
	Trending ▼ ICSE CBSE 10th ISC CBSE 12th CTET GATE UGC NET Vestibulares ResFinder

CBSE XII Sample / Mock 2009 : ECONOMICS with Answers (Paper I)

16 pages, 48 questions, 0 questions with responses, 0 total responses,

	cbse12	+Fave Message
	Profile Timeline Uploads Q & A

Home > cbse12 > SAMPLE / MOCK Question Papers : CBSE Board Class 12 >

Instantly get Model Answers to questions on this ResPaper. Try now!
NEW ResPaper Exclusive!

Formatting page ...

ECONOMICS 1 DESIGN OF QUESTION PAPER ECONOMICS Class - XII Duration - 3 hrs. Marks - 100 1. Weightage by types of questions Type Number of questions Marks Total Estimated time a candidate is expected to take to answer Long answer questions 6 36 60 minutes Short answer questions I 6 4 24 36 Minutes Short answer questions II 10 3 30 50 Minutes Very short answer questions 2. 6 10 1 10 15 Minutes Weightage by content Unit No Unit/ Sub-Units Marks 1. Introduction 2. Consumer Behaviour and Demand 13 3. Producer Behaviour and Supply 23 4. Forms of Market and Price determination 10 5. National income and related aggregates 15 6. Determination of income and employment 12 7. Money and Banking 8 8. Government Budget and the economy 8 9. Balance of Payments 7 4 100 2 3. Difficulty level of the question paper Level % age of the total marks A. Easy (can be attempted satisfactorily by students who have gone through the study material) 30 30 B. Average (can be attempted by students who have regularly studied the study material but may not have given sufficient time to writing 50 50 C. 4. Marks Difficult (can be attempted by top students) 20 20 Scheme of Options There is no overall choice. However, there is an Internal choice in one question of 6 marks, one question of 4 marks and one question of 3 marks in each section. Thus there will be internal choice to 6 questions. 3 Sample Question Paper - I Economics Class - XII Maximum marks - 100 Time - 3 Hours. Notes : 1. All questions in both the sections are compulsory. 2. Marks for questions are indicated against each. 3. Question Nos. 1-5 and 17 - 21 are very short- answer questions carrying 1 mark each. They are required to be answered in one sentence each 4. Question Nos. 6-10 and 22-26 are short-answer questions carrying 3 marks each. Answer to them should not normally exceed 60 words each. 5. Question Nos. 11-13 and 27-29 are also short- answer questions carrying 4 marks each. Answer to them should not normally exceed 70 words each. 6. Question Nos. 14-16 and 30-32 are long-answer questions carrying 6 marks each. Answer to them should not normally exceed 100 words each.. 7. Answer should be brief and to the point and the above word limit be adhered to as far as possible. 4 Section A 1. What gives rise to an economic problem? (1) 2. Define production function . (1) 3. What happens to equilibrium price of a commodity if there is decrease in its demand and increase in its supply? 4. What induces new firms to enter an industry? (1) 5. Define cost. (1) 6. State three changes leading to the shift of demand curve of a consumer to the right. (3) 7. What will be the price elasticity of supply if the supply curve is a positively sloped straight line? (3) 8. Explain why a production possibility curve is concave. (3) OR Explain the central problem for whom to produce . 9. With the help of the table given below, find producer s equilibrium. Give reason for your answer. (3) Output (Units) 1 AC (Rs.) 20 2 40 15 3 60 12 4 80 10 5 100 12 6 10. TR (Rs.) 20 120 15 Define marginal revenue. State the relation between marginal revenue and average revenue when a firm : (i) 11. is able to sell more quantity of output at the same price. (ii) is able to sell more quantity of output only by lowering the price. From the following table calculate price elasticity of demand by the percentage method. Price of x (Rs.) (Per unit) (4) 600 5 (3) Total Expenditure (Rs.) 4 12. (3) 525 State any two features each of monopoly and monopolistic competition. OR State four features of a perfectly competitive market. 5 (4) 13. Explain the effects of a fall in prices of other goods on a commodity s equilibrium price and equilibrium quantity. Use diagram. (4) For blind candidates in lieu of Q. No. 13 Explain the effects of increase in supply of a good on its equilibrium price and equilibrium quantity with the help of a schedule. 14. Why does the different between ATC and AVC decrease with an increase in the level of output? Can these two be equal at same level of output? Explain. 15. (6) What is consumer s equilibrium? Explain the conditions of consumer s equilibrium assuming that the consumer consumes only two goods. OR What is the impact of the following on the demand curve for good X? Give reasons. (6) a. Consumer income rises and good X is a normal good b. Consumer income falls and good X is an inferior good c. Price of complementary good Y rises 16. Explain the reasons for : (i) increasing returns to a factor and (ii) increasing returns to scale. (6) Section B 17. Give meaning of involuntary unemployment. (1) 18. What is the relationship between marginal propensity to consume and marginal propensity to save? (1) 19. State any two sources of non-tax revenue receipts. (1) 20. Why is entertainment tax an indirect tax? (1) 21. What is meant by Cash Reserve Ratio? (1) 22. From the following data relating to a firm, calculate its net value added at factor cost : (Rs. in Lacs) (i) Subsidy 40 (ii) Sales 800 (iii) Depreciation 30 (iv) Exports 100 (v) 20 Closing stock (vi) Opening stock (vii) Intermediate purchases 500 (viii) Purchase of Machinery used in factory 200 (ix) Import of Raw Material 23. 50 60 (3) Can there be a fiscal deficit in a government budget without a revenue deficit? Explain. OR Distinguish between direct tax and indirect tax. Give an example of each. (3) 6 24. 25. Categorise the following government receipts into revenue and capital receipts. Give reasons for your answer. (a) Receipts from sale of shares of a public sector undertaking. (b) Borrowings from public. (c) Profits of public sector undertaking (3) Explain two causes for a fall in the supply of a foreign currency when its price in terms of domestic currency falls. (3) 26. Name any three types of deposit accounts of commercial banks and also state one of their distinguishing features. (3) 27. Distinguish between current account and capital account of balance of payment account. Is import of machinery recorded in current account or capital account? 28. State the role of central bank as a banker to the government. (3) OR Describe the following functions of money :(a) (b) 29. Medium of exchange Standard of deferred payment (4) Explain the meaning of equilibrium level of income and output with the help of saving and investment curves. (4) For blind candidates in lieu of Q. No. 29 Explain the meaning of equilibrium level of employment by saving and investment approach. 30. Why are exports included in the estimation of domestic product by the expenditure method? Can gross domestic product be greater than gross national product ? Explain (6) 31. An increase of Rs. 250 crores in investment in an economy results in income increasing by three times more than the increase in investment. Calculate the following : (6) (a) Marginal propensity to consume (b) Change in Savings (c) Change in consumption expenditure (d) Value of multiplier 7 32. From the following data calculate National Income by Income and Expenditure methods : (3, 3) (Rs crores) (i) Government final consumption expenditure (ii) Subsidies 100 10 (iii) Rent 200 (iv) Wages and salaries 655 (v) Indirect tax 60 (vi) Private final consumption expenditure 800 (vii) Gross domestic capital formation 120 (viii) Social security contributions by employees 55 (ix) Royalty 25 (x) 30 Net factor income paid to abroad (xi) Interest 20 (xii) Consumption of fixed capital 10 (xiii) Profit 130 (xiv) Net exports 70 (xv) Change in stock 50 OR Calculate Gross National Disposable Income and Personal Income from the following data : (3, 3) (Rs. Crores) (i) Personal tax 120 (ii) Net indirect tax 100 (iii) Corporation tax 90 (iv) National Income 1000 (v) Net factor income from abroad 5 (vi) Consumption of fixed capital 50 (vii) National debt interest 70 (viii) Retained earnings of private corporate sector 40 (ix) Net current transfers to the rest of the world. (-)20 (x) Current transfers from government 30 (xi) Share of government in national income 80 8 Marking Scheme 1. Scarcity of resources (1) 2. Production function is a technological relationship between physical inputs and physical output (1) 3. Equilibrium price will fall. (1) 4. Earning of above- normal profit by the existing firms. (1) 5. Cost of producing a good is the sum of actual expenditure on inputs and the imputed expenditure on the inputs supplied by the owner. (1) 6. 1. Rise in the price of the substitute good. 2. Fall in the price of complementary good. 3. Rise in income (in case of a normal good) 4. Fall in income (in case of an inferior good) 5. Increase in taste for the good. (Any three) (1x3) 7. Es = 1 if the curve starts from the origin Es> 1 if the curve starts from the y-axis E<1 if the curve starts from the x-axix 8. Downward sloping concave PP curve shows increasing Marginal Rate of Transformation (MRT) as more quantity of one good is produced by reducing quantity of the other good. This behaviour of the MRT is based on the assumption that all resources are not equally efficient in production of all goods. As more of one good is produced, less and less efficient resources have to be transferred to the production of the other good which raises marginal cost i.e. MRT. (3) OR The problem means that who will buy the goods produced ? Clearly those who have income will buy. people earn income in the form of wages, rent, interest and profit. This reduces the problem to the problem of distribution of income among people. 9. Output (Units) TR (Rs) AC (Rs) TC (Rs) (TR-TC) (Rs) Profit 1 20 20 20 0 2 40 15 30 10 3 60 12 36 24 4 80 10 40 40 5 100 12 60 40 6 120 15 90 30 9 (3) The producer is in equilibrium when 5 units of output are produced. At this level of output profits are maximum and from this level any increase in output reduces profits. 10. (1) Marginal revenue is the addition to total revenue from producing one more unit of output (1) (i) MR = AR at all the output levels (1) (ii) MR will be less than AR at all the output levels (1) Price (Rs) Total Exp. (Rs) Quantity demanded (Units) (1) 4 600 150 5 525 105 11. = Q P x Q Q = edd 45 4 x 150 1 (1) (1 ) = 1.2 12. ( ) Monopoly : (1) Only one producer (2) No freedom of entry to new firms, etc. (1x2) Monopolistic Competition (1) Large number of sellers and buyers (2) Firms produce diiferentiated products. (3) Freedom of entry and exit to firms (4) Perfect knowledge about market (any two) 1x2 OR Perfect competition : (1) Large number of sellers and buyers (2) Firms produce homegeneous product (3) Freedom of entry and exit to firm (4) Perfect knowledge about market and technology. 13. (1x4) A fall in prices of other goods results in an increase in supply of the given good. Increase in supply means more quantity supplied at the given price. Supply curve shifts to the right from S1 to S2. This creates excess supply (=E, A) at price OP. Since the firms are not able to sell what they produce, Competition among firms leading to fall in price takes place. Fall in price leads to rise in demand and fall in supply. These changes continue till price falls to OP2. OP2 is the new equilibrium price and OQ2 equilibrium quantity. (3) 10 (1) For Blind Candidates in lieu of Question No. 13 Schedule (2) Explanation (2) 14. (3) ATC is the sum of AVC and AFC. As the level of output increases AFC falls, so the difference between ATC and AVC decreases. The two cannot be equal because AFC can never be zero. AFC = TFC . Output (3) Since TFC is positive, AFC can never be zero. 15. Consumer s equilibrium means allocation of income by a consumer on goods and services in a manner that gives him maximum satisfaction. (2) The two conditions of consumer s equilibrium are : (i) Ratio of marginal utility to price in case of each good is the same i.e. MUx MUy = Px Py (ii) (2) MU of a good decreases as more of it is consumed. (2) OR 15. (i) When consumer income rises and good X is a normal good, its demand increases as a rise in income increases a consumer s ability to buy more of Good X. However, since price of good X has not changed, more is demanded at the same price - so there is a rightward shift of the demand curve of good X. (2) (ii) When consumer income falls and good X is an inferior good, its demand increases as with a fall in income, a consumer s ability to buy the normal good falls and he substitutes the normal good for the inferior good. Since, the price of good X has not changed, more is demanded at the same price - so there is aright ward shift of the demand curve of good X. (2) (iii) When the price of the complementary good rises, the demand for good X falls as both goods are required together to satisfy a want. Since, there is no change in the price of good X, less is demanded at the same price-so there is it a leftward shift of the demand curve of good X. (2) 11 16. (i) (ii) It means that TPP increases at an increasing rate and consequently MPP rises. It is due to (a) more efficient utilization of fixed input and (b) division of labour and specialisation due to increase in the quantity of variable input. (3) It means output increasing in greater proportion than the increase in all input simultaneously and in the same proportion. It is due to (a) more division of labour leading to specialisation that increases productivity and(b) use of specialized machines. Section B Q.No. (3) Marks 17. Involuntary unemployment occurs when those who are able and willing to work at the prevailing wage rate do not get work (1) 18. The sum of MPC and MPS is equal to 1. (1) 19. Income from investment made by the government, fees and fines received by the government. 20. It is an indirect tax because its burden can be shifted. 21. It is the ratio of bank deposits that the commercial banks must keep with the central bank. (1) 22. NVAfc = (ii)+(v)-(vi)-(vii)-(iii)+(i) (1) (1) = 800+20-50-500-30+40 (1 ) = Rs. 280 lakhs 23. ( x2) ( ) Yes it is possible in the following situations (i) When revenue budget is balanced and capital budget shows a deficit. (ii) When there is a surplus in the revenue budget but the deficit in capital budget is greater than this surplus (1 ) OR Direct tax is a tax in which incidence & impact is on the same person. Its burden cannot be shifted. Indirect tax is a tax where burden can be shifted. (2) Example : Direct Tax : Income Tax etc Indirect Tax : Excise duty etc 24. It is a capital receipt as it results in reduction of asset. (b) It is a capital receipt as it creates liability. (c) 25. (a) It is a revenue receipt as it neither creates a liability nor reduces any asset. ( ) ( ) (1) When price of foreign currency falls in terms of domestic currency, exports become costlier. So exports fall. Hence the supply of foreign currency falls. (1 ) It makes tourism from abroad costlier. It discourages tourism. So supply of foreign currency falls. 12 (1 ) 26. (i) Current account deposits The bank does not pay any interest on deposit in this account. Saving account deposits ( ) Interest is paid on deposits is this account. (ii) ( ) ( ) (iii) Fixed/ term deposits Interest paid on such deposits is higher than the interest paid on deposits under saving account 27. 28. ( ) ( ) In current account, transactions relating to export and import of goods and services and transfer payment are recorded. In capital account transaction relating to international purchases and sales of assets are recorded. Import of machinery is included under import of goods and so it is recorded under current account. (3) (1) The central bank acts as a banker to the government. The government keeps its cash balance with the central bank. The central bank accepts receipts and makes payments for the government. It also provides short term credit facility to the government. It also manages the public debt. It also advises the government on banking and financial matters. (4) OR (a) Money is acceptable as means of exchange. A person can sell his goods or services in exchange for money and can use this money for buying the goods and services that he needs. Thus money acts as a medium of exchange, (b) Deferred payments mean payments to be made in future. Money serves as a standard for deferred payments. Money can perform this function only if its value remains more or less stable. 29. (2) (2) The equilibrium level of income and output is that level at which planned saving and planned investment are equal. (1) (2) ss is the saving curve that shows planned saving at different levels of income. I I shows fixed level of investment as it is assumed that investment is given and is constant, OQ is the equilibrium level of income and output as at this level, planned saving and investment are equal For Blind Candidates in lieu of Question No. 29. Same as above except diagram 13 (1) 30. Expenditure method estimates expenditure on domestic product, i.e expenditure on final goods and services produced within the economic territory of the country. It includes expenditure by residents and non- residents both. Exports, though purchased by non- residents, are produced within the economic territory, and therefore, a part of domestic product. (4) Domestic product can be greater than national product if factor income paid to the rest of the world is greater than the factor income received from the rest of the world i.e. when net-factor income received from abroad is negative. (2) 31. (a) Y 1 = K= I M PS 1000 1 = 250 MPS MPS = 0.25 MPC = 0.75 So MPC = 0.75 (b) (1 ) S = Y x MPS = 1000 x 0.25 = Rs. 250 Crores (c) (1 ) C = Y x MPC = 1000x0.75 = Rs. 750 Crores Y 1 00 0 =4 = I 2 50 Income method National Income = iv + (iii + ix) + xi+xiii - x (d) 32. (1 ) K= = 600+(200+25)+20+130-30 (1) (1 ) =Rs. 1000 crores ( ) Expenditure Method National Income = vi+i+vii+xiv-v+ii-xii-x = 800+100+120+70-60+10 10 30 = Rs. 1000 Crores OR GNDI = iv+ii+vi-ix = 1000 +100 + 50 -(-20) = Rs. 1170 Crores Personal Income = (iv-xi) + (vii-ix+x)-viii-iii = 1000-80+70-(-20)+30- 40- 90 = (1 ) Rs. 910 Crores. (1) (1 ) ( ) (1) (1 ) ( ) (1) (1 ) ( ) 14 SAMPLE QUESTION PAPER-I Subject : Economics Class XII Max. Marks 100 Time : 3 hrs. QUESTION-WISE ANALYSIS S. No of question Unit/Ch. Number Marks allotted Estimated time (Minutes) Estimated Difficulty level 1 1 1 1 A 2 3 1 1 A 3 4 1 1 C 4 4 1 1 A 5 3 1 1 A 6 2 3 5 A 7 3 3 5 B 8 1 3 5 C 9 3 3 5 C 10 3 3 5 A 11 2 4 6 B 12 4 4 6 A 13 4 4 6 B 14 3 6 10 B 15 2 6 10 B 16 3 6 10 B 17 7 1 1 A 18 7 1 1 A 15 S. No of question Unit/Ch. Number Marks allotted Estimated time (Minutes) Estimated Difficulty level 19 9 1 1 A 20 9 1 1 A 21 8 1 1 A 22 6 3 5 C 23 9 3 5 B 24 9 3 5 C 25 10 3 5 B 26 8 3 5 A 27 10 4 6 A 28 8 4 6 A 29 7 4 6 B 30 6 6 10 B 31 7 6 10 C 32 6 6 10 B Reference for abbreviations Difficulty Level A Easy 30% B Average 50% C Difficult 20% 16

Formatting page ...

Additional Info : CBSE Class XII Board Solved Sample / Mock Question Paper 2009 Economics with Answers
Tags : CBSE Board 2009, Specimen Question Paper Economics, solved sample mock guess question paper, cbse class XII syllabus, cbse class 12 previous years model papers, cbse, cbse papers, cbse sample papers, cbse books, portal for cbse india, cbse question bank, central board of secondary education, cbse question papers with answers, prelims preliminary exams, pre board exam papers, cbse model test papers, solved board question papers of cbse last year, previous years solved question papers, free online cbse solved question paper, cbse syllabus, india cbse board sample questions papers, last 10 years cbse papers, cbse question papers 2017, cbse guess sample questions papers, cbse important questions, specimen / mock papers 2018.

cbse12 chat

Horizontal lines at:
Guest Horizontal lines at:
AutoRM Data:
Box geometries: