Guess Paper – 2009
Class – XII
Subject – Economics
Time:3 hrs M. Marks 100
General Instructions:
i) All questions are compulsory.
ii) Question nos. 1–10 are very short answer questions carrying 1 mark each. They are to be answered in one sentence.
iii) Question nos. 11–20 are short answer questions carrying 3 marks each. Answer to them should not normally exceed 60 words each.
iv) Question nos. 21–26 are also short answer questions carrying 4 marks each. Answer to them should not normally exceed 70 words each.
v) Question nos. 27–32 are long answer questions carrying 6 marks each. Answer to them should not normally exceed 100 words each.
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1. Define production function.
2. Define cost.
3. What does problem of ‘what to produce’ refer to?
4. Define AR.
5. What is meant by equilibrium price.
6. Give two reasons for the problem of choice.
7. Define return to Scale.
8. Define marginal cost.
9. Define price elasticity of supply?
10. What are inferior goods?
11. The market demand for a good at Rs.5 per unit is 100 units. When the price changes, demand falls to 50 units. Find the new price, if price elasticity of demand of that good is 2.5
12. Explain consumer’s equilibrium in case of two commodities.
13. Explain law of diminishing return to factor giving suitable example.
14. Explain three determinants of supply for a commodity.
15. Differentiate between micro and macro economics?
16. Explain the relationship between MR and TR.
OR
Why AVC curve is U shaped?
17. The price of the commodity changes from Rs.5 to Rs.20. As a result the supply of the commodity increases by 15 units. The price elasticity of supply is 0.5. Find the supply at both the prices.
18. Differentiate between contraction of demand and decrease in demand?
19. How equilibrium price is affected by change in demand?
20....