Solved papers for 12th Class Economics Solved Paper - Economics 2014 Outside Delhi Set-I

done Solved Paper - Economics 2014 Outside Delhi Set-I

  • question_answer1) The government has started promoting foreign capital. What is its economic value in the context of Production Possibilities Frontier?

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  • question_answer2) Define indifference curve.

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  • question_answer3) Define marginal product.

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  • question_answer4) What is market supply of a product?

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  • question_answer5) What is imperfect oligopoly?

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  • question_answer6) Why is Production Possibilities Curve concave? Explain.

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  • question_answer7)

    Explain how technological progress is a determinant of supply of a good by a firm.
    Or
    Explain how input prices are a determinant of supply of a good by a firm.

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  • question_answer8) Why is Average Revenue always equal to price?

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  • question_answer9) Why is the number of firms small in oligopoly? Explain.

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  • question_answer10)

    A consumer consumes only two goods X and Y and is in equilibrium. Show that when the price of good X rises, the consumer buys less of good X. Use utility analysis.
    Or
    Given the price of a good, how will a consumer decide as to how much quantity of that good to buy? Use utility analysis.

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  • question_answer11) Give the meaning of 'inferior' good and explain the same with the help of an example.

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  • question_answer12) Giving reasons, explain the 'Law of Variable Proportions'.

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  • question_answer13)

    Explain why is an indifference curve (a) downward sloping and (b) convex.
    Or
    Explain the concept of 'Marginal Rate of Substitution' with the help of a numerical example. Also explain its behavior along an indifference curve.
     

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  • question_answer14)

    From the following information about a firm, find the firm's equilibrium output in terms of marginal cost and marginal revenue. Give reasons. Also find profit at this output.
    Output (units) Total Revenue (Rs.) Total Cost (Rs.)
    1 6 7
    2 12 13
    3 18 17
    4 24 23
    5 30 31
     

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  • question_answer15) Market of a commodity is in equilibrium. Demand for the commodity 'decreases'. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

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  • question_answer16) What are the time deposits?

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  • question_answer17) Define inflationary gap.

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  • question_answer18) What is full employment?

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  • question_answer19) Define fiscal deficit.

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  • question_answer20) Define foreign exchange rate.

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  • question_answer21) What are externalities? Give an example of a positive externality and its impact on welfare of the people.

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  • question_answer22)

    Is the following a revenue receipt or a capital receipt in the context of government budget and why?
    (i) Tax receipts
    (ii) Disinvestment

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  • question_answer23) Distinguish between 'autonomous' and 'accommodating' Balance of Payments transactions.

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  • question_answer24) Foreign exchange rate in India is on the rise recently. What impact is it likely to have on exports and how?

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  • question_answer25)

    Explain 'Banker to the Government' function of the central bank.
    Or
    Explain 'Bankers' Bank? function of the central bank.

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  • question_answer26)

    Calculate Marginal Propensity to Consume from the following data about an economy which is in equilibrium:
    National income = 2000
    Autonomous consumption expenditure = 200
    Investment expenditure = 100

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  • question_answer27) Tax rates on higher income group have been increased. Which economic value does it reflect? Explain.

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  • question_answer28)

    Calculate 'Net National Product at Factor Cost' from the following?
                                                (Rs. in Arab)
    (i) Social security contributions by employees 90
    (ii) Wages and salaries 800
    (iii) Net current transfers to abroad (-) 30
    (iv) Rent and royalty 300
    (v) Net factor income to abroad 50
    (vi) Social security contributions by employees 100
    (vii) Profit 500
    (viii) Interest 400
    (ix) Consumption of fixed capital 200
    (x) Net indirect tax 250
     

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  • question_answer29)

    How should the following be treated in estimating national income of a country? You must give reasons for your answer.
    (i) Taking care of aged parents
    (ii) Payment of corporate tax
    (iii) Expenditure on providing police services by the government

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  • question_answer30)

    When is an economy in equilibrium? Explain with the help of saving and Investment functions. Also explain the changes that take place in an economy when the economy is not in equilibrium. Use diagram.
    Or
    Outline the steps required to be taken in deriving the Consumption Curve from the given Saving Curve. Use diagram.
    Note: The following question is for the Blind Candidates only in lieu of Q.No.32.
    Define investment. Explain national income equilibrium through saving and investment function. Also explain the changes that takes place in an economy when the economy is not in equilibrium.
    Or
    What is Consumption Function? How can it be derived from the Saving Function? Explain.

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Solved Paper - Economics 2014 Outside Delhi Set-I
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