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Access Production Possibility Curve Practice Papers and Solutions
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CBSE Class 12 Economics Production Possibility Curve. CBSE issues sample papers every year for students for class 12 board exams. Students should solve the CBSE issued sample papers to understand the pattern of the question paper which will come in class 12 board exams this year. The sample papers have been provided with marking scheme. It’s always recommended to practice as many CBSE sample papers as possible before the board examinations. Sample papers should be always practiced in examination condition at home or school and the student should show the answers to teachers for checking or compare with the answers provided. Students can download the sample papers in pdf format free and score better marks in examinations. Refer to other links too for latest sample papers.
I. Answer in one sentence each
1. Define goods.
2. Distinguish between goods and services.
3. What do you understand by ‘individual’ in economics?
4. What does ‘allocation of resources’ mean?
5. Define ‘scarcity’ in economics.
6. Define positive economics.
7. Give an example for a positive statement.
8. Define normative economics.
9. Give an example for normative statement.
10. Define micro economics
11. Give two examples for micro economic variables.
12. Define macro economics.
13. Give two examples for macro economic variables.
II. Answer in around 60 words each
14. How does problem of choices arise in an economy?
15. Define production possibilities. Show various production possibilities on a production possibility curve.
16. Define production possibility curve. State any two assumptions behind the concept of production possibility curve?
17. What does the problem of ‘for whom to produce’ signify’?
18. What does the problem of ‘how to produce’ signify’?
III.Answer in around 75 words each
19. Define a market. What are the characteristics of a market economy?
20. How do central problems get solved in a ‘market economy’?
21. What are resources? What are the basic characteristics of resources?
22. Define a mixed economy. How are central problems solved in such an economic system?
23. Define opportunity cost. Explain with the help of an illustration.
24. Define marginal opportunity cost. How does it determine the shape of production possibility curve?
25. What does the following signify:
Economy functions along the production possibility curve.
Production possibility curve shifts to right (outward).
Production possibility curve shifts to left (inward).
Economy functions below the production possibility curve.
26. What could be the shape of production possibility curve if ‘marginal rate of transformation’ is increasing in nature? Show with diagram
27. What can you say about the shape of production possibility curve if resources are equally efficient in the production of both the good? Show with diagram.
IV. Answer in around 100 words each
28. How does Production possibility curve explain the problem of ‘What to Produce’? Show with a diagram
29. Why does increasing Marginal Rate of Transformation occur? Show the concept on a production possibility curve with schedule.
30. What happens to production possibility curve When
a. Technology of production improves?
b. Earth quake destroys existing stock of capital
c. Economy employs all the resources efficiently and fully.
Free study material for Economics
CBSE Class 12 Economics Worksheets for Production Possibility Curve
Daily Practice Questions for Class 12 Economics
Access structured practice worksheets for Production Possibility Curve aligned with the 2026 CBSE curriculum. These downloadable exercises for Class 12 Economics help students build accuracy and reinforce core concepts for upcoming school tests.
Detailed Answers for Class 12 Economics Production Possibility Curve
Built using official NCERT guidelines for Class 12 Economics, these practice sheets provide reliable academic support. Cross-reference your completed work with our detailed solutions to learn standard answer-writing formats for CBSE exams.
Complete Your Chapter Revision
Follow up your worksheet practice by attempting the interactive online MCQ tests for Production Possibility Curve to evaluate your execution speed. All printable assignments and revision sheets on our platform are updated for the 2026 session and available free of charge.
FAQs
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Yes, Class 12 Economics worksheets for Production Possibility Curve focus on activity-based learning and also competency-style questions. This helps students to apply theoretical knowledge to practical scenarios.
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For Production Possibility Curve, regular practice with our worksheets will improve question-handling speed and help students understand all technical terms and diagrams.