Solved papers for 12th Class Economics Solved Paper - Economics 2011 Delhi Set-I

done Solved Paper - Economics 2011 Delhi Set-I Total Questions - 30

• question_answer1) What is a market economy?
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• question_answer2) When is a firm called 'price-taker'?
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• question_answer3) Define budget set.
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• question_answer4) What is meant by 'increase' in supply?
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• question_answer5) Define supply.
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• question_answer6) Why is a production possibilities curve concave? Explain.
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• question_answer7) Giving examples, explain the meaning of cost in economics.
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• question_answer8) Draw average revenue and marginal revenue curves in a single diagram of a firm which can sell more units of a good only by lowering price of that good. Explain.
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• question_answer9) 

  Explain the implication of 'freedom of entry exit to Ae firms' under perfect competition.

  Or

  Explain the implication of 'perfect knowledge about market' under perfect competition.

   
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• question_answer10) 'A consumer consumes only two goods X and Y'. State and explain the conditions of consumer's equilibrium with the help of utility analysis.
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• question_answer11) Explain how the demand for a good is affected by the prices of its related goods. Give examples.
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• question_answer12) 

  Define 'Market-supply'. What is the effect on the supply of a good when government imposes a tax on the production of that good? Explain.

  Or

  What is a supply schedule? What is the effect on the supply of a good when government gives a subsidy on the production of that good? Explain.

   
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• question_answer13) Explain the three properties of indifference curves.
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• question_answer14) Market for a good is in equilibrium. There is an 'increase' in demand for this good. Explain the chain of effects of this change. Use diagram.
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• question_answer15) What is nominal gross domestic product?
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• question_answer16) Define flow variable.
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• question_answer17) Define cash variable ratio.
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• question_answer18) Define money supply.
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• question_answer19) Define foreign exchange rate.
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• question_answer20) State the components of capital account of balance of payments.
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• question_answer21) Explain how 'distribution of gross domestic product' is a limitation in taking gross domestic product as an index of welfare.
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• question_answer22) Given that national income is Rs. 80 crore and consumption expenditure Rs. 64 crore, find out average propensity of save. When income rise to Rs. 100 crore and consumption expenditure to Rs. 78 crore, what will be the average propensity to consume and the marginal propensity to consume?
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• question_answer23) Explain the relationship between investment multiplier and marginal propensity to consume.
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• question_answer24) 

  When price of a foreign currency rises, its demand falls. Explain why.

  Or

  When price of a foreign currency rises, its supply also rises. Explain why.

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• question_answer25) 

  Explain the 'allocation of resources' objective of Government budget.

  Or

  Explain the 'redistribution of income, objective of Government budget.

   
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• question_answer26) 

  From the following data about a Government budget, find out (a) Revenue deficit, (b) Fiscal deficit and (c) Primary deficit:
  S. No.	Items	(Rs) Arab
  (i)	Capital receipt net of borrowings	95
  (ii)	Revenue expenditure	100
  (iii)	Interest payments	10
  (iv)	Revenue receipt	80
  (v)	Capital expenditure	110

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• question_answer27) 

  Giving reasons classify the following into intermediate products and final products:

  (i) Furniture purchased by a school.

  (ii) Chalks, dusters, etc, purchased by a school.

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• question_answer28) 

  Explain the role of the following in correcting ?deficit demand? in an economy:

  (i) Open market operations.

  (ii) Bank rate.

  Or

  Explain the role of the following in correcting excess demand' in an economy:

  (i) Bank rate.

  (ii) Open market operations.

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• question_answer29) Explain the process of money creation by the commercial banks with the help of a numerical example.
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• question_answer30) 

  Calculate National Income and Gross National Disposable Income from the following:
  S. No.	Items	(Rs. crore)
  (i)	Net current transfers to the rest of the	(-) 5
  (ii)	Private final consumption expenditure	500
  (iii)	Consumption of fixed capital	20
  (iv)	Net factor income to abroad	(-) 10
  (v)	Government final consumption expenditure	200
  (vi)	Net indirect tax	100
  (vii)	Net domestic fixed capital formation	120
  (viii)	Net imports	30
  (ix)	Change in stocks	(-) 20

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