CBSE Guess Paper - 2011
Class- XII
Subject – Economics
1. What is meant by the term ‘Market’? 1
2. If two demand curve intersects which will have more elasticity. 1
3. Distinguish between movement along the supply curve and shift in supply curve. 3
4. Distinguish between Centrally planned economy and Market economy. 3
5. Given below is the utility schedule of a consumer for commodity X. The price of the commodity is Rs. 3 per unit. How many units should the consumer purchase to maximize satisfaction? (Assume that utility is expressed in utils and 1 util= Re.1) Give reasons for your answer. 3
| Consumption ( units) | 1 | 2 | 3 | 4 | 5 |
| Total Utility ( utils) | 8 | 15 | 20 | 23 | 25 |
6. Calculate total variable cost and total cost from the following cost schedule of a Firm whose fixed costs are Rs. 10. 4
| Output ( units) | 1 | 2 | 3 | 4 |
| MC (Rs.) | 6 | 5 | 4 | 6 |
7. Explain the relation between average revenue and marginal revenue of a firm in a perfect market, monopoly market and monopolistic competition market. 4
8. Explain the relation between Marginal cost and Average cost with the help of a diagram. 6
9. From the following data calculate National income. 6
a) Income method
b) Expenditure method
| Compensation fo employees | 1200/- |
| NFIA | -20/- |
| NIT | 120/- |
| Profit | 800/- |
| Private final consumption exp. | 2000/- |
| Net domestic capital formation | 770/- |
| Consumption of fixed capital | 130/- |
| Rent | 400/- |
| Interest | 620/- |
| Mixed income of self employed | 700/- |
| Net exports | -30/- |
| Govt final consumption exp. | 1100/- |
10. How is the equilibrium price of a good determined? Explain with the help of a diagram a situation when both demand and supply curves shift to the right but equilibrium price remains the same. 6