CBSE Class 12 Economics Full Study Material

Scroll down to download pdf file

CBSE Assignment  for Class XII Economics. Prepared by teachers of one of the best CBSE schools in Delhi. Based on CBSE and CCE guidelines. The students should practice these assignments to gain perfection which will help him to get more marks in CBSE examination.

Questions for revision

1. Define scarcity.

Ans : - Scarcity means shortage of resources in relation to their demand is called scarcity.

2. What is an economy?

Ans : - An economy is a system by which people get their living.

3. Define central problem.

Ans : - Central problem is concerned with the problems of choice (or) the problem of resource allocation.

4. Give one reason which gives rise to economic problems?

Ans : - Scarcity of resources which have alternative uses.

5. Name the three central problems of an economy.

Ans : - i) What to produce?

           ii) How to produce?

           iii) For whom to produce?

6. What is opportunity cost?

Ans: - It is the cost of next best alternative foregone.

7. Why is there a need for economizing of resources?

Ans: - Resources are scarce in comparison to their demand, therefore it is necessary to use resources in the best possible manner without wasting it.

8. What is production possibility frontier?

Ans: - It is a boundary line which shows the various combinations of two goods which can be produced with the help of given resources and technology.

9. Why PPC is concave to the origin? 

Ans :- PPC is concave to the origin because of increased marginal opportunity cost.

10. Define marginal rate of transformation.

Ans :- MRT is the ratio of units of one good sacrificed to produce one more unit of other goods. MRT = Δy / Δx

11. What does a point inside the PPC indicate?

Ans :- Any point inside the production possibility curve indicate underutilization of resources


Please refer to attached file for CBSE Class 12 Economics Full Study Material

Tags: 

Click on the text For more study material for Economics please click here - Economics

Latest CBSE News

  • Class 10 and class 12 board examination students can now air their concerns regarding the questions which will come in the board examinations directly to CBSE. A latest announcement has come from CBSE which states that an observation schedule will be developed by CBSE according to which the students or schools or even teachers can send their concerns to CBSE within 24 hours of the board exam...
  • As the exams are approaching PM Mr Narendra Modi has given a motivating message to students and has also launched a book which will help the students to beat stress and be a warrior and score good marks in the upcoming examinations. Watch Video here..
  • A strange question appeared in the mathematics paper for Primary school students of grade 5 at a school in the Chinese district of Shunqing The question was: "If a ship had 26 sheep and 10 goats on board, how old is the ship's captain?" This question has gone viral on the internet with parents trying to guess the correct answer. Most think that this question was a mistake but the education...
  • The debate to reduce the syllabus of all classes has heated up post comments by Delhi Deputy Chief Minister Manish Sisodia. He suggested that all state boards including CBSE and NCERT should reduce syllabus for all classes so that quality education instead of quantity education can be given to students. These are very valid comments after long by a minister as the students these days are burdened...
  • National achievement survey (NAS) for Class 10 will beheld by the national council for educational research and training (NCERT), New Delhi on 5th February for students in almost 360 government schools across Goa. The NAS test will be conducted for mathematics, English, social sciences, science and modern Indian languages. The test will be held in school premises and will be invigilated by the...