AHSEC Class 12 Economics Question Paper Overview
AHSEC Class 12 Economics Question Papers 2019
ECONOMICS
Full Marks: 100
Pass Marks: 30
Time: Three Hours
The figures in the margin indicate full marks for the questions
PART - A
1. (a) Define the term scarcity as used in economics. 1
(b) What is opportunity cost? 1
(c) If marginal utility of a commodity is higher than the price, then the consumer will buy more of the commodity. (Write true or false) 1
(d) What will be the effect of price change on supply of a commodity with perfectly inelastic supply? 1
(e) How will an increase in the price of inputs shift the supply curve? 1
(f) What is shut-down price? 1
2. Why the production possibility curve slopes downward from left to right? 2
3. Give two reasons of a leftward shift in the demand curve. 2
4. The price elasticity of demand of a commodity is 4 and the percentage change in price is 8. Find the percentage change in the quantity demanded. 2
5. What is fixed factor? Give one example. 1+1=2
6. What is meant by inelastic supply? Draw a inelastic supply curve. 1+1=2
7. Mention two differences between monopoly and perfectly competitive market. 2
8. Distinguish between change in quantity demanded and change in demand. 4
9. Mention the relationship between total utility and marginal utility. 4
10. What is variable cost? Why the average variable cost (AVC) curve becomes U shaped? 1+3=4
11. The production function of a firm is Q=2L1/2 K2. Find the amount required of factor K is the firm wants to produce 200 units with available 16 units of factor L.
(Q=Output, K=Capital, L=Labour)
12. Mention the effects of the following on the supply of a commodity. 2+2=4
1) Fall in the price of factors.
2) Rise in the per unit tax.
13. Explain the Law of Variable Proportion with diagram. 6
Or
The total fixed cost of a firm is Rs. 200. Fill in the blanks of the following table.
14. Explain the process of Long-run Equilibrium Price determination of perfectly competitive industry with diagram. 6
Or
Show the effects of change in demand of a commodity on equilibrium price, if 3+3=6
1) The supply of a commodity is perfectly elastic.
2) The supply of a commodity is perfectly inelastic.
PART – B
15. (a) In what circumstances, the GDP of an economy can be equal to GNP? 1
(b) What is transfer payment? 1
(c) What is voluntary unemployment? 1
(d) What is Break-Even Income? 1
(e) What is the full form of GST? 1
(f) What is zero primary deficit? 1
16. Mention two subject matters of Macroeconomics. 2
17. Mention any two types of leakages found in the Circular Flow of Income. 2
18. What is an investment multiplier? Write the relationship between investment multiplier and MPC. 1+1=2
19. Mention the two primary functions of money. 2
20. Mention two differences between revenue receipts and capital receipts. 2
21. State two sources of supply of foreign currency. 1+1=2
22. The value of MPC of an economy is 0.4. What amount of new investment is required to generate new income of Rs. 500 crore in the economy? 4
23. Explain any two fiscal measures to solve the problems of excess demand in an economy. 2+2=4
24. Mention four factors causing disequilibrium in Balance of Payment of a country. 4
25. Write down four differences between Direct Tax and Indirect Tax. 4
26. What is Budget Deficit? What are the three types of Budgetary Deficit? 1+3=4
27. Describe the Circular Flow of Income in a Three Sector Economy. 6
Or
Explain the Expenditure Method of calculating Gross Domestic Product (GDP). 6
28. Explain the process of credit creation by commercial banks. 6
Or
Describe the Quantitative method of adopted by the Central Bank to control credit created by commercial banks. 6
-00000-
We hope the AHSEC class 12 Economic 2019 Question Paper provided on this page helps in your HS exam preparation. If you have any questions, ping us through the comment section below and we will get back to you as soon as possible.