CBSE Class 12 Economics Question Paper 2019 Set 01 Solved

CBSE Class 12 Economics Question Paper Solved 2019 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

(MICROECONOMICS)

1. State any two examples of variable cost.

OR

State any two examples of fixed cost.

2. If the Marginal Revenue curve is parallel to the X-axis, the price of the commodity would be ____________ . (Choose the correct alternative)

(a) Equal to Marginal Revenue

(b) More than Marginal Revenue

(c) Zero

(d) Less than Marginal Revenue

3. Which of the following is an example of implicit cost ? (Choose the correct alternative)

(a) Wages paid

(b) Cost of Raw material

(c) Interest on owner’s capital

(d) None of the above

4. In the given figure X₁Y₁ and X₂Y₂ are Production Possibility Curves in two different time periods T₁ and T₂ respectively. A₁ and A₂ represent actual outputs in T₁ and T₂ periods respectively. P₁ and P₂ are potential outputs in T₁ and T₂ periods respectively.

 The change in potential production over the two periods would be represented by a shift from __________ . (Choose the correct alternative)

(a) P₂ to A₂

(b) A₁ to A₂

(c) A₂ to A₁

(d) P₁ to P₂

OR

A Production Possibility Curve (PPC) would be convex to the origin, if Marginal Opportunity Cost (MOC) is _________. (Fill up the blank)

5. Explain the concepts of individual demand schedule and market demand schedule.

6. ‘‘Problem of resource allocation would not arise, if resources do not have alternative uses.’’ Defend or refute the statement with valid arguments.

OR

Discuss briefly the meaning of positive economics and normative economics, with suitable examples. 

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