Solved papers for 12th Class Economics Solved Paper - Economics 2012 Delhi Set-I

done Solved Paper - Economics 2012 Delhi Set-I Total Questions - 30

• question_answer1) Give meaning of an Economy.
  View Answer play_arrow

• question_answer2) What is market demand?
  View Answer play_arrow

• question_answer3) What is behaviour of average fixed cost as output increases?
  View Answer play_arrow

• question_answer4) What is the behaviour of average revenue in a market in which a firm can sell more only by lowering the price?
  View Answer play_arrow

• question_answer5) What is a price taker firm?
  View Answer play_arrow

• question_answer6) Given price of a goods, how does a consumer decide as to how much of the good to buy?
  View Answer play_arrow

• question_answer7) Draw Average Variable Cost, Average Total Cost and Marginal Cost curves in a single diagram.
  View Answer play_arrow

• question_answer8) An individual is both the owner and the manager of a shop taken on rent. Identify implicit cost and explicit cost from this information. Explain.
  View Answer play_arrow

• question_answer9) 

  Explain the implication of large number of sellers in a perfectly competitive market.

  Or

  Explain why firms are mutually interdependent in an oligopoly market.

  View Answer play_arrow

• question_answer10) Define an indifference curve. Explain why an indifference curve is downward sloping from left to right.
  View Answer play_arrow

• question_answer11) When price of good is Rs. 7 per unit a consumer buys 12 units. When price falls to Rs. 6 per unit he spends Rs. 72 on the good. Calculate price elasticity of demand by using the percentage method. Comment on the likely shape of demand curve based on this measure of elasticity.
  View Answer play_arrow

• question_answer12) 

  What does the Law of variable Proportions show? State the behaviour of total product according to this law.

  Or

  Explain how changes in prices of other products influence the supply of a given product.

  View Answer play_arrow

• question_answer13) 

  Explain how do the following influence demand for a good:

  (i) Rise in income of the consumer.

  (ii) Fall in prices of the related goods.

  View Answer play_arrow

• question_answer14) Explain the conditions of a producer's equilibrium in terms of marginal cost and marginal revenue. Use diagram.
  View Answer play_arrow

• question_answer15) 

  Market for a good is in equilibrium. There is simultaneous 'increase' both in demand and supply of the good. Explain its effect on market price.

  Or

  Market for a good is in equilibrium. There is simultaneous "decrease" both in demand and supply of the good. Explain its effect on market price.

   
  View Answer play_arrow

• question_answer16) Define stock variable.
  View Answer play_arrow

• question_answer17) Define capital goods.
  View Answer play_arrow

• question_answer18) What are demand deposits?
  View Answer play_arrow

• question_answer19) Define a Tax.
  View Answer play_arrow

• question_answer20) Give meaning of managed floating exchange rate.
  View Answer play_arrow

• question_answer21) 

  Calculate Gross Value Added at Factor Cost:
  (i)	Units of output sold (units)	1,000
  (ii)	Price per unit of output (Rs.)	30
  (iii)	Depreciation (Rs.)	1,000
  (iv)	Intermediate cost (Rs.)	12,000
  (v)	Closing stock (Rs.)	3,000
  (vi)	Opening stock (Rs.)	2,000
  (vii)	Excise (Rs.)	2,500
  (viii)	Sales tax (Rs.)	3,500

  View Answer play_arrow

• question_answer22) Outline the steps taken in deriving saving curve from the consumption curve. Use diagram.
  View Answer play_arrow

• question_answer23) 

  Find national income from the following:

  Autonomous consumption                  =Rs 100

  Marginal propensity to consume          =0.80

  Investment                                           =Rs. 50

  View Answer play_arrow

• question_answer24) 

  Distinguish between Revenue Expenditure and Capital Expenditure in a government budget. Give examples.

  Or

  Explain the role of Government budget in allocation of resources.

  View Answer play_arrow

• question_answer25) 

  Giving reason explain how should the following be treated in estimating national income:

  (i) Expenditure on fertilizers by a farmer.

  (ii) Purchase a tractor by a farmer.

  View Answer play_arrow

• question_answer26) 

  Explain the components of Legal Reverse Ratio.

  Or

  Explain 'bankers' banks function of Central bank.

   
  View Answer play_arrow

• question_answer27) Explain 'revenue deficit in a Government budget? What does it indicate?
  View Answer play_arrow

• question_answer28) 

  Find out (a) National income:
  (Rs. crores)
  (i)	Factor income from abroadt	15
  (ii)	Private Final Consumption Expenditure	600
  (iii)	Consumption of fixed capital	50
  (iv)	Government Final Consumption	200
  (v)	Net current transfers to abroad	(-) 5
  (vi)	Net domestic fixed capital formation	110
  (vii)	Net factor income to abroad	10
  (viii)	Net imports	(-) 20
  (ix)	Net indirect tax	70
  (x)	Change in stocks	(-) 10

  View Answer play_arrow

• question_answer29) 

  Explain the concept of excess demand? in macroeconomics. Also explain the role of open market operations in correcting it.

  Or

  Explain the concept of 'deficient demand' in macroeconomics. Also explain the role of bank Rate in correction it.

   
  View Answer play_arrow

• question_answer30) Explain the distinction between autonomous and accommodating transactions in balance of payments. Also explain the concept of balance of payments 'deficit' in this context.
  View Answer play_arrow