CBSE Class 12 Economics Foriegn Question Paper 2013 (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. Answer the following questions :
(i) Define market supply.
(ii) What is the price elasticity of a straight line supply curve touching the OX-axis ?
(iii) State one characteristic of a perfectly competitive market.
(iv) Define total revenue.
2. What is the relationship between marginal cost and average cost ?
3. State three main features of monopolistic competition.
4. State any three causes of a decrease in the supply of a commodity.
5. When is a good called (a) a normal good, and (b) an inferior good ?
6. Define price elasticity of demand. Explain any three factors that affect it.
7. Explain the problem of ‘For whom to produce’ with the help of an example.
8.When the price of a commodity is Rs. 10 per unit, its quantity supplied is 100 units. When its price rises by 10 percent, its quantity supplied rises by 9 units. Calculate its elasticity of supply. Is its supply elastic ? Give reasons for your answer.
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