CBSE Class 12 Economics Question Paper 2019 Set 12 Solved

CBSE Class 12 Economics Question Paper Solved 2019 Set L. 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. The coefficient of price elasticity of supply of a good is 3. It is known as ___________ . (Choose the correct alternative)

(a) Unitary Elastic Supply

(b) Perfectly Inelastic Supply

(c) Elastic Supply

(d) Inelastic Supply

2. Shift from Point A on Production Possibility Curve X₁Y₁ to Point B on X₂Y₂ in the given figure indicates : (Choose the correct alternative)

(a) Decrease in resources

(b) Increase in resources

(c) Full and efficient utilisation of resources

(d) Wastage of resources

OR

A Production Possibility Curve (PPC) would be convex to the origin if Marginal Rate of Transformation (MRT) is ________ . (Fill up the blank)

3. The shape of the average revenue curve under perfect competition would be _________ . (Fill up the blank)

4. Mention any two examples of implicit cost incurred by a firm.

OR

Define variable cost. 

5. Discuss briefly the central problem of ‘‘How to produce’’.

OR

Classify the following statements into positive economics or normative economics, with suitable reasons :

(a) The autonomy of the central bank of a country should be maintained as per the law.

(b) Nominal Gross Domestic Product (GDP) is calculated on the basis of ‘current year prices’. 

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