List of top Economics Questions on Economics asked in UP Board XII

Wealth is a

In a perfect competitive market demand curve is

Who gave the welfare-oriented definition of Economics?

What is law of Variable Proportion ? How many stages of law of variable proportion are there ?

Explain with the help of a diagram the relationship between Total Cost, Average Cost and Marginal Cost.

Explain the concept of Perfect Competition. How is equilibrium of a firm attained in the long run ?

State three functions of central bank.

Explain diagrammatically the law of Constant Return to Scale.

What do you understand by demand function ? Why does a demand curve fall from left to right ?

What do you understand by elasticity of demand ?

Describe the allocation function and re-distribution function of a government budget.

What do you understand by supply of money ? Explain the three factors affecting it.

What is Positive Economics ?

What is Opportunity Cost ?

``Money is the pivot around which economic science revolves." It is a statement of

Who is known as the father of Macroeconomics ?

``Supply creates its own demand." This statement is given by

State three limitations of Barter system of Exchange.

Define a Central Bank.

Clarify the meaning of Micro Economics.

Who wrote the famous book "Wealth of Nations"?

What do you understand by Demand? Describe the determinants of Demand.

Explain the 'Laws of Return to Scale' with diagram.

Describe the characteristics of 'Perfectly Competitive Market'. Explain the determination of price in such market.

Discuss the effect of upward shifting of Demand and Supply curve on equilibrium price and quantity.