NIOS CLASS 12 ECONOMICS NOTES FOR 2020 EXAMS
1. At a price of R 10 per unit the demand of a commodity is 200 units. Its price elasticity of demand is (-)1×5. At what price will the demand be 250 units?
2. Distinguish between real and nominal gross domestic products.
3. Explain the following characteristics of perfect competition :
(a) Homogeneous product
(b) Free entry and exit
4. Distinguish between the following :
(a) Explicit costs and implicit
costs
(b) Private costs and social
costs
5. Explain any three main objectives of budgetary policy.
6. From the following data, compute Paasche’s Price Index Number for the current year :
Items
|
Base Year
|
Current Year
|
||
Price
|
Quantity
|
Price
|
Quantity
|
|
A
|
2
|
12
|
10
|
16
|
B
|
4
|
14
|
8
|
14
|
C
|
6
|
16
|
6
|
12
|
D
|
8
|
18
|
4
|
10
|
7. State any three properties of indifference curve.
8. State two
properties of Production Possibility Curve.
9. Price
elasticity of demand of a
good is (-)2. A consumer demands 100 units of this good when its price is Rs. 8 per
unit. At what price he will demand 80 units of this good?
10. Distinguish
between final goods and intermediate
goods. Give one example of
each.
11. Describe any two exceptions to the law of demand
12. Describe any six characteristics of a
perfectly competitive market
13. Describe
any four uses of 'Index
Numbers'.
14. Explain the relationship between Total Physical Product, Average Physical Product and Marginal Physical Product. Use diagram or a numerical example
15. Aconsumer
consumes two goods X
and Y. Explain the conditions of his equilibrium using utility approach.
16. Describe
the drawback of Barter System.
 | IMPORTANT QUESTIONS FOR EXAM){kind=link}