CBSE Guess Paper – 2011

Class- XII

Subject – Economics

1. Define total product of an input.                                                                                            1

2. What is the shape of the supply curves during very short period?                                         1

3. State any two causes of an economic problem.                                                                     1

4. Draw average revenue curve of a firm under perfect competition.                                         1

5. When APP is at its maximum, what is the relation between MPP and APP?                          1

6. How does a change in the price of inputs affect the supply curve of a commodity? Explain.                       3

7. What will be the price elasticity of supply if the supply curve is a positively sloped straight line?                3

8. Explain the central problem of ‘for whom to produce’.                                                            3

9. Explain the effect of ‘technological changes’ on the supply of a product.                               3

10. State the meaning and components of aggregate demand.                                                      3

11. State any three main functions of a central bank. Describe any one of them.                        4

12. Explain briefly the factors affecting the market supply of a commodity.                                  4

13. The quantity demanded of a commodity at a price of Rs 8 per unit is 600 units. Its price falls by 25% and quantity demanded rises by 120 units. Calculate its elasticity of demand. Is the demand elastic? Give reasons.                              4

14. Calculate APS and MPS from the following date:-                                        4

A	0	100	200	300	400
B	10	100	180	270	380

15. Under perfect competition the seller is a price taker, under monopoly he is a price maker. Explain.                  4

16. Distinguish between:                                                                   6

   a) normal goods and inferior goods with examples,

   b) substitute goods and complementary goods with examples.

   c) When price of a good falls by 10 percent, its quantity demanded rises from 40 to 50 units.

Calculate price elasticity of demand by percentage method.

17. Differentiate between factor payment and transfer payment. Explain briefly the concept of ‘mixed income of self-employed’.                     6

18. Explain with the help of a numerical example how an increase in investment in an economy affects its level of income.                                6

19. Explain any four factors affecting the market demand of a commodity.                                 6

20. How does the change in following factors affect the supply of a commodity?                         6

    i.  If subsidies decrease.

   ii. If the price of substitute good increases.