CBSE Question Paper for Compartment Examination 2019-ECONOMICS (Code-58/C/1, 2, 3)
Code-58/C/1, 2, 3
Compartment Question Paper for Examination 2019
Class XII
ECONOMICS
Time allowed: 3 hours Maximum Marks: 100
General Instructions:
(i) All questions in both sections are compulsory.
(ii) Marks for questions are indicated against each question.
(iii) Question Nos. 1 – 4 and 13 – 16 are very
short-answer questions carrying 1 mark each. They are required to be
answered in one sentence each.
(iv) Question Nos. 5 – 6 and 17 – 18 are short-answer
questions carrying 3 marks each. Answers to them should normally not
exceed 60 words each.
(v) Question Nos. 7 – 9 and 19 – 21 are also short-answer
questions carrying 4 marks each. Answers to them should normally not
exceed 70 words each.
(vi)Question Nos. 10 – 12 and 22 – 24 are long-answer
questions carrying 6 marks each. Answers to them should normally not
exceed 100 words each.
(vii) Answers should be brief and to the point and the above word
limits should be adhered to as far as possible.
(Microeconomics)
One Mark Question
1. State the
equation of budget line
OR
Define Marginal Utility
2. According to
cardinal approach, utility is measured in terms of _______.
(Choose the correct alternative)
(a) Rupees
(b) Ranks
(c) Utils
(d) Units
3. The cost of next
best alternative foregone is called as ________. (Fill up the blank)
4. State any one
valid reason for leftward shift in demand curve.
OR
State the meaning of price
elasticity of demand.
Three Marks Questions
5. Explain the
behaviour of ‘marginal rate of transformation’ along a production possibility
curve. (Set-1)
5. Comment upon the
shape of production possibility curve, if the marginal rate of transformation
is constant. (Set-2)
5. Comment upon the shape of production possibility curve, if the marginal rate of transformation decreases. (Set-3)
6. Discuss with
valid reason, what happens to Average Fixed Cost (AFC) curve as output produced
increases.
OR
State and discuss the reason behind the U-shape nature of Average Variable Cost curve.
Four Marks Questions
7. ‘‘A firm under perfect competition is a price taker and the industry is a price maker.’’ Do you agree with the given statement? Support your answer with valid explanation.
8. Giving valid
reasons, state whether the following statements are true or false :
(a) An increase in
the income of a consumer would lead to an increase in demand for all types of
goods demanded by him.
(b) If percentage
change in quantity demanded is equal to percentage change in price, the demand
curve will be a straight line parallel to y-axis.
OR
The price of a commodity X increases by 20%, as a result the quantity demanded falls to zero. Calculate coefficient of price elasticity of demand. Comment upon the likely shape of the demand curve.
8. Giving valid
reasons, state whether the following statements are true or false :
(a)
An increase in the income of a consumer would lead to an increase in demand for
all types of goods demanded by him.
(b)
If percentage change in quantity demanded is equal to percentage change in
price, the demand curve will be a straight line parallel to y-axis.
OR
The price of a commodity X increases by 10%, as a result the quantity demanded falls by 20%. Calculate coefficient of price elasticity of demand. Comment upon the likely shape of the demand curve.
8. Giving valid
reasons, state whether the following statements are true or false :
(a)
An increase in the income of a consumer would lead to an increase in demand for
all types of goods demanded by him.
(b)
If percentage change in quantity demanded is equal to percentage change in
price, the demand curve will be a straight line parallel to y-axis.
OR
The price of a commodity X decreases by 10%, as a result the quantity demanded doubles .Calculate coefficient of price elasticity of demand. Comment upon the likely shape of the demand curve.
9. Complete the following Revenue schedule: (Set-1)
|
Output sold
(in units) |
1 |
2 |
3 |
4 |
|
Total revenue
(in ₹) |
18 |
--- |
--- |
48 |
|
Average
revenue (in ₹) |
--- |
--- |
14 |
--- |
|
Marginal
revenue (in ₹) |
--- |
14 |
--- |
--- |
OR
State the relation between Average Product (AP) and Marginal Product (MP), using a schedule or diagram.
9.
Complete the following Cost schedule: (Set-2)
|
Output sold
(in units) |
1 |
2 |
3 |
4 |
|
Total cost (in
₹) |
20 |
--- |
--- |
40 |
|
Average cost
(in ₹) |
--- |
--- |
12 |
--- |
|
Marginal cost(in
₹) |
--- |
10 |
--- |
--- |
OR
State the relation between
Average Product (AP) and Marginal Product (MP), using a schedule or diagram.
9.
Complete the following Cost schedule: (Set-3)
|
Output sold
(in units) |
1 |
2 |
3 |
4 |
|
Total cost (in
₹) |
30 |
--- |
--- |
48 |
|
Average cost
(in ₹) |
--- |
--- |
12 |
--- |
|
Marginal cost(in
₹) |
--- |
10 |
--- |
--- |
OR
State the relation between
Average Revenue (AR) and Marginal Revenue (MR), using a schedule or diagram, under
imperfect competition market.
Six Marks Questions
10. Market for a good is in equilibrium. Due to some technical innovation, production technology of the good improves. Explain the likely effects of this change on equilibrium price and equilibrium quantity of the good.
11. A consumer
consumes only two goods A and B and is in equilibrium. If the price of good B
rises, explain the likely reaction of the consumer under utility analysis.
OR
Explain any two properties of indifference curve.
12. Explain the
conditions of producer’s equilibrium with the help of a numerical example.
12. On the basis of
the given schedule, state at which level of output will the firm be at
equilibrium and why? (Set-2)
|
Quantity Sold
(in units) |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
|
Price (in (₹) |
20 |
20 |
20 |
20 |
20 |
20 |
20 |
|
Total Cost (in
(₹) |
10 |
50 |
80 |
100 |
105 |
125 |
150 |
12. On the basis of
the given schedule, state at which level of output will the firm be at
equilibrium and why? (Set-3)
|
Quantity Sold
(in units) |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
|
Price (in (₹) |
10 |
10 |
10 |
10 |
10 |
10 |
10 |
|
Total Cost (in
(₹) |
10 |
12 |
24 |
40 |
50 |
56 |
57 |
SECTION B
(Macroeconomics)
One Mark Question
13. Repo rate relates to ________. (Choose the correct alternative)
(a) Short-term
borrowings by commercial banks
(b) Long-term
borrowings by commercial banks
(c) Disinvestments
(d) Dis-savings
14. Signature of
________ appears on a ₹2000 currency note. (Fill up the blank.)
OR
State the formula used for calculating money multiplier.
15. Which one of the following is not a Capital expenditure?
(a) Loans advanced
by World Bank
(b) Construction of
school buildings
(c) Repayment of
loans
(d) Tax Receipts
16.
State the meaning of revenue deficit.
Three Marks Questions
17. ‘‘An economy
facing unintended accumulation of inventories would try to reduce aggregate
demand.’’ Do you agree with the given statement? Support your answer with valid
reasons.
OR
Value
of which of the following can be greater than one and why?
(a) Marginal
Propensity to Consume (MPC)
(b) Average Propensity to Consume (APC)
18. Giving valid
reasons, state whether the following statements are true or false: (Set-1)
(a) An excess of
aggregate demand over full employment level of aggregate supply represents a
situation of inflationary gap.
(b) If the ratio of Marginal Propensity to Consume (MPC) and Marginal Propensity to Save (MPS) is 4: 1, the value of investment multiplier will be 4.
18. Giving valid
reasons, state whether the following statements are true or false: (Set-2)
(a) Ex-post
investment means fixed capital with production units during a particular period
of time.
(b) Marginal propensity to consume represents the slope of the consumption function.
18. Giving valid
reasons, state whether the following statements are true or false: (Set-3)
(a) An excess of
aggregate demand over full employment level of aggregate supply represents a
situation of inflationary gap.
(b) If the ratio of Marginal Propensity to Consume (MPC) and Marginal Propensity to Save (MPS) is 4: 1, the value of investment multiplier will be 4.
Four Marks Questions
19. ‘‘Through its
budgetary policy government allocates resources in accordance with the
requirements of the country.’’ Do you agree with the given statement? Justify
your answer with valid reason.
20. What is legal
reserve ratio? How does it influence the process of credit creation ?
OR
Explain ‘Banker’s Bank’ function of Central Bank.
21.
Calculate
‘‘Intermediate Consumption’’ from the following data : (Set-1)
|
|
|
(₹ in crores) |
|
i.
|
Gross value of
output |
300 |
|
ii.
|
Net value
added at factor cost(NVAFC) |
100 |
|
iii.
|
Subsidies |
15 |
|
iv.
|
Depreciation |
30 |
21.
Calculate
‘‘Depreciation” from the following data :
(Set-2)
|
|
|
(₹ in crores) |
|
i.
|
Gross value of
output |
300 |
|
ii.
|
Net value
added at factor cost(NVAFC) |
100 |
|
iii.
|
Subsidies |
15 |
|
iv.
|
Intermediate
Consumption’’ |
185 |
21.
Calculate
‘‘Gross value of output” from the following data : (Set-3)
|
|
|
(₹ in crores) |
|
i.
|
Net value
added at factor cost(NVAFC) |
100 |
|
ii.
|
Depreciation |
30 |
|
iii.
|
Subsidies |
15 |
|
iv.
|
Intermediate
Consumption’’ |
185 |
22. Which of the
following items will be included/not included while estimating Gross Domestic
Product? Give valid reasons in support of your answer.
(a) Wages received by an Indian working in the British Embassy in India
(b) Financial aids
received from abroad after ‘‘Fani cyclone’’
(c) Purchase of
second-hand machinery from abroad
OR
Using numerical example,
distinguish between Real National Income and Nominal National Income.
23. (a) Distinguish between Autonomous
Transactions and Accommodating Transactions.
(b) Define the
following:
(i) Foreign
Exchange Rate
(ii) Foreign
Currency
(iii) Devaluation of Currency
24. What is Effective Demand Principle? Discuss with the help of an imaginary numerical example. (Set-1)
24. The saving
function of an economy is given as: (Set-2)
S = – 250 + 0·25 Y
If the planned investment is ₹2,000
crores, calculate the following :
(a) Equilibrium level of income
in the economy.
(b) Aggregate demand at income of ₹5,000 crores.
24. The saving
function of an economy is given as: (Set-3)
S = – 10 + 0·20 Y
If the planned investment is ₹100
crores, calculate the following :
(a) Equilibrium level of income
in the economy.
(b) Aggregate demand at income of ₹300 crores.
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