CBSE Class 12 Economics Question Paper 2022 Set 03 Solved

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Official CBSE Exam Papers for Class 12 Economics

Explore authentic exam materials through the CBSE Class 12 Economics Question Paper 2022 Set 03 Solved. Tailored for Class 12 learners, utilizing these Economics previous year papers ensures thorough preparation and strengthens time management skills before final CBSE evaluations.

Solved Previous Year Papers for Economics

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Section A: Introductory Microeconomics
 
1. A firm has a variable cost of ₹1, 000 at five units of output. If fixed costs are ₹400, what will be the average total cost at five units of output? (Choose the correct alternative)
(a) ₹280
(b) ₹80
(c) ₹200
(d) ₹1400
 
2. Why is a perfectively competitive firm called a ‘price taker’?
OR
Why is a monopoly firm called a ‘price maker’?
 
3. What happens to marginal product when total product increases at diminishing rate? 
 
4. What are explicit costs?
OR
Define marginal cost
 
5. State the law of diminishing marginal utility. Give the relationship between total utility and marginal utility as units consumed increases?
 
6. Are the following statements ‘true’ or ‘false’? give reasons
(a) At a higher price than equilibrium price there is excess demand.
(b) If both demand and supply increase simultaneously in same proportion, equilibrium price will also increase.
(c) Price floor the minimum allowable price above equilibrium price.
 
7. ‘As the price of a good falls, the resulting increased purchasing power may be a reason for increase in quantity demanded’. Do you agree with the given statement? Give reason for your answer.
 
8. Elaborate the ‘freedom of entry and exit’ feature of perfect competition.
OR
What are selling costs? How are selling costs useful for a monopolistic competition market?
 
9. Explain how changes in prices of other products influence the supply of a given product.
OR
Explain how changes in prices of inputs influence the supply of a product.
 
10. Giving reason, identify the equilibrium level of output and find profit at each unit of output using marginal cost and marginal revenue approach from the following data.

CBSE Class 12 Economics Question Paper 2022 Set C Solved 1

11. The market for a commodity X is in equilibrium. The price of its inputs fall. Explain with the help of a diagram its chain of effects on equilibrium price and equilibrium quantity exchanged.
OR
What is meant by ‘price ceiling’? Explain the consequences of price ceiling. (Use diagram)
 
12. Explain the following degrees of price elasticity of demand with the help of an example and suitable diagrams.
(a) Inelastic demand
(b) Highly elastic demand
 
Section B: Introductory Macroeconomics
 
13. Define capital goods. 
 
14. Define average propensity to consume. 
 
15. What is cash reserve ratio?
OR
What is statutory liquidity ratio?
 
16. Consumption at zero level of income is called. (Choose the correct alternative)
(a) Consumption function
(b) Induced consumption
(c) Proposed consumption
(d) Autonomous consumption
 
17. Explain the ‘banker’s bank and supervisor’ function of the central bank. 
 
18. Distinguish between factor payment and transfer payment.
OR
What is meant by problem of double counting? How this problem can be avoided?
 
19. What do you mean by credit/money creation? Explain the process of money creation by the commercial banks with the help of a numerical example.
 
20. Discuss briefly, the circular flow of income in a two sector economy with the help of a suitable diagram.
 
21. In an economy the marginal propensity to consume is 0.75. Investment expenditure in the economy increases by ₹75crore. Calculate the value of multiplier total increase in national income.
OR
An economy is in equilibrium. Its consumption function is C=300 +0.8Y and investment expenditure is ₹700 crores. Find national income and consumption expenditure at equilibrium.
 
22. Calculate gross national product at market price from the following data:

CBSE Class 12 Economics Question Paper 2022 Set C Solved 2

23. Explain the determination of equilibrium level of income in the economy using Savings-Investment approach. What adjustments will be made if the economy is not at equilibrium? (Use diagram)
 
24. Explain the meaning of ‘deficient demand’ using a diagram. What monetary policy measures are suggested to remedy the situation of deficient demand?
OR
Explain the meaning of ‘excess demand’ using a diagram. What fiscal policy measures are suggested to remedy the situation of excess demand?


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Past Exam Papers & Solutions for Class 12 Economics

Class 12 Economics Past Exam Papers & Resources

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The CBSE Class 12 Economics Question Paper 2022 Set 03 Solved is available for download on StudiesToday.com. It includes complete set with all sections so that Class 12 students can practice with the exact same paper that came in the CBSE exams.

Are the solutions for CBSE Class 12 Economics Question Paper 2022 Set 03 Solved based on the official CBSE marking scheme?

Yes, the solutions for CBSE Class 12 Economics Question Paper 2022 Set 03 Solved are prepared by subject matter experts as per official marking scheme. Class 12 students will understand the structure of answers and 'step-marks' methodology Economics.

How does solving CBSE Class 12 Economics Question Paper 2022 Set 03 Solved help in preparing for the 2026 exams?

Solving previous year papers like CBSE Class 12 Economics Question Paper 2022 Set 03 Solved is important to understand repeat themes and question difficulty levels of Economics. It helps Class 12 students to test their time management skills too.

Can I access CBSE Class 12 Economics Question Paper 2022 Set 03 Solved in different languages?

Yes, where applicable, CBSE Class 12 Economics Question Paper 2022 Set 03 Solved is available in both English and Hindi mediums. All students from Class 12 can access Economics study material in their preferred language.

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