Ch-

NEEMA COMMERCE INSTITUTE

sUBJECT-MICROECONOMICS CHAPTER 1
CLASS XIth
TIME: 45 MIN. M.M. 20

Instructions:

1. Questions 1 to 3 carry 1 mark each.

2. Questions 4 carries 2 mark each.
3. Question 5 carries 4 marks each.
4. Question 6 carries 5 marks.
5. Question 7 carries 6 marks.
TUTE
QuestionsS
1. Which of the following is the example of economi activity?
(a) Production (b) Consumption
(c) Exchange (d) All of these
2. Who controls economics activities
under centrally planned
economies?
(a) Industrialists (b) Private firms
(c) Government d) Consumers
3. Define economics.
4. State the fundamental Fact that has led to the emergence of economic
problem.
5. Distinguish between positive and normative economics.
6. Distinguish between microeconomics and macroeconomics.
7. What is meant by an economy? What are its different types?
 NEEMA COMMERCE CLASSESS
Ch
Class:-11th CENTRAL PROBLEMS OF ECONOMY M.M. 20

Subject:- ECONOMICS Session- 2018-19 Time 1.00 Hr.

Q.1. Define opportunity cost. (1)

Q.2. Define marginal rate oftransformation (1)
Q.3.How isproduction posiblity frontier affected when
resources are
nefficiently employed inaneconomy? (3)
Q.4. Why isproduction pomilbilitierc u v e downward doping? Explain.(2)
Q.5. Why isproduction pomibilitiercuve concave? (2)
Explain
Q.6. With the help of suitable example explain the problemmof for whomto
produce. Or
Explain the centralproblem for whomto produce. (3)
Q.7. Write the aumptions ofproductionpombility curve (2
Q.8.Suppose an economy produces only two good, namely wheat & cloths
with ityawailable resourcen
Following table showr
different poibilitiey of
production of wheat & cdoth Calculate the marginal opportunity cot of
cloth at various combinations Aluo, draw theproductiowposibility curve
Also, comment on it.
Cloth (Thousand bales) Wheat (lakh tonne
100
1 90
2 70
3 40
4
(6)
 NEEMA COMMERCE CLASSES Ch-3
Class- 12th consumer behavior-utility analysis
M.M.: 18
Subject:- ECONOMICS Session 2018-19 Time 45 min.

Q.1. Define marginal utility

(1)
Q.2. At what rate TU increases when MU is diminishing (1)
Q.3.Explain the Law of Diminishing Marginal Utility with the help of Total Utility schedule.

(3)
Q.4. Explain the relationship between Total Utility & Marginal Utility (3)
Q.5. What is the difference between cardinal utility & ordinal
utility. (2)
Q.6. Calculate Total utility from the following
Marginal utility schedule
Units 0 2 4 5 6 7
MU 10 8 4 2 -2

Q.7. Explain the conditions of consumer's equilibrium under

utility Analysis. (2)
Q.8. A consumer consumes only two goods. Explain consumer's
of utility analysis.
equilibrium with the Help
(6)
 PAPER-IIIRD Ch-
CONSUMER'S EQUILIBRIUM (UNDER IC ANALYSIS) M.M.:25
Class:- 12th
Time:45MIN.
Subject: ECONOMICSs

Q.1. What is meant by MonotonioPreferences ? (1)

Q.2. Explain why the budget une irdownward dopingg? (1)

Q.3. Explain the meaning of diminishing MarginalRate of Substitution
with the help of a numerical example. (3)
Q.4. Explain the properties of the ndifference cuve (5)

Q.5. Explainthe condition of conumer'y equilibrium with thehely of

Indifference Curve Analyis (5)

Q.6. Suppose a comsumer c a n afford to buy 6 unity of good x & 8 unity of

goodY, ifhe spends her entire income The prices oftuwo goods a r e Ry 6 &
Rx 8,respectiwely. How much is consmery income? (2)
Q.7. A conumer wanty to conmumne two goods Theþríces of thetwo goods
are Rx 4 & Rx 5, respectively. The consumer's income is Ry 20.

( Write down the equation of the budget ine

Ci) How muchofgoodX can the conumer conume, if she spends
her entire income on that good?2
entire
Ciui) How much ofgood Y c a n she comume if he spendsher
income on that good ?

(iv) What is the lope ofthe budget ine? (4)

along his IC inwa ituation when
Q.8. How wilthe consumer move

MRSxy> Pr/Py ? (2)

Q.9. How willthe c o n s m e r

move alonghis IC i n a ituation when
(2)
MRS Px?py?
 Ch-s6

NEEMA COMMERCE INSTITUTE

sUBJECT ECONOMICSs
CLASS 11TH
TIME-45 MIN. M.M.-45

Q.1. What do you mean by a normal good ? (1)

Q.2. What do you mean by complements ? Give examples of two goods which are complements
of each other.
(1)
a.3. What do you mean by giffen goods? (1)
Q.4. Ceteris paribus, if the government provides subsidies on electricity bills, what would be the
likely change in the market demand of desert coolers ? (1)
Q.5. Explain the law of demand with the help of a demand schedule. (3)
Q.6. Explain any four factors affect the demand schedule. (4)
Q.7. Give any two cases where law of demand doesn't apply. (2)
Q.8. Differentiate between movement along demand curve & shift in dem urve.
(anythree) (3)
Q.9. Explain with the help of diagrams, the effect of the following changes on the demand of a
commodity:
(a) Fall in the price of substitute good

(b) Fall in the income of buyer (5)

Q.10. Why demand curves slopes downward ?(anyfour reasons) (4)
 Ch S /
Class:- 12th
NEEMA COMMERCE CLASSES M.M. 25
Subject: ECONOMICS Time:45 min.
Theory of demand &
Elasticity of Demand
Session 2018-19
Q.1.What do you mean by substitutes? Give examples of two goods which are
complements of each other.
OR
Define Market Demand. Give 2 factors name which affect it.
Q.2. Distinguish between Increase in Demand & Extension of Demand.
(1)
Q.3. Explain Price Elasticity of Demand ?
(1)
Q.4. Consider the demand for good, At
a
price Rs. 4, the demand for the good is 25 units.
Suppose the price of the good increases to Rs. 5, & as a result, the demand for the good falls
to 20 units. Calculate the
price elasticity. (3)
Q.5. Consider the demand curve D(p)=10-3p. What is the elasticity at price 5/3?
OR
Q.6. Suppose the price elasticity of demand for is -0.2. If there is a 5% increase in the
a good
price of the good, then by what percentage will the demand for the good go down'? (3)
Q.7. Give any three factors that can causea
rightward shift of demand curve. (3)
Q.8.Distinguish between an inferior good &a normal good. Is a good which is inferior for
one consumer also inferior for all the consumers?
Explain. (3)
Q.9.Define Demand. State the factors affecting demand for a
commodity
by a consumer. (5)
OR
Distinguish between 'movement along a demand curve' & 'Shift in demand curve',
Q.10. Explain with the help of diagram, the effect of the following changes on the demand
for a commodity:
i) A rise in the price of substitute goods
(ii) A rise in the price of complementary go0od
OR
What is the degree of elasticity of demand in case of the following demand curves:-
i) Straight line parallel to X-axis
(ii) Straight line parallel to Y-axis
(ii) A rectangular hyperbola curve
(5)
 PAPER-IIIRD
Class: 11th CONSUMER'S EQUILIBRIUM (UNDER IC ANALYSIS) M.M. : 25
Subject: ECONOMICS Time :45 MIN.

Q.1. What iu meant by

Monotonic Preferences? (1)
Q.2. Explain why the budget ine is downward loping ? (1)
Q.3.Explain the meaning ofdiminishing Marginal Rate ofSubstitution
with thehelp of a numerical
example (3)
Q.4. Explain the properties of the indifference curve
(5)
Q.5.Explain the conditionw of conumeryequilibrium with the help of
Indifference Cunve Analysi (5)
Q.6. Suppose a consumer canafford to buy 6 unity of good x & 8 unityof
good Y, ifhe spends her entire income. The prices of tuwo goods are Ry 6 &
Ry. 8,respectiwely. How much is consumer'y income? (2)
Q.7. A consumer wanty to consume two
goods Theprices of the two good
are Ry 4 & Ry 5, respectively. The conumery income is R 20.
(Write down the equation of the budget line
( ) How much ofgoodX can the consumer consume, if she spends
her entire incomne o n that
good?
Ciui) How much ofgood Ycan she conume if she spends her entire
income on that good ?
(iv) What is the slope of the budget line? (4)
Q.8. How willthe consumer move along his IC ina situation when
MRSxy Pr/Py ? (2)
Q.9. How wiu the conumer move along his IC ina ituation when
MRS<Pxpy ?
(2
 NEEMA COMMERCE CLASSES
Ch
CLASS-12th
SUBJECT- ECONOMICS
TOPIC-2-PRODUCER BEHAVIOUR-PAPER-1

MARKS-30 PRODUCTIONFUNCTION &RETURN TO AFACTOR TIME:-50 Min.

General lInstruction:
1. Question-1-2 (1 mark each). 2. Question-3-5( 2 marks each).
3. Question-6-7 (3 marks each). 4. Question-8-9(5 marks each).
5. Question-10 (6 mark)
Q.1. Give meaning of "return to a factor"
Q.2. Define Production Function.
Q.3. Define Marginal product, Average Product, Total Product.
Q.4. Explain the Concept of short-run & the Long run.
Q.5. What is the Law of Diminishing Marginal Product.
Q.6. Complete the
following table
Unit of Labour Average Product Marginal Product
(units) (units)
1 8
2 10

10
4

4
6 7

Q.7 What is the relevance of stages (or phases) of production to the producer?
Q.8 What causes increasing return to a factor?
Q.9 Explain the relationship between the Marginal product & total product of an
input.
Q.10 Giving reasons, explain the "Law of Variable Proportions."
 NEEMA cOMMERCE CLASSES Ch-
Class 12th PRODUCTioN TO MARKET
M.M. 20
Subject:- ECONOMICS Session 2018-19 Time:45min.
Explain following
(A) LAW OF VARIABLE PROPORTION (SCHEDULE WITH CURVE).
(6)
(B) PRODUCER EQUILIBRIUM WITH MR-MC APPROACH.
(6)
(C)WHY IN A PERFECT COMPITION FIRM IS A PRICE TAKER ?
(2)
(D) WHY IN A MONOPOLY FIRM IS A PRICE MAKER ?
(2)
(E) WHY IN MONOPOLISTIC COMPETITION FIRM PARTIALY CONTROL
PRICES(2)
(F) PRICE DISCRIMINATION
(2)
 NEEMA COMMERCE CLASSES
Ch
CLASS-12th
CONCEPT OF COST
MARKS-25 TIME:-50 Min.
All questions are compulsory.
Q.1. Fixcd cost are also known as:-
(a) Supplementary costs (b) Overhead Costs
(c) Indirect costs (d) all of these (1)
Q.2. TVC can be calculated as:
(a) AVCIQ (b) EMC
(c) TC-TFC (d) both (b) & (¢) (1)
Q.3. Define Opportunity Cost. (1)
Q.4. Differentiate between Explicit Cost & Implicit Cost.(any two) (2)
Q.5. Distinguish between fixed & variable cost. Give one example of each. (2)
O.6. Find out 1C given the follow ing information on MC for a firm which has spent
Rs. 50 thousand on its establishment even when output was zero.
Output (units) 3 4 6
MC (Rs. Thousand) 7 5 4 2
(2)
Q.7. Why is the Short run Marginal Cost Curve 'U shaped ? (3)
Q.8. Complete the following table:-

Output (units) Average Cost (Rs.)Marginal Cost (Rs.)

1 12
2 10
3 10
10.5
11
17
(3)
0.9. Define Cost. State the relation between marginal cost & average cost with the
help of a diagram. (4)
Q.10. The following table shows the total cost schedule of a firm. What is the total
fixed cost schedule of the firm? Calculate the TVC,AFC,AVC,SAC & SMC
schedules of the firm.

Q 2 3 4 5 6
TC 10 30 45 55 70 90 120
6)

CODE005896789 Page 1
 NEEMACOMMERCE INSTITUTE Ch 91o2
Class: 12th MARKET concept M.M. 30
Session- 2018-19 Time 60 min.
Subject: ECONOMICS
Q.1. Suppose the demand & supply curves of salt are given by :-
Qu= 1000-P, Q, = 700+2P
(a) Find the Equilibrium Price & Quantity.
(b) Now suppose that the price of an input used to produce salt has increased so that
the new supply curve is
Q,= 400+2P
How does the equilibrium price & quantity change ? Does the change confirm
to your expectation?
(c) Suppose the government has imposed a tax of Rs. 3 per unit on sale of salt. How
does it affect the equilibrium price & quantity? (6)
Q.3. What is price ceiling? Explain its implications. (6)
Q.4. Market of a good is in cquilibrium. There is increases in demand for the good. Explain
the chain of effects of this change. (6)
Q.5. What are the effects of price floor on the market of good ? Use diagram (6)
Q.6. Explain MR-MC approach of producer equilibrium. (6)
 NEEMA OMMERCE CLASSES ch u/i
Class:- 1th MARKET concept M.M. 2p 50
Subject: ECONOMICS Session - 2018-19
Time 45 min.
Q.1. Suppose the demand & supply curves of salt are given by :
Q4 1000-P, Q, 700+2P
(a) Find the Equilibrium Price & Quantity.
(b) Now suppose that the price of an input used to produce salt has increased so that
the new supply curve is
Q=400+2P
How does the equilibrium price & quantity change ? Does the change confirm
to your expectation?
(c) Suppose the government has imposed a tax of Rs. 3 per unit on sale of salt. How
does it affect the
cquilibrium price & quantity? (6)
Q.2. Show with the help of
diagrams, the effect on equilibrium price & quantity when -
(a) demand is perfectly elastic &
supply decreases.
(b) Supply is perfectly inelastic & demand increases.
Q.3. What is price ceiling? Explain its
implications (6)
Q.4. Market of a good is in
the chain of effects of this
equilibrium. There is increases in demand for the good. Explain
change. (6)
Q.5. What are the effects of price floor on the market of good ? Use diagram (6)
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 THE INSTITUTE
THE NEEMA COMMERCE INSTITUTE
CBSE EXAMINATION-2020-21
CLASS XIth
Time: 60 min. SUBJECT- MICRO ECONOMICS-11 M.M.- 30

Q.1. Distinguish between Increase in Demand & Extension of Demand.

(1)
Q.2. All the except.
curves are U shaped curves:
a) Average fixed cost curve (b) Average variable cost curve
(c) Average cost curve (d) Marginal cost curve (1)
Q.3. Expansion in demand occours due to:
(a) Rise in price of the given commodity /(b) Fall in price of the given commodity
(c) Rise in price of substitute goods (d) Fall in price of complementary goods (1)

Q.4.State the distinction between explicit cost and implicit cost. Give an example of each.

(1)
Q.5. When the prices of a commodity is Rs. 20 per units, its
quantity demanded is 800
units. When its prices rises by Rs. 5
per unit, its quantity demanded falls by 20 per
cent. Calculate its price elasticity of demand. Is its demand elastic?
Give reason for
your answer.
(3)

Q.6. Calculate TFC, TVC, ATC, AVC, and MC:

Output (units) 0 1 2 3 4
6
TC(Rs.) 60 80 100 111 116 130 150
(3)
Q.7. Discuss the relationship between: (i) MP and TP; (i) AP and MP.
(5)
Q.8. What are the different phases in the law of variable proportions in terms of marginal
products? Give what reason behind each phase. Use diagram. (5)

Q.9. Define Demand. State the factors affecting demand for a

commodity by a consumer. (5)
.10. Explain with the help of diagram, the effect of the following changes on the demand
for a commodity:
)A rise in the price of substitute goods
(i) A rise in the price of complementary good
 NEEMA COMMERCE INSTITUTE
CLASS XIth
Time:- 120 MIN. SUBJECT- MICRO ECONOMICs M.M.: 50
Q.1. All the curves
except. are U shaped curves:
(a) Average fixed cost curve (b) Average variable cost curve
(c) Average cost cunve (d) Marginal cost curve
Q.2. What is the general (1)
shape of the TP, AP and MP curves? (1)
Q.3. Expansion in demand occours due to:
(a) Rise in price of the given commodity (b) Fall in
price of the given commodity
(c) Rise in price of substitute goods (d) Fall in price of complementary goods
Q.4. If MU,/P,> MU,/P, then to reach the (1)
equilibrium position, consumer should:
(a) stop buying any commodity. (b) buy both the commodities in equal quantity
(c) Buy more of X and less of Y (c) Buy more of Y and less of X (1)
Q.5. Explain why a production
possibilities curve is concave. (1)
Q.6. Define normative economics with a
suitable example.
Q.7. Ramesh is working at a (1)
salary of Rs. 35000 per month. He receives two job offers: (i) to
work as an accountant at a
salary of Rs. 30000 per month; (ii) To work as a sales manager at
a
salary of Rs. 25000 per month. In the given case, his
(a) Rs. 25000
opportunity cost will be:
(b) Rs. 3000 te)7 g:
(c) Rs. 35000
(d) Rs. 65000
Q8. Define average fixed cost (1)
(AFC). Discuss the shape of APC curve with the help of a
schedule and a diagram.
"OR"
Explain the
relationship between marginal cost and average cost.
Q.9. State the distinction between (3)
explicit cost and implicit cost. Give an example of each.
"OR"
Give reason, comment on the of
shape production possibilities curve based on the
following schedule:
Good X (units) 0 1 2 3 4
Good Y (units) 8 6 4 2

Q.10 When the prices of (3)

a
commodity is Rs. 20 per units, its
quantity demanded is 800
units. When its prices rises by Rs. 5
per unit, its quantity demanded falls by 20
cent. Calculate its per
price elasticity ofdemand. Is its demand elastic? Give reason for
your answer.

"OR"
 ne demand curve of a
commodity is
expressed as D,= 40- 5P. ifslope of the demand
Curve is given to be (-2), calculate price elasticity of demand for the
demand is 20 units. commodity when
Q.11 Explain the law of demand with the help ofa (3)
demand schedule.
"OR"
A consumer has total
money income of Rs. 250 to be spent on two
prices of Rs.25 and Rs. 10 goods X and Y with
per unit respectively. On the basis of the information
answer the given,
following questions:
(a) Give the equation of the
budget line for the consumer.
(b) what is the value of slope of the
budget line?
(c) How many units can consumer
buy if he is spend all his money income on good X?
(d) How does the budget line
change if there is a fall in price of goods Y? (3)
Q.12. Explain the law of
diminishing marginal utility with the help of a utility schedule. (3)
Q.13. Explain consumer's
equilibrium, in case of a single commodity, with the help of a
utility schedule.
Q.14. Calculate TFC, TVC, ATC, (4)
AVC, and MC:
Output (units) 0 1 2 3 4
TC (Rs.) 60 80
5 6
100 111 116 130 150
"OR"
State the distinction
between explicit cost and implicit cost. Give an
Q.15. Explain in brief the example of each. (4(4)
following kinds of price elasticities of demand:
(i) highly elastic
demand; (i) less elastic demand; (ii)
unitary elastic demand. (4)
Q.16. Explain how do the
following influences demand for a good: (i) Rise in income of the
consumer (ii) fall in the prices of the related goods.
"OR"
State and explain the characterstics of indifference curve.
Q.17. Explain conditions of consumer's (5)
equilibrium under indifference curve approach.
"OR"
Discuss the relationship between: MP and
(i) TP; (i) AP and MP.
Q.18. What are the different (5)
phases in the law of variable proportions in terms of
products? Give what reason behind each phase. Use marginal
diagram. (6)
 CLASS-XIth
Time: 30 min. SUBJECT-MICRO M.M.:

Q.1 Define an indifference curve.

Q.2 Which Law states that "When a consumer consumer consumes more and more units of
product. The utility derived from each additional unit decrease"?
(a) Law of Equi-Marginal utility. (b) Law of Ordinal utility
(c) Law of cardinal utility oLaw of Diminishing Marginal utility

Q.3 A consumer consumes only two goods X and Y. At a consumption level of these two
goods. He finds that the ratio of marginal utility of price in case of X is higher than in
case of Y. Explain the reaction of the consumer.
m ym
Q.4 Calculate the missing figures.

UNITS 1 2 3 4 5
TU in utils 5 9
MU in utils
12 14
IS
5 3 -2 1

a s If a consumer has monotonic preferences, can she be indifferent between

the bundles (10.8) and (8.6)?

a6 Suppose that an ice-creamis sold for Rs30 Laxmi who love ice-cream, has already
eaten 3. Her marginal utilityfrom eating the 3d ice-cream is 90 utils. if MU of Rs 1 is
3 utils, should she eat mote ice-creams or should she stop?
mu
MU
a.7 Explain the relation between total utility and marginal utility.
mu gouts
Q.8 A consumer consumes only two goods X and Y Whose prices are Rs 5 and Rs 4 per unit
respectively. if MUy =16 at the point ofconsumer 's equilibrium, calculate MUx
 Q.9 A consumer
wants to consumer
te censume two goods: Good A and Good B. Good A
is priced Rs ped
at 2unit and Good B at Rs 4 per unit. The income of the consumer is
fixed at Rs 20. On the basis of this
information, answer the following questions:
1. Write down the bundle that are available to the consumer
OR
Mention all the bundle which come under the
2. Find out the bundles
'Budget Set.
which cost exactly Rs 20
OR
Mention the bundles which can be
3.how much units of
represented on the 'Budget Line'
good A can be purchased if the entire income is spent on that good ?
4. write down the
algebraic expression of budget line.
ne.
5. Determine the
slope of the budget line.
Q.10 Explain the law of
diminishing marginal utility ? with the help of a utility schedule.
OR
What is law of Diminishing marginal utility? Give a numerical example with grapy.
a11 state and explain the characteristics of indifference
curve.
Q.12 Show diagrammatically the conditions for
consumer's equilibrium in Hicksian
analysis of demand.
Q.13 Example consumers
equilibrium, in case of single commodity, with the help of a
utility schedule.
OR
Explain condition determining how many units ofa good consumer will buy at given price