(Download) CBSE Class-12 Sample Paper (Economics) 2014-15

Time : 3 Hours

Maximum Marks : 100

Instructions:

1. All questions in both sections are compulsory. However, there is internal choice in some questions.
2. Marks for questions are indicated against each question. 3. Question No.1-3 and 15-19 are very short answer questions carrying 1 mark each. They are required to be answered in one sentence.
4. Question No.4-8 and 20-22 are short answer questions carrying 3 marks each. Answers to them should not normally exceed 60 words each.
5. Question No.9-10 and 23-25 are also short answer questions carrying 4 marks each. Answers to them should not normally exceed 70 words each.
6. Question No.11-14 and 26-29 are long answer questions carrying 6 marks each. Answers to them should not normally exceed 100 words each
7. Answers should be brief and to the point and the above word limit be adhered to as far as possible.

Section A: Microeconomics

1. The total cost at 5 units of output is Rs 30. The fixed cost is Rs 5. The average variable cost at 5 units of output is: (1)

a) Rs 25
b) Rs 6
c) Rs 5
d) Re 1

2. What policy initiatives can the government undertake to increase the demand of milk in the country? Mention any one. (1)

3. Which of the shaded area in the diagrams below represent total utility? (1)

For blind candidates:

What does the area under the marginal utility curve depict?

a) Average Utility b) Total Utility
c) Indifference Curve d) Consumer equilibrium

4. Using a diagram explain what will happen to the PPC of Bihar if the river Kosi causes widespread floods? (3)

For blind candidates:

State two assumptions of a PPC. Explain what will happen to the PPC of the Bihar if the river Kosi causes widespread floods.

5. State the central problems of an economy. (3)

6. State whether the following statements are True or False. Justify your answer. (3)
a) Average product rises only where marginal product rises.
b) Total cost rises only when marginal cost rises.

7. Explain the effects of a 'price ceiling'. (3)

OR

Explain the effects of a ‘price floor’.

8. Explain the implications of freedom of entry and exit of firms under perfect competition. (3)

9. A good is an 'inferior' good for one and at the same time 'normal 'good for another consumer. Do you agree? Explain with the help of an example. (4)

10. Explain why an indifference curve is convex to the origin? (4)

OR

A consumer consumes two goods X and Y. What will happen if MUx/Px is greater than MUy/Py?
 

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