CBSE Class 12 Economics Question Paper Solved 2019 Set H. 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.
1. .A production possibility curve (PPC) would be concave to the origin if marginal opportunity cost is : (Choose the correct alternative)
In the given figure X1Y1 and X2Y2 are Production Possibility Curves in two different periods T1 and T2 respectively for Good X and Good Y. A1 and A2 represent actual outputs and P1 and P2 represent potential outputs respectively in the two time periods.
The change in actual output of Goods X and Y over the two periods would be represented by movement from _________ . (Fill up the blank)
(a) A2 to P2 (b) A1 to P2
(c) P1 to A2 (d) A1 to A2
2. The marginal product curve in the input-output plane, looks like ____________ : (Choose the correct alternative)
(a) a ‘U’ shaped curve
(b) an inverse ‘U’ shaped curve
(c) an inverse ‘S’ shaped curve
(d) an ‘S’ shaped curve
3. If the percentage change in quantity supplied of commodity X is more than the percentage change in price of the commodity X, the coefficient of price elasticity of supply would be _______________ : (Choose the correct alternative)
(a) Es = 1
(b) Es < 1
(c) Es = 0
(d) Es > 1
4. If the average fixed cost of producing 4 units of output is Rs. 60, then the value of total fixed cost for producing 5 units will be _____________ . (Fill up the blank)
State any two examples of variable cost.
5. Explain briefly the central problem of ‘‘What to produce’’.
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