ii)
The supply of a commodity is perfectly inelastic.
PART
– B
15. (a) In what circumstances, the GDP
of an economy can be equal to GNP? 1
(b) What is transfer payment? 1
(c) What is voluntary unemployment? 1
(d) What is Break-Even Income? 1
(e) What is the full form of GST? 1
(f) What is zero primary deficit? 1
16. Mention two subject matters of Macroeconomics. 2
17. Mention any two types of leakages found in the Circular Flow of
Income. 2
18. What is investment multiplier? Write the relationship between
investment multiplier and MPC. 1+1=2
19. Mention the two primary functions of money. 2
20. Mention two differences between revenue receipts and capital
receipts. 2
21. State two sources of supply of foreign currency. 1+1=2
22. The value of MPC of an economy is 0.4. What amount of new
investment is required to generate new income of Rs. 500 crore in the economy? 4
23. Explain any two fiscal measures to solve the problems of excess
demand in an economy. 2+2=4
24. Mention four factors causing disequilibrium in Balance of
Payment of a country. 4
25. Write down four differences between Direct Tax and Indirect Tax.
4
26. What is Budget Deficit? What are the three types of Budgetary
Deficit? 1+3=4
27. Describe the Circular Flow of Income in a Three Sector Economy. 6
Or
Explain the Expenditure Method of
calculating Gross Domestic Product (GDP). 6
28. Explain the process of credit creation by commercial banks. 6
Or
Describe the Quantitative method of
adopted by the Central Bank to control credit created by commercial banks. 6
***
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