CBSE Class 12 Economics - Micro Economics

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CBSE Class 12 Economics - Micro Economics

 

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INTERNATIONAL INDIAN SCHOOL, RIYADH

WORKSHEET (FIRST TERM) 2014

ECONOMICS-GRADE 12

MICRO ECONOMICS

1. Why production possibility curve is concave to origin?

2. Explain the central problem of what to produce?

3. What is the root cause of all economic problem?

4. Define demand.

5. Explain consumer’s equilibrium in case of single commodity using utility approach.

6. Distinguish between change in demand and change in quantity demanded.

7. What are factors affecting demand?

8. What are factors affecting elasticity of demand?

9. Write properties of indifference curve.

10. Explain Marginal rate of substitution with the help of schedule and diagram.

11. What is slope of budget line?

12. Distinguish between market demand and individual demand.

13. Explain the law of diminishing marginal utility.

14. The quantity demanded of a commodity at a price of Rs.8 per unit is 600 units. Its price falls by 25 percent and quantity demanded rises by 120 units. Calculate its price elasticity of demand.

15. Explain with the help of diagram the effect of following changes on the demand of a commodity.

i) A fall in the price of substitute good.

ii) A fall in the income of buyer if the good is inferior.

16. Explain three factors which lead to increase in demand.

17. Distinguish between inferior good and normal good.

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