Are you searching for the AHSEC Class 12 Economics Solved Question Paper 2022? Look no further! This article provides a detailed analysis and solutions to the HS 2nd Year Economics Question Paper 2022 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 2022
AHSEC Class 12 Economics Question Papers 2022
Full Marks: 80
Pass Marks: 24
Time: Three Hours
The figures in the margin indicate full marks for the questions.
PART – A
1. (a) Define involuntary unemployment.
Answer: Involuntary unemployment occurs when individuals who are willing and able to work at the prevailing wage rate are unable to find employment.
(b) What is effective demand?
Answer: Effective demand is the total demand for goods and services in an economy at a given price level, where aggregate demand equals aggregate supply.
(c) What do you understand by depreciation of capital?
Answer: Depreciation of capital refers to the decrease in the value of physical capital assets over time due to wear and tear, usage, or obsolescence.
(d) GNP = GDP + _______. (Fill in the blank)
Answer: GNP = GDP + Net factor income from abroad.
(e) What is foreign exchange market?
Answer: The foreign exchange market is a global decentralized market for trading currencies, where participants can buy, sell, exchange, and speculate on currencies.
(f) Which of the following transactions are included in the current account of Balance of Payment?
Answer: (4) All of the above.
2. Write the difference between GDP at market price and GDP at factor cost.
Answer:
GDP at Market Price: Measures the value of all final goods and services produced in a country, including indirect taxes and excluding subsidies.
GDP at Factor Cost: Measures the value of all final goods and services produced, excluding indirect taxes and including subsidies.
Or
Write one similarity and one difference between intermediate goods and capital goods.
Similarity: Both are used in the production process of final goods and services.
Difference: Intermediate goods are entirely consumed in production, while capital goods are used over time and not entirely consumed in a single production cycle.
3. What do you understand by ‘Paradox of Thrift’?
Answer: The Paradox of Thrift refers to the situation where an increase in saving by individuals leads to a decrease in aggregate demand and overall economic output, ultimately reducing total savings in the economy.
Or
What is aggregate supply? Explain.
Answer:
Aggregate Supply: Aggregate supply is the total quantity of goods and services that producers in an economy are willing and able to supply at a given overall price level in a given time period.
Explanation: It reflects the productive capacity of an economy and is influenced by factors such as technology, labor supply, and capital availability.
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.