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CBSE Class 12 Board Exam 2019 : Economics (Series 4)

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SET-1 H$moS> Z . Series BVM/4 Code No. amob Z . 58/4/1 narjmWu H$moS >H$mo C ma-nwp VH$m Ho$ _wI-n >na Ad ` {bIo & Roll No. Candidates must write the Code on the title page of the answer-book. H $n`m Om M H$a b| {H$ Bg Z-n _o _w{ V n > 15 h & Z-n _| Xm{hZo hmW H$s Amoa {XE JE H$moS >Z ~a H$mo N>m C ma -nwp VH$m Ho$ _wI-n > na {bI| & H $n`m Om M H$a b| {H$ Bg Z-n _| >24 Z h & H $n`m Z H$m C ma {bIZm ew $ H$aZo go nhbo, Z H$m H $_m H$ Ad ` {bI| & Bg Z-n H$mo n T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h & Z-n H$m {dVaU nydm _| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>m Ho$db Z-n H$mo n T>|Jo Am a Bg Ad{Y Ho$ Xm amZ do C ma-nwp VH$m na H$moB C ma Zht {bI|Jo & Please check that this question paper contains 15 printed pages. Code number given on the right hand side of the question paper should be written on the title page of the answer-book by the candidate. Please check that this question paper contains 24 questions. Please write down the Serial Number of the question before attempting it. 15 minute time has been allotted to read this question paper. The question paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the students will read the question paper only and will not write any answer on the answer-book during this period. AW em ECONOMICS {ZYm [aV g_` : 3 K Q>o A{YH$V_ A H$ : 80 Time allowed : 3 hours 58/4/1 Maximum Marks : 80 1 P.T.O. gm_m ` {ZX}e : (i) XmoZm| I S>m| Ho$ g^r Z A{Zdm` h & (ii) `oH$ Z Ho$ {ZYm [aV A H$ CgHo$ gm_Zo {XE JE h & (iii) Z g `m 1 4 VWm 13 16 A{V bKy mam _H$ Z h , {OZ_| `oH$ H$m 1 A H$ h & BZH$m `oH$ H$m C ma EH$ dm ` _| hr Ano{jV h & (iv) Z g `m 5 6 Am a 17 18 bKy mam _H$ Z h , {OZ_| `oH$ Ho$ 3 A H$ h & `oH$ H$m C ma gm_m `V 60 e Xm| go A{YH$ Zht hmoZm Mm{hE & (v) Z g `m 7 9 Am a 19 21 ^r bKy mam _H$ Z h , {OZ_| `oH$ Ho$ 4 A H$ h & `oH$ H$m C ma gm_m `V 70 e Xm| go A{YH$ Zht hmoZm Mm{hE & (vi) Z g `m 10 12 Am a 22 24 XrK C mam _H$ Z h , {OZ_| `oH$ Ho$ 6 A H$ h & `oH$ H$m C ma gm_m `V 100 e Xm| go A{YH$ Zht hmoZm Mm{hE & (vii) C ma g {j V VWm V `m _H$ hmoZo Mm{hE VWm `Wmg ^d D$na Xr JB e X gr_m Ho$ A VJ V hr {XE OmZo Mm{hE & General Instructions : (i) All questions in both the 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. 58/4/1 2 I S> A ( `{ Q> AW em ) SECTION A (MICROECONOMICS) 1. nyU {V mo{JVm | Am gV g m{ V dH $ H$m AmH$ma ([a $ WmZ H$s ny{V H$a|) _________ hmoJm 1 & The shape of the average revenue curve under perfect competition would be _________ . (Fill up the blank) 2. {XE JE {M |, C nmXZ g ^mdZm dH $ X1Y1 na q~X A go {IgH$md _________ Xem Vm h : (Cn`w $ {dH$ n H$m M`Z H$a|) (H$) (I) (J) (K) g gmYZm| g gmYZm| g gmYZm| g gmYZm| X2Y2 na q~X B H$m 1 | H$ r | d { H$m nyU d Hw$eb moJ H$m An AWdm `{X n[adV Z H$s gr_m V Xa ___________ hmo, Vmo C nmXZ g ^mdZm dH $ _yb-{~ X Ho$ C mb hmoJm & ([a $ WmZ H$s ny{V H$a|) 58/4/1 3 1 P.T.O. Shift from Point A on Production Possibility Curve X1Y1 to Point B on X2Y2 in the given figure indicates : (Choose the correct alternative) (a) Decrease in resources (b) Increase in resources (c) Full and efficient utilisation of resources (d) Wastage of resources OR A Production Possibility Curve (PPC) would be convex to the origin if Marginal Rate of Transformation (MRT) is ________ . (Fill up the blank) 3. {H$gr $ H$s {H$ ht Xmo A V{Z {hV bmJVm| Ho$ CXmhaUm| H$m C oI H$s{OE & AWdm 1 n[adVu bmJV H$mo n[a^m{fV H$a| & 1 Mention any two examples of implicit cost incurred by a firm. OR Define variable cost. 58/4/1 4 4. EH$ d Vw H$s ny{V H$s H$s V bmoM H$m JwUm H$ (Cn`w $ {dH$ n H$m M`Z H$a|) (H$) (I) (J) (K) 3 h & Bgo _________ H$hm OmVm h & 1 BH$mB Ho$ ~am~a bmoMXma ny{V nyU V: ~obmoMXma ny{V bmoMXma ny{V ~obmoMXma ny{V The coefficient of price elasticity of supply of a good is 3. It is known as ___________ . (Choose the correct alternative) 5. (a) Unitary Elastic Supply (b) Perfectly Inelastic Supply (c) Elastic Supply (d) Inelastic Supply H $go C nmXZ {H$ m OmE H$s Ho$ r g m na g jon | MMm H$s{OE & 3 AWdm {Z Z{b{IV H$WZm| H$mo, C{MV H$maUm| g{hV gH$mam H$ AW em m AmXe H$ AW em | dJuH $V H$s{OE : (H$) {H$gr Xoe Ho$ Ho$ r ~ H$ H$s dm mVm H$mZyZ Ho$ AZwgma ~Zr ahZr Mm{hE & (I) m { H$ gH$b Kaoby C nmX (GDP) H$s JUZm Mmby df Ho$ y m| na H$s OmVr h & 3 Discuss briefly the central problem of How to produce . OR Classify the following statements into positive economics or normative economics, with suitable reasons : (a) The autonomy of the central bank of a country should be maintained as per the law. (b) Nominal Gross Domestic Product (GDP) is calculated on the basis of current year prices . 58/4/1 5 P.T.O. 6. EH$ H$m n{ZH$ AZwgyMr H$m moJ H$aVo h E, Hw$b Cn mo{JVm VWm gr m V Cn mo{JVm Ho$ ~rM g ~ Y H$s MMm H$s{OE & 3 Discuss the relationship between total utility and marginal utility, using a hypothetical schedule. 7. Xr JB AZwgyMr H$s ghm Vm go, gr m V g m{ V gr m V bmJV {d{Y mam $ Ho$ g VwbZ H$m {ZYm aU H$s{OE & AnZo C ma Ho$ g W Z | Cn w V H$maU Xr{OE & C nmXZ (BH$mB m| |) Hw$b g m{ V (TR) (< |) Hw$b bmJV (TC) (< |) 1 20 20 2 40 30 3 60 36 4 80 40 5 100 60 6 120 90 With the help of the given schedule, determine the firm s equilibrium using marginal revenue marginal cost approach. Give valid reasons in support of your answer. 58/4/1 Output (in units) Total Revenue (TR) (in <) Total Cost (TC) (in <) 1 20 20 2 40 30 3 60 36 4 80 40 5 100 60 6 120 90 6 4 8. {H$gr d Vw H$m y < 10 go ~ T>H$a < 14 hmo OmVm h & {X m J H$s H$s V bmoM H$m JwUm H$ ( ) 1 25 h , Vmo d Vw H$s m Jr JB m m | {VeV H$ r H$s JUZm H$s{OE & 4 AWdm {Z Z{b{IV H$WZm| | go H$m Z-gm ghr m JbV h H$maU Xr{OE & 4 ? AnZo C ma Ho$ g W Z | Cn w V (H$) d Vw H$s m J H$s H$s V bmoM Ho$ JwUm H$ H$m, Cg d Vw Ho$ d H$p nH$ `moJm| H$s g `m go G Um _H$ g ~ Y hmoVm h & (I) {dbm{gVm H$s d VwAm| H$s m J H$s H$s V bmoM m : H$ hmoVr h & The price of a commodity increases from < 10 to < 14. Calculate percentage fall in quantity demanded of the commodity if coefficient of price elasticity of demand is ( ) 1 25. OR State whether the following statements are true or false. Give valid reasons in support of your answer. 9. (a) The coefficient of price elasticity of demand for the commodity is inversely related to the number of alternative uses of the commodity. (b) Luxury goods often have lower price elasticity of demand. Cn w V CXmhaUm| H$s ghm`Vm go H$s V {d^oX VWm d Vw {d^oXrH$aU Ho$ AW H$s g jon | MMm H$s{OE & 4 AWdm nyU {V`mo{JVm Ho$ A VJ V EH$ \$_ H$s_V- drH$maH$ hmoVr h `m H$s_V-{ZYm aH$ C ma H$s nw{ > H$s{OE & ? AnZo 4 Discuss briefly the meaning of Price discrimination and Product differentiation with the help of suitable examples. OR Is a firm under perfect competition a price taker, or a price maker ? Justify your answer. 58/4/1 7 P.T.O. 10. mZ br{OE {H$ EH$ Cn^mo Vm {OgH$m ~OQ> < 500 h , m Xmo d VwE , d Vw X VWm d Vw Y H$m Cn^moJ H$aZm MmhVr h & d VwAm| H$s H$s V H $ e: < 50 Am a < 25 h & Xr JB gyMZm Ho$ AmYma na {Z Z{b{IV Zm| Ho$ C ma Xr{OE : (H$) Cn^mo Vm H$m ~OQ> g rH$aU {b{IE & (I) ~OQ> aoIm H$s dUVm m h 500, ? d Vw X (J) {X dh g nyU < nm oJr ? na H$aVr h , Vmo {H$VZr BH$mB m H $ H$a (K) {X d Vw Y H$s H$s V X JwZr hmo OmE VWm dh g nyU < H$aVr h , Vmo {H$VZr BH$mB m H $ H$a nm oJr ? 500 d Vw Y na 1+1+2+2 AWdm EH$ Cn^mo Vm H$mo g VwbZ Ad Wm | hmoZo Ho$ {bE, gr m V {V WmnZ Xa H$mo BZ Xmo d VwAm| H$s H$s Vm| Ho$ AZwnmV Ho$ ~am~a hmoZm Mm{hE & m Amn {XE JE H$WZ H$m g W Z H$aVo h ? AnZo C ma H$mo {g H$s{OE & Suppose a consumer whose budget is < 500, wants to consume only two goods, Good X and Good Y. The goods are respectively priced at < 50 and < 25. Answer the following questions on the basis of the given information : (a) State the budget equation of the consumer. (b) What is the slope of the budget line ? (c) How many units can she purchase if she spends the entire < 500 on Good X ? (d) How many units can she purchase if she spends the entire < 500 on Good Y, given that the price of good Y has doubled ? OR For a consumer to be in equilibrium position, marginal rate of substitution between the two goods must be equal to ratio of prices of the two goods. Do you agree with the given statement ? Justify your answer. 58/4/1 8 6 11. (H$) {Z Z{b{IV H$WZ | {XE JE ~m Oma $n H$s nhMmZ H$s{OE VWm g ~ {YV d {e Q > H$s `m `m H$s{OE : Bg ~m Oma |, d Vw Ho$ g^r JwU H o$VmAm| Am a {dH o$VmAm| Ho$ {bE g $n hmoVo h & (I) yZV {ZYm [aV H$s_V H$mo n[a^m{fV H$s{OE & gaH$ma mam {H$E JE h Vjon Ho $ g ^m{dV n[aUm H$m C oI H$s{OE & (a) 3+3 Identify the market form and explain the corresponding feature, as given in the following statement : The commodity in this market has attributes which are identical for sellers and buyers. (b) Define Price Floor. State the likely consequence of this type of intervention by the government. 12. (H$) A nH$mb | gr m V bmJV dH $ U-AmH$ma H$m m| hmoVm h (I) Am gV bmJV (AC) dH $ VWm gr m V bmJV `m `m H$s{OE & (MC) ? dH $ Ho$ ~rM g ~ Y H$s g{M 2+4 (a) Why is the short run Marginal Cost curve U-shaped ? (b) Explain the relation between Average Cost (AC) curve and Marginal Cost (MC) curve using diagram. ZmoQ> : {Z Z{b{IV Z Ho$db { >~m{YV narjm{W `m| Ho$ {bE, Z g `m WmZ na h : Note : The following question is for the Visually Impaired Candidates only, in lieu of Q. No. 12(b) : Am gV bmJV (AC) VWm gr m V bmJV (MC) 12(I) Ho$ Ho$ ~rM g ~ Y H$s `m `m H$s{OE & Explain the relation between Average Cost (AC) and Marginal Cost (MC). 58/4/1 9 P.T.O. I S> ~ (g_{ Q> AW em ) SECTION B (MACROECONOMICS) 13. m J O m H$mo n[a^m{fV H$s{OE & 1 Define demand deposits . 14. gaH$ma H$s {H$ ht Xmo J a-H$a amO d m{ V m| Ho$ CXmhaU Xr{OE & 1 AWdm gmd O{ZH$ jo Ho$ CnH $ m| (PSUs) go m V bm^m e, gaH$ma Ho$ {bE ^mJ hmoVm h & (ghr {dH$ n H$m M`Z H$a|) _________ H$m (H$) J a-H$a amO d m{ V m| (I) H$a m{ V m| (J) ny OrJV m{ V m| (K) ny OrJV State any two examples of non-tax revenue receipts of the government. OR Dividends received from Public Sector Undertakings (PSUs) are a part of the government s ____________ . (Choose the correct alternative) (a) Non-tax Revenue Receipts (b) Tax Receipts (c) Capital Receipts (d) Capital Expenditure 58/4/1 10 1 15. A {V G$UXmVm Ho$ $n | Ho$ r ~ H$ mam {Z^mB OmZo dmbr ^y{ H$m H$m C oI H$s{OE & 1 State the role played by the central bank as the lender of last resort . 16. mZ br{OE {H$ Amn ^maV Ho$ {d m r H$s gbmhH$ma g{ {V Ho$ EH$ gX h & {d m r ~OQ> _| ~ T>Vo h E amO d KmQ>o Ho$ g X^ | qM{VV h & gaH$ma Ho$ ~ T>Vo h E amO d KmQ>o H$mo {Z U | bmZo Ho$ {bE H$moB EH$ Cnm gwPmBE & 1 Suppose you are a member of the Advisory Committee to the Finance Minister of India . The Finance Minister is concerned about the rising Revenue Deficit in the budget. Suggest any one measure to control the rising Revenue Deficit of the government. 17. {H$gr AW d Wm H$m Cn^moJ $bZ h : C = 40 + 0 8 Y (am{e < H$amo S> |) & Am Ho$ Cg Va H$m {ZYm aU H$s{OE {Og na Am gV Cn^moJ d { m BH$mB Ho$ ~am~a hmo & 3 AWdm Am gV Cn^moJ d { m m Am gV ~MV d { m, XmoZm| | go H$m Z G$Um H$ hmo gH$Vm h VWm m| ? 3 The consumption function of an economy is : C = 40 + 0 8 Y (amount in < crores). Determine that level of income where average propensity to consume will be one. OR Which of the two, average propensity to consume or average propensity to save, can be negative and why ? 58/4/1 11 P.T.O. 18. `m{eV ~MV Ho$ `m{eV {Zdoe go H$ hmoZo na, AW d Wm | hmoZo dmbo g m moOZm| H$m dU Z H$s{OE & 3 Describe the adjustments that may take place in an economy when ex-ante savings are less than ex-ante investments. 19. EH$ g m H$ CXmhaU H$m moJ H$aVo h E, g PmBE, Ama{jV O m AZwnmV | d { hmoZo 4 go ~ qH$J Umbr H$s gmI g OZ j Vm {H$g H$ma ^m{dV hmoVr h & Explain, using a numerical example, how an increase in reserve deposit ratio affects the credit creation power of the banking system. 20. dm V{dH$ gH$b Kaoby C nmX {H$g H$ma m { H$ gH$b Kaoby C nmX go {^ h ? EH$ g m H$ CXmhaU g{hV m m H$s{OE & 4 How is Real Gross Domestic Product (GDP) different from Nominal Gross Domestic Product (GDP) ? Explain using a numerical example. 21. AW d Wm | {H$g H$ma gaH$ma ~OQ>r Zr{V H$m moJ H$aHo$ Am H$s Ag mZVm H$mo H$ H$a gH$Vr h ? g PmBE & 4 AWdm AW d Wm | g gmYZm| Ho$ Am~ Q>Z H$mo ^m{dV H$aZo | gaH$mar ~OQ> H$s ^y{ H$m H$s g jon _| MMm H$s{OE & Explain how the government can use the budgetary policy in reducing inequality of income in the economy. OR Discuss briefly the role of the government budget in influencing allocation of resources in the economy. 58/4/1 12 4 22. H$s g Ho$ amo OJma {g m V | ^mdr m J {g m V H$m m AW h ? AZwgyMr AWdm {M 6 H$s ghm Vm go MMm H$s{OE & What is meant by the Effective Demand Principle in Keynesian theory of employment ? Discuss using a schedule or a diagram. 23. (H$) {dXoem| go m V {Zdb gmYZ Am H$mo n[a^m{fV H$s{OE & h {H$g H$ma {Zdb {Z m V go {^ h ? (I) {Z Z{b{IV Am H$ S>m| go {H$am m Ho$ y H$s JUZm H$s{OE 3+3 am{e (< H$amo S> |) H $.g . {ddaU (i) ~m Oma H$s V na gH$b Kaoby C nmX (ii) d-{Z`mo{OV H$s { {lV Am (iii) CnXmZ 250 (iv) mO 800 (v) {H$am m (vi) bm^ (vii) H$ Mm[a m| H$m nm[al{ H$ 6,000 (viii) p Wa n yOr H$m Cn^moJ 1,000 A j H$a 2,000 (ix) 58/4/1 : 18,000 7,000 ? 975 13 P.T.O. (a) Define net factor income from abroad . How is it different from net exports ? (b) Calculate the value of Rent from the following data : Amount (< in Crores) S. No. Particulars (i) Gross Domestic Product at Market Price (ii) Mixed Income of Self-Employed (iii) Subsidies 250 (iv) Interest 800 (v) Rent (vi) Profit (vii) Compensation of Employees 6,000 (viii) Consumption of Fixed Capital 1,000 Indirect Tax 2,000 (ix) 24. 18,000 7,000 ? 975 (H$) {dXoer w m Ho$ A Vdm h Ho$ {bE C maXm r {H$ ht Xmo H$maH$m| H$m C oI H$s{OE & (I) {Z Z{b{IV boZ-XoZ ny Or ImVo/Mmby ImVo Ho$ {H$g nj | {bIo OmE Jo VWm m| (i) Zonmb go m V G$U na mO (ii) MrZ go mo~mBb $moZm| H$m Am mV : 2+4 AWdm (H$) ^wJVmZ g VwbZ ImVo | dm m boZ-XoZ VWm g_ OZ boZ-XoZ Ho$ ~rM A Va n Q> H$s{OE & (I) w m | y mg VWm _w m _| Ad y Z | A Va n Q> H$s{OE & 58/4/1 14 4+2 (a) State any two factors responsible for inflow of foreign currency. (b) State on which side of capital account/current account will the following transactions be recorded and why : (i) Interest on loan received from Nepal (ii) Import of mobile phones from China OR (a) Distinguish between Autonomous and Accommodating transactions of Balance of Payments account. (b) Distinguish between depreciation of a currency and devaluation of a currency. 58/4/1 15 P.T.O.

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