Economics  – Important Question Bank for West Bengal Class XII HS (HSC) Board Exam 2017

HSC Board Exams are fast approaching and students are getting anxious about how to prepare for their HSC Board Exams. So we had mentioned some HSC Study Tips to help students in Cracking HSC Exams.

After the tremendous success of our last year Important Questions Bank for West Bengal Class XII HS (HSC) Board Exam 2016, we have also created a list of Most Important Question Bank for West Bengal Class XII HS (HSC) Board Exam 2017 which are likely to appear in HSC Board Exams this year.

West Bengal hs class XII

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1.Explain any two functions of money.

2. Explain any two objectives of a government budget.

3. Explain two merits each of flexible foreign exchange rate and fixed foreign exchange rate.

4. While estimating national income, how will you treat the following? Give reasons for your answer.

(i) Imputed rate of self occupied houses.

(ii) Interest received on debentures.

(iii) Financial help received by flood victims

5.  Describe the evolution of money.

6. Give the meaning of revenue deficit, fiscal deficit and primary deficit.

7. Distinguish between balance on trade account and balance on current account.

8. State three main functions of a commercial bank. Explain any one of them.

9. Distinguish between domestic product and national product. When can domestic product be more than national product?

10. Give the meaning of factor income to abroad and factor income from abroad. Also give an example of each.

11. Explain the effect of the following on the market demand of a commodity

(i) Change in price of related goods

(ii) Change in the number of its buyers

Output (Units) Total Revenue (Rs.) Marginal Revenue (Rs.) Average Revenue (Rs.)
0 — -90 —
100 0.6 — —
200 0.6 — —
300 0.6 — —

12. Define equilibrium price of a commodity. How is it determined? Explain with the help of a schedule.

13. With the help of a demand and supply schedule, explain the meaning of excess demand and its effect on price of a commodity.

14. Given below is a cost and revenue schedule of a producer. At what level of output is the producer in equilibrium? Give reasons for your answer.

Output (Units)                  Price (Rs.)                     Total Cost (Rs.)

1                                                 10                                         13
2                                                10                                         22
3                                                10                                         30
4                                                10                                         38
5                                                10                                         47
6                                                10                                          57
7                                                10                                          71

15. The price elasticity of supply of commodity Y is half the price elasticity of supply of commodity X. 16 percent rise in the price X results in a 40 percent rise in its supply. If the price of Y falls by 8 percent, calculate the percentage fall in its supply.

16. Explain any two main features of perfect competition.

17. Explain two points of distinction between monopoly and monopolistic competition.

18. Explain the effect of fall in prices of other goods on the supply of a given good.

19. Explain the problem of ‘for whom to produce’.

20. Why do problems related to allocation of resources of resources in an economy arise? Explain.

21. What is meant by inferior good in economics?

22. Define marginal cost.

23. Give one reason for a rightward shift in supply curve.

24. Why is average total cost greater than average variable cost?

25. State the law of demand and show it with the help of a schedule.

26  Explain the geometric method of measuring price elasticity of demand.

27.. Why do problems related to allocation of resources of resources in an economy arise? Explain.

28. Give the meaning of opportunity cost.

29. Complete the following table:

utput (Units) Total Revenue (Rs.) Marginal Revenue (Rs.) Average Revenue (Rs.)

1 — — 8
2 — 4 —
3 12 — 4
4 4 — 2

30. Giving reasons, state whether the following statements are true or false:

(i) Average cost falls only when marginal cost falls.

(ii) The difference between average total cost and average variable cost is constant.

(iii) When total revenue is maximum, marginal revenue is also maximum.

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