Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2014-2015
Date: मार्च 2015
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Define utility.
Chapter: [0.02] Consumer Equilibrium and Demand
If with the rise in the price of good Y, demand for good X rises, the two goods are: (Choose the correct alternative)
a. Substitutes
b. Complements
c. Not related
d. Jointly demanded
Chapter: [0.02] Consumer Equilibrium and Demand
A consumer consumes only two goods. If the price of one of the goods falls, the indifference curve: (Choose the correct alternative)
a. Shifts upwards
b. Shifts downwards
c. Can shift both upwards or downwards
d. Does not shift
Chapter: [0.02] Consumer Equilibrium and Demand
Giving reason, comment on the shape of Production Possibilities Curve based on the following table :
| Good X (units) | Good Y (units) |
| 0 | 4 |
| 1 | 3 |
| 2 | 2 |
| 3 | 1 |
| 4 | 0 |
Chapter: [0.01] Introduction
What will be the impact of "Education for All campaign" (Sarv Shiksha Abhiyan) on the Production Possibilities Curve of the Indian economy and why?
Chapter: [0.03] Producer Behaviour and Supply
What will likely be the impact of the large-scale inflow of foreign capital in India on Production Possibilities Curve and why?
Chapter: [0.03] Producer Behaviour and Supply
The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why?
Chapter: [0.02] Consumer Equilibrium and Demand
There are no barriers in the way of firms leaving or joining industry in a perfectly competitive market. Explain the significance of this feature.
Chapter: [0.04] Forms of Market and Price Determination
What is maximum price ceiling? Explain its implications.
Chapter: [0.04] Forms of Market and Price Determination
A consumer spends Rs 400 on a good priced at Rs 4 per unit. When the price rises by 25 percent, the consumer continues to spend Rs 400. Calculate the price elasticity of demand by percentage method.
Chapter: [0.02] Consumer Equilibrium and Demand
What is supply?
Chapter: [0.03] Producer Behaviour and Supply
Explain the effect of technological progress on supply of a good.
Chapter: [0.03] Producer Behaviour and Supply
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What is 'change in supply'? Explain the effect of tax imposed on a good on the supply of the good.
Chapter: [0.03] Producer Behaviour and Supply
A consumer consumes only two goods, each priced at Rupee one per unit. If the consumer chooses a combination of the two goods with Marginal Rate of Substitution equal to 2, is the consumer in equilibrium? Give reasons. Explain what will a rational consumer do in this situation.
Chapter: [0.02] Consumer Equilibrium and Demand
A consumer consumes only two goods X and Y whose prices are Rs 2 and Rs 1 per unit respectively. It the consumer chooses a combination of the two goods with marginal utility of X being 4 and that of Y also being 4, is the consumer in equilibrium ?Give reasons. Explain what will a rational consumer do in this situation. Use Marginal Utility Analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
What are the different phases in the Law of Variable Proportions in terms of Total Product ? Give reasons behind each phase. Use diagram.
Chapter: [0.03] Producer Behaviour and Supply
Explain why will a producer not be in equilibrium if the conditions of equilibrium are not met.
Chapter: [0.03] Producer Behaviour and Supply
Market of a good is in equilibrium. If the demand for the good 'decreases'. Explain the chain of effects of this change.
Chapter: [0.02] Consumer Equilibrium and Demand
Name any two components of 'aggregate demand'.
Chapter: [0.04] Determination of Income and Employment
If MPC = 0, the value of the multiplier is: (Choose the correct alternative)
a. 0
b. 1
c. Between 0 and 1
d. Infinity
Chapter: [0.04] Determination of Income and Employment
Primary deficit in a government budget equals : (Choose the correct alternative)
a. Interest payments
b. Interest payments less borrowings
c. Borrowings less interest payments
d. None of the above
Chapter: [0.05] Government Budget and the Economy
Which one of these is a revenue expenditure?
Purchase of shares
Loans advanced
Subsidies
Expenditure on acquisition of land
Chapter: [0.05] Government Budget and the Economy
Other things remaining the same, when the foreign currency becomes cheaper, the effect on national income is likely to be : (Choose the correct alternative)
a. Positive
b. Negative
c. Positive and negative both
d. No effect
Chapter: [0.06] Open Economy Macroeconomics
If the Nominal Gross Domestic Product = Rs 4,400 and the Price Index (base = 100) = 110, calculate the Real Gross Domestic Product.
Chapter: [0.02] National Income and Related Aggregates
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Give the meanings of 'autonomous' transactions and 'accommodating' transactions in the Balance of Payments Accounts.
Chapter: [0.06] Open Economy Macroeconomics
Give the meanings of Balance of Trade and Balance on Current Account of Balance of Payments Accounts
Chapter: [0.06] Open Economy Macroeconomics
Giving reasons explain where charity to foreign countries is recorded in the Balance of Payments Accounts
Chapter: [0.06] Open Economy Macroeconomics
Explain "Banker to the Government" function of the Central Bank.
Chapter: [0.03] Money and Banking
Explain 'Bankers' Bank' function of the central bank.
Chapter: [0.03] Money and Banking
Currency is issued by the central bank, yet we say that commercial banks create money. Explain. How is this money creation by commercial banks likely to affect the national income? Explain
Chapter: [0.03] Money and Banking
An economy is in equilibrium. Calculate Marginal Propensity to Save from the following :
National Income = 1,000
Autonomous Consumption = 100
Investment Expenditure = 200
Chapter: [0.04] Determination of Income and Employment
Giving reason explain how should the following be treated in the estimation of national income:
Payment of corporate tax by a firm
Chapter: [0.02] National Income and Related Aggregates
Giving reasons explain how should the following be treated in the estimation of national income:
Purchase of machinery by a factory for own use
Chapter: [0.02] National Income and Related Aggregates
Giving reasons explain how should the following be treated in the estimation of national income:
Purchase of uniforms for nurses by a hospital
Chapter: [0.02] National Income and Related Aggregates
What is meant by inflationary gap?
Chapter: [0.04] Determination of Income and Employment
Explain the role of Cash Reserve Ratio in removing an inflationary gap
Chapter: [0.04] Determination of Income and Employment
Explain the concept of 'deficient demand' in macroeconomics.
Chapter: [0.04] Determination of Income and Employment
Explain the role of 'Margin Requirements' in removing this deficient demand gap.
Chapter: [0.04] Determination of Income and Employment
Explain the role of government budget in fighting inflationary and deflationary tendencies.
Chapter: [0.05] Government Budget and the Economy
Calculate the Gross National Product at Market Price and Personal Income :
| (Rs crores) | ||
| (i) | Wages and salaries | 800 |
| (ii) | Personal tax | 150 |
| (iii) | Operating surplus | 200 |
| (iv) | Undistributed profits | 10 |
| (v) | Social security contributions by employers | 100 |
| (vi) | Corporate tax | 50 |
| (vii) | Net factor income to abroad | (−) 20 |
| (viii) | Personal disposable income | 1,200 |
| (ix) | Net indirect tax | 70 |
| (x) | Consumption of fixed capital | 30 |
| (xi) | Mixed income of self-employed | 500 |
| (xii) | Royalty | 9 |
Chapter: [0.02] National Income and Related Aggregates
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CBSE previous year question papers Class 12 Economics with solutions 2014 - 2015
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