WORKSHEET - DelE Directorate of · PDF fileWORKSHEET 1. Define micro economics. (1) _____...

1 [XII – Economics]

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Marks : 30

WORKSHEET

1. Define micro economics. (1)

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2. What do you mean by scarcity of resources? (1)

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3. Define MRT. (1)

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4. Define opportunity cost. (1)

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5. Define PPF. (1)

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[XII – Economics] 2

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6. Explain the central problem ‘What to Produce’ with example. (3)

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7. Explain the central problem ‘How to Produce’ with example. (3)

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8. Explain the central problem ‘For whom to produce’ with example (3)

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9. Explain the concept of MOC. (3)

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10. State the assumptions of PPC. (3)

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11. Explain two features of PPC. (4)

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12. How does the problem of economic choice arise? Explain. (6)

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Name ________________________ Roll No. _______

Marks : 30

WORKSHEET

1. Define Utility. (1)

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2. What do you mean by budget set? (1)

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3. What do you mean by monotonic preference? (1)

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4. Define indifference curve. (1)

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5. Define budget constraint. (1)

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6. State and explain law of diminishing marginal utility with example. (3)

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7. Given the market price of goods, how does a consumer decide as to howmany units of that goods to buy? Explain. (3)

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8. What do you mean by budget line? State its assumptions. (3)

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9. What do you mean by MRS? Explain with example. (3)

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10. Explain the relationship b/w TV and MV with example. (3)

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11. Explain the consumer’s equilibrium in case of single commodity throughutility approach. (4)

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12. Explain any 3 features of m indifference curve. (6)

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Marks : 30

WORKSHEET

1. Define demand for a good. (1)

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2. What do you mean by inferior good? (1)

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3. Define price elasticity of demand. (1)

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4. Define market demand for a good. (1)

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5. What is the cause for downward movement along demand curve? (1)

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6. Distinguish b/w decrease in quantity demanded and decrease in demand.(3)

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7. Distinguish b/w expansion of demand and increase in demand. (3)

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8. Explain law of demand with example. (3)

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9. Calculate the price elasticity of demand for a commodity, when its priceincreases by 25% and quantity demanded falls from 150 units to 120 units.

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10. How does the nature of a commodity influence its price elasticity of demand?(3)

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11. What is the relation b/w good x and good y in each case, if with the fallin price of x demand for good y (i) rises and (ii) falls? Give reasons.

(4)

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12. Explain any four factors affecting individual demand for a commodity?(6)

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Name ________________________ Roll No. _______

Marks : 30

WORKSHEET

1. Define production function. (1)

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2. What do you mean by law of returns to a factor? (1)

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3. Define total physical product. (1)

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4. Total product always increases whether MP increases or decreases. Is ittrue or false? Give reason. (1)

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5. What do you mean by point of inflexion. (1)

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6. State the relationship b/w AP and MP. (3)

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7. State the relationship b/w TP and MP. (3)

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8. State any two features of 2nd phase of law of variable proportion. (3)

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9. Giving reasons, state whether the following statements are true or false.(3)

(i) When there are diminishing returns to a factor, TP always decreases.

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(ii) TP will increase only when MP increases.

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10. Giving reasons, state whether the following statements are true or false.(3)

(i) When MP increases, AP increases.

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(ii) AP starts rising when MP>AP.

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11. Identify different phases of law of variable proportion from the followingschedule and give reasons. (4)

Variable input (units) TP (units)

1 4

2 9

3 13

4 15

5 12


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12. Explain the likely behaviour of TP and MP when for increasing productiononly one input is increased while all other inputs are kept fixed. (6)

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Marks : 30

WORKSHEET

1. What do you mean by fixed cost? (1)

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2. Define revenue. (1)

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3. What do you mean by economic cost? (1)

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4. Define explicit cost. (1)

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5. Define implicit cost. (1)

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6. Explain the concepts of TR, AR and MR. (1)

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7. Explain the concepts of ATC, MC and AFC. (3)

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8. State the relationship b/w MC and ATC. (3)

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9. State the relationship b/w AR and MR. (3)

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10. What change in TR will result in : (3)

(i) Increase in MR :

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(ii) decrease in MR :

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(iii) Constant MR :

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11. Complete the following table. (4)

Units of output AR (Rs.) MR (Rs.) (Rs.)

1 – 5 –

2 – – 26

3 11 – –

4 – 3 –

12. Assuming that AFC is Rs. 4 at 3rd units of output, calculate TC, TVC, ATCand AVC from the following data. (6)

Units of output MC (Rs.) TC TVC ATC AVC

1 20

2 10

3 15

4 25


Name ________________________ Roll No. _______

Marks : 30

WORKSHEET

1. What do you mean by producer’s equilibrium? (1)

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2. Define supply of a good. (1)

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3. Which one of supply curve is more elastic. Give reason. (1)

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Pr

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4. Define market supply. (1)

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5. What is the cause of a downward movement along the supply curve (P)? (1)

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6. How does improvement in technology affect supply of a commodity?(3)

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7. How does subsidies affect supply of a commodity? (3)

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8. Distinguish b/w expansion of supply and increase in supply. (3)

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9. When price of a commodity falls from Rs. 10 Rs. 9 per unit, its quantitysupplied falls by 20%. Calculate its price elasticity of supply. (3)

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10. How does prices of related goods affect supply of a commodity. (3)

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11. State and explain law of supply with example. Also state its fourassumptions. (4)

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12. Explain the producer’s equilibrium through MR and MC approach. (6)

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Name ________________________ Roll No. _______

Marks : 30

WORKSHEET

1. Define equilibrium price of a good.? (1)

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2. In which market, a firm is called price taker? (1)

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3. Define Non-collusive oligopoly (1)

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4. Define monopoly. (1)

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5. What is market? (1)

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6. What is the implication of ‘very large no. of buyers and sellers’ feature ofperfect competition? (3)

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7. Distinguish b/w monopoly and monopolistic competition. (3)

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8. Explain the ‘product differentiation’ feature of monopolistic competition.(3)

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9. Why does demand curve in monopolistic competition more elastic themthat of monopoly? (3)

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10. Distinguish b/w perfect oligopoly and imperfect oligopoly with example.(3)

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11. What do you mean by oligopoly? Also explain the feature ‘mutualdependence among firms’ in oligopoly. (4)

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12. If at a given price of a commodity, there is excess demand. How will theequilibrium price be reached? Explain with the help of diagram. (6)

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Name ________________________ Roll No. _______

Marks : 30

WORKSHEET

1. Define subsidies. (1)

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2. What do you mean by circular flow of income? (1)

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3. Define the concept of normal resident of a country. (1)

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4. Define NFIA. (1)

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5. Bread is always final good. Do you agree? Give reason. (1)

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6. Distinguish b/w leakage and injection with example. (3)

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7. Distinguish b/w final good and intermediate good. (3)

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8. No good is always final or intermediate, comment. (3)

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9. Which among the following are final and which are intermediate products?Why? (3)

(i) Milk purchased by a hotel :

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(ii) Cycle purchased by dealer :

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(iii) Fees paid to the layer by a producer :

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10. Which among the following are stock variable and which are flow variable?Give reasons : (3)

(i) Capital formation :

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(ii) Supply of money :

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(iii) Inventory :

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11. States the main steps of measuring national income by value added method.(4)

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12. Will the following be included in National income of India? Give reasonsfor your answers. (6)

(i) Financial help given to flood victims.

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(ii) Profits earned by an Indian bank from its branches abroad.___________________________________________________

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(iii) Salaries paid to non-resident Indian working in Indian embassy inAmerica.

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(iv) Interest received by an individual from banks.

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Marks : 30

WORKSHEET

1. Define current transfer. (1)

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2. Define GNDI. (1)

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3. What do you mean by welfare? (1)

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4. Define real GDP. (1)

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5. State one example of positive externalities. (1)

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6. How does capital transfer differ from current transfer? (3)

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7. Distinguish b/w Net National Disposable income and National income.(3)

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8. Given National income, how do you find out PDI? (3)

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9. The Nominal GDP of a country for the year 2008-09 is Rs. 150 Cr. andprice index 120. Find real GDP. (3)

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10. Distinguish b/w economic and non-economic welfare with example. (4)

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11. Distinguish b/w nominal GDP and Real GDP. (4)

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12. Explain any three limitation of GDP as an indicator of welfare. (6)

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Marks : 30

WORKSHEET

1. Define barter. (1)

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2. What do you mean by supply of money? (1)

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3. Define money. (1)

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4. What do you mean by fiat money? (1)

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5. Define Commercial bank. (1)

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6. How does a bank differ from other financial institutions? (3)

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7. Explain the problem of double coincidence of wants in the barter system.(3)

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8. Explain the concept of LRR, CRR and SLR. (3)

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9. Explain the store of value function of money. (3)

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10. Explain the unit of account function of money. (3)

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11. Explain money/credit creation by process by commercial banks withexample. (4)___________________________________________________

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12. Explain the following function of Central Bank : (6)

(i) Bank of issue :

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(ii) Banker’s Bank and Supervisor :

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Marks : 30

WORKSHEET

1. Define AD. (1)

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2. What do you mean by ex-ante savings? (1)

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3. Define consumption function. (1)

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4. What do you mean by planned investment? (1)

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5. Define AS. (1)

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6. Explain the concepts of full employment, involuntary unemployment andvoluntary unemployment (3)

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7. What will happen when planned savings exceed planned investment?(3)

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8. What do you mean by investment multiplier? How does it relate with MPCand MPS? (3)

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9. Complete the following table : (3)

Income (Rs.) Consumption Exp. (Rs.) MPC MPS

1000 900 – –

1200 1060 – –

1400 1210 – –

1600 1550 – –

10. As a result of increase in investment by Rs. 200 cr., national income risesby Rs. 1000 cr. Find out MPC? (3)

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11. Explain the working of investment multiplier with example. (4)

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12. In an economy, consumption function (c) = 1500+0.9y and Investmentexpenditure is Rs. 2500. Calculate the following : (6)

(i) equilibrium level of income and

(ii) consumption expenditure at equilibrium level of income.

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WORKSHEET

1. Define excess demand. (1)

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2. What do you mean by deficient demand? (1)

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3. Define bank rate. (1)

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4. Define moral suasion. (1)

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5. Define open market operation. (1)

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6. Explain the concept of inflationary gap with suitable diagram. (3)

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7. Explain the concept of deflationary gap with suitable diagram (3)

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8. What are the impact of excess demand on output, employment and pricelevel? (3)

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9. What are the impact of deficient demand on output, employment and pricelevel? (3)

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10. What do you mean by fiscal policy? How does public expenditure policyhelp to control excess demand? (3)

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11. Define monetory policy. How does open market operation help to controlcredit creation power of commercial banks. (4)

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12. Explain the following selective measures to control credit: (6)

(i) Determination of marginal requirement:

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(ii) Rationing of credit :

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(iii) Moral suasion :

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Marks : 30

WORKSHEET

1. What do you mean by government budget. (1)

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2. Define tax revenue (1)

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3. State any two sources of non-tax revenue. (1)

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4. In a government budget revenue deficit is Rs. 50000 Cr and borrowingsare Rs. 75000 cr. How much is the fiscal deficit? (1)

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5. Define budget deficit. (1)

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6. What is the basis of classifying Govt. receipts into revenue and capitalreceipts. (3)

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7. Distinguish b/w capital expenditure and revenue expenditure. (3)

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8. Explain the concepts of revenue deficit, fiscal deficit and primary deficit.(3)

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9. Distinguish b/w direct tax and indirect tax. (3)

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10. Explain any two objective of government budget. (3)

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11. Giving reasons, categories the following into revenue and capital exp.(4)

(i) Subsidies :

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___________________________________________________(ii) Grants given to state govt. :

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(iii) Repayment of loans :

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(iv) Construction of hospital building :

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12. Explain the implication of fiscal deficit. Can fiscal deficit possible withoutrevenue deficit? (6)

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Marks : 30

WORKSHEET

1. Define balance of payment. (1)

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2. Define foreign exchange rate. (1)

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3. What do you mean by deficit in BOP? (1)

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4. What do you mean by appreciation of a currency? (1)

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5. Define Balance of trade. (1)

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6. Distinguish between current A/c of BOP and Capital A/c of BOP. (3)

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7. State the components of BOP. (3)

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8. Distinguish b/w devaluation and depreciation of a currency. (3)

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9. Distinguish b/w autonomous items and accommodating items in BOP.(3)

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10. State any three sources of demand for foreign exchange. (3)

(i)

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11. Distinguish b/w BOT and BOP. (4)

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12. Explain the determination of equilibrium foreign exchange rate under flexibleexchange rate system. (6)

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CLASS - XII

WORKSHEET - DelE Directorate of · PDF fileWORKSHEET 1. Define micro economics. (1) _____...

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