{"id":40894,"date":"2022-01-24T12:31:50","date_gmt":"2022-01-24T07:01:50","guid":{"rendered":"https:\/\/infinitylearn.com\/surge\/?p=40894"},"modified":"2023-12-28T16:23:59","modified_gmt":"2023-12-28T10:53:59","slug":"cbse-sample-paper-for-class-12-economics-2014-paper-2","status":"publish","type":"post","link":"https:\/\/infinitylearn.com\/surge\/study-materials\/sample-paper\/class-12\/economics-2014\/paper-2\/","title":{"rendered":"CBSE Sample Paper For Class 12 Economics 2014 Paper 2"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_37 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' style='display:block'><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/infinitylearn.com\/surge\/study-materials\/sample-paper\/class-12\/economics-2014\/paper-2\/#General_Instructions\" title=\"General Instructions:\">General Instructions:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/infinitylearn.com\/surge\/study-materials\/sample-paper\/class-12\/economics-2014\/paper-2\/#SECTION_A\" title=\"SECTION A\">SECTION A<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/infinitylearn.com\/surge\/study-materials\/sample-paper\/class-12\/economics-2014\/paper-2\/#OR\" title=\"OR\">OR<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"General_Instructions\"><\/span><strong>General Instructions:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>All questions in both the sections are compulsory.<\/li>\n<li>Marks for questions are indicated against each.<\/li>\n<li>Question No. 1-5 and 17-21 are very short answer questions carrying 1 mark for each part.<\/li>\n<li>Question Nos. 6-10 and 22-26 are short answer questions carrying 3 marks each. Answer to them should not normally exceed 60 words each.<\/li>\n<li>Question Nos. 11-13 and 27-29 are also short answer questions carrying 4 marks each. Answer to them should not normally exceed 70 words each.<\/li>\n<li>Question Nos. 14-16 and 30-32 are long answer questions carrying 6 marks each. Answers to them should not normally exceed 100 words each.<\/li>\n<li>Question Marked star (*) are value-based questions.<\/li>\n<li>Answers should be brief and to the point and the above word limits be adhered to as far as possible.<\/li>\n<\/ul>\n<hr \/>\n<h3><span class=\"ez-toc-section\" id=\"SECTION_A\"><\/span><strong>SECTION A<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>1. Name the economic value achievable when attempts are made to increase resources in the country.<\/strong><\/p>\n<p><strong>2.<\/strong> <strong>Define market supply.<\/strong><\/p>\n<p><strong>3.<\/strong> <strong>When is supply of a good said to be perfectly price inelastic?<\/strong><\/p>\n<p><strong>4. Give two examples of fixed costs.<\/strong><\/p>\n<p><strong>5.<\/strong>  <strong>Define demand.<\/strong><\/p>\n<p><strong>6. Explain any two causes of \u2018\u2018decrease\u2019\u2019 in supply of a commodity.<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"OR\"><\/span><strong>OR<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Explain any two causes of a rightward shift of supply curve.<\/strong><\/p>\n<p><strong>7. Why does the problem of \u2018how to produce\u2019 arise? Explain.<\/strong><\/p>\n<p><strong>8. Calculate marginal cost at each level of output:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td>Output (units)<\/td>\n<td>1<\/td>\n<td>2<\/td>\n<td>3<\/td>\n<td>4<\/td>\n<td>5<\/td>\n<td>6<\/td>\n<\/tr>\n<tr>\n<td>Average variable cost (Rs)<\/td>\n<td>24<\/td>\n<td>22<\/td>\n<td>20<\/td>\n<td>18<\/td>\n<td>18<\/td>\n<td>20<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>9. From the following data calculate price elasticity of supply:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td><strong>Price per unit (Rs)<\/strong><\/td>\n<td>10<\/td>\n<td>12<\/td>\n<\/tr>\n<tr>\n<td><strong>Total Revenue (Rs)<\/strong><\/td>\n<td>2000<\/td>\n<td>2400<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>10. A and B are complementary goods. Explain the effects of change in price of A on demand for B.<\/strong><\/p>\n<p><strong>11. Explain the distinction between the equations of budget line and budget constraint.<\/strong><\/p>\n<p><strong>12. The price elasticity of demand of a good is (\u2013) 1. At a price of Rs 40 per unit its demand is 500 units. At what price will its demand increase by 20 percent?<\/strong><\/p>\n<p><strong>13. Define monopoly. State the main features of monopoly.<\/strong><\/p>\n<p><strong>14. From the following data find out the level of output at which the producer is in equilibrium. Give reasons for your answer. (Use marginal cost, marginal revenue approach)<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td>Output (units)<\/td>\n<td>Total Revenue (Rs)<\/td>\n<td>Total Cost (Rs)<\/td>\n<\/tr>\n<tr>\n<td>1<\/td>\n<td>12<\/td>\n<td>14<\/td>\n<\/tr>\n<tr>\n<td>2<\/td>\n<td>24<\/td>\n<td>26<\/td>\n<\/tr>\n<tr>\n<td>3<\/td>\n<td>36<\/td>\n<td>36<\/td>\n<\/tr>\n<tr>\n<td>4<\/td>\n<td>48<\/td>\n<td>48<\/td>\n<\/tr>\n<tr>\n<td>5<\/td>\n<td>60<\/td>\n<td>62<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>15. Explain the characteristics of indifference curves.<\/strong><\/p>\n<p><strong>OR<\/strong><\/p>\n<p><strong>Explain the conditions of consumer\u2019s equilibrium using utility analysis.<\/strong><\/p>\n<p><strong>16. Explain the meaning of excess supply. Explain its chain of effects on price, demand and supply of the commodity. Use diagram.<\/strong><\/p>\n<p><strong>SECTION B<\/strong><\/p>\n<p><strong>17. Give two examples of revenue expenditure.<\/strong><\/p>\n<p><strong>18. Give the meaning of depreciation.<\/strong><\/p>\n<p><strong>19. What is statutory liquidity ratio?<\/strong><\/p>\n<p><strong>20. Define domestic product.<\/strong><\/p>\n<p><strong>21. Define domestic product.<\/strong><\/p>\n<p><strong>22. In an economy planned spending is greater than planned output. Explain all the changes that will take place in the economy.<\/strong><\/p>\n<p><strong>23. Distinguish between Balance of trade and Balance on current account of the Balance of Payments account.<\/strong><\/p>\n<p><strong>24. Explain the \u2018unit of account\u2019 function of money.<\/strong><\/p>\n<p><strong>OR<\/strong><\/p>\n<p><strong>Explain the role of central bank as the \u2018Bankers\u2019 Bank\u2019.<\/strong><\/p>\n<p><strong>25. Distinguish between stocks and flows. Give an example of each.<\/strong><\/p>\n<p><strong>26. Explain the meaning of average propensity to consume. What is its relation with average propensity to save?<\/strong><\/p>\n<p><strong>27. From the following data calculate \u2018\u2018Net value added at factor cost\u2019\u2019:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td><\/td>\n<td><\/td>\n<td>(Rs in Lakhs)<\/td>\n<\/tr>\n<tr>\n<td>(i)<\/td>\n<td>Sales<\/td>\n<td>400<\/td>\n<\/tr>\n<tr>\n<td>(ii)<\/td>\n<td>Change in stock<\/td>\n<td>(-) 20<\/td>\n<\/tr>\n<tr>\n<td>(iii)<\/td>\n<td>Intermediate consumption<\/td>\n<td>200<\/td>\n<\/tr>\n<tr>\n<td>(iv)<\/td>\n<td>Net indirect taxes<\/td>\n<td>40<\/td>\n<\/tr>\n<tr>\n<td>(v)<\/td>\n<td>Exports<\/td>\n<td>50<\/td>\n<\/tr>\n<tr>\n<td>(vi)<\/td>\n<td>Depreciation<\/td>\n<td>30<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>OR<\/strong><\/p>\n<p><strong>Is gross domestic product a true index of economic welfare of the people? Give two reasons in support of your answer.<\/strong><\/p>\n<p><strong>28. How does the central bank control credit creation in the economy through \u2018\u2018Bank Rate\u2019\u2019? Explain.<\/strong><\/p>\n<p><strong>29. Government takes measures to restrict autonomous imports of gold. Explain the economic values desired to be achieved from this.<\/strong><\/p>\n<p><strong>30. Distinguish between:<\/strong><\/p>\n<p><strong>(a) Direct tax and Indirect tax<\/strong><\/p>\n<p><strong>(b) Primary deficit and Revenue deficit.<\/strong><\/p>\n<p><strong>31. (a) Distinguish between autonomous consumption and induced consumption.<\/strong><\/p>\n<p><strong>(b) From the following data about an economy, calculate its equilibrium level of income:<\/strong><\/p>\n<p>(i) Autonomous consumption = 400<\/p>\n<p>(ii) Marginal propensity to consume = 0.5<\/p>\n<p>(iii) Investment = 4000<\/p>\n<p><strong>32. Calculate national income:<\/strong><\/p>\n<table class=\"mbile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td><\/td>\n<td><\/td>\n<td>(Rs in Crores)<\/td>\n<\/tr>\n<tr>\n<td>(i)<\/td>\n<td>(i) Net current transfer from rest of the world<\/td>\n<td>30<\/td>\n<\/tr>\n<tr>\n<td>(ii)<\/td>\n<td>Private final consumption expenditure<\/td>\n<td>400<\/td>\n<\/tr>\n<tr>\n<td>(iii)<\/td>\n<td>Net domestic capital formation<\/td>\n<td>100<\/td>\n<\/tr>\n<tr>\n<td>(iv)<\/td>\n<td>Change in stock<\/td>\n<td>50<\/td>\n<\/tr>\n<tr>\n<td>(v)<\/td>\n<td>Depreciation<\/td>\n<td>20<\/td>\n<\/tr>\n<tr>\n<td>(vi)<\/td>\n<td>Government final consumption expenditure<\/td>\n<td>200<\/td>\n<\/tr>\n<tr>\n<td>(vii)<\/td>\n<td>Net exports<\/td>\n<td>40<\/td>\n<\/tr>\n<tr>\n<td>(viii)<\/td>\n<td>Net indirect taxes<\/td>\n<td>80<\/td>\n<\/tr>\n<tr>\n<td>(ix)<\/td>\n<td>Net factor income paid to abroad<\/td>\n<td>10<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong> <\/strong><\/p>\n<p><strong>OR<\/strong><\/p>\n<p><strong>From the following data calculate personal disposable income:<\/strong><\/p>\n<table class=\"mobile\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr>\n<td><\/td>\n<td><\/td>\n<td>(Rs in Crores)<\/td>\n<\/tr>\n<tr>\n<td>(i)<\/td>\n<td>Net domestic product at factor cost<\/p>\n<p>accruing to private sector<\/td>\n<td>800<\/td>\n<\/tr>\n<tr>\n<td>(ii)<\/td>\n<td>National Debt interest<\/td>\n<td>50<\/td>\n<\/tr>\n<tr>\n<td>(iii)<\/td>\n<td>Current transfers from government<\/td>\n<td>70<\/td>\n<\/tr>\n<tr>\n<td>(iv)<\/td>\n<td>Savings of private corporate sector<\/td>\n<td>200<\/td>\n<\/tr>\n<tr>\n<td>(v)<\/td>\n<td>Corporation tax<\/td>\n<td>40<\/td>\n<\/tr>\n<tr>\n<td>(vi)<\/td>\n<td>Direct taxes paid by households<\/td>\n<td>30<\/td>\n<\/tr>\n<tr>\n<td>(vii)<\/td>\n<td>Depreciation<\/td>\n<td>60<\/td>\n<\/tr>\n<tr>\n<td>(viii)<\/td>\n<td>Net factor income from abroad<\/td>\n<td>20<\/td>\n<\/tr>\n<tr>\n<td>(ix)<\/td>\n<td>Net current transfers to abroad<\/td>\n<td>(-)10<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>General Instructions: All questions in both the sections are compulsory. Marks for questions are indicated against each. Question No. 1-5 [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"Class 12 EconomicsCBSE Sample Paper 2014 Paper 2","_yoast_wpseo_metadesc":"General Instructions:All questions in both the sections are compulsory.Marks for questions are indicated against each.Question No. 1-5 and 17-21 are very short answer questions carrying 1 mark for each part.Question Nos. 6-10 and 22-26 are short answer questions carr","custom_permalink":"study-materials\/sample-paper\/class-12\/economics-2014\/paper-2\/"},"categories":[21],"tags":[],"table_tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Class 12 EconomicsCBSE Sample Paper 2014 Paper 2<\/title>\n<meta name=\"description\" content=\"General Instructions:All questions in both the 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