NEB || Important question paper of Economics-II

Class: 12 || Subject: Economics-II

Unit-7 Theory of Price and Output Determination

Long answer questions

  1. What is monopoly? How is price and output determined under it? [2+8]
  2. How are price and output determined under monopoly? [10]
  3. What is perfect competition? How are price and output determined under it? [4+6]
  4. What is perfect competition? How do firms get equilibrium under it? [2+8]
  5. How is output and price determined under monopoly? [10]

Short answer questions

  1. How is price determined under perfect competitive market? [5]
  2. How is perfect determined under perfect competition? [5]
  3. Explain about firm’s equilibrium under monopoly. [5]
  4. How does a firm attain equilibrium under perfect competition? [5]

Very short answer questions

  1. What is monopoly market? [2]
  2. Explain any two characteristics of perfect competition. [2]
  3. Define monopoly. [2]

Write short notes on:

  1. Mention two conditions for the equilibrium of a firm. [2]
  2. Characteristics of a perfectly competitive market. [2]

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Long answer questions

  1. Explain the Ricardian theory of rent with criticism. [10]
  2. Critically explain the classical theory of interest. [10]
  3. Explain the Ricardian Theory of rent with diagram. [10]
  4. Critically explain the classical theory of interest. [10]
  5. What is interest? Critically explain the classical theory of interest. [2+8]
  6. Critically explain the classical theory of interest. [10]
  7. Critically examine the subsistence theory of wage. [10]
  8. What is profit? Explain uncertainty-bearing theory of profit. [2+8]
  9. Rent is paid for original and indestructible powers of soil. Explain. [10]
  10. Distinguish between gross and net interest? Explain the classical theory of interest. [3+7]

Short answer questions

  1. Explain the wage fund theory of wage. [5]
  2. Explain uncertainty bearing theory of profit. [5]
  3. Mention the characteristics of capital? [5]
  4. Explain the classical theory of interest. [5]
  5. Discuss the wage fund theory of wages. [5]
  6. What is risk theory of profit? Explain. [5]
  7. Distinguish between economic rent and contract rent. [5]
  8. What is fund theory? Explain. [5]

Very short questions

  1. Write meaning of contract rent? [2]
  2. Define gross and net interest. [2]
  3. Define rent. [2]
  4. Mention four features of perfectly competitive market. [2]
  5. Define economic and contract rent. [2]
  6. What is profit? [2]
  7. What is contract rent? [2]
  8. Define interest. [2]
  9. What is the difference between gross interest and net interest? [2]
  10. Define gross and net profits. [2]
  11. Define money wages and real wages. [2]
  12. Define money wage and real wage. [2]

Write short notes on:

  1. Money wages and real wages. [5]
  2. Gross and net profit. [5]
  3. Classical Theory of Interest. [5]
  4. Gross and net interest. [5]

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