ISC Class 12 Economics Sample Paper. Sample papers and question papers for ICSE and ISC students. These question papers have been collected by the best teachers from ICSE and ISC schools. Students should download and practice these papers to gain better marks in examinations.
Q1. What is meant by Balance of Current Account?
Q2.(i) Briefly explain how fiscal policy can be used to achieve any two macro goals of the government.
(ii) Based on the given information state whether total expenditure will increase or decrease:
(a) Pricex increases and x has elastic demand.
(b) Price Y,decreases andy has Y inelastic demand.
(iii) What is the significance of :
(a) an indifference curve being convex to the origin?
(b) the point of inflexion on the total product curve?
Q3.a). What is the diffrence between Quotas ans Tariffs ? Under what circumstances are they implemented by the Government?
b)How does fiscal policy help in attaining external equilibrium ans price stability?
Q4. When does marginal utility become negative?
Q5. Distinguish between:
(a) autonomous and accommodating flows.
(b) gross and net profits.
Q6. Briefly explain the following:
(a)composite demand
(b) SDRs
(c) forfeiture
(d) Ad Valorem taxes
Q7. a) Explain briefly the output method of measurement of national income.
b). What is the basis of international trade according to the theory of comparative cost advantage?
Q8. Define transfer earning?
Q9. State Wagner’s Law?
Q10.(a) What is 'equilibrium price'? Explain how it is determined in a market economy.
(b) State the Law of Diminishing Marginal Utility. How does this law help explain consumer behavior theory in micro economics?
(c) With referenceto the Law of Variable Proportions explain in which stage of production a rational producer would operate.
Q11.What explanation did Marshall provide for the surplus earned by factors whose supply is Inelastic in the short run?
Please click below link ISC Class 12 Economics Sample Paper.