Are you searching for the AHSEC Class 12 Economics Solved Question Paper 2018 Look no further! This article provides a detailed analysis and solutions to the HS 2nd Year Economics Question Paper 2018 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 2018
AHSEC Class 12 Economics Question Papers Solution 2018
Full Marks: 100
Pass Marks: 30
Time: Three Hours
PART - A
1. (a) Define market economy.
Answer: A market economy is an economic system in which economic decisions regarding production, distribution, and pricing are determined by the interactions of supply and demand, with minimal government intervention.
(b) What does a point below the production possibility frontier indicate?
Answer: A point below the production possibility frontier indicates underutilization or inefficient use of resources.
(c) What is meant by inferior goods?
Answer: Inferior goods are goods for which demand decreases as consumers' income increases because they prefer higher-quality substitutes.
(d) What is an indifference curve?
Answer: An indifference curve represents all combinations of two goods that provide a consumer with the same level of satisfaction or utility.
(e) If there is no change in quantity demanded despite a change in the price of a commodity, what will be the price elasticity (ep) of demand?
Answer: The price elasticity of demand (ep) will be zero, indicating perfectly inelastic demand.
(f) What is a production function?
Answer: A production function shows the relationship between inputs (factors of production) and the maximum output that can be produced with those inputs.
2. Distinguish between positive economics and normative economics.
Answer:
Positive Economics: Focuses on objective analysis and facts to explain "what is." For example, "Increasing taxes reduces disposable income."
Normative Economics: Involves value judgments to explain "what ought to be." For example, "The government should increase taxes to reduce inequality."
3. Mention any two important factors determining price elasticity of demand.
Answer:
Nature of the good: Necessities tend to have inelastic demand, while luxuries have elastic demand.
Availability of substitutes: Goods with close substitutes have higher price elasticity of demand because consumers can easily switch to alternatives.
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.