Are you searching for the AHSEC Class 12 Economics Solved Question Paper 2013? Look no further! This article provides a detailed analysis and solutions to the HS 2nd Year Economics Question Paper 2013 under the Assam Higher Secondary Education Council (AHSEC). For students preparing for board exams, solved papers are a crucial resource for understanding question patterns, marks distribution, and important topics.
AHSEC Class 12 Economics Solved Question Paper 2013
AHSEC Class 12 Economics Question Papers Solution 2013
Full Marks: 100
Pass Marks: 30
Time: Three Hours
PART-A
1. (a) What is a mixed economy? 1
A mixed economy is an economic system that combines elements of both capitalism and socialism, featuring a mix of private and public ownership of resources and enterprises.
(b) Give one example of complementary goods. 1
Tea and sugar are examples of complementary goods.
(c) If the percentage change in quantity demanded is equal to the percentage change in price, what is the price elasticity of demand?
The price elasticity of demand is equal to 1 (unitary elastic demand).
(d) Define average variable cost.
Average variable cost (AVC) is the total variable cost divided by the quantity of output produced. It measures the variable cost per unit of output.
(e) Fill up the blank:
For a firm under perfect competition, the average revenue = price.
(f) What does a vertical supply curve imply?
A vertical supply curve implies that the quantity supplied is perfectly inelastic, meaning it does not change regardless of price.
2. Give one example of each of goods and services. 2
Good: A smartphone
Service: Internet connection
3. Explain how price elasticity of demand for a good depends on its nature.
The nature of a good significantly influences its price elasticity of demand:
Necessities tend to have inelastic demand as people need them regardless of price (e.g., food, medicine).
Luxuries generally have elastic demand as consumers can easily reduce their consumption if prices rise (e.g., high-end electronics). (2 marks)
4. Why does an indifference curve slope downward? 2
An indifference curve slopes downward because to maintain the same level of satisfaction, a consumer must give up some amount of one good to consume more of another. This trade-off reflects the concept of diminishing marginal rate of substitution (MRS).
5. State the law of variable proportions.2
The law of variable proportions states that as more units of a variable factor (e.g., labor) are combined with a fixed factor (e.g., land), the marginal product of the variable factor initially increases, reaches a maximum, and then starts to decline, holding other factors constant.
Download and Access Assam Board Class 12 Economics Solved Papers (2012-2024) in PDF
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Benefits of Using Economics Solved Question Papers for Assam HS 2nd Year Exams
How to Use AHSEC Class 12 Solved Papers Effectively
Final Tips for AHSEC Class 12 Economics Preparation
- Focus on diagrams and their explanations in Microeconomics.
- Practice numerical questions in Macroeconomics.
- Prepare notes for definitions, laws, and key concepts.
- Revise previous years’ question papers for better insight into trends.