Maharashtra Msbshse Class 12 Economics — Real Previous-Year Papers

Give the economic term: Cost incurred on fixed factor.

Give an economic term: The cost incurred by the firm to promote sales.

Give an economic term: A budget in which estimated revenue and expenditure of the government are equal.

Find the odd word: Types of utility: Place utility, Form utility, Time utility, Commodity utility

Find the odd word: Exceptions to the Law of supply: Giffen’s goods, Supply of labour, Perishable goods, Rare goods

Find the odd word out: Selling cost: Free gifts, Advertisement hoardings, Window displays, Patents

Find the odd word: Determinants of demand: Income, Cost of production, Size of population, Price

Find the odd word: Types of Index Numbers: Selection Index Number, Price Index number, Value Index Number, Quantity Index Number

Demand curve is parallel to ‘Y’-axis - Perfectly inelastic demand Relatively inelastic demand Perfectly elastic demand Unitary elastic demand (a) c, d (b) b, d (c) a, b, c (d) only a

Revenue per unit of output sold - Marginal revenuе Marginal cost Average revenue Total revenue (a) a, b, c (b) a, c, d (c) only c (d) only b

Statements that are incorrect in relation to index numbers - Index number is a geographical tool. Index numbers measure changes in the air pressure. Index numbers measure relative changes in economic variable. Index numbers are specialized averages. (a) c, d (b) a, b (c) b, c (d) a, b, c, d

Obligatory functions of the government - Provision of employment Maintaining internal law and order Welfare measures Exporting goods and services (a) c, d (b) a, b (c) only b (d) a, c, d

Examples of competitive demand are - Tea - Coffee Car - Petrol Sugar - Jaggery Pen - Ink (a) a, b, c (b) a, c (c) b, c (d) a, b, c, d

Identify and explain the following concepts: Shabana paid wages to workers in her factory.

Identify and explain the concept from the given illustration: India purchased petroleum from Iran.

Identify and explain the following concepts: Gopal collected information about output of rice, wheat, cotton and jowar produced in 2016 and 2020 and derived Index Number.

Identify and explain the following concepts: 40% fall in price of a commodity leads to 40% rise in quantity demanded.

Identify and explain the concept from the given illustration: Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year.

Distinguish between the following. Micro Economics and Macro Economics.

Distinguish between expansion in demand and increase in demand.

Distinguish between average revenue and average cost.

Distinguish between s imple index numbers and weighted index numbers.

Distinguish between the following concept: Direct tax and Indirect tax.

Explain the concept of foreign trade.

Explain the types of foreign trade.

Explain any four features of utility.

Explain the Ratio method of measuring price elasticity of demand.

Explain any four non-tax sources of public revenue.

Calculate Price Index Number from the given data: | Commodity | A | B | C | D | | --- | --- | --- | --- | --- | | Price in 2015 (₹) | 6 | 16 | 24 | 4 | | Price in 2020 (₹) | 8 | 18 | 28 | 6 |

State with reasons whether you agree or disagree with the following statement: Perfect Competition means Monopolistic Competition.

State with reasons whether you agree or disagree with the following statement: Scope of micro economics includes only the theory of product pricing.

State with reasons whether you agree or disagree with the following statement: There are many features of National Income.

State with reasons whether you agree or disagree with the following statement: Public expenditure includes only revenue expenditure.

State with reasons whether you agree or disagree with the following statement: The concept of total utility and marginal utility is the same.

Observe the following figure and answer the questions given lowing below it: Identify and explain the degree of elasticity of demand in the figure.

Observe the following figure and answer the questions given lowing below it: Identify and explain the degree of elasticity of demand in the figure.

Observe the following table and answer the questions given below it: | Price in ₹ | Qty. supplied in units | | --- | --- | | 10 | 200 | | 15 | .......... | | 20 | 300 | | 25 | 350 | | 30 | .......... | | 35 | .......... | | 40 | .......... | Complete the above supply schedule. ( 2) Draw a diagram for the above supply schedule. (2)

Study the following passage and answer the questions given below it: | Digital marketing is also called online marketing. We can connect with probable customers by using internet and other digital communication media. This includes not only email, social media, and web-based advertising but also text and multimedia messages as a marketing channel. In practice, digital marketing typically refers to marketing campaigns that appear on a computer, phone, tablet or other devices. It can take many forms, including online video, display advertisement, search engine marketing, paid social advertisement and social media post. Digital marketing is often compared to traditional marketing such as magazine advertisement, direct mail, etc. In America, nearly three quarters of Americans go online on a daily basis. Not only that, 43% go online more than once a day and 26% are online almost constantly so they find it more convenient to use digital marketing. A digital marketing strategy allows you, to get advantage of different digital channels such as social media, pay-per-click, search engine, e-mail marketing etc., to connect with existing customers and individuals interested in your product or service. As a result one can build a brand, which provides a great customer experience. | | --- | Questions: What is Digital marketing? (1) What percentage of Americans are online more than once? (1) Write your opinion from the above passage. (2)

State and explain the ‘law of demand’ with its exceptions.

Write any four practical difficulties in national income estimation.

Explain the functions of RBI.