CBSE Class 12 Economics Question Paper All India with answers 2017 Set 02

CBSE Class 12 Economics Question Paper All India with answers 2017 (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. Define indifference curve.

2. A seller cannot influence the market price under (Choose the correct alternative)

(a) Perfect competition

(b) Monopoly

(c) Monopolistic competition

(d) All of the above

3. Any statement about demand for a good is considered complete only when the following is/are mentioned in it (Choose the correct alternative) :

(a) Price of the good

(b) Quantity of the good

(c) Period of time

(d) All of the above

4. State any one feature of monopolistic competition.

5. Demand for a good is termed inelastic through the expenditure approach when if (Choose the correct alternative)

(a) Price of the good falls, expenditure on it rises

(b) Price of the good falls, expenditure on it falls

(c) Price of the good falls, expenditure on it remains unchanged

(d) Price of the good rises, expenditure on it falls

6. Distinguish between ‘increase in demand’ and ‘increase in quantity  demanded’ of a good.

                                                  OR

 Explain the meaning of ‘Budget set’ and ‘Budget line’.

7. Explain the problem of ‘‘for whom to produce’’.

8. Give the meaning and characteristics of production possibility frontier.

9. Define market supply. Explain the factor ‘input prices’ that can cause a change in supply.

                                                           OR

Give the behaviour of marginal product and total product as more and more units of only one input are employed while keeping other inputs as constant.

10. Explain ‘‘perfect knowledge about the markets’’ feature of perfect competition.

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