Are you searching for the AHSEC Class 12 Economics Solved Question Paper 2017? Look no further! This article provides a detailed analysis and solutions to the HS 2nd Year Economics Question Paper 2017 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 2017
AHSEC Class 12 Economics Question Paper Solution 2017
Full Marks: 100
Pass Marks: 30
Time: Three Hours
PART-A
1. (a) Define Service.
Answer: A service is an intangible economic activity that satisfies human wants and needs, such as education, healthcare, or transportation.
(b) Fill in the blank:
Answer: The allocation of scarce resources and distribution of the final goods and services are the central problems of any economy.
(c) What is a demand function?
Answer: A demand function expresses the relationship between the quantity of a good demanded and its determinants, such as price, income, and preferences.
(d) What happens to total product when marginal product is zero?
Answer: When marginal product is zero, the total product reaches its maximum and stops increasing.
(e) What does a vertical supply curve imply?
Answer: A vertical supply curve implies that the quantity supplied is perfectly inelastic and does not change regardless of price changes.
(f) Why is average total cost (ATC) greater than average variable cost (AVC)?
Answer: Average total cost (ATC) is greater than average variable cost (AVC) because ATC includes both AVC and average fixed cost (AFC), and AFC is always positive.
2. State the meaning of microeconomics and macroeconomics.
Answer:
Microeconomics: The branch of economics that studies individual units, such as consumers, firms, and markets, focusing on how they make decisions.
Macroeconomics: The branch of economics that studies the economy as a whole, including aggregate measures like national income, inflation, and unemployment.
3. Why does a budget line slope downward?
Answer: A budget line slopes downward because to consume more of one good, the consumer must reduce consumption of another good, given their fixed income and prices. This reflects the trade-off between the two goods.
4. If the total utilities of 4 and 5 units of a commodity for a consumer are 56 and 60 respectively, calculate the marginal utility of the 5th unit of it for him.
Answer: Marginal utility of the 5th unit = Total utility of 5 units - Total utility of 4 units = 60 - 56 = 4 units.
5. State any two exceptions to the law of demand.
Answer:
Giffen goods: Goods for which demand increases as price rises, due to the income effect outweighing the substitution effect.
Prestige goods: Expensive goods like luxury cars, where higher prices may increase demand due to their status symbol.
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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.