CBSE Class 12 Economics Question Paper 2021 Set A

CBSE Class 12 Economics Question Paper 2021 Set A. Students can download the last year board exams 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

(MICRO ECONOMIC THEORY)

1. What does the area under the marginal utility curve depict?

a) Average utility

b) total utility

c) consumer equilibrium

d) none of the above.

2. Rent control is an example of

a) Price floor

b) price ceiling

c) equilibrium price

d) none of the above.

3. When equilibrium price is less than market price, there exists a situation of –

a) Excess demand

b) excess supply

c) price ceiling

d) both (a) and(b)

4. ‘A rise in price of a product may or may not lead to fall in demand for a related good.’ Explain using examples.

5. State the central problems and explain the reasons behind them.

6. Explain the implications of freedom of entry and exit of firms under perfect competition.

7. Define a PPC and describe the features of a normal PPC. 3

8. Using diagram explain the mechanism of a price control that is meant to protect the interests of consumers.

(OR)

Explain the use of price controls to protect the profits of producers. Use diagram.

9. A firm earns revenue of Rs. 500/- when the market price of the good is Rs.10/-. The market price increases to Rs. 15/- and the revenue of the firm increases by Rs. 1000/-. Find the price elasticity of supply.

10. ‘Crop damaged in Maharashtra sends onion prices soaring in Delhi.' Analyse the statement using diagram.

(OR)

‘Cheaper imports from China send the prices of Indian toys spiralling down.’ Explain the statement using diagram.

11. State whether the following statements are true or false. Justify your answer.

a) Average cost rises only when marginal cost rises.

b) Total product rises only when marginal product rises.

c) Average product is maximum when marginal product is zero.

d) Total cost is equal to total variable cost at zero level of output.

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