Class 12 Economics Exam question and Answer

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Class 12 Economics Exam question and Answer
Class 12 Economics Exam question and Answer

We will look after NEB Class 12 Economics Exam question and Answer 2079 / 2022.

Class 12 Economics Exam question and Answer

Subject: Economics

Full Marks: 75

Time 3 hours

Candidates are required to give their answer in their own words as far as practicable. The figures in the margin indicate full marks.

Group A

Very Short Question Answer

1. What is production possibility Curve (PPC)?

= Production possibility curve (PPC) is the location of the various combination of two goods or services than an economy can produce with full use of its given state of resources and technology.

2. If the total cost is Rs. 1,000 and total revenue is Rs. 1,200. Find the total profit by using the formula.

Ans: Given,

Total Revenue (TR): Rs. 1,200

Total Cost (TC): Rs. 1,000

Total Profit (TP): ?

we know,

Total profit (TP): Total Revenue (TR) – Total Cost (TC)

: Rs. 1,200 – Rs. 1,000

: Rs. 200

Therefore, the total profit is Rs. 200.

3. What is money Market?

Money market is the market which is for short term financial instruments such as treasury bills, certificates of deposit, and commercial bills . Commercials banks are closely regulated in money market. The maturity period of the financial instrument in one year or less.

4. Write the meaning of the free trade.

= Free trade refers to the free and unrestricted movement of goods and services between two or more countries. Under free trade, international trade lacks all forms of artificial controls like taxes, quotas, etc.

5. What is unemployment?

= Unemployment is the situation where people are willing and able to work but cannot find any job.

6. What is world trade organization?

= World Trade Organization (WTO) is an international organization that helps to free trade between nations without any discrimination.

7. Write the meaning of the economic growth.

= Economic growth is an increase in the production of economic goods and services from one period of time to another.

8. Which goal of sustainable development is related to Zero Hunger?

= Zero Hunger is related to the 2nd sustainable development goals.

9. Write any two uses of statistics in economics.

= Two uses of statistics in economics:

i. statistics help in collecting of different data and information.

ii. It used for analyzing data and drawing conclusion from it.

10. Why primary data is more reliable than secondary data?

= Primary data is considered more reliable than secondary data because primary data are original in nature and no need to take caution while using primary data by the investigator.

11. Find the value of ‘x’ if the means of given data is 8. Income (in Rs. ): 4,6,8,x,12

Ans: 10

Group ‘B’

Short Answer Question 8*5 = 40

12. Explain the feature of the mixed economy. or Explain the scarcity and choice wit example.

13. Explain the Subsistence Theory of Wages.

14. Answer the following question on the basis of given table:

Units of gold soldPrice (Rs)TR (Rs)MR (Rs)AR (Rs)
110
210
310
410
510

i. Complete the given table.

ii. Draw AR and MR curves from the completed table.

15. If AC and AVC are Rs. 30 and Rs. 20 respectively. Calculate TFC at output of 10 units. Why is short run average cost curve U-shaped ? Give reasons.

16. Describe the functions of commercial bank.

17. Evaluate the efforts made for the reduction economic inequality in Nepal.

18. How plan is formulated in Nepal? Describe.

19. Find the standard deviation from the following data and interpret the results.

Income (Rs)141518202228
No of family434522

Group C

Long Answer Question 3*8 = 24

21. How equilibrium price and out re determined in short run a firm using MR-MC approach under monopoly market? Explain.

22. Why public finance is considered important in an economy? Explain.

23. Evaluate the causes of foreign trade deficit of Nepal. Or evaluate the effects of foreign employment in an economy.