CBSE Class 12 Economics Question Paper Solved 2021 Set B

CBSE Class 12 Economics Question Paper Solved 2021 Set B. 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.  

Part – A

 (Micro Economics)

1 An economy achieves “productive efficiency” when

a) Resources are employed optimally

b) The best resources are employed

c) The total number of produced goods is the greatest

d) Goods and services are produced with least cost and no resources are wasted

2 Ed = 0 in case of:

a) Luxuries b) Normal Goods

c) Necessities d) Essentials

3. If price is above the equilibrium price there is:

a) excess demand b) excess supply

c) price ceiling d) price floor

4 A firm’s average fixed cost is Rs 20 at 6 units of output. What will be the value of AFC at 4 units of output?

a) 60 b) 30 c) 40 d) 20

5 ‘Scarcity and choices go altogether.’ Defend or Refute? Give reasons.

6 Differentiate between budget set and budget line. What is the slope of budget line?

7 Derive the law of demand from single commodity equilibrium condition ‘marginal utility = price.’

8 What is meant by returns to a factor? Explain the causes behind increasing returns to a factor.

9 Explain the relationship between Average revenue and Marginal revenue when a firm is able to sell more quantity of output

a) at same price

b) only by lowering the price

10 What conditions must hold if a profit maximizing firm produces positive output in a competitive market?

11 Why there are few firms under Oligopoly?

OR

Why the demand curve facing monopolist is more elastic than under monopoly?

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