BSEB Class XII Commerce Model Question Paper 2017 : biharboard.ac.in
Organisation : Bihar School Examination Board (BSEB)
Class : XII
Paper: Economics (Commerce)
Document Type : Model Question Papers
Year : 2017
Website : http://www.biharboard.ac.in/model-question-papers/
Download Question Paper : https://www.pdfquestion.in/uploads/10251-Commerce.pdf
Economics – Commerce Model Question Paper :
Instructions :
For Question Nos.I to 40 there are four alternative of which only one is correct.
Choose the correct alternative and mark it in the answer sheet.
(1) What is economics activity ?
(2) What is price elasticity of demand ?
Related : BSEB XII Economics Model Question Paper 2016 : www.pdfquestion.in/61.html
(3) What is short-run production function ?
(4) Demand curve o f a firm under perfect competition is perfectly elastic : Explain.
(5) With the help of demand and supply carves shout the minimum support price.
(6) What do you mean by Gross national product ?
(7) In an economy investment increases from Rs.-1000 crone to 1200 crone and as a result total income increased by Rs.-800 crone. Calculate MPC.
(8) Calculate MPC from the following data about an economy which is in equilibrium national income.
(9) What is the effect of revenue deficit ?
(10) What are the main characteristics of balance of payment ?
(11) Distinguish between Micro Economics and Macro Economics.
(12) Explain the distinction between law of demand and elasticity of demand..
(13) Discuss the main function of Reserve Bank of India as central Bank.
(14) What do you mean by aggregate demand ? Distinguish between market demand and aggregate demand.
(15) Define foreign exchange rate Differentiate between fixed and flexible exchange rates.
Section : 1
1. Which of the following economic activities are included in the subject-matter of Economics ?
(a) Economic Activities related to unlimited wants
(b) Economic Activities related to Limited Resources
(c) Both (a) and (b)
(d) None of these
2. Which Economist divided Economics in two branches of micro & macro on the basis of economic activity ?
(a) Marshall
(b) Ricardo
(b) Ragnar Frish
(d) None of these
3. Who said, “ Economics is a science of wealth, “ ?
(a) Marshall
(b) Robbins
(c) Adam Smith
(d) J.K. Mehta
4. Micro Economics includes :
(a) Individual unit
(b) Small units
(c) Individual Price determination
(d) All of these
5. Who gave the cardinal concept of utility ?
(a) Marshall
(b) Pigou
(c) Hicks
(d) Samuelson
6. For giffin goods, Price elasticity of demand is
(a) Negative
(b) Positive
(b) Zero
(d) None of these
7. An active factor of Production is
(a) Capital
(b) Labour
(c) Land
(d) None of these
8. Which of the following is not fixed cost ?
(a) Insurance Premium
(b) Interest
(c) cost of Raw material
(d) Rent of the factory
9. Which is a characteristic of the market ?
(a) One Area
(b) Presence of both Buyers and sellers
(c) Single Price of the commodity
(d) All the above
10. Market Price is found in
(a) Short Period
(b) long period Market
(c) Very long Period
(d) None of these
11. Who said, “ Price is determined by both Demand and supply forces “ ?
(a) Jevons
(b) Walras
(c) Marshall
(d) None of the above
17. Market situation where there is only one buyer is :
(a) Monopoly
(b) Monopsony
(c) Duropoly
(d) None of the above
18. The concept of monopolistic competition is given by
(a) Hicks
(b) Chamberlin
(c) Mrs. Robinson
(d) Samuelson
19. In very short period, supply will be :
(a) perfectly elastic
(b) Perfectly inelastic
(c) Elastic
(d) None of the above
20. Rent is = ?
(a) Actual Income – Transfer Earnings
(b) Actual Income + Transfer Earnings
(c) Transfer Earnings
(d) None of the above
21. Which of the following is a stock ?
(a) Wealth
(b) Saving
(c) Export
(d) Profit
22. Which service is included in Tertiary Sector
(a) Mining
(b) Construction
(c) Communication
(d) Animal Husband-ary
23. The Market price of all final goods and services produced in the domestic territory of a country in a year is known as :
(a) G D PMP
(b) G D PFC
(c) N N PFC
(d) None of the above
24. Which method is adopted in measuring national Income ?
(a) Production Method
(b) Income Method
(c) Expenditure
(d) All the above
25. N N PMP = ?
(a) G N PMP __ Depreciation
(b) G N PMP + Depreciation
(c) G N PMP + Indirect Tax
(d) None of the above
26. “ Money is what money does. “ who said it ?
(a) Hartley withers
(b) Haw trey
(c) Thomas
(d) Keynes
27. Which is the Primary function of commercial Banks ?
(a) Accepting Deposits
(b) Advancing Loas
(c) Credit creation
(d) All the above
28. Which is the central Bank in India ?
(a) Reserve Bank of India
(b) State Bank of India
(c) Central Bank of India
(d) Bank of India
29. With which Narsimham committee is relased to ?
(a) Tax Reforms
(b) Banking Reforms
(c) Agriculture Reforms
(d) Infrastructure Reforms
30. Banking Sector Reforms in India began in :
(a) 1969
(b) 1981
(c) 1991
(d) 2001