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.

CBSE Class 12 Economics Solved Question Paper 2014

Short Answer Type

11.

Why are the firms said to be interdependent in an oligopoly market? Explain.

1305 Views

12.

A consumer consumes only two goods. Explain consumer's equilibrium with the help of utility analysis.

2420 Views

13.

What happens to the demand of a good when consumer's income changes? Explain.

488 Views

14.

State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour.

1748 Views

Long Answer Type

15.

Explain the conditions of consumer's equilibrium with the help of the indifference curve analysis.

1549 Views

16.

Explain the three properties of the indifference curves.

993 Views

17.

From the following information about a firm, find the firms equilibrium output in terms of marginal cost and marginal revenue. Give reasons. Also find profit at this output.

Output (units)	Total Revenue (Rs.)	Total Cost (Rs.)
1	7	8
2	14	15
3	21	21
4	28	28
5	35	36

772 Views

18.
Market of a commodity is in equilibrium. Demand for the commodity 'increases'. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

An increase in the demand for the commodity leads to an increase in the equilibrium price and quantity.

Here,
D₁D₁ and S₁S₁ represent the market demand and market supply respectively. The initial equilibrium occurs at E₁, where the demand and the supply intersect each other. Due to the increase in the demand for the commodity, the demand curve will shift rightward parallel fromD₁D₁ to D₂D₂, while the supply curve will remain unchanged. Hence, there will be a situation of excess demand, equivalent to (q₁' − q₁). Consequently, the price will rise due to excess demand. The price will continue to rise until it reaches E₂ (new equilibrium), where D₂D₂ intersects the supply curve S₁S₁. The equilibrium price increases from P₁ to P₂ and the equilibrium output increases from q₁ to q₂.