CBSE Class 12 Economics Question Paper 2020 Set 01 Solved

CBSE Class 12 Economics Question Paper Solved 2020 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

 MICRO- ECONOMICS

1 When demand increase and supply decrease

a) Equilibrium price will rise

b) Equilibrium price will fall

c) Equilibrium price may fall or rise

d) None of the above

2 Elasticity of supply of an upward sloping supply curve is:

a) Greater than one

b) Less than one

c) Equal to one

d) All of the above

3 Which of the following condition implies consumer equilibrium in case of one commodity?

a) MUm/MUx = Px b) MUx/Px = MUm

c) Px/MUx = MUm d) None of these

4 What policy initiative can the government undertake to increase the demand of milk in the country? Mention any one.

5 Availability of agriculture land is limited in an economy then how this economy can increase its production possibility frontier to solve the problem of scarcity?

6 When price per unit remains constant

a) AR>MR   b) AR<MR    c) AR=MR   d) none of the above

7 A monopolist always sets the price of its product:

a) above the marginal cost b) equal to marginal cost

c) equal to average cost d) none of these

8 If average revenue curve if rectangular hyperbola what can you say about total revenue curve?

9 Giving reasons, state whether the following statements are True or False:

a) Total product will increase only when marginal increases.

b) P=MC under perfect competition is the only condition for firm’s equilibrium.

c) With every increase in the level of output the distance between total cost and total variable cost reduces.

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