Subject

Economics

Class

CBSE Class 12

Pre Boards

Practice to excel and get familiar with the paper pattern and the type of questions. Check you answers with answer keys provided.

Sample Papers

Download the PDF Sample Papers Free for off line practice and view the Solutions online.
Advertisement

 Multiple Choice QuestionsShort Answer Type

11.

Explain “large number of buyers and sellers” features of a perfectly competitive market. 

1755 Views

12.

Production in an economy is below its potential due to unemployment. Government starts employment generation schemes. Explain its effect using production possibilities curve. 

1133 Views

13.

Explain the conditions of producer’s equilibrium with the help of a numerical example. 

1258 Views

14.

The price elasticity of demand for a good is − 0.4. If its price increases by 5 percentage, by what percentage will its demand fall? Calculate. 

849 Views

Advertisement
15.

Explain any two factors that affect the price elasticity of demand. Give suitable examples.

594 Views

Advertisement

16.

Giving reasons, state whether the following statements are true or false.
A monopolist can sell any quantity he likes at a price.


False, a monopolist cannot sell any quantity he likes at a price because the monopolist controls only the supply and not the demand. A monopolist can only determine one of two things. It has to be either price or quantity; this is because there is a fixed price consumers are willing to pay for a given quantity. As a result a monopolist can only charge the price corresponding to the specific quantity he has set otherwise the goods he has produced won’t be sold. This is because he has no control over the quantity that he can sell in the market. Rather, it depends on the buyers that what quantity of output they want to purchase at the price fixed by the monopolist. If the monopolist fixes a higher price, then lesser quantity of the output will be demanded and lesser quantity will be sold in the market. On the other hand, if he fixes a lower price, then higher quantity of the good will be sold.

1503 Views

Advertisement
17. Giving reasons, state whether the following statements are true or false.
When equilibrium price of a good is less than its market price, there will be competition among the sellers. 
983 Views

 Multiple Choice QuestionsLong Answer Type

18.

Explain the Law of Variables Proportions with the help of total product and marginal product curves. 

2620 Views

Advertisement
19.

Explain consumer’s equilibrium with the help of Indifference Curve Analysis.

2637 Views

 Multiple Choice QuestionsShort Answer Type

20.

Explain the relationship between prices of other goods and demand for the given period. 

2355 Views

Advertisement