National Examinations Board Grade 12 Economics — Model Question 2079 (2023)

National Examinations Board · Economics (Grade 12) · 2079 (2023) BS · Model Question — 22 questions — a free old question paper on Goodone.club’s exam-paper archive.

  1. Write any two advantages of division of labour. [1 marks]
  2. What is the meaning of allocation of resources? Identify and describe the three major issues that may arise while allocating resources. [2+3] OR What is a market economy? Explain any four features of a market economy. [1+4] [5 marks]
  3. Illustrate the price and output determination process under perfect competition and show the situations of short-run equilibrium of the firm by the MR–MC approach. [4+4] [8 marks]
  4. A seller earns Rs. 700 from the sale of 10 units of a good. If s/he sells 1 more unit, the total revenue becomes Rs. 750. Find the marginal revenue by using the formula. [1 marks]
  5. Describe the Uncertainty Bearing Theory of Profit. Point out any four of its weaknesses. [3+2] [5 marks]
  6. The theory of comparative advantage is related to the need for international trade — every country imports goods whose cost of production is high within the country. Explain with a suitable example. [8 marks]
  7. What is the policy applied by the central bank to control the money supply and credit called? [1 marks]
  8. Give the answers to the following questions on the basis of the given table (Output 1–6; TC = 8, 14, 18, 28, 45, 72; with some AC and MC values blank): (i) Complete the table. (ii) Draw the AC and MC curves from the completed table. [2+3] [5 marks]
  9. Foreign employment is one way to solve the growing unemployment problem for developing countries like Nepal; however, these countries may have to face various problems in future. Considering such possible problems, explain your ideas in four points each. [4+4] OR Prioritize and list any four major SDGs of the UN that are directly relevant to Nepal. Why should these aims be prioritized in the Nepalese context? Clarify. [2+3+3] [8 marks]
  10. Write any one difference between a fixed exchange rate and a flexible exchange rate. [1 marks]
  11. "A monopoly firm can sell as many goods as it wants by gradually decreasing the price." Based on this information, prepare a table showing the firm's total revenue, average revenue and marginal revenue, and draw the AR and MR curves based on the table. [3+2] [5 marks]
  12. What is 'structural unemployment'? [1 marks]
  13. Define money market and describe any four of its features. [1+4] [5 marks]
  14. When did Nepal become a member of the WTO? [1 marks]
  15. Currently, the continuously increasing economic inequality in Nepal has adversely affected the social, political and overall economic sectors of the country. Suggest any five practical measures to reduce this situation. [5 marks]
  16. Write down any two policies aimed at reducing the size of the population below the poverty line in the current plan of Nepal. [1 marks]
  17. Nepal has a long history of the formulation and implementation of development plans, but sufficient development has not occurred. In this regard, suggest the steps Nepal should adopt to formulate an effective development plan. [5 marks]
  18. There is gender inequality in your community — more priority is given to boys compared to girls, either at home or in school. State any two roles that you can play to help achieve the goal of gender equality in education by 2030 in Nepal. [1 marks]
  19. Find the standard deviation from the given data and interpret the result (Wages Rs.: 45, 55, 65, 75, 80; No. of labour: 8, 7, 3, 2, 4). [4+1] OR Find the price index using Laspeyre's formula from the given data (base-year and current-year prices and quantities of rice, flour, potato, oil and milk) and interpret the result. [4+1] [5 marks]
  20. Write any two pre-requisites of primary data collection. [1 marks]
  21. The sources of secondary data include books, newspapers, radio, etc., but there are various problems in collecting data from such sources. Point out any two problems while using data from secondary sources. [1 marks]
  22. If the difference and sum of the first quartile (Q₁) and third quartile (Q₃) are 45 and 75 respectively, find the coefficient of quartile deviation and interpret it. [1 marks]