Gujarat Board Class 12 Economics Sample Papers 2008

Economics 2008
Class XII

Sample Paper

1.Define production function?

2.What does a movement from a point within the production possibility frontier to a point on the frontier indicate?

3.Define marginal revenue.

4.What is the price elasticity of supply of a commodity whose straight line supply curve passes through the origin forming an angle of 75??

5. When does a situation of deficient demand arise in an economy?

6. A government budget shows a primary deficit of Rs.4, 400 crores. The revenue expenditure on interest payment is Rs. 400 cr. How much is fiscal deficit?

7.If disposable income is Rs.1000 and saving is Rs.250, find out APC.

8.What is under-employment equilibrium?

9. Define price elasticity of supply?

10. Give two reasons for the problem of choice.

                                        Section B (3-marks)

11. Why does an economic problem arise?

12.What is opportunity cost of a given activity? Explain it with the help of an example.

13. State the ‘law of demand’ What is meant by the assumption ‘other things remaining the same’ on which the law is based?

14. What will be the price elasticity of supply if the supply curve is a positively sloped straight line?

15. Explain the relationship between MR and TR.