# Solved papers for 12th Class Economics Solved Paper - Economics 2013 Delhi Set-I

### done Solved Paper - Economics 2013 Delhi Set-I

• question_answer1) Give two examples of fixed costs.

• question_answer3) When is the demand for a good said to be inelastic?

• question_answer4) Give the meaning of market demand.

• question_answer5) Under which market form a firms marginal revenue is always equal to price.

• question_answer6) Explain the difference between an inferior good and a normal good.

 Explain the law of diminishing marginal utility with the help of a total utility schedule. Or Explain the condition of consumer's equilibrium with the help of utility analysis.

• question_answer8) When the price of a good rises from Rs. 20 per unit to Rs. 30 per unit, the revenue of the firm producing this good rises from Rs. 100 to Rs. 300. Calculate the price elasticity of supply.

 Complete the following table: Units of Labour Average Product (Units) Marginal Product (Units) 1 8 ? 2 10 ? 3 ? 10 4 9 ? 5 ? 4 6 7 ?

• question_answer10) Explain 'large number of buyers and sellers' feature of a perfectly competitive market.

• question_answer12) Explain the conditions of producer's equilibrium with the help of a numerical example.

• question_answer13) The price elasticity of demand for a good is$\mathbf{0}.\mathbf{4}$. If its price increase by 5 per cent, by what percentage will its demand fall? Calculate.

 Giving reasons, state whether the following statements are true or false: (i) A monopolist can sell any quantity he likes at a price. (ii) When equilibrium price of a good is less than its market price, there will be competition among the sellers.

• question_answer15) Explain the Law of Variable Proportions with the help of total product and marginal product curves.

 Explain consumer's equilibrium with the help of Indifference Curve Analysis. Or Explain the relationship between (i) Prices of other goods and demand for the given good. (ii) Income of the buyers and demand for a good.

• question_answer17) How can increase in foreign direct investment affect the price of foreign exchange?

• question_answer18) What are demand deposits?

• question_answer19) Give one example of 'externality' which reduces welfare of the people.

• question_answer20) Give two examples of indirect taxes.

• question_answer21) What is a Government Budget?

 Distinguish between revenue expenditure and capital expenditure in Government budget. Give an example of each. Or Distinguish between revenue deficit and fiscal deficit.

• question_answer23) Explain any one objective of Government Budget.

• question_answer24) Explain the effect of appreciation of domestic currency on imports.

• question_answer25) Distinguish between balance of trade and balance on current account.

 Calculate 'Sales' from the following data: (Rs. in lakhs) (i) Net value added at factor cost 560 (ii) Depreciation 60 (iii) Change in stock (-) 30 (iv) Intermediate cost 1000 (v) Exports 200 (vi) Indirect taxes 60

 Giving reasons categorise the following into stock and flow: (i) Capital (ii) Saving (iii) Gross domestic product (iv) Wealth Or Explain the circular flow of income.

• question_answer28) Explain Banker to the Government function of the central bank.

 C = 100 + 0.4Y is the Consumption Function of an economy where C is Consumption Expenditure and Y is National Income. Investment expenditure is 1100. Calculate (i) Equilibrium level of National Income. (ii) Consumption expenditure at equilibrium level of National Income.

 Complete the following table: Income (Rs.) Consumption expenditure (Rs.) Marginal propensity to save Average propensity to save 0 80 ? ? 100 140 0.4 ? 200 ? ? 0 ? 240 ? 0.20 ? 260 0.8 0.35

 Calculate National Income from the following data: (Rs. in crores) (i) Private final consumption expenditure 900 (ii) Profit 100 (iii) Government final consumption expenditure 400 (iv) Net indirect taxes 100 (v) Gross domestic capital formation 250 (vi) Change in stock 50 (vii) Net factor income from abroad (-) 40 (viii) Consumption of fixed capita 20 (ix) Net imports 30