Read and download PDF of CBSE Class 12 Economics Sample Paper 2011 Solved Set D designed as per the latest curriculum and examination pattern for Class 12 issued by CBSE, NCERT and KVS. The latest Class 12 Economics Sample Papers have been provided with solutions so that the students can solve these practice papers and then compare their answers. This will help them to identify mistakes and improvement areas in Economics Standard 12 which they need to study more to get better marks in Grade 12 exams. After solving these guess papers also refer to solved Class 12 Economics Question Papers available on our website to build strong understanding of the subject
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 Paper 2011 Solved Set D
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