Are you searching for the AHSEC Class 12 Economics Solved Question Paper 2015? Look no further! This article provides a detailed analysis and solutions to the HS 2nd Year Economics Question Paper 2015 Solution 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 2015
AHSEC Class 12 Economics Question Paper Solution 2015
PART-A
Full Marks: 100 Time: 3 hour
1. (a) Fill in the blanks:
Answer: In economics, it is generally assumed that the consumer is a rational individual.
(b) Define substitute goods.
Answer: Substitute goods are goods that can be used in place of each other to satisfy a similar need. For example, tea and coffee.
(c) Define inferior goods.
Answer: Inferior goods are goods for which demand decreases as income increases, because consumers shift to higher-quality substitutes.
(d) In which form of market, products are homogeneous?
Answer: Products are homogeneous in perfect competition.
(e) What is the shape of the supply curve in the market period?
Answer: The supply curve in the market period is vertical, indicating perfectly inelastic supply.
(f) What is meant by equilibrium price?
Answer: Equilibrium price is the price at which the quantity demanded by consumers equals the quantity supplied by producers in the market.
2. Give the concept of centrally planned economy.
Answer: A centrally planned economy is an economic system where the government makes all decisions regarding production, distribution, and pricing of goods and services, with minimal or no role for market forces.
3. Distinguish between positive economics and normative economics.
Answer:
Positive Economics: Deals with facts and objective analysis, explaining "what is." For example, "An increase in taxes reduces disposable income."
Normative Economics: Involves value judgments, explaining "what ought to be." For example, "Taxes should be increased to reduce inequality."
4. Draw a vertical demand curve and state the nature of price elasticity on it.
Answer: (A vertical demand curve must be drawn, showing that quantity demanded remains constant regardless of price changes.)
The nature of price elasticity on a vertical demand curve is perfectly inelastic.
5. State any two assumptions of the law of demand.
Answer:
The income of the consumer remains constant.
There are no changes in the tastes and preferences of the consumer.
6. What is shut down point of a firm?
Answer: The shut down point of a firm is the level of output and price at which the firm's total revenue equals its total variable costs. Below this point, the firm would cease production as it cannot cover its variable costs.
Download and Access Assam Board Class 12 Economics Solved Papers (2012-2024) in PDF
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Benefits of Using 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.