### 12th Standard CBSE Introductory Microeconomics and Macroeconomics Study material & Free Online Practice Tests - View Model Question Papers with Solutions for Class 12 Session 2019 - 2020 CBSE [ Chapter , Marks , Book Back, Creative & Term Based Questions Papers - Syllabus, Study Materials, MCQ's Practice Tests etc..]

#### CBSE 12th Introductory Microeconomics and Macroeconomics - Open Economy Macroeconomics Five Mark Model Question Paper - by Mita Das - Mysore - View & Read

• 1)

When exchange rate of foreign currency falls its demand rises. Explain how?

• 2)

Explain the effect of appreciation of domestic currency on imports.

• 3)

The balance of trade shows a deficit of Rs.5000 crores and the value of imports are Rs.9000 crores.

• 4)

State four sources each of demand for and supply of foreign exchange.

• 5)

Explain the causes of disequilibrium in the balance of payments.

#### 12th Standard CBSE Introductory Microeconomics and Macroeconomics - Government Budget and the Economy Five Mark Model Question Paper - by Mita Das - Mysore - View & Read

• 1)

What are the objectives of a budget?

• 2)

Explain the allocation function of a government budget.

• 3)

Explain the 'economic stability' objective of a government budget.

• 4)

Define externalities.Give an example of negative externality.What is its impact on welfare?

• 5)

What is a tax? Explain the different types of a tax

#### 12th Standard CBSE Introductory Microeconomics and Macroeconomics - Income Determination Five Model Question Paper - by Mita Das - Mysore - View & Read

• 1)

How do we find that$K=\frac { 3 }{ 1-MPC }$?

• 2)

Explain the meaning of underemployment equilibrium.Explain two measures by which full employment equilibrium can be reached.

• 3)

Define investment.Explain national income equilibrium through saving and investment function.Aso explain the changes that take place in an economy when the economy is not in equilibrium.

• 4)

Explain the relationship between multiplier and MPC

• 5)

Explain monetary measures for correcting inflationary and deflationary gap.

#### 12th CBSE Introductory Microeconomics and Macroeconomics - Money and Banking Three Mark Model Question Paper - by Mita Das - Mysore - View & Read

• 1)

State the four functions of money. Describe any one.

• 2)

Give meaning of money. Explain its medium of exchange function.

• 3)

What is 'Barter'? Explain 'standard of deferred payment' function of money.

• 4)

Explain the evolution of money?

• 5)

What is ideal supply of money?

#### 12th Standard CBSE Introductory Microeconomics and Macroeconomics - Introductory Macroeconomics Three Mark Question Paper - by Mita Das - Mysore - View & Read

• 1)

Give five variables of macroeconomics.

• 2)

What is the difference between microeconomics and macroeconomics?

• 3)

What are the important features of a capitalist economy?

• 4)

Describe the Great Depression of 1929.

• 5)

Mention any two macroeconomics events.

#### CBSE 12th Standard Introductory Microeconomics and Macroeconomics - National Income Accounting Five Mark Question Paper - by Mita Das - Mysore - View & Read

• 1)

What efforts should be made in an economy to avoid continuous use of exhaustible natural resources in production?

• 2)

Exports receipts are not a part of net factor income from abroad. Why?

• 3)

Will the following be included in domestic factor income of India? Give reasons for your answer.

(i) Profits earned by a foreign bank from its branches in India

(ii) Scholarships given by Government of India

(iii) Profits earned by a resident of India from his company in Singapore

(iv) Salaries received by Indians working in American Embassy in India

• 4)

Explain the expenditure method of estimating National Income.

• 5)

How will you treat the following while estimating domestic product of India?

(i) Rent received by a Indian resident from his property in Singapore

(ii) Salaries to Indians working in Japanese Embassy in India

(iii) Profits earned by a branch of an American Bank in India

(iv) Salaries paid to Koreans working in Indian Embassy in Korea

#### 12th CBSE Introductory Microeconomics and Macroeconomics - The Theory of the Firm Under Perfect Competition Three Mark Question Paper - by Mita Das - Mysore - View & Read

• 1)

What are the characteristics of perfectly competitive market?

• 2)

What is the 'price line'?

• 3)

What is the relation between market price and average revenue of a price-taking firm?

• 4)

Will a profit-maximizing firm in a competitive market produce a positive level of output in the short-run if the market price is less than the minimum of AVC? Give an explanation.

• 5)

What is the supply curve of a firm in the short-run?

#### 12th CBSE Introductory Microeconomics and Macroeconomics - Production and Cost Five Mark Question Paper - by Mita Das - Mysore - View & Read

• 1)

Giving reason, state whether the following statements are true or false:

(i)Increase in Total Product always indicates that there are increase returns to a factor.

(ii) Marginal Revenue is always the price at which the last unit of commodity is sold.

(iii)When these are diminishing returns to a factor Marginal and Total Product both always fall.

• 2)

Explain the Law of variable proportions through the behaviour of both Total Product and Marginal Product Give reasons.

• 3)

State the different phases of changes in Total Product and Marginal Product in the law of variable proportions.Also, show the same in a single diagram.

• 4)

Explain with the help of a numerical example different phases in the Law of Variable Proportions

• 5)

Distinguish between (i) Fixed Cost and Variable Cost.giving examples and (i)Average Cost and Marginal Cost giving an example.

#### 12th CBSE Introductory Microeconomics and Macroeconomics - Theory of Consumer Behaviour Five Mark Question Paper - by Mita Das - Mysore - View & Read

• 1)

A consumer buys 8 units of a good at a price of Rs.7 per unit.When price rises to Rs.8 per unit, he buys 7 units.Calculate price elasticity of demand through the expenditure approach.Comment upon the shape of demand curve based on this information.

• 2)

When the price of a commodity falls by Rs.2 per unit.Its quantity demanded increases by 10 units.Its price elasticity of demand is (-) 1.Calculate its quantity demanded at the price before change which was Rs.10 per unit.

• 3)

Quantity demanded of a commodity rises by 6 units when its price falls by Rs.1 per unit.Its price elasticity of demand is (-) 1.If the price before the change was Rs.20 per unit, calculate quantity demanded at this price.

• 4)

How is equilibrium of the consumer affected when $MU_{ M }$ happens to rise, and ${ P }_{ X }$ is constant?

• 5)

Explain the concept of Marginal Rate of Substitution (MRS) by giving an example.What happens to MRS when consumer moves downwards along the indifference curve?Give reasons for your answer.

#### 12th CBSE Introductory Microeconomics and Macroeconomics - Introductory Microeconomics Five Mark Question Paper - by Mita Das - Mysore - View & Read

• 1)

Distinguish between microeconomics and macroeconomics.

• 2)

Demand for electricity has 'increased'. however, supply cannot be increased due to lack of resources. Explain how, in any two ways demand for electricity can be decreased

• 3)

How are decision taken by consumer and producers in a market coordinated?

• 4)

Unemployment is reduced due to the measures taken by the government. State its economic value in the content of Production possibilities Frontier.

• 5)

What is the slope of PPC? What does is show?

#### 12th Standard CBSE Market Equilibrium Model Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

What is the effect of excess supply on market price?

• 2)

Who has developed the FAD Theory?

• 3)

When does the normal price determine?

• 4)

What will the effect be on equilibrium price due to more decrease in demand than supply?

• 5)

When demand decreases and supply is perfectly inelastic, what will the effect on equilibrium price?

#### 12th CBSE Macroeconomics Unit 10 Open Economy Macroeconomics Model Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

Market, where the national currencies are traded for one another, is known as ___________

• 2)

Hybrid in management of fixed and flexible exchange rate is known as__________

• 3)

When there is unfavorable balance of trade?

• 4)

The deficit in the trade balance is Rs. 300 crores. The value of exports is Rs.500 crores. What is the value of import be?

• 5)

Other things remaining the same, when in a country the market price of foreign currency falls, national income is likely:

#### 12th CBSE Macroeconomics Government Budget and the Economy Model Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as

• 2)

Which of the following is the components of a budget?

• 3)

The amount collected by the government as taxes and duties is known as_________

• 4)

Primary deficit in a government budget is:

• 5)

Direct tax is called because it is collected directly from:

#### 12th Standard CBSE Macroeconomics Income Determination Model Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

According to classical economists, real wage rate is______to the Marginal Productive of Labour.

• 2)

What will be APC when APS=0?

• 3)

If the income is Rs 100 crores and consumption is Rs 80 crores, what will be the APS?

• 4)

If the income is Rs 400 crores and consumption is Rs 250 crores, what will be the APC?

• 5)

Who did develop the concept of multiplier at first?

#### 12th Standard CBSE Macroeconomics Unit 7 Money and Banking Model Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

Money is mean not a............... .

• 2)

What type of demand is the demand for money?

• 3)

Which of the following is the feature of money?

• 4)

Which of the following is the narrow measure of money supply?

• 5)

Money Supply in India is based on.................... .

#### 12th Standard CBSE National Income Accounting Sample Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

What is the main objective of National Income Accounting?

• 2)

Which of the given accounting year is followed in India?

• 3)

${ NDP }_{ FC }=$

• 4)

If the private income is Rs 200 crores, the corporation tax and undistributed profit is Rs 25 crores, what will the personal income be?

• 5)

If the personal income is Rs 1,000 and the income tax is 10 percent, calculate Disposable Income.

#### 12th CBSE Introductory Macroeconomics Sample Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

What is known as the study of individual units?

• 2)

Study of aggregates is known as ________.

• 3)

When was the famous book of Prof. Keynes published?

• 4)

Who is the father of modern macroeconomics?

• 5)

Mr. Skund Kumar wants to study the national income. Which branch of economics will he have to study?

#### 12th CBSE Microeconomics Unit 4 The Theory of the Firm under Perfect Competition Important Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

Producing maximum with minimum cost is known as ___________.

• 2)

In the situation of producers equilibrium, MR is __________ to MC.

• 3)

Which among the following is the method of working out producer's equilibrium?

• 4)

From where can we define the slope of the MR curve?

• 5)

Which among the following is the cause of extension and contraction in supply?

#### 12th Standard CBSE Microeconomics Unit 3 Production and Cost Important Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

Which among the following is the factor of production?

• 2)

Total Product (TP)=

• 3)

Marginal product (MP) =

• 4)

Returns to scale operates in the --------------- run.

• 5)

Returns to a factor operates in------------

#### 12th CBSE Microeconomics Unit 2 Theory of Consumer Behaviour Important Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

Getting maximum satisfaction by consumer with his given income is known as_______.

• 2)

What is the slope of the budget line?

• 3)

What is the slope of indifference curve?

• 4)

With the increase in price, total expenditure increases and with the fall in price, total expenditure also falls.What will be the elasticity of demand?

• 5)

Price elasticity of demand is 0.5 and the percentage change in price is 4.What will be the percentage change in quantity demanded?

#### 12th Standard CBSE Microeconomics Important Question Paper - by Roopa Srinivas - Vadodara - View & Read

• 1)

What is the effect of excess demand on market price?

• 2)

Among whom does the competition arise due to excess demand?

• 3)

What is the relationship between demand and supply in the controlled prices?

• 4)

When does the normal price determine?

• 5)

Which of the following is an economic activity?

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 10 - by Bala - View & Read

• 1)

Which of the given accounting year is followed in India?

• 2)

Which of the following is the method of measuring National Income?

• 3)

Why are the intermediate goods not included in the National Income while measuring National Income?

• 4)

Which of the following is the feature of money?

• 5)

What is the function of money?

#### 12th Introductory Microeconomics And Macroeconomics Term Test - by Bala - View & Read

• 1)

What is the relationship between demand and supply in the controlled prices?

• 2)

What is the relationship between demand and supply in the support price process?

• 3)

Who has developed the FAD theory?

• 4)

The main cause of economic problems is ________.

• 5)

Economics is a ______ science.

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 9 - by Bala - View & Read

• 1)

Which of the following is a type of imperfectly competitive market?

• 2)

Supernormal profits imply

• 3)

What is the profit at the 'break-even point'?

• 4)

When different prices are charged for the same commodity,it is known as------------------

• 5)

In which market, a firm is a price taker?

#### Market Equlibium - Important Questions Model Paper In 12th Introductory Microeconomics And Macroeconomics - by Bala - View & Read

• 1)

What is the effect of excess demand on market price?

• 2)

Among whom does the competition arise due to excess demand?

• 3)

What is the relationship between demand and supply in the support price process

• 4)

When does the normal price determine?

• 5)

When demand decreases and supply is perfectly inelastic, what will the effect on equilibrium price?

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 1 - by Bala - View & Read

• 1)

Market, where the national currencies are traded for one another, is known as ___________

• 2)

What is the cause of devaluation of any country's currency?

• 3)

Hybrid in management of fixed and flexible exchange rate is known as__________

• 4)

How many accounts of balance of payment are there?

• 5)

Other things remaining the same, when in a country the market price of foreign currency falls, national income is likely:

#### Government Budget And The Economy - Important Questions Model Paper In 12th Introductory Microeconomics And Macroeconomics - by Bala - View & Read

• 1)

An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as

• 2)

Fiscal deficit is the difference between the government's total expenditure and its total receipts excluding_________

• 3)

What is the annual statement of government's fiscal expenditure known?

• 4)

The amount collected by the government in the form of interest, fees and dividends is known as ___________

• 5)

Direct tax is called because it is collected directly from:

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 8 - by Bala - View & Read

• 1)

What is the shape of the Keynesian Aggregate Supply before the level of full employment is attained?

• 2)

What will be APC when APS=0?

• 3)

If the income is Rs 400 crores and consumption is Rs 250 crores, what will be the APC?

• 4)

Which is the measure of correcting deflationary gap?

• 5)

If MPC=1, the value of multiplier is:

#### Money And Banking - Important Questions Model Paper In 12th Introductory Microeconomics And Macroeconomics - by Bala - View & Read

• 1)

What is the defect of barter system?

• 2)

Which of the following is the feature of money?

• 3)

Which of the following is the function of a commercial bank?

• 4)

Which is the most liquid measure of money supply?

• 5)

Which of the following is the function of a Central bank?

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 7 - by Bala - View & Read

• 1)

What is the main objective of National Income Accounting?

• 2)

${ GDP }_{ MP }$

• 3)

${ NNP }_{ MP }=$

• 4)

• 5)

Which method of National Income Accounting is developed by UNO?

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 6 - by Bala - View & Read

• 1)

Producing maximum with minimum cost is known as ___________.

• 2)

In the situation of producers equilibrium, MR is __________ to MC.

• 3)

From where does the MC curve cuts the MR curve in the situation of equilibrium?

• 4)

Which among the following is the method of working out producer's equilibrium?

• 5)

Which among the following is the cause of extension and contraction in supply?

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 5 - by Bala - View & Read

• 1)

Which among the following is the factor of production?

• 2)

Does the Average Product is zero,Total Product will be-----------

• 3)

Which among the following is the type of Fixed Cost in the short-run?

• 4)

Average Cost (AC)=

• 5)

why is the Average Cost curve $\cup -$shaped?

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 4 - by Bala - View & Read

• 1)

Want satisfying power of a commodity is known as________________.

• 2)

What is the slope of the budget line?

• 3)

In the consumer's equilibrium, the budget line ________ the indifference curve.

• 4)

Goods whose demand decreases with the increase in income?

• 5)

If Marginal Rate of Substitution is increasing throughout, the indifference curve will be:

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 3 - by Bala - View & Read

• 1)

What is known as the study of individual units?

• 2)

What are the methods of economic analysis?

• 3)

Are micro and macroeconomics dependent on each other?

• 4)

What is the name of the book written by J.M. Keynes?

• 5)

When was the famous book of Prof. Keynes published?

#### 12th Introductory Microeconomics And Macroeconomics Model Question Paper 2 - by Bala - View & Read

• 1)

What is the effect of excess demand on market price?

• 2)

What is the effect of excess supply on market price?

• 3)

Who has developed the FAD theory?

• 4)

What is called the increased shortage of goods above the determined price through rationing?

• 5)

When demand decrease and supply is perfectly inelastic, what will the effect on equilibrium price?

#### CBSEStudy Material - Sample Question Papers with Solutions for Class 12 Session 2019 - 2020

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