CBSE Class 12 Economics Sample Paper 2012 Solved Set A

SECTION-A

1. Sta te two features of resources that give rise to an economic problem. 

2. What happens to total expenditure on a commodity when its price falls and its demand is price elastic?

3.What happens to equilibrium price of a commodity if there is an ‘increase’ in its demand and ‘decrease’ in its supply?

4. Give the meaning of equilibrium price. 

5. Wh at is meant by cost in economics? 

6. Sta te any three factors that cause an ‘increase’ in demand of a commodity. 

7.What will be the price elasticity of supply at a point on a positively sloped, straight line supply curve?

8.Explain the shape of a production possibility frontier

9. Ho w does the nature of a commodity influence its price elasticity of demand? 

10.Explain the changes that will take place in the market for a commodity if the prevailing market price is less than the equilibrium price.

11. Calculate the price elasticity of demand for a commodity when its price increases by 25% and quantity demanded falls from 150 units to 120 units.

12.Explain the relation between marginal revenue and average revenue when a firm is able to sell more quantity of output

     (i) at the same price.

     (ii) only by lowering the price. 

Please refer to attached file for CBSE Class 12 Economics Sample Paper 2012 Solved Set A