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Sample Papers

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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.

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12.

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

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13.

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

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14.

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

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Long Answer Type

15.

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

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16.

Explain the three properties of the indifference curves.

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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

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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.

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Short Answer Type

19.
What are demand deposits?

Demand Deposits also known as Current Account deposits refer to those deposits that provide the depositor the liberty to withdraw money at any point of time. That is, the account holder of the demand deposits can demand these deposits at any point of time as per their discretion and convenience. Such deposits do not offer any rate of interest.

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