CBSE Question Paper 2014 class 12 Economics

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CBSE Question Paper 2014 class 12 Economics conducted by Central Board of Secondary Education, New Delhi in the month of March 2014. CBSE previous year question papers with solution are available in myCBSEguide mobile app and cbse guide website. The Best CBSE App for students and teachers is myCBSEguide which provides complete study material and practice papers to cbse schools in India and abroad.

CBSE Question Paper 2014 class 12 Economics

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CBSE Question Paper 2014 class 12 Economics

Class 12 Economics list of chapters

Part-1 (Macro)

  1. Introduction
  2. National income accounting
  3. Money and Banking
  4. Income Determination
  5. The Government Budget and Economy
  6. Open Economy Macroeconomics

Part-2 (Micro)

  1. Introduction
  2. Theory of consumer behaviour
  3. Production and Costs
  4. Theory of the Firm Under Perfect Competition
  5. Market Equilibrium
  6. Non Competitive Markets

CBSE Question Paper 2014 class 12 Economics

General Instructions:

  • All questions in both the sections are compulsory.
  • Marks for questions are indicated against each.
  • Question No. 1-5 and 17-21 are very short answer questions carrying 1 mark for each part.
  • Question Nos. 6-10 and 22-26 are short answer questions carrying 3 marks each. Answer to them should not normally exceed 60 words each.
  • Question Nos. 11-13 and 27-29 are also short answer questions carrying 4 marks each. Answer to them should not normally exceed 70 words each.
  • Question Nos. 14-16 and 30-32 are long answer questions carrying 6 marks each. Answers to them should not normally exceed 100 words each.
  • Question Marked star (*) are value-based questions.
  • Answers should be brief and to the point and the above word limits be adhered to as far as possible.

SECTION A

1. Name the economic value achievable when attempts are made to increase resources in the country.

2. Define market supply.

3. When is supply of a good said to be perfectly price inelastic?

4. Give two examples of fixed costs.

5.  Define demand.

6. Explain any two causes of ‘‘decrease’’ in supply of a commodity.

OR

Explain any two causes of a rightward shift of supply curve.

7. Why does the problem of ‘how to produce’ arise? Explain.

8. Calculate marginal cost at each level of output:

Output (units)

1

2

3

4

5

6

Average variable cost (Rs)

24

22

20

18

18

20

9. From the following data calculate price elasticity of supply:

Price per unit (Rs)

10

12

Total Revenue (Rs)

2000

2400

10. A and B are complementary goods. Explain the effects of change in price of A on demand for B.

11. Explain the distinction between the equations of budget line and budget constraint.

12. The price elasticity of demand of a good is (–) 1. At a price of Rs 40 per unit its demand is 500 units. At what price will its demand increase by 20 percent?

13. Define monopoly. State the main features of monopoly.

14. From the following data find out the level of output at which the producer is in equilibrium. Give reasons for your answer. (Use marginal cost, marginal revenue approach)

Output (units)

Total Revenue (Rs)

Total Cost (Rs)

1

12

14

2

24

26

3

36

36

4

48

48

5

60

62

15. Explain the characteristics of indifference curves.

OR

Explain the conditions of consumer’s equilibrium using utility analysis.

16. Explain the meaning of excess supply. Explain its chain of effects on price, demand and supply of the commodity. Use diagram.

SECTION B

17. Give two examples of revenue expenditure.

18. Give the meaning of depreciation.

19. What is statutory liquidity ratio?

20. Define domestic product.

21. Define domestic product.

22. In an economy planned spending is greater than planned output. Explain all the changes that will take place in the economy.

23. Distinguish between Balance of trade and Balance on current account of the Balance of Payments account.

24. Explain the ‘unit of account’ function of money.

OR

Explain the role of central bank as the ‘Bankers’ Bank’.

25. Distinguish between stocks and flows. Give an example of each.

26. Explain the meaning of average propensity to consume. What is its relation with average propensity to save?

27. From the following data calculate ‘‘Net value added at factor cost’’:

(Rs in Lakhs)

(i)Sales

400

(ii)Change in stock

(-) 20

(iii)Intermediate consumption

200

(iv)Net indirect taxes

40

(v)Exports

50

(vi)Depreciation

30

OR

Is gross domestic product a true index of economic welfare of the people? Give two reasons in support of your answer.

28. How does the central bank control credit creation in the economy through ‘‘Bank Rate’’? Explain.

29. Government takes measures to restrict autonomous imports of gold. Explain the economic values desired to be achieved from this.

30. Distinguish between:

(a) Direct tax and Indirect tax

(b) Primary deficit and Revenue deficit.

31. (a) Distinguish between autonomous consumption and induced consumption.

(b) From the following data about an economy, calculate its equilibrium level of income:

(i) Autonomous consumption = 400

(ii) Marginal propensity to consume = 0.5

(iii) Investment = 4000

32. Calculate national income:

(Rs in Crores)

(i)(i) Net current transfer from rest of the world

30

(ii)Private final consumption expenditure

400

(iii)Net domestic capital formation

100

(iv)Change in stock

50

(v)Depreciation

20

(vi)Government final consumption expenditure

200

(vii)Net exports

40

(viii)Net indirect taxes

80

(ix)Net factor income paid to abroad

10

 

OR

From the following data calculate personal disposable income:

(Rs in Crores)

(i)Net domestic product at factor cost

accruing to private sector

800

(ii)National Debt interest

50

(iii)Current transfers from government

70

(iv)Savings of private corporate sector

200

(v)Corporation tax

40

(vi)Direct taxes paid by households

30

(vii)Depreciation

60

(viii)Net factor income from abroad

20

(ix)Net current transfers to abroad

(-)10

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Last Year Question Paper Class 12 Economics 2014

Download class 12 Economics question paper with solution from best CBSE App the myCBSEguide. CBSE class 12 Economics question paper 2014 in PDF format with solution will help you to understand the latest question paper pattern and marking scheme of the CBSE board examination. You will get to know the difficulty level of the question paper.

Previous Year Question Paper for class 12 in PDF

CBSE question papers 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 209, 2008, 2007, 2006, 2005 and so on for all the subjects are available under this download link. Practicing real question paper certainly helps students to get confidence and improve performance in weak areas.

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