Are you searching for the AHSEC Class 12 Economics Solved Question Paper 2016? Look no further! This article provides a detailed analysis and solutions to the HS 2nd Year Economics Question Paper 2016 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 2016
AHSEC Class 12 Economics Question Paper Solution 2016
Full Marks: 100
Pass Marks: 30
Time: Three Hours
PART-A
Full Marks: 100 Time: 3 hour
1. (a) What is mixed economy?
Answer: A mixed economy is an economic system where both private and public sectors coexist, with resources owned and managed by individuals as well as the government.
(b) What is opportunity cost?
Answer: Opportunity cost is the value of the next best alternative forgone when making a choice.
(c) Give one example of complementary goods.
Answer: Bread and butter are examples of complementary goods.
(d) Fill in the blanks:
Answer: AC = AVC + AFC.
(e) What does the average fixed cost (AFC) curve look like?
Answer: The average fixed cost (AFC) curve is downward sloping and approaches the horizontal axis asymptotically as output increases.
(f) Give an example of variable cost.
Answer: An example of a variable cost is the cost of raw materials.
2. Mention two central problems of an economy.
Answer:
What to produce? Deciding the types and quantities of goods and services to produce.
For whom to produce? Determining the distribution of goods and services among individuals in the society.
3. Mention any two determinants of market demand.
Answer:
Price of the commodity: A higher price typically leads to lower demand, and vice versa.
Income of consumers: Higher income increases demand for normal goods and decreases demand for inferior goods.
4. The total money income of a consumer is M and he spends his entire money income on the consumption of two commodities, viz. X and Y. The prices of X and Y are Px and Py respectively. State the equation of his budget line.
Answer: The equation of the budget line is M = Px × X + Py × Y, where X and Y are the quantities of the commodities consumed.
5. What is marginal rate of substitution?
Answer: The marginal rate of substitution (MRS) is the rate at which a consumer is willing to give up units of one good to obtain an additional unit of another good while maintaining the same level of satisfaction.
6. Mention two determinants of the supply curve of a firm.
Answer:
Cost of production: Higher production costs shift the supply curve leftward.
Technology: Improved technology increases production efficiency and shifts the supply curve rightward.
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.