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

Advertisement

11.

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


The number of buyers and sellers operating under perfect competition is very high. As the number of individual sellers very large, an individual seller cannot fix the price. Similarly no single buyer can fix the price or change it by his action. Even if he increases or reduces demand, it does not make any effect on the total demand in the market. Price of a product is determined by the interaction of total demand and total supply in the market. Hence every seller and buyer under perfect competition is a price taker and not a price maker.   

1755 Views

Advertisement
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

16.

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

1503 Views

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