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Economics (2016-17) Set 2 QP

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Sample Question Paper (Set 2) Subject: ECONOMICS (030) Class XII (2016-17) Time : 3 Hours Maximum Marks : 100 Instructions: 1. All questions in both sections are compulsory. However, there is internal choice in some questions. 2. Marks for questions are indicated against each question. 3. Question No.1-5 and 16-20 are very short answer questions carrying 1 mark each. They are required to be answered in one sentence. 4. Question No.6-8 and 21-23 are short answer questions carrying 3 marks each. Answers to them should not normally exceed 60 words each. 5. Question No.9-11 and 24-26 are also short answer questions carrying 4 marks each. Answers to them should not normally exceed 70 words each. 6. Question No.12-15 and 27-30 are long answer questions carrying 6 marks each. Answers to them should not normally exceed 100 words each 7. Answers should be brief and to the point and the above word limit be adhered to as far as possible. Section A: Microeconomics 1. When is a consumer said to be rational? (1) 2. Define normative economics, with a suitable example. (1) 3. State the meaning of `quantity demanded of a commodity`. (1) 4. If a firm s production department data says that the total variable cost for producing 8 units and 10 units of output is 2,500 and 3,000 respectively, marginal cost of 10th unit will be a. 100 b. 150 c. 500 d. 250 (1) 5. State any one assumption for the construction of the curve that shows the possibilities of potential production of two goods in an economy. (1) 6. State the behavior of Marginal Physical Product, under Returns to a Factor. (3) 7. Using appropriate schedules, briefly describe the determination of market equilibrium. (3)

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