Old Question Paper 2071 – Economics Class 12

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Nepal Tourism EconomyQuestion Paper of Economics – Old is Gold
year: 2071 (2014) – Subject Code: 226’D’
For: Management (Commerce) Grade XII

Candidates are required to give their answer in their own words as far as practicable. The figures in the margin indicate full marks.
Time: 3 hrs – Full Marks: 100 – Pass Marks: 35

Answer all questions – Group A
1. What is shift in demand curve? What are its cause of rightward shift in demand surve? [5 + 5]
2. What is effeciency of labour? What are its determinants? [ 3 + 7]
3. Explain with diagrams, the three stages of law of variable proportions. [10]
4. Explain the nature and relationship of Average Variable Cost (AVC), Average Cost (AC) and Marginal Cost (MC) in the short-run. [10]
What is interest? Critically explain the classical theory of interest. [2 + 8]

5. Answer any four questions. [4 X 5 = 20]
a) What are the determinants of elasticity of demand?
b) Discuss the limitations of law of diminishing marginal utility.
c) What are the characteristics of capital?
d) Explain the nature of Average Revenue (AR) curve and Marginal Revenue (MR) curve under monopoly.
e) How is price determined under perfect competition?

6. Answer All questions: [5 X 2 = 10]
a) What is market economy?
b) Define cross elasticity of demand.
c) What is constant return to scales?
d) Mention two conditions for the equilibrium of a firm.
e) What is consumer’s surplus?

Group B
7. What is direct tax? Explain its merits and demerits. [ 2 + 8 = 10]
Explain the comparative cost theory of international trade. [10]

8. Answer any two questions. [2 X 5 = 10]
a) Discuss the primary and secondary functions of money.
b) How does banking system help in economic development?
c) What is the importance of government expenditure?

9. Answer all questions: [5 X 2 = 10]
a) What are the steps in index numer construction?
b) What is capital market?
c) List the sources of government borrowing.
d) What is balance of trade?
e) Why central bank is called the advisor of government?

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