+2 Micro-Economics - Question Paper

These questions are made for the syllabus of C.B.S.E affiliated schools only.

If you're able to complete these questions correctly, you're having almost no problem in the Mico-Economics part of your 10+2 N.C.E.R.T textbook. 
The question are from all chapters, except Consumer Equilibrium.

Time: 3 Hours (Try to complete all the questions in 3 hrs)

Maximum Marks: 100 

General Instructions:

i)   Paper is divided into 4 sections. All sections are compulsory.

ii)  Section A contains 10 questions of 1 mark each. Answer had to be either in one line or a word and to the point.

iii)  Section B contains 10 questions of 3 marks each.

iv)  Section D contains 6 questions of 4 marks each.

v)   Section D contains 6 questions of 6 marks each.

vi)   Draw and label the figures properly, with pencil.

Section-A 

1. Give differences between positive and normative economics.
2. Give difference between shift and rotation of Production Possibility Curve (PPC).
3. Give any two reasons for decrease in demand.
4. Define inferior goods.
5. Define Price Elasticity of Demand.
6. What do you understand by Production Function?
7. Define selling cost with example.
8. Why difference between Total Variable Cost(TVC) and Total Cost(TC) always remain the same?
9. Define Shut Down point.
10. Define Markets.

  

Section-B 

1. Why more is purchased on less price?
2. Elasticity of demand is -2 and percentage increase in quantity demanded is 20%. Find percentage change in price.
3. Define oligopoly with features.
4. Explain any central problem of economy.
5. Explain revenue Curves under Monopoly and Monopolistic Markets.
6. Comment on the price of steal on development of infrastructure.
7. Why is law of Increasing Return to Factor applicable?
8. Seller or Producer is a Price taker and not Price Maker, under Perfect Competition Market. Why?
9. Give exceptions to the law of demand.
10. Why short-run average cost curve is U-Shaped? 
    
    
    
    

 
Section -  C

1. Give difference between Extension and Increase in supply.
2.  
3. Explain Equilibrium position, when demand and supply both changes.
4. Compare Monopoly and Monopolistic Competition.
5. Explain Total Expenditure method of Price Elasticity of Demand.
6. Can Marginal Revenue(MR) be zero or negative? When and Why?
   

Section - D

1. Explain TR/TC approach of calculating Producer's equilibrium.
2. Explain Geometric Method of determining elasticity of supply.
3. Explain degrees to determine Price Elasticity of demand.
4. Comment on Producer's equilibrium during short period and long period.
5. Explain Law of Variable Proportions.
6. Comment on  Market equilibrium, when Market Demand changes.

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