nvsrochd.gov.in : Class XII Economics Question paper Navodaya Vidyalaya Samiti
Board : Navodaya Vidyalaya Samiti
Exam : Class XII Economics
Document Type : Study Material
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Economics Question Paper :
FORMS OF MARKET AND PRICE DETERMINATION
VERY SHORT ANSWER QUESTIONS (1 MARK)
Q1. Define market.
Q2.Give two features of Perfect competition.
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Q3. Give two features of Monopoly.
Q4. Give two features of Monopolistic competition.
Q5. Under which market form a firm is a price taker?
Q6. What are selling cost?
Q7. What do you mean by time element?
Q8. What are advertisement costs?
Q9. Why AR=MR under perfect competition?
Q10. What do you mean by abnormal profit?
Q11. How many firms are there in monopoly?
Q12. What is price discrimination?
Q13. What is product differentiation?
Q14. What is oligopoly?
Q15. What is cartel?
Q16. What is patent life?
Q17. What is Duopoly?
Q18. In which market form is there product differentiation?
Q19. What is the profit maximization condition for a monopoly firm?
Q20. What is break even point?
Q21. What is the meaning of equilibrium price?
Q22.Give the meaning of excess demand for a product.
Q 23. Who determine price under perfect competition?
Q24 Explain market equilibrium.
Q25. How does an increase in input price affect the equilibrium quantity
SHORT ANSWER QUESTIONS (3/4 MARKS)
Q1. Distinguish between monopoly & perfect competition.
Q2 Briefly discuss the main features of monopolistic competition.
Q 3. What is price discrimination?
Q 4.What are the reasons which give emergence to the monopoly market?
Q5. What are the three main features of Oligopoly?
Q6. Why is the demand curve facing a monopolistic competition firm likely to be more elastic?
Q7. Explain briefly why a perfectly competitive firm is a price taker in the market.
Q8. What is meant by a product being perfectly homogenous? What is its implication for the price charged by producer in the market?
Q9. What is the nature of demand curve of a perfectly competitive firm?
Q10.Explain’ free entry and free exit of firms’ feature of perfect competition.
Q11. Explain the process of price determination under perfect competition with the help of a schedule & a diagram.
Q 12. What would be effect on equilibrium price when there is a change in both demand and supply?
(b) (A) When increase in demand is more than increase in supply.
(b) ( B) When increase in supply is more than increase in demand.
Q 13. How is equilibrium price determined.
Consumer Equilibrium and Demand
Q1. Define total utility.
Q2. Define Marginal utility.
Q3. How is marginal utility derived from total utility.
Q4. State the law of diminishing marginal utility.
Q5. What is the shape of marginal utility curve?
Q6. Define difference curve.
Q7. Define budget line.
Q8. What is MRS?
Q9. What is consumer’s equilibrium?\
Q10. State the condition of consumer’s equilibrium in case of single commodity.
Q11. Give the meaning of demand
Q12. Name three determinants of demand for commodity other than its prices
Q13. What is demand curve?
Q14. What is the Law of demand?
Q15. Give an example of a pair of commodities that are substitutes of each other.
Q16. Define normal goods.
Q18. When is a good called an ‘ inferior good’?
Q19.How is the market demand curve derived from individual demand curve?
Q20. Define market demand.
Q21. Define price elasticity of demand.
Q22.Whether demand for luxuries is elastic or inelastic?
Q23. What are giffen goods?
Q24. State one factor that causes increases in demand for a goods.
Q25. When demand for a good falls due to rise in price of the good alone, what is change in demand called?
Theory Of Consumer Behaviour :
Q. 1 Define the following;
1. Demand
2. Market demand
3. Individual demand schedule
4. Market demand curve
5. Substitute goods
6. Complementary goods
2 State law of demand .Explain it with the help of a demand schedule
3 What are the determinants of market demand?
4 How the demand for a commodity affected by the price of its related goods?
5 How the Income of a consumer affect the demand for a commodity Explain with suitable diagram.
6 Explain with the help of diagram that price of related goods affect the demand for the concerned good.
7 Differentiate extension of demand and increase in demand.
8 What is the difference between decrease in demand and contraction of demand?
9 How the movement along demand curve (change in quality demanded) is different from shift of demand curve (change in demand)
10 When, a fall in demand is called contraction of demand, and when, it is called decrease in demand. State the causes of decrease in demand.