CBSE Class 12 Economics Sample Papers 2013 (18). Based on CBSE and CCE guidelines. The students should practice these Question Papers to gain perfection which will help him to get more marks in CBSE examination. Please refer to more CBSE Class 12 question papers in other links. The CBSE Question papers are prepared based on trend in past examinations and expected questions in CBSE exams. Its always recommended by CBSE to practice the papers released by CBSE to get better exams in CBSE exams. CBSE Last Year Question Papers for class 12 for final/ term/ SA1/ SA2 Examinations conducted by Central Board of Secondary Education for all CBSE affiliated schools in India and abroad. Please refer to more CBSE Class XII sample papers, question papers, HOTs etc in other links.
Section – A
1 Economy refers to the whole collection of production units in an area by which people get their living.
2 Market demand is the sum total of demand by all the consumers of a product at a price during a period of time.
3 AFC falls continously.
4 AR continously falls as output increases.
5 A price taker firm is a firm which has no option but to sell at a price determined at the industry level.
6 Opportunity cost is the next best alternative foregone in choosing a given alternative Suppose an economy produces only two goods X and Y. Further suppose that by employing these resources fully and efficiently, the economy produces 1X + 10Y. If the economy decides to produce 2X, it has to cut down production of Y by 2 units. Then 2Y is the opportunity cost of producing 1X.(or any other relevant example)
Please refer to attached file for CBSE Class 12 Economics Sample Papers 2013 (18)