Important Questions for Unit Test Class 12 2017

Class 12

Unit Test 1

Important –Sure Shot Questions

Q1 Explain the law of variable proportion with the help of schedule and diagram

Q2 Explain the factors affecting demand

Q3 Explain the factors affecting supply

Q4 Explain the relationship between AC, AVC and MC

Q5 Explain the concept of producer’s equilibrium with the help of schedule and diagram

Q 6 Differentiate between

·         Increase in demand /supply and Decrease in demand/supply

·         Expansion in demand/supply and Contraction in demand/supply

Q7 Explain the concept of explicit cost and implicit cost

Q8 Explain the properties of PPC

Q9 Explain the factors affecting supply

Q10 Explain the revenue curves in perfect and imperfect competition

Q11 Numerical on

ü  Elasticity of demand

ü  Elasticity of supply

ü  Cost

ü  Production

ü  Revenue

ü  Producers Equilibrium

Q12 Explain the properties of PPC

Q13 Explain the properties of indifference Curve

Q15 Explain the equilibrium by Indifference Curve Analysis