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ISC Class XII Board Exam 2018 : Economics

4 pages, 45 questions, 11 questions with responses, 11 total responses,    1    0
Princess Dragunov -_-
Holy Home School, Serampore, Hooghly
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AglaSem Schools ECONOMICS (Maximum Marks: 80) (Time allowed: Three hours) (Candidates are allowed additional 15 minutes for only reading the paper. They must NOT start writing during this time.) -------------------------------------------------------------------------------------------------------------------------Answer Question 1 (compulsory) from Part I and five questions from Part II. The intended marks for questions or parts of questions are given in brackets [ ]. -------------------------------------------------------------------------------------------------------------------------- PART I (20 Marks) Answer all questions. Question 1 Answer briefly each of the following questions (i) to (x): (i) Define deficit financing. (ii) Differentiate between Current Account and Capital Account of Balance of Payment. (iii) What is meant by price discrimination in monopoly market? (iv) Define total utility. How is marginal utility derived from total utility? (v) Explain the overdraft facility given by banks. (vi) Define implicit cost. How is it different from explicit cost? (vii) Why is price per unit equal to AR and MR under perfect competition? [10 2] (viii) Explain the meaning of the following: (a) Full employment (b) Involuntary unemployment. (ix) Explain two differences between factor income and transfer income. (x) With the help of diagrams, show how equilibrium price and quantity of a commodity are affected when: (a) Demand is perfectly elastic and supply decreases. (b) Supply is perfectly elastic and demand increases. -------------------------------------------------------------------------------------------------------------------------This paper consists of 4 printed pages. 1218-856 Turn over Copyright reserved.

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