(i) All questions in both sections are compulsory. However, there is internal choice in some questions.
(ii) Marks for questions are indicated against each question.
(iii) Question No.1-5 and 16-20 are very short answer questions carrying 1 mark each. They are required to be answered in one sentence.
(iv) Question No.6-8 and 21-23 are short answer questions carrying 3 marks each. Answers to them should not normally exceed 60 words each.
(v) Question No.9-11 and 24-26 are also short answer questions carrying 4 marks each. Answers to them should not normally exceed 70 words each.
(vi) Question No.12-15 and 27-30 are long answer questions carrying 6 marks each. Answers to them should not normally exceed 100 words each.
(vii) Answers should be brief and to the point and the above word limit be adhered to as far as possible.
- Q1VIEW SOLUTION
- Q2VIEW SOLUTION
- Q3VIEW SOLUTION
The demand of a commodity when measured through the expenditure approach is inelastic. A fall in its price will result in : (choose the correct alternative) (1)VIEW SOLUTION
(a) no change in expenditure on it.
(b) increase in expenditure on it.
(c) decrease in expenditure on it.
(d) any one of the above.
As we move along a downward sloping straight line demand curve from left to right, price elasticity of demand : (choose the correct alternative) (1)VIEW SOLUTION
(a) remains unchanged
(b) goes on falling
(c) goes on rising
(d) falls initially then rises
- Q6VIEW SOLUTION
Show that demand of a commodity is inversely related to its price. (3)
Explain with the help of utility analysis.
Why is an indifference curve negatively sloped? Explain. VIEW SOLUTION
- Q8VIEW SOLUTION
- Q9VIEW SOLUTION
- Q10VIEW SOLUTION
State different phases of the law of variable proportions on the basis to total product. Use diagram. (4)
Explain the geometric method of measuring price elasticity of supply. Use diagram. VIEW SOLUTION
Given below is the cost schedule of a product produced by a firm. The market price per unit of the product at all levels of output is Rs. 12. Using marginal cost and marginal revenue approach, find out the level of equalibrium output. Give reasons for your answer: (6)
Output (Units) 1 2 3 4 5 6 Average Cost (Rs.) 12 11 10 10 10.4 11
When price of a commodity X falls by 10 per cent, its demand rises from 150 units to 180 units. Calculate is price elasticity of demand. How much should be the percentage fall in its price so that its demand rises from 150 to 210 units? (6)VIEW SOLUTION
X and Y are complementary goods. The price of Y falls. Explain the chain of effects of this change in the market of X.
Explain the chain of effect of excess demand of a good on it equilibrium price. (6) VIEW SOLUTION
Complete the following table : (6)
Output units Total cost Rs. Average variable cost Rs. Marginal cost Rs. Average fixed cost Rs. 0 30 1 ... ... 20 ... 2 68 ... ... ... 3 84 18 ... ... 4 ... ... 18 ... 5 125 19 ... 6
- Q16VIEW SOLUTION
- Q17VIEW SOLUTION
The ratio of total deposits that a commercial bank has to keep with Reserve Bank of India is called : (choose the correct alternative) (1)VIEW SOLUTION
(a) Statutory liquidity ratio
(b) Deposit ratio
(c) Cash reserve ratio
(d) Legal reserve ratio
- Q19VIEW SOLUTION
Aggregate demand can be increased by : (choose the correct alternative) (1)VIEW SOLUTION
(a) increasing bank rate
(b) selling government securities by Reserve Bank of India
(c) increasing cash reserve ratio
(d) none of the above
- Q21VIEW SOLUTION
- Q22VIEW SOLUTION
Explain the store of value function of money. (3)
State the meaning and components of money supply. VIEW SOLUTION
Explain 'banker to the government' function of the central bank. (4)
Explain the role of reverse repo rate in controlling money supply. VIEW SOLUTION
- Q25VIEW SOLUTION
An economy is in equilibrium. From the following data about an economy, calculate investment expenditure: (4)VIEW SOLUTION
(i) Income = 10000
(ii) Marginal propensity to consume = 0.9
(iii) Autonomous consumption = 100
- Q27VIEW SOLUTION
- Q28VIEW SOLUTION
Calculate (a) national income (b) net national disposable income: (6)
Rs. in crores (i) Net factor income to abroad (–) 50 (ii) Net indirect taxes 800 (iii) Net current transfers from rest of the world 100 (iv) Net imports 200 (v) Private final consumption expenditure 5000 (vi) Government final consumption expenditure 3000 (vii) Gross domestic capital formation 1000 (viii) Consumption of fixed capital 150 (ix) Change in stock (–) 50 (x) Mixed income 4000 (xi) Scholarship to students 80
Explain 'non-monetary exchanges' as a limitation of using gross domestic product as an index of welfare of a country. (6)
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
(a) Profits earned by branches of country's bank in other countries
(b) Gifts given by an employer to his employees on independence day
(c) Purchase of goods by foreign tourists VIEW SOLUTION
Board Papers 2014, Board Paper Solutions 2014, Sample Papers for CBSE Board, CBSE Boards Previous Years Question Paper, Board Exam Solutions 2014, Board Exams Solutions Maths, Board Exams Solutions English, Board Exams Solutions Hindi, Board Exams Solutions Physics, Board Exams Solutions Chemistry, Board Exams Solutions Biology, Board Exams Solutions Economics, Board Exams Solutions Business Studies, Maths Board Papers Solutions, Science Board Paper Solutions, Economics Board Paper Solutions, English Board Papers Solutions, Physics Board Paper Solutions, Chemistry Board Paper Solutions, Hindi Board Paper Solutions, Political Science Board Paper Solutions, Answers of Previous Year Board Papers, Delhi Board Paper Solutions, All India Board Papers Solutions, Abroad/Foreign Board Paper Solutions, cbse class 12 board papers, Cbse board papers with solutions, CBSE solved Board Papers, ssc board papers.