#CBSE Class 12 Economics Exam 2017: Important questions for #Economics

he Central Board of Secondary Education (CBSE) will conduct the Economics paper for Class 12th Board Exam 2017 on April 17. Economics is one of the important and scoring subjects of the board exams. In order to help students with the paper pattern and level of questions, the Central Board of Secondary Education (CBSE) has released the sample papers and marking scheme on its official website cbse.nic.in. We have shared some important questions for CBSE Class 12th Economics Board Exam 2017. The questions have been extracted from the Economics sample paper available on the official website of CBSE.
These questions can be very helpful for the students at the time of preparation. The complete sample paper can be referred on the Board’s official website.
1. When is a consumer said to be rational?
2. Define normative economics, with a suitable example.
3. State the meaning of `quantity demanded of a commodity`.
4. “In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the mobile phone at a relatively lesser price. In response, AWAAZ too slashed its price.” Based on the above information, identify the form of market represented and discuss any one feature of the market.
Discuss the primary reason for ‘indeterminateness of demand curve’ under the oligopoly form of market.
5. Define Price Floor. What is the common purpose of fixation of floor price by the government? Explain any one likely consequence of this nature of intervention by the government.
Define Price Ceiling. What is the common purpose for the price ceiling imposed by the government? Explain any one likely consequence of this nature of intervention by the government in the price determination process.
Candidates should read the question paper carefully while answering. The questions may be divided in parts. Each part has some marks allotted to it. All questions should be attempted.

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