AHSEC| CLASS 12| ECONOMICS| QUESTION PAPER - 2015| H.S. 2ND YEAR
2015
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) Fill in the blank:
In economic, it
is generally assumed that the consumer is a ………. Individual. 1
(b) Define
substitute goods. 1
(c) Define
inferior goods. 1
(d) In which form
of market, products are homogeneous? 1
(e) What is the
shape of supple curve in the market period? 1
(f) What is
meant by equilibrium price? 1
2. Give the concept of centrally planned economy. 2
3. Distinguish between positive economics and normative
economics. 2
4. Draw a vertical demand curve and state the nature of
price elasticity on it. 2
5. State any two assumptions of the law of demand. 2
6. What is shut down point of a firm? 2
7. Total fixed cost of a firm is Rs. 100 when it produces 15
units of output. If the level of output increases to 30 units, what will be the
fixed cost in the short-run? Give reason for your answer. 2
8. Distinguish between change in quantity supplied and
change in supply. 4
9. Write down four characteristics of perfectly competitive
market. 4
10. Explain with the help of a diagram how the shifting of
the demand curve for a commodity affects the equilibrium price and output. 4
Or
What is change
in demand? State any three factors that can cause shift in the demand curve.
1+3=4
11. State the law of diminishing returns. State the reason
behind this law. 1+3=4
Or
Explain the
relationship between Marginal Product (MP) and Total Product (TP) of an input.
12. Distinguish between explicit cost and implicit cost.
Give one example of each of them. 2+2=4
13. Explain with the help of a diagram why at consumer’s
optimum point the budget line should be tangent to an indifference curve. 6
Or
Explain the
conditions for profit maximisation of a firm.
14. Show with the help of diagram how the market demand
curve can be derived from individual demand curves. 6
Or
Explain the
relation among TR, AR and MR of a monopolist with the help of a hypothetical
table and diagram.
PART – B
15. (a) What is macroeconomics? 1
(b) What is circular
flow of income? 1
(c) Define
intermediate goods. 1
(d) What is
velocity of circulation of money? 1
(e) “The
speculative demand for money is -----------(directly/ inversely) related to the
market rate of interest.” – (Fill in the blank by choosing the correct word
from the bracket) 1
16. Explain the concept of depreciation in the context of
national income accounting. 2
17. If the marginal propensity to consume (C) of an economy
is 0.9, find out the value of the income multiplier. 2
18. Distinguish between consumption goods and capital goods.
2
19. Explain the significance of revenue deficit. 2
20. Define private goods and public goods. 2
21. State two merits of fixed exchange rate. 2
22. What do you understand by the problem of double counting?
Explain the need for avoiding double counting in the estimation of national
income. 2+2=4
23. It is planned to make a new investment of Rs. 1000
crores in an economy. How much will be the increase in National Income if MPS
is 0.4? 4
24. What is investment? Distinguish between gross investment
and net investment. 2+2=4
25. Explain two functions operated through government
revenue and expenditure measures. 4
26. Explain the concepts of autonomous and accommodating
transactions of balance of payments. 4
Or
What do you mean
by disequilibrium in balance of payment (BOP)? Mention any two causes of
adverse BOP of a country.
27. From the following data, find out personal income and
personal disposable income. 4+2=6
|
Particulars |
Amount (Rs. in crore) |
|
(i) NDP at
factor cost (ii) Net
factor income from abroad (iii)
Undistributed profit (iv) Corporate
Tax (v) Interest received
by household (vi) Interest
paid by household (vii)
Transfer income (viii)
Personal tax |
9,000 150 500 600 1,200 1000 400 600 |
Or
Explain the
income method of calculating GDP.
28. Briefly explain any four functions of a commercial bank.
6
Or
Explain three
instruments of credit control used by the central bank.
***
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