Gujarat Board Class 12 Economics Sample Papers 2011

Class XII

Subject – Economics

Time: 3 Hours + 15 Min (Extra)                     Total Marks : 100

General Instruction:

(i). All Question are compulsory.
(ii). There is no negative marking for any wrong answer.
(iii). Questions are in two sections. Section – I (40 marks), Section – II (60 marks).
(iv). There are internal options is some of the long answer type questions. In such questions you have to answer any one of the alternative.
(v). Answer should be in your own language.
(vi). No electronic gadgets like calculator, call phone, pager are allowed during exam.
(vii). The answer of objective type question is to be given on supplied OMR sheet by completely darking the
appropriate answer option. For example if answer is (c) the you should fill it as shown by blue/black pen.

From Question No. 1 to 4 there is one correct answer. In each question you have to mark that correct option from the given options.                              34 × 1 = 34

1. Which one is true?
(a) GNP = GDP + Depreciation                      (b) NNP = GNP + Depreciation
(c) NNP = GNP – Depreciation                       (c) GNP = NNP – Depreciation

2. Which one of the following is included in flow?
(a) Consumption        (b) Investment         (c) income             (d) All the above

3. Price of commodity is determined at a point where-
(a) allemande exceeds         (b) Supply exceeds         
(c) demand equals supply    (c) None of these

4- For every market which condition has to be fulfilled for firm's equilibrium?)
(A) AR = MC                                          (B) MR = MC
(C) Me should cut MR from below        (D) both b and

II.    In the following questions (5-9) there are two Assertion. Assertion (A) follows Reasoning (R). You have to go through these Reasoning and mark you answer from the given options.

(A)  Both A and R are true and R is the correct explanation for A.
(B)  Both A and R are true but R is not the correct explanation for A.
(C)  A is true but R is false   
(D)  A is false but R is true.

5-    Statement -I : Equilibrium is a state in which there is a tendency to change.
         Statement-II Equilibrium is a state in which there is no tendency to change.

6-    Statement -I : Direct tax is the tax irnich final born of the tax falls on the person who pays It con rot be shifted on others.
         Statement-II Direct tax is the tax irnich final born of the tax falls on the person who pays It con rot be shifted on others.

7-    Statement -I : Average cost (AC) = Total cost(TC)/out put
         Statement-II The cost per unit of Production is known as Average cost.

8-    Statement -I : Demand Schedule expresses reaction between fris of goods and quantity Purchased at there pries.
         Statement-II when demand Schedule is represents on a graph there it is called Demand Curve.

9-    Statement -I : TU = ∑ (MU)
         Statement-II Total utility is the  sum of marginal utilities obtained from different units of consumption.

Question No. 1 to 10 carry 3 marks each. These questions are of short answer type.           10 × 3 = 30

1.    Due to 15% decline in price of a good, its demand gets increase from 1,000 units to 1,200 units. Calculate the 
elasticity of demand by percentage method.

2.    What is money cost ?

3.    What is meant by price discrimination ?

4.    State the two basic principles of circular flow of income.

5.    Define the concept of the domestic product at market price.

6.    What is average propensity to same ?

7.    Why does the problem of choice arise ?

8.    What do you understand by substitute goods ?

9.    What is Investment ? Multiplier & give a formulae of Investment Multiplier.

10.    What is current Deposited Account ?

Long Answer Type Questions

Question No. 11 to 15 carry 6 marks each. These questions are of long answer type.         5 × 6 = 30

11.    What do you mean by Exchange Rate ? Explain the main factors which influencing Exchange Rates.)

12.    What are the objectives of Budget ?

13.    Calculate the following from the information of an economy.
        (A)    Domestic Income    (B) National Income    

Items                                                Rs. (Crores)
(i)    Rent                                                 4000
(ii)    Wage                                               8000
(iii)    Dividend                                         2000
(iv)    Interest                                           300
(v)    Undistributed profit                         200
(vi)    Mixed income                                 300
(vii)  Contribution in social security         500
(viii)  Corporate profit tax                        300
(ix)    Net factor income from abroad      1100

14.    What are the main features of perfect competition ?

15.    What are total cost, Average cost and Marginal cost ? Explain the relationship between Average cost and Marginal cost with the help of diagram.