KENDRIYA VIDYALAYA MANKAPUR
FIRST PRE-BOARD EXAMINATION 2014
SUBJECT –ECONOMICS
Maximum Marks: 100
CLASS – XII
Time allowed: 3 hours
Note:
I.
All questions in both the sections are compulsory
II.
Marks for questions are indicated against each.
III. Questions No. 1-5 and 17-21 are very short-answer questions carrying 1 mark for each part.
They are required to be answered in one sentence each.
IV. Questions No. 6-10 and 22-26 are short-answer questions carrying 3 marks each. Answers
to them should normally not exceed 60 words each.
V.
Questions No. 11-13 and 27-29 are also short-answer questions carrying 4 marks each.
Answers to them should normally not exceed 70 words each.
VI. Questions No. 14-16 and 30-32 are long-answer questions carrying 6 marks each.
Answers to them should normally not exceed 100 words each.
VII. Answers should be brief and to the point and the above word limits should be adhered to as
far as possible.
VIII. All parts of a question should be answered at one place.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
SECTION-A
What gives rise to an economic problem?
vfFkZd leL;k D;ksa mRiUu gksrh gSA
Define law of demand
ekax ds fu;e dh O;k[;k djksA
Define change in supply.
iwfrZ esa ifjorZu dh O;k[;k djksA
Why does area under TVC is MC?
ifjorhZ yxkr ds vUnj dk {ks= lhekUr ykxr D;ks gSA
Give the profit maximization situation in case of producer equilibrium.
mRiknd ds lUrqyu dh fLFkfr ls D;k vfHkizk; gSA
The total expenditure of the consumer on a commodity remains unaffected due to change in
price. Comment on the elasticity of demand for the commodity.
dherksa ls ifjorZu ds dkj.k miHkksDrk dk oLrq ij dqy O;; leku dh O;k[;k djksA
Explain the relation between marginal revenue and average revenue.
lhekUr vk; vkSj vkSlr vk; ds lecU/k dh O;k[;k djksA
With the help of a suitable schedule, explain the relationship between TPP and MPP.
lwph dh lgk;rk ls dqy mRikn vkSj lhekUr mRikn esa lEcU/k crk,A
Represent the monopolistic competition with the help of average revenue and marginal
revenue curves.
vkSlr vk; ozd vkSj lhekUr vk; ozd dh lgk;rk ls ,dkf/kdkjh izfr;ksfxrk dks izLrqr djsA
Calculate TC, AC at each level of output.
OUTPUT
MC
1
40
2
30
3
35
4
39
Explain the effect of a rise in the prices of ‘related goods’ on the demand for a good X.
12.
13.
14.
15.
16.
lacf/kr cLrqvksa dh dherksa esa of} gksus ds X oLrq dh ekax ij D;k izHkko iM+rk gSA O;k[;k
dhft,A
Give the meaning of perfectly elastic supply and perfectly inelastic supply.
iw.kZ;rk ykspnkj iwfrZ vkSj iw.kZ;rk csykspnkj iwfrZ dk vFkZ crk,A
Differentiate between monopoly and perfect competition form of market.
,dkf/kdkj vkSj iw.kZ izfr;ksxrk esa vUrj li’V djsA
Distinguish between fixed costs and variable costs. Also explain the relationship between
marginal cost and average cost with the help of a diagram.
ca/kh ykxrksa vkSj ifjorhZ ykxrksa esa vUrj Li’V djsA fp= dh lgk;rk ls vkSlr ykxr vkSj lhekUr
ykxrk esa LecU/k dh O;k[;k djksA
Explain the law of variable Proportion.
ifjorhZ vuikr ds fu;e dh O;k[;k djksA
Or
What is meant by returns to a factor? State three phases of law of variable proportions.
,d dkjd ds izfrQy dk D;k vFkZ gS\ ifjorhZ vuqikr dh rhuksa voLFkkvksa dh O;k[;k djksA
Explain the following:uhps fn, x, dh O;k[;k djksA
a) Law of diminishing Marginal utility
lhekar mi;ksfxrk dk fu;e D;k gSA
b) Exception to law of demand.
ekax ds fu;e ds viokn
SECTION-B
Answer the following:17.
Give the example of Macro variables?
lef’V pjksa dh mnkjg.k nks\
18.
Define Transfer payment?
gLrkarfjr vk; dh O;k[;k djks\
19.
Define ‘aggregate supply’
dqy iwfrZ dh O;k[;k djks\
20.
What is balance of trade?
O;kij “ks’k D;k gS\
21.
Define autonomous consumption.
Lok;Ÿk miHkksx dh O;k[;k djsA
22.
Distinguish between development expenditure and non-development expenditure. Is
government expenditure on administration and defense a development expenditure?
fodkl O;; rFkk fodklsrj O;; esa eq[; varj crkb,A D;k ljdkjh O;; iz”kklu vkSj lqj{kk ij fodkl O;; gSA
23.
24.
25.
26.
Differentiate between depreciation and value loss.
ewY;ál vkSj dher esa deh esa vUrj dh O;k[;k djksaA
"GDP is not the real indicator of welfare". Explain.
GDP dY;k.k dh lgh lwpd ugh gSA O;k[;k djks\
Differentiate between Intermediate product and Final product?
vfrae rFkk e/;orhZ oLrqvksa esa eq[; vUrj crka,\
Calculate Gross Value Added at factor cost:a)
Sales
800
fczdh
800
b)
Opening stock
40
27.
28.
29.
30.
31.
32.
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
(xi)
(xii)
(xiii)
(xiv)
izkjafHkd LVkd
40
c)
Closing stock
30
vfrae LVkd
30
d)
Subsidies
50
vkfFkZd lgk;rk
50
e)
Purchase of intermediate product 400
e/;orhZ miHkksx
400
f)
Purchase of machinery
200
e”khujh dh [kjhnkjh
200
Distinguish between direct tax and indirect tax. Give two examples of each.
izR;{k dj vkSj vizR;d dj esa vUrj crk,aA gj ,d dh nks mnkgj.k Hkh nksA
Differentiate between money multiplier and investment multiplier
Hkqæk xq.kd vkSj fuos”k xq.kd esa vUrj crk,aA
Distinguish between a commercial bank and a central bank.
okf.kT; cSad vkSj dSaæh; cSad esa vUrj crk,aA
Describe fiscal deficit and its importance in economic development?
vkfFkZd fodkl esa jktdks’kh; ?kkVk vkSj blds egRo dh O;k[;k djsaA
Define central bank. What are the functions of central bank?
dsaæh; caSd dh O;k[;k djks dsæh; cSad ds eq[; dk;Z D;k gS\
From the following data calculate National Income by Income and Expenditure methods.
uhps fn, x, vkdM+ks es ls vk; fof/k vkSj [kpZ fof/k }kjk jk’Vªh; vk; dh O;k[;k djksA
Government final consumption expenditure
100
ljdkjh vfUre miHkksx O;k;
Subsidies
10
vkfFkZd lgk;rk
Rent
200
fdjk;k
Wages and salaries
600
etnwjh vkSj vk;
Indirect tax
60
vizR;{k dj
Private final consumption expenditure
800
futh vfUre miHkksx O;;
Gross domestic capital formation
120
ldy ?kjsyw iawth fuekZ.k
Social security contributions by employers
55
Lkekftd lqj{kk esa deZpkfj;ksa dk ;ksxnku
Royalty
25
jk;YVh
Net factor income paid to abroad
30
“kq} lk/ku vk; vnk;xh fons”k dks
Interest
20
C;kt
Net domestic capital formation
110
“kq} ?kjsyw iwath fuekZ.k
Profit
130
ykHk
Net exports
70
“kq} fu;kZr
CLASS – XII
Time allowed: 3 hours
KENDRIYA VIDYALAYA MANKAPUR
FIRST PRE-BOARD EXAMINATION 2014
SUBJECT –ECONOMICS
Maximum Marks: 100
Marking Scheme
Section-a
1. Economic problem arises because:
a) Recourses are scarce b) resources are alternative uses
1/2+1/2
2. Law of demand state that other things remain constant when price increases
demand decreases and
price decreases demand increases.
1
3. Change in supply means increase in supply and decrease in supply.
1
4. This is because TVC = sum of MC.
1
5. Producer get maximum profit were
Profit = TR-TC.
1
6. If the rise or fall in own price of a commodity causes no change in total expenditure on commodity
then elasticity of demand is unitary.
Situation
Price of
Quantity
Total
Change in
Elasticity of
commodity
Kg
expenditure total
demand
expenditure
A
2
4
8
8
Unitary
1
8
8
8
elastic
1.1/2=+1.1/2
7. Relation between AR and MR
1) If AR is constant AR = MR
2) If AR is diminishing AR> MR
3) MR can be –ve but not AR
3
8.
Land
Labor
TP
MP
1
1
1
1
1
1
1
1
1
2
3
4
5
6
7
8
2
5
9
12
14
15
15
14
2
3 =increasing
4
MP
3
2=
Diminishing
1 MP
0
-1 = -ve MP
3
9. Revenue Curve Under monopolistic compt. Is same as under monopoly
A
Revenue
AR
MR
Output
10. Calculate AVC
Output
1
2
3
4
MC
40
30
35
39
3
TC
40
70
105
144
AC
40
35
35
36
3
11. demand for goods which are related (like Tea and Coffee) is more elastic because when price of such
goods rises the consumer has the option to shifting to the related goods.
3
12. Perfectly inelastic supply: when supply does not response to change in price of the commodity.
Perfectly elastic supply: change in price will cause an infinite change in quantity demanded.
1.1/2+1.1/2
13.
S.No.
Reference
Perfect competition Monopoly
1.
Number of seller and Large
One seller , but large
buyers
number of buyers
2.
Product
Homogeneous
Homogenous or
differentiated
3.
Price
Uniform
Not uniform because
of price
discrimination
4.
Entry of firm
Free entry
Not possible
3
14.
Fixed cost
Variable cost
1. Fixed costs do not change with change
1. Variable costs change with change in
with change in quantity of output.
quantity of output.
2. Fixed cost remains the same
2Variable cost are zero when output
whether output is zero or maximum.
Is zero. These costs increase when
output increase and decrease when
output decreases.
Diagrammatical relation between MC and AC
3,3
15. Law of variable proportion state that as more and more variable factor are used with fixed factor then
marginal product of variable factor start declining.
Table, diagram
2,2,2
OR
Three stages are:
1) Increasing returns
2) Diminishing returns
3) Negative returns
16. a) Law of diminishing marginal utility
b) Exception of law of demand
2,4
2
4
SECTION-B
17. Macro variable are – agg consumption, agg demand, agg supply, general price level.
1/2+1/2
18. Transfer payment is one sided payment from one sector to other sector. 1
19. Aggregate supply refers to the flow of goods and services as planned by the producers during an
accounting period.
1
20. BOT= export of visible items – import of visible item.
1
21. Autonomous consumption is compulsory consumption.
1
22. Developmental expenditure directly at to the flow of goods and services in the economy .non
developmental expenditure does not.
Expenditure on defense is non developmental Expenditure
2,1
23. Deprecation means loss of value of fixed assets.
1.1/2+1.1/2
24. GDP is not true indicator of welfare
1) Distribution of income
2) Composition of GDP
3) Non monetary transaction
1,1,1
25.
Intermediate goods
Final goods
1. These goods may be used as raw
1. These goods are not used as raw
material for the production.
material.
2. Value to be added to these goods.
2. Value is not to be added to these
goods.
1.1/2+1.1/2
26. Gross value added at factor cost = Sales+ (closing stock –opening stock)-purchased of
intermediate product – purchase of machinery + subsidies. 3
27. While the impact of indirect taxation (like sales tax) can be shifted on to others, the impact of
indirect taxation (like income tax) cannot be shifted.
For example:
2+2
28. Investment Multiplier and MPC: Investment multiplier is the ratio between change in income
and change in investment.
K = Change in Y/change in I
2+2
29. Commercial bank: A commercial bank is a financial institute engaged in the business of
accepting deposit and making loans to the people.
Central bank: the central bank is an apex bank of the entire banking system of the country; RBI
is the central bank of India.
2+2
30. Fiscal deficit is equal to the total borrowing of the government its shows estimated borrowing
by the government to cope with its expenditure during the year.
2+4
31. Central bank: the central bank is an apex bank of the entire banking system of the country;
RBI is the central bank of India.
Function of the central bank
1. Issuing of notes
2. Banker of the government
3. Bankers bank
4. Supervision of bank
5. Lender of the last resort.
6. Control of credit.
2+4
32. INCOME METHOD
NNP FC =(iii) +(viii)+(ix)+(iv)-(x)+(xi)+(xiii)-(v)+(xiv)
Expenditure Method:
NNPFC = (i)+(ii)-(iv)+(vi)+(vii)-(x)+(xii)+(xiv)
3+3