CBSE Class 12 Economics Question Paper All India with answers 2017 Set 03

CBSE Class 12 Economics Question Paper All India with answers 2017 (3). 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. A seller cannot influence the market price under (Choose the correctalternative)

(a) Perfect competition

(b) Monopoly

(c) Monopolistic competition

(d) All of the above

2. State any one feature of monopolistic competition.

3. 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

4. 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

5. Define indifference curve.

6. Define indifference curve.

7. Explain the problem of ‘‘what to produce’’.

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

                                                                            OR

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

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

10. Explain with the help of a numerical example, the meaning of diminishing marginal rate of substitution.

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