Geography

Topics: Supply and demand, Economics, Costs Pages: 26 (6352 words) Published: August 28, 2013
CHIRANJIV BHARATI SCHOOL, PALAM VIHAR
SESSION 2013-14
WORKSHEET ON INTRODUCTION
SUBJECT: ECONOMICSCLASS: XII
Previous years (past 3 years) questions
1 Mark Questions
Q1: Give meaning of micro economics.
Q2: What is opportunity cost?
Q3: Define an Economy.
Q4 What is market economy?
Q5: What is a planned economy?
Q6: Give two examples of Micro economic studies.
Q7: Define macro economics.
Q8 How is production possibility curve affected by unemployment in the economy? Explain. Q9: explain how a production possibility curve is affected when resources are inefficiently employed in the economy? 3/4 Marks Question

Q10: Explain the problem of ‘What to Produce’.
Q11: Explain the problem of ‘How to Produce’.
Q12 Why do problems related to allocation of resources arise in the economy? Q13: Explain the problem of ‘What to Produce’.
Q14: Explain the problem of ‘For whom to produce’.
Q16: Explain any two main features of centrally planned economy. Q17: Distinguish between micro economics and macro economics. Give examples. Q18: Giving suitable examples, explain the meaning of micro economics and macro economics. Q19: Distinguish between Micro economics and Macro economics. Give examples. Q20: Why is Production possibility curve concave? Explain.

Q21 Why does an economic problem arise? Explain.
HOT (High Order Thinking Skill Questions)
1 Mark Questions
Q1: Define Scarcity.
Q2 Study of primary sector is a part of micro economics or macro economics? Q3 Give two examples of normative economics.
Q4 Define Positive economics.
3/4 marks questions
Q1: Even when resources are fully employed, economy may not operate on PPC. True or false? Q2: Explain the shape of PPC.
Q3: Explain central problems of an economy. Why are they called so? Q4: Scarcity is the mother of all economic problems. Do you agree? Justify.

CHIRANIJIV BHARATI SCHOOL, PALAM VIHAR
SESSION 2013-14
ECONOMICS CLASS XII
WORKSHEET ON CONSUMER BEHAVIOR
Previous years (past 3 years) questions
1 Mark Questions
Q1: Give meaning of Marginal Utility.
Q2: Define an indifference curve.
Q3: Define a budget line.
Q4 Define an indifference map.
Q5: Define budget set.
3/4 Marks Question
Q1: Explain the law of diminishing marginal utility with the help of utility schedule. Q2: Explain the relationship between total utility and marginal utility. Q2 A consumer consumes only two goods X and Y. At certain consumption level of these goods, he finds that the ratio of Marginal utility to price in case of X is higher than in case of Y. Explain the reaction of the consumer. Q3: Using indifference curve approach, explain the conditions of consumer equilibrium. Q4: State and explain any three characteristics or properties of indifference curve. 6 Marks Questions

Q1: Explain the conditions of consumer equilibrium in case of i) single commodity and ii) two commodity case. Use utility approach. Q2: A consumer consumes only two goods X and Y. State and explain the conditions of consumer’s equilibrium with the help of utility analysis. Q3: Derive the law of demand from a single commodity equilibrium conditions “Marginal utility = Price”. Or

Q4: Derive the inverse relation between price and quantity demanded from a single commodity equilibrium conditions “Marginal utility = Price”. Q5 What are the conditions of consumer’s equilibrium under the indifference curve approach? What changes will take place if the conditions are not fulfilled to reach at the equilibrium. Q6 Explain the conditions of marginal rate of substitution and budget line equation with the help of numerical examples. Q7: Explain the concept of marginal rate of transformation. Explain the reaction of the consumer when marginal rate of transformation is higher than the ratio of prices. Q8 What are monotonic preferences? Explain why is an indifference curve downward sloping from left to the right and convex? Q9: Explain the concept of marginal rate of transformation with the help of an example....
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