CBSE Class 12 Economics Sample Paper 2011 Set 04 Solved

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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)

7 Consumer purchases upto the point where MU= Price .So long as MU> P, he keeps on purchasing. As he makes purchases MU falls and at a particular quantity of the good MU becomes equal to Price. Consumer purchases upto this point.

8

CBSE Class 12 Economics Sample Papers 2013 (18) (1) 1

[NOTE:-
For Evaluators
1. Please check that the vertical distance between ATC curve and AVC curve goes on falling.
2. Check that the MC curve passes through the minimum points of the AVC and ATC curves.
3. Check that all components of the diagam are properly labelled]
For Blind Candidates:-
When MC < AVC, AVC falls. 
When MC = AVC, AVC is constant. 
When MC > AVC, AVC rises. 
 
9 Implicit cost: estimated salary of the owner. Because the owner would have earned this salary if he had worked with a firm not owned by him.
Explicit cost: Rent paid. 
Because it is actual money expenditure on input. 
10 The implication is that no single buyer is in a position to influence the market price on its own because an individual buyer's purchase forms a negligible proportion of the total purchase of the good in the market. 
 
OR
Firms are mutually interdependent because an individual firm takes decision about price and output after considering the possible reactions by the rival firms.



Please refer to attached file for CBSE Class 12 Economics Sample Paper 2011 Solved Set D

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CBSE Class 12 Economics Sample Paper 2011 Set 04 Solved & Sample Question Papers for Class 12 Economics

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  • Exam Blueprint: Understand mark allocations and structural guidelines relevant to Class 12 evaluations.
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  1. Self-Evaluation: Score your answers using official guidance to track your academic progress.
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  3. Continuous Practice: Take additional Economics sample modules online to maximize preparedness for CBSE evaluations.

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