(Download) CBSE Class-12 Sample Paper And Marking Scheme 2015-16 : Economics

Sample Question Paper (Set-2)
Economics (030)
Class XII (2015-16)

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.1-5 and 16-20 are very short answer questions carrying 1 mark each. They are required to be answered in one sentence.
4. Question No.6-8 and 21-23 are short answer questions carrying 3 marks each. Answers to them should not normally exceed 60 words each.
5. Question No.9-11 and 24-26 are also short answer questions carrying 4 marks each. Answers to them should not normally exceed 70 words each.
6. Question No.12-15 and 27-30 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. If it is given that the total variable cost for producing 15 units of output is 3000 and for 16 units is 3,500. Find the value of Marginal Cost. (1)

2. Ceteris Paribus, if the government provides subsidies on electricity bills, what would be the likely change in the market demand of desert coolers? (1)

3. Which of the can be referred to as ‘point of satiety’? (1)
i) Marginal Utility is negative iii) Total Utility is rising
ii) Marginal utility is zero iv) Total Utility is falling

4. Which of the following is an assumption of Production Possibility Frontier? (1)
i) Resources are not fully employed.
ii) Resources are not equally efficient for production of the two goods.
iii) Resources are not efficiently employed.
iv) Resources available are not fixed.

5. State any two central problems under ‘problem of allocation of resources’. (1)

6. ‘Supply curve is the rising portion of marginal cost curve over and above the minimum of Average Variable cost curve’. Do you agree? Support your answer with valid reason. (3)

7. Explain ‘black marketing’ as a direct consequence of price ceiling. (3)
OR
Explain the concept of ‘buffer stock’ as a tool of price floor.

8. Explain any two sources of restricted entry under monopoly. (3)

9. Comment upon the degree of elasticity of demand for Good X, in the following given situations, if the price of the commodity rises from 5 per unit to 7 per unit and the quantity demanded falls from 20 units to 16 units :
i) Using the total household expenditure method,
ii) Using proportionate method. (4)

10. ‘Higher indifference curve represents higher level of satisfaction to the consumer’. Explain the statement, also state the underlying assumption related to this property of indifference curve. (4)
OR
A consumer consumes two goods X and Y. Explain what will happen if MUx/Px is greater than MUy/Py?

11. Define Marginal Opportunity Cost. Explain the concept with a hypothetical numerical example. (4)

12. a) What is meant by price rigidity, under oligopoly. (2)

b) Elaborate the implication of the conditions of equilibrium of a firm. (4)

13. a) Distinguish between stock and supply.
b) Complete the following schedule: (2+4)

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