CBSE Class 12th Economics 2017 board exam question paper (All India, Set 1) is available here for download in PDF format. This paper was held on 17th April 2017. With this article, students can download the complete question paper with the help of download link given at the end of this article. This question paper is helpful in understanding the latest examination pattern of CBSE 12th Economics board exam. Solution of this question paper will be available very soon.
General Instructions for the paper
• Question Nos. 1 – 5 and 16 – 20 are very short-answer questions carrying 1 mark each. They are required to be answered in one sentence each.
• Question Nos. 6 – 8 and 21 – 23 are short-answer questions carrying 3 marks each. Answers to them should normally not exceed 60 words each.
• Question Nos. 9 – 11 and 24 – 26 are also short-answer questions carrying 4 marks each. Answers to them should normally not exceed 70 words each.
• Question Nos. 12 – 15 and 27 – 30 are long-answer questions carrying 6 marks each. Answers to them should normally not exceed 100 words each.
• Answers should be brief and to the point and the above word limits should be adhered to as far as possible.
Some randomly selected questions from the question paper are given below:
Question: Any statement about demand for a good is considered complete only when the following is/are mentioned in it (Choose the correct alternative):
(a) Price of the good
(b) Quantity of the good
(c) Period of time
(d) All of the above
Question: Demand for a good is termed inelastic through the expenditure approach when if (Choose the correct alternative)
(a) Price of the good falls, expenditure on it rises
(b) Price of the good falls, expenditure on it falls
(c) Price of the good falls, expenditure on it remains unchanged
(d) Price of the good rises, expenditure on it falls
Question: Define indifference curve.
Question: A seller cannot influence the market price under (Choose the correct alternative)
(a) Perfect competition
(c) Monopolistic competition
(d) All of the above
Question: State any one feature of monopolistic competition
Question: Give the meaning and characteristics of production possibility frontier.
Question: Explain the problem of ‘‘how to produce’’.
Question: Distinguish between ‘increase in demand’ and ‘increase in quantity demanded’ of a good.
Question: Explain the meaning of ‘Budget set’ and ‘Budget line’.
Question: Explain with the help of a numerical example, the meaning of diminishing marginal rate of substitution.
Question: Define market supply. Explain the factor ‘input prices’ that can cause a change in supply.
Question: Give the behaviour of marginal product and total product as more and more units of only one input are employed while keeping other inputs as constant.
Question: Explain ‘‘perfect knowledge about the markets’’ feature of perfect competition.
Question: When the price of a good rises from Rs. 10 per unit to Rs. 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs. 10 per unit to Rs. 13 per unit?
Question: Distinguish between perfect oligopoly and imperfect oligopoly. Also explain the ‘‘interdependence between the firms’’ feature of oligopoly.
Question: Explain the meaning of excess demand and excess supply with the help of a schedule. Explain their effect on equilibrium price.
Question: Explain the ‘‘bankers’ bank’’ function of the central bank.
Question: Explain the process of credit creation by commercial banks.
Question: Distinguish (a) between current account and capital account, and
(b) between autonomous transactions and accommodating transactions of balance of payments account.
Question: Explain the precautions that should be taken while estimating national income by expenditure method.
Question: Will the following be included in the domestic product of India? Give reasons for your answer.
(a) Profits earned by foreign companies in India
(b) Salaries of Indians working in the Russian Embassy in India
(c) Profits earned by a branch of State Bank of India in Japan