Sunday, June 18, 2017

AHSEC - Class 12 Question Papers: Economics' 2017

2017
ECONOMICS
Full Marks: 100
Pass Marks: 30
Time: Three hours
The figures in the margin indicate full marks for the questions.
PART A
1. (a) Define service. 1
(b) Fill in the blank: The allocation of ____ resources and distribution of the final goods and services are the central problems of any economy. 1
(c) What is a demand function? 1
(d) What happens to total product when marginal product is zero? 1
(e) What does a vertical supply curve imply? 1
(f) Why is average total cost (ATC) greater than average variable cost (AVC)?
2. State the meaning of microeconomics and macroeconomics. 2
3. Why does a budget line slope downward? 2
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 4 units of it for him. 2
5. State any two exceptions of the law of demand. 2
6. Define the term “long-run” as used in production. 2
7. State any two assumptions of the law of variable proportions. 2
8. Distinguish between supply and stock. 4
Or
Explain briefly any four factors affecting supply of a commodity.
9. Explain the law of supply with the help of a supply schedule. 4
10. State the relationship between average cost (AC) and marginal cost (MC) using diagram. 4
11. State the distinction between explicit cost and implicit cost. Give one example of each of them. 2+2=4
12. Write down three characteristics of monopolistic competition. State whether the output produced by a firm under such a market is higher/lower than or equal to that of a firm under perfect competition. 3+1=4
Or
“Monopoly firm is a price maker” – Explain.
13. Explain the two basic conditions of consumer’s equilibrium assuming that the consumer consumers only two goods. 6
Or
Explain the concepts of change in quantity demanded and change in demand using suitable diagrams.
14. The demand and supply functions of a firm under perfectly competitive market are given below:
And
Find (i) The equilibrium price and output.
(ii) If due to increased cost, the supply function becomes, what will be the changes in equilibrium Price and Output? 3+3=6
Or
The total cost (TC) and Prices (P) at different units of output of a monopolist are given below:
(i) Find out the total revenue (TR), marginal revenue (MR) and marginal cost (MC) schedules.
(ii) Find out the equilibrium quantity of output. 1+2+2+2=6
Q
TC
P
1
2
3
4
5
6
7
8
20
35
45
51
58
66
76
88
15
14
13
12
11
10
9
8
PART B

15. (a) What is the alternative name of macroeconomics? 1
(b) What is the significance of the 450 line in Keynesian income determination model? 1
(c) What is the value of MPC when MPS is zero? 1
(d) What is foreign exchange rate? 1
(e) What is meant by appreciation of the currency of a country? 1
(f) What is invisible trade? 1
16. Give any two examples of macroeconomic variable. 2
17. State the concept of depreciation in the context of national income accounting. 2
18. If the marginal propensity to save (s) of an economy is 0.3, find out the value of the income multiplier. 2
19. State any two measures of fiscal policy to correct the problem of excess demand in an economy. 2
20. Give the concept of full employment equilibrium. 2
21. What is deficit financing? 2
22. What are the four factors of production? Write down the name of the remuneration to each of them. 2+2
23. Explain any four causes of disequilibrium in BOP. 4
Or
Distinguish between factor income and transfer income. 4
24. It is planned to increase national income by Rs. 1,000 crore in an economy. How much increase in investment is required to achieve this goal if MPC = 0.6? 4
25. What is the meaning of government budget? Distinguish between revenue receipts and capital receipts. 1+3
26. Point out two merits and two demerits of indirect tax. 2+2=4
27. Explain the income method of calculating GDP. 6
Or
Explain the relationship between investment multiplier and MPC.
28. Briefly explain any four functions of a commercial bank. 6
Or
Describe the speculative demand for money.

Labels

Absorption Costing (1) Accountancy (4) accounting for partnership firms (3) Accounting for Share Capital (3) accounts of non trading concern (3) advanced financial accounting (14) AHSEC (149) ahsec 11 (47) ahsec 12 (60) ahsec notes (136) AHSEC Question Papers (35) Assam Slet (10) bcfm (11) bills of exchange (6) branch accounting (3) Budgetary Control (3) Budgetary Control Notes (2) business communication (28) Business Environment Notes (12) business regulatory framewrok (49) Business Statistics Notes (25) cash flow statement (5) cbse 12 (39) cbse notes (53) commerce (13) company law (23) corporate accounting (33) corporate laws (14) cost accounting (63) cost and management accounting (34) cpt (36) cpt 200 (7) cpt notes (30) dibrugarh university (1129) dibrugarh university notes (601) dibrugarh university question paper (471) dibrugarh university solved papers (225) dibrugarh university syllabus (47) direct tax law (49) eco - 01 (4) ECO - 02 (2) ECO - 03 (2) ECO - 05 (6) ECO - 06 (1) ECO - 07 (1) eco - 08 (4) eco - 09 (1) ECO - 10 (2) ECO - 11 (3) ECO - 12 (7) ECO - 13 (2) ECO - 14 (4) entrepreneurship (14) fianancial accounting (3) financial accounting (48) Financial Accounting Notes (16) financial management (18) Financial statements analysis (14) funds flow statement (3) guwahati university (289) guwahati university syllabus (52) Hire Purchase (5) Human Resource Management (11) icwai (38) icwai notes (39) ignou solved assignments (83) ignou solved question papers (121) income from house property (5) income from salary (4) Income Under the head Salaries (11) information technology (10) Installment Purchase (4) issue of shares (4) kkhsou (13) M.com (62) Management Accounting Notes (31) MCQ (11) paper I (1) paper II (9) paper III (1) principle of business mangement (16) Principles of Marketing Notes (16) royalty accounts (3) sale of goods act (8) semester I (151) Semester II (154) semester III (81) semester IV (149) semester V (122) semester VI (91) slet (13) Slet Ne (10) Small Business Management (7) solved assignments (22) UGC - NET: Commerce (08) (14) UGC - NET: Commerce (08) Paper II (3) UGC - NET: Commerce (08) Paper III (14) ugcnet solved question papers (23) Variance Analysis Notes (1)