CBSE Class 12 Economics Sample Papers 2014 (3)

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CBSE Class 12 Economics Sample Papers 2014 (3). Revision worksheets, Sample papers, Question banks and easy to learn study notes for all classes and subjects based on CBSE and NCERT guidelines. Students and parents can download free a collection of all study material issued by various best schools in India. The study material has been carefully compiled by the best teachers in India. The students should practice the questions database to get better marks in examination. Please refer to other links for free download of high quality study material. Based on CBSE and NCERT guidelines. Based on the same pattern as released by CBSE every year. Study material for final/ term/ SA1/ SA2 Examinations conducted by various schools affiliated to Central Board of Secondary Education (CBSE) in India and abroad. CBSE Study material has been compiled to help students preparation which will helps the students to concentrate more in areas which carry more marks.

1. Give the meaning of opportunity cost. (1)

2. State any one factor causes increase in demand for a good. (1)

3. What is the general shape of APP curve? (1)

4. When is elasticity of demand called unitary? (1)

5. Define Total Revenue. (1)

6. What is meant by abnormal profits? (1)

7. State the shape and nature of AR curve of monopoly? (1)

8. Define Production function. (1)

9. What is the Price Elasticity Supply associated with a straight line supply curve passing through the origin? (1)

10. State the Law of Diminishing Marginal utility. (1) 

11. What is meant by substitute goods? Explain their price demand relationship with the help of a diagram. (3)

12. Price Elasticity of Demand for a product is ‘unity’. A household buys 25 units of this product at the price of 5 per unit. If the price of the product rises by 1, how much quantity of the product will the household buy? (3)


When the price of the product falls by 80% , the quantity demanded of it increases by 100% . Find out its price elasticity of demand.

13. Differentiate between Micro Economics and Macro Economics. (3)

14. Mention the causes for the operation of increasing returns to scale. (3)

15. Calculate the firm’s profit, when AVC is 20 per unit, AFC is 10 per unit, price per unit of output is 25 per unit and only 8 units of the output are produced. (3)

16. Distinguish between collusive and non-collusive oligopoly. (3)

17. When the price of a commodity rises from 4 to 5 per unit , total revenue increases from 600 to750. Calculate its price elasticity of supply. (3)

18. Explain consumer’s equilibrium with single commodity. (3)

19. State the meaning of normal good and inferior good. (3)

20. Differentiate between explicit cost and implicit cost. (3)

21. What is the relation between price and average revenue for the price taking firm ? (4)

22. Explain the Law of Demand with the help of schedule and explain its assumptions. (4)

23. Define marginal cost. Explain its relation with average cost. (4)

OR Why is AC curve is U-shaped?

24. Why does an economic problem arise? Explain the problem of ‘how to produce’? (4) 

Please refer to attached file for CBSE Class 12 Economics Sample Papers 2014 (3).


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