ISC Question Paper 2009

Economics

Class - XII

PART - I

General Instruction:

(i) Answer all question in Part I and five questions from Part II.

(ii). All working including rough work should be done on the same sheet as, and adjacent to the rest of the answer.

(iii). The intended marks for questions or parts of questions are given in brackets []. (Material to be supplied: Log tables including Trigonometric functions)

(iv). Candidates are allowed additional 15 minutes for only reading the paper. They must NOT start writing during this time.

Q1. Answer briefly each of the questions (i) to (xv).                       [15x2]

(i) Mention two examples of macro-economic analysis.

(ii) How does an increase in income, affect the quantity demanded of an inferior commodity?

(iii) When does marginal utility become negative?

(iv) Draw demand curves showing:
         Ed=0;      Ed=infinite

(v) State two significant differences between extension in supply and increase in supply.

(vi) Define average product. How can you get average product from total product?

(vii) Differentiate between money cost and real cost.

(viii) When can the AR = MR = Price? Give reasons for your answer.

(ix) Define the market which has product differentiation as a distinguishing characteristic.

(x) What do you mean by collective bargaining?

(xi) Mention two non tax sources of revenue of central government.

(xii) What do you mean by transfer payment ? Give one example.

(xiii) Discuss any one importance of a budget.

(xiv) Why do countries engage in international trade? Give two reasons.

(xv) Mention two adverse effects of an internal public debt.

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