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CLASS—XII

Paper 1 3 Hours 100 Marks

Units Marks Periods

Part A: Introductory Microeconomics

1. Introduction 6 112. Consumer’s Equilibrium and Demand 16 343. Producer Behaviour and Supply 16 344. Forms of Market and Price Determination under

perfect competition with simple applications 12 31

50 110

Part B: Introductory Macroeconomics5. National Income and Related Aggregates 15 326. Money and Banking 8 187. Determination of Income and Employment 12 278. Government Budget and the Economy 8 179. Balance of Payments 7 16

50 110

PART A: INTRODUCTORY MICROECONOMICS

Unit 1: Introduction 11 Periods

Meaning of microeconomics and macroeconomics, Positive and NormativeEconomics.What is an economy? Central problems of an economy: what, how and for whomto produce; concepts of production possibility frontier and opportunity cost.

Unit 2: Consumer’s Equilibrium and Demand 34 Periods

Consumer’s equilibrium – meaning of utility, marginal utility, law of diminishingmarginal utility, conditions of consumer’s equilibrium using marginal utilityanalysis.Indifference curve analysis of consumer’s equilibrium – the consumer’s budget(budget set and budget line), preferences of the consumer (indifference curve,indifference map) and conditions of consumer’s equilibrium.

Syllabus.pmd 7/7/2016, 6:21 PM1

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Demand, market demand, determinants of demand, demand schedule, demandcurve, and its slope movement along and shifts in the demand curve; priceelasticity of demand — factors affecting price elasticity of demand; measurementof price elasticity of demand– (a) percentage change method and (b) geometricmethod (linear demand curve); relationship between price elasticity of demandand total expenditure.

Unit 3: Producer Behaviour and Supply 34 Periods

Meaning of Production Function: Short-Run and Long-RunTotal Product, Average Product and Marginal Product.Returns to a Factor.Cost: Short run costs – total cost, total fixed cost, total variable cost; averagecost, average fixed cost, average variable cost and marginal cost-meaning andtheir relationship.Revenue - total, average and marginal revenue meaning and their relationships.Producer’s equilibrium— meaning and its conditions in terms of marginalrevenue-marginal cost.Supply, market supply, determinants of supply, supply schedule, supply curveand its slope, movements along and shifts in supply curve, price elasticity ofsupply; measurement of price elasticity of supply – (a) percentage change methodand (b) geometric method.

Unit 4: Forms of Market and Price Determination underPerfect Competition with Simple Applications 31 Periods

Perfect competition – Features; Determination of market equilibrium and effectsof shifts in demand and supply.Other Market Forms – monopoly, monopolistic competition, oligopoly - theirmeaning and features.Simple Applications of Demand and Supply : Price ceiling, price floor.

PART B: INTRODUCTORY MACROECONOMICS

Unit 5: National Income and Related Aggregates 32 Periods

Some basic concepts: consumption goods, capital goods, final goods, intermediategoods; stocks and flows; gross investment and depreciation.Circular flow of income; Methods of calculating National Income–Value Addedor Product method, Expenditure method, Income method.Aggregates related to National Income: Gross National Product (GNP), NetNational Product (NNP), Gross and Net Domestic Product (GDP and NDP) - atmarket price, at factor cost; National Disposable Income (gross and net), PrivateIncome, Personal Income and Personal Disposable Income; Real and NominalGDP. GDP and Welfare.


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Unit 6: Money and Banking 18 Periods

Money— its meaning and functions.Supply of money— Currency held by the public and net demand deposits heldby commercial banks.Money creation by the commercial banking system.Central bank and its functions (example of the Reserve Bank of India): Bank ofissue, Govt. Bank, Banker’s Bank, Controller of Credit through Bank Rate,CRR, SLR, Repo Rate, Reserve Repo Rate, Open Market Operations, Marginrequirement.

Unit 7: Determination of Income and Employment 27 Periods

Aggregate demand and its components.Propensity to consume and propensity to save (average and marginal).Short-run equilibrium output; investment multiplier and its mechanism.Meaning of full employment and involuntary unemployment.Problems of excess demand and deficient demand; measures to correct them—changes in government spending, taxes and money supply.

Unit 8: Government Budget and the Economy 17 Periods

Government budget — meaning, objectives and components.Classification of receipts — revenue receipts and capital receipts; classificationof expenditure—revenue expenditure and capital expenditure.Measures of government deficit—revenue deficit, fiscal deficit, primary deficittheir meaning.

Unit 9: Balance of Payments 16 Periods

Balance of payments account—meaning and components; balance of paymentsdeficit-meaning.Foreign exchange rate-meaning of fixed and flexible rates and managed floating.Determination of exchange rate in a free market.


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CONTENTSCONTENTSCONTENTSCONTENTSCONTENTS

CBSE Question Papers 2016 Delhi (Solved) 1–24

CBSE Question Papers 2016 Outside Delhi (Solved) 25–45

CBSE Question Papers 2015 Delhi (Solved) 1–24

CBSE Question Papers 2015 Outside Delhi (Solved) 25–47

Sample Question Papers (Solved) S-1–S-12(Based on the Latest Guidelines Issued by CBSE)

Chapterwise Important Examination Style Questions (Solved)

(Part – A Introductory Microeconomics) 1–168

1. Introduction 2–13

2. Theory of Consumer Behaviour 14–57

3. Production and Costs 58– 85

4. The Theory of the Firm Under Perfect Competition 86–127

5. Market Equilibrium 128–151

6. Non-competitive Market 152–168

(Part – B Introductory Macroeconomics) 169–322

7. Introduction 170–173

8. National Income Accounting 174–219

9. Money and Banking 220–237

10. Income Determination 238–289

11. The Government: Function and Scope 290–304

12. Open Economy Macroeconomics 305–322

Value Based Questions (VBQs) 323–329

Content.pmd 7/14/2016, 6:14 PM1

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Model Question Papers for Practice M-1–M-36Model Question Paper–1 M-1–M-4

Model Question Paper–2 M-5–M-7









Content.pmd 7/14/2016, 6:07 PM2

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1

CLASS — XII (DELHI)

ECONOMICSTime Allowed : 3 Hours Maximum Marks : 100

General Instructions : (i) All questions in both the sections are compulsory. (ii) Marks for questions are indicated against each. (iii) 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. (iv) 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. (v) 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. (vi) 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. (vii) Answers should be brief and to the point and the above word limits should be

adhered to as far as possible.

SET—I

SECTION—A

Q.1. What is the relation between marginal cost and average variable cost when marginal cost is rising and average variable cost is falling?

Ans. When marginal cost is rising and average variable cost is falling, marginal cost lies below the average variable cost.

Q.2. Suppose total revenue is rising at a constant rate as more and more units of a commodity are sold, marginal revenue would be: (choose the correct alternative)

(a) Greater than average revenue (b) Equal to average revenue (c) Less than average revenue (d) RisingAns. (b) Equal to average revenue

Q.3. When does increase in demand take place?Ans. Increase in demand takes place due to change in factors other than price. It

happens because of an increase in income, increase in the price of substitute, decrease in the price of complement, positive change in taste and future expectations of increase in price.

Question Paper Economics-XII (Delhi).indd 1 7/14/2016 2:28:18 PM

C.B.S.E. QUESTION PAPERS—2016 (SOLVED)

MBD Sure Shot CBSE Sample PapersSolved Class 12 Economics 2017

Publisher : MBD GroupPublishers

ISBN : 9789351851585 Author : Panel Of Experts

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