AHSEC Class 12 Economics Question Papers 2015
ACCOUNTANCY
Full Marks: 100
Pass Marks: 30
Time: Three Hours
Full Marks: 100 Time: 3 hour
1. (a) Fill in the blanks:
In economics, it is generally assumed that the consumer is a ____ individual. 1
(b) Define substitute goods. 1
(c) Define inferior goods. 1
(d) In which form of market, products are homogeneous? 1
(e) What is the shape of supply curve in the market period? 1
(f) What is meant by equilibrium price? 1
2. Give the concept of centrally planned economy. 2
4. Draw a vertical demand curve and state the nature of price elasticity on it. 2
5. State any two assumptions of the law of demand. 2
6. What is shut down point of a firm? 2
7. Total fixed cost of a firm is Rs. 100 when it produces 15 units of output. If the level of output increases to 30 units, what will be the fixed cost in the short-run? Given reasons for your answer. 2
8. Distinguish between change in quantity supplied and change in supply. 4
9. Write down four characteristics of perfectly competitive market. 4
10. Explain with the help of a diagram how the shifting of the demand curve for a commodity affects the equilibrium price and output. 4
Or
What is change in demand? State any three factors that can cause shift in the demand curve.
11. State the law of diminishing returns. State the reason behind this law. 1+3=4
Or
Explain the relationship between Marginal Product (MP) and Total Product (TP) of an input.
12. Distinguish between explicit cost and implicit cost. Give one example of each of them. 2+2=4
13. Explain with the help of a diagram why at consumer’s optimum point the budget line should be tangent to an indifference curve. 6
Or
Explain the conditions for profit maximization of a firm.
14. Show with the help of a diagram how the market demand curve can be derived from individual demand curves. 6
Or
Explain the relation among TR, AR and MR of a monopolist with the help of a hypothetical table and a diagram.
Also Read: AHSEC Class 12 Economics Question Paper
15. (a) What is macroeconomics? 1
(b) What is circular flow of income? 1
(c) Define intermediate goods. 1
(d) What is velocity of circulation of money? 1
(e) “The speculative demand for money is ……………. (directly/inversely) related to the market rate of interest.”(Fill in the blank by choosing the correct word from the bracket.) 1
(f) What is foreign exchange rate? 1
16. Explain the concept of depreciation in the context of national income accounting. 2
17. If the marginal propensity to consumer (C) of an economy is 0.9, find out the value of the income multiplier. 2
18. Distinguish between consumption goods and capital goods? 2
19. Explain the significance of revenue deficit. 2
20. Define private goods and public goods. 2
21. State two merits of fixed exchange rate. 2
22. What do you understand by the problem of double counting? Explain the need for avoiding double counting in the estimation of national income. 2+2=4
23. It is planned to make a new investment of Rs. 1000 crores in a economy. How much will be the increase in National Income if MPS is 0.4? 4
24. What is investment? Distinguish between gross investment and net investment. 2+2=4
25. Explain two functions operated through government revenue and expenditure measures. 4
26. Explain the concepts of autonomous and accommodating transactions of balance of payments. 4
Or
What do you mean by disequilibrium in balance of payment (BOP)? Mention any two causes of adverse BOP of a country.
27. From the following data, find out personal income and personal disposable income. 4+2=6
Rs. in crore
| |
|
9,000
150
500
600
1,200
1,000
400
600
|
Or
Explain the income method of calculating GDP.
28. Briefly explain any four functions of a commercial bank. 6
Or
Explain three instruments of credit control used by the central bank.