CBSE Class 12 Economics Question Paper 2007 (3)

CBSE Economics Question Paper for Class 12 CBSE exams for CBSE Students. Based on CBSE and CCE guidelines. The students should practice these Question Papers to gain perfection which will help him to get more marks in CBSE examination. Please refer to more CBSE Class 12 question papers in other links. The CBSE Question papers are prepared based on trend in past examinations and expected questions in CBSE exams. Its always recommended by CBSE to practice the papers released by CBSE to get better exams in CBSE exams. CBSE Last Year Question Papers for class 12 for final/ term/ SA1/ SA2 Examinations conducted by Central Board of Secondary Education for all CBSE affiliated schools in India and abroad. Please refer to more CBSE Class XII sample papers, question papers, HOTs etc in other links.


Note :

  (i) All questions in both the sections are compulsory,

  (ii) Marks for questions are indicated against each.

  (iii) Questions No. 1 and 13 are very short-answer questions carrying 1 mark for each part. They are required to be answered in one sentence each.

  (iv) Questions No. 2-5 and 14-17 are short-answer questions carrying 3 marks each. Answers to them should normally not exceed 60 words each.

  (v) Questions No. 6-9 and 18 -21 are also short-answer questions carrying 4 marks each. Answers to them should normally not exceed 70 words each.

  (vi) Questions No. 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.

  (viii) All parts of a question should be answered at one place.


1. Answer the following questions : 

   (i) Define marginal opportunity cost.

   (ii) Why is a production possibility curve concave ?

   (iii) State two characteristics of resources which give rise to an economic problem.

   (iv) Give two examples of microeconomic studies

2. Give meaning of (i) demand, (ii) normal good and (iii) inferior good. 

3. Explain the effect of ‘input price changes’ on the supply of a good. 

4. Explain the relation between marginal revenue and average revenue.

5. Draw Average Total Cost, Average Variable Cost and Marginal Cost curves in a single diagram.

6. Price of a good rises from Rs. 10 per unit to Rs. 11 per unit. As a result quantity demanded of that good falls by 10 percent. Calculate its price elasticity of demand.

7. Give meanings of (i) marginal physical product, (ii) fixed cost, (iii) variable cost, and (iv) total revenue.

8. How is the equilibrium price of a good determined ? Explain with the help of diagram a situation when both demand and supply curves shift to the right but equilibrium price remains the same.

9. Explain the term ‘change in demand’ and represent the same graphically. Also state three factors responsible for ‘change in demand’.

10. Distinguish between ‘returns to a factor’ and ‘returns to scale’. Explain briefly returns to scale by giving numerical examples

11. Answer the following questions : 

     (i) What is macroeconomics ?

     (ii) Give two examples of macroeconomic studies.

     (iii) What is balance of trade ?

     (iv) Give meaning of balance of payments.

Please refer to attached file for CBSE Class 12 Economics Question Paper 2007 (3)

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