CBSE Class 12 Economics Question Paper 2007 Set 02

CBSE Class 12 Economics Question Paper 2007 (2). 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.

SECTION-A

1. Answer the following questions : 

   (i) Give two reasons for the problem of choice.

   (ii) Give one reason for a rightward shift of the Production Possibility Curve,

   (iii) Give two examples of microeconomic studies.

   (iv) What does the problem ‘for whom to produce’ refer to ?

2. Explain the effect of rise in the prices of related goods on the demand of a good.

3. State three causes of decrease in supply.

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

5. Draw straight line supply curves with price elasticity of supply equal to (i) one, (ii) less than one and (iii) more than one.

6. When price of a good falls by 10 percent, its quantity demanded rises from 40 units to 50 units. Calculate price elasticity of demand by the percentage method.

7. Give meanings of (i) marginal physical product, (ii) marginal cost, (iii) marginal revenue and (iv) supply schedule.

8. How is the equilibrium price of a commodity affected by a leftward shift of the demand curve?Explain with the help of a diagram.

9. Distinguish between the following : 

    (a) Normal good and Inferior good

    (b) Marginal utility and Total utility

    (c) Individual demand schedule and Market demand schedule

10. Explain briefly the three features of perfect competition. 

                               OR

Explain the features of monopoly market.

Please click the link below to download pdf file of CBSE Class 12 Economics Question Paper 2007 (2).