Class -12th CBSE Economics Question paper for Examination 2015-(Code-58/1, 2, 3)-Delhi Scheme

 

Code-58/1/2/3

Revaluation-Question Paper for Examination 2015

Class XII Delhi Scheme

 

ECONOMICS

Time allowed: 3 hours                                                                  Maximum Marks: 100                             

General Instructions:

(i) All questions in both the sections are compulsory.

(ii) Marks for questions are indicated against each question.

(iii) Question Nos. 1 – 3 and 15 – 19 are very short-answer questions carrying 1 mark each. They are required to be answered in one sentence each.

(iv) Question Nos. 4 – 8 and 20 – 22 are short-answer questions carrying 3 marks each. Answers to them should normally not exceed 60 words each.

(v) Question Nos. 9 – 10 and 23 – 25 are also short-answer questions carrying 4 marks each. Answers to them should normally not exceed 70 words each.

(vi)Question Nos. 11 – 14 and 26 – 29 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.

SECTION A

(Microeconomics) 

One Mark Question

1. If Marginal Rate of Substitution is constant throughout, the Indifference curve will be: (choose the correct alternative)

(a) Parallel to the x-axis.

(b) Downward sloping concave.

(c) Downward sloping convex.

(d) Downward sloping straight line.


2. Give equation of Budget Set.

3. When income of the consumer falls the impact on price-demand curve of an inferior good is: (choose the correct alternative)

(a) Shifts to the right.

(b) Shifts to the left.

(c) There is upward movement along the curve.

(d) There is downward movement along the curve.


Three Marks Questions

4. Giving reason comment on the shape of Production Possibilities curve based on the following schedule:

 

Good (X) units

Good (Y) units

0

8

1

6

2

4

3

2

4

0

 

5. What will be the impact of recently launched 'Clean India Mission' (Swachh Bharat Mission) on the Production Possibilities curve of the economy and why?

  Or

What will likely be the impact of large scale outflow of foreign capital on Production Possibilities curve of the economy and why?


6. Explain the effects of 'maximum price ceiling' on the market of a good. Use diagram.

For the blind candidates only in lieu of Q. No. 7.

What is price ceiling? Explain the effects of maximum price ceiling.

7. There are large number of sellers in a perfectly competitive market. Explain the significance of this feature.


Four Marks Questions

9. Define cost. State the relation between marginal cost and average variable cost.

 Or

Define revenue. State the relation between marginal revenue and average revenue.

10. A consumer spends ₹ 60 on a good priced at ₹ 5 per unit. When price falls by 20 per cent, the consumer continues to spend ₹ 60 on the good. Calculate price elasticity of demand by percentage method.


Six Marks Questions

11. Market for a good is in equilibrium. The demand for the good ‘decreases’. Explain the chain of effects of this change.

 12. Why is the equality between marginal cost and marginal revenue necessary for a firm to be in equilibrium? Is it sufficient to ensure equilibrium? Explain.

13. State the different phases of changes in Total Product and Marginal Product in the Law of Variable Proportions. Also show the same in a single diagram.

For the blind candidates in lieu of Q. No. 13 only.

State, on the basis of a numerical example, different phases of changes in Total Product and Marginal Product in the Law of Variable Proportions.

14. A consumer consumes only two goods X and Y both priced at ₹ 3 per unit. If the consumer chooses a combination of these two goods with Marginal Rate of Substitution equal to 3, is the consumer in equilibrium? Give reasons. What will a rational consumer do in this situation? Explain.

Or

A consumer consumes only two goods X and Y whose prices are ₹4 and ₹5 per unit respectively. If the consumer chooses a combination of the two goods with marginal utility of X equal to 5 and that of Y equal to 4, is the consumer in equilibrium? Give reasons. What will a rational consumer do in this situation? Use utility analysis.


SECTION B

                                             (Macroeconomicss) 

One Mark Question

15. Borrowing in government budget is: (choose the correct alternative)

(a) Revenue deficit

(b) Fiscal deficit

(c) Primary deficit

(d) Deficit in taxes

16. What is 'aggregate supply' in macroeconomics?

17. The value of multiplier is (choose the correct alternative)






18. Other things remaining unchanged, when in a country the price of foreign currency rises, national income is: (choose the correct alternative)

(a) Likely to rise

(b) Likely to fall

(c) Likely to rise and fall both

(d) Not affected

19. The non-tax revenue in the following is: (choose the correct alternative)

(a) Export duty

(b) Import duty

(c) Dividends

(d) Excise


Three Marks Questions

20. Where will sale of machinery to abroad be recorded in the Balance of Payments Accounts? Give reasons.

21. If the Nominal GDP is ₹1200 and Price Index (with base = 100) is 120, calculate Real GDP.

22. Name the broad categories of transactions recorded in the 'capital account' of the Balance of Payments Accounts.

Or

Name the broad categories of transactions recorded in the 'current account' of the Balance of Payments Accounts.

Four Marks Questions

23. An economy is in equilibrium. Find' autonomous consumption' from the following:

National income = 1000

Marginal propensity to consume = 0.8

Investment expenditure = 100

24. Explain the 'bank of issue' function of the central bank.

Or

    Explain 'Government's Bank' function of central bank.

25. Government of India has recently launched 'Jan-Dhan Yojna' aimed at every household in the country to have at least one bank account. Explain how deposits made under the plan are going to affect national income of the country.

Six Marks Questions

26. Explain the role the government can play through the budget in influencing allocation of resources.

27. Giving reason explain how should the following be treated in estimation of national income:

(i) Expenditure by a firm on payment of fees to a chartered accountant

(ii) Payment of corporate tax by a firm

(iii) Purchase of refrigerator by a firm for own use

28. Explain the concept of Inflationary Gap. Explain the role of Repo Rate in reducing this gap.

Or

Explain the concept of Deflationary Gap and the role of 'Open Market Operations' in reducing this gap.

29.  Calculate 'Gross National Product at Market Price' and 'Net National Disposable Income’:


S.No.

Particulars

Amount in

  ( ₹ crores)

 

         1.

Rent

100

         2.

Net current transfers to abroad

30

         3.

Social security contributions by employers

47

         4.

Mixed Income

600

         5.

Gross Domestic Capital Formation

140

         6.

Royalty

20

         7.

Interest

110

         8.

Compensation of employees

500

         9.

Net domestic capital formation

120

     10. 

Net factor income to abroad

(-)10

     11.   

Net direct tax

150

    12.   

Profit

200


Note:

The above question paper for CBSE Class- 12th Revaluation Economics 2015- Code 58/1/2/3 - Delhi Scheme combines the questions from all three sets so as to make it easy for the students to understand and analyze all the questions while preparing for their  Board Examination. 

Original pdf. of Class XII  Revaluation Question Paper for Examination 2015- Code 58/1/2/3- Delhi Scheme is also available on   https://www.cbse.gov.in/cbsenew/question-paper.html 

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