CBSE Class 12 Economics Boards Question Paper Solved 2018 Set 1. Students can download the last year question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations.
1. State one example of positive economics.
2. Define fixed cost.
3. When the Average Product (AP) is maximum, the Marginal Product
(MP) is : (Choose the correct alternative)
(a) Equal to AP
(b) Less than AP
(c) More than AP
4. When the total fixed cost of producing 100 units is Rs .30 and the average variable cost Rs .3, total cost is : (Choose the correct alternative)
(a) Rs. 3
(b) Rs. 30
(c) Rs. 270
(d) Rs. 330
5. Explain the central problem of ‘‘for whom to produce’’.
Explain the central problem of ‘‘choice of technique’’.
6. What is meant by inelastic demand ? Compare it with perfectly inelastic demand.
7. Given the price of a good, how will a consumer decide as to how much quantity to buy of that good ? Explain.
What is Indifference Curve ? State three properties of indifference curves.
8.When the price of a commodity changes from Rs. 4 per unit to Rs. 5 per unit, its market supply rises from 100 units to 120 units. Calculate the price elasticity of supply. Is supply elastic ? Give reason.
9. What is meant by price ceiling ? Explain its implications.
10. Explain the conditions of consumer’s equilibrium using Indifference Curve Analysis.
11. Explain the conditions of producer’s equilibrium in terms of marginal revenue and marginal cost.
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