ISC Class 12 Economics Question Paper 2019

Q: 2. How Can I Study for Class 12 Economics?

Our faculties suggest the following tips:Study topic wise.Try to understand what exactly is asked in a particular question.Analyze all you read and ask questions to yourself.Go through all the economic models thoroughly and learn all the important definitions.

ICSE

ISC Class 12 Economics Question Paper 2019

Last updated date: 23rd Apr 2024

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Class 12 Economics ISC Question Paper 2019 - Free PDF Download

Economics is one of the most interesting subjects that teach students how to develop conceptualized models of behaviour, make changes in the policy, and market. In today’s time, economists not only advise the Prime Minister and political parties on economic issues, but they also advise the central banks, real estate, and public and private businesses. Economics also fosters the ability to make everyday decisions. So this subject gives both theoretical and practical knowledge to students.

With economics being such an extensive and important subject, it demands hard work for students to score well. Hence, they can score good marks only by just understanding the theories and practicing various types of questions.

Sample Question Paper

The students need to score the best to get admitted to better colleges because that helps in deciding their future. For this, the student needs to plan and come up with a strategy. Therefore, the best method which has been suggested by our experts is to solve as many question papers as they can. Vedantu experts have done a thorough research and have in-depth knowledge about the kind of questions that appear in the ISC Class 12 Economics Board exams and therefore, they provide free access to the ISC Class 12 Economics Question Paper 2019. Visit their official website and click on the link mentioned and then download all the question papers in PDF format.

Benefits of Question Papers

The benefits of solving these question papers are mentioned below:

It is designed by the highly qualified experts of Vedantu.
It helps you give an idea about the kind of questions that are going to be asked.
It teaches you time management skills.
It helps in knowing about the weak points of yours so that you can improve them with regular practice.
Revision is one of the indispensable parts for scoring higher marks.
Practising these question papers every day will help a student to quickly come up with answers that help in saving their time.
The students, after solving these question papers, would become more efficient.
It helps them know about the important topics that need to be covered first.
Helps in completing the syllabus on time and gives ample time for the revision again and again.
Hand-written notes by a student help the student cover the topic quickly and in a short time.

In order to understand the pattern of the question paper in detail, study checklist, preparation tips, and other updated information and in-depth knowledge regarding it, the student can visit the official website of the Vedantu. Vedantu provides you with free access to this information. Tap on the link and scroll for all the information.

Product Differentiation in Monopolistic Competition in ISC Class 12 Economics Question Paper 2019

Monopolistic competition is very difficult as in this kind of competition many companies offer the same product but they are different in terms of their brand, size, quality, taste, colour. This competition mainly focuses on how to make their product unique and stand out to their target audience and product differentiation is one of the unique features of monopolistic competition. It is also one of the important chapters and the question related to this surely appears in the ISC Class 12 Economics Question Paper 2019.

Product differentiation is important for all companies and the reason behind this is to create a unique product in order to stand out because they want their monopoly to exist in the market which enables them to gain greater profit than others. It is also one of the ways to avoid entry barriers and therefore it is one of the sources of competitive advantage. There has been the existence of many sellers in the market and they could be identified because of one great feature and that is to create a different product from their other competitors.

The best example of monopolistic competition is hairdressing. Many companies offer this feature. They would love to offer something slightly different. However, competition is still too strong. When there is an existence of strong monopoly competition in the market there is likely to be seen the existence of combination and mixture between the monopoly as well as the perfect competition.

Apple is also one of the companies which is known to design different, unique, and long-lasting products. Therefore, the competition for Apple is strong. But due to its offering of long-lasting and unique products, it has an existence of monopoly but still has competition.

The main features of the monopolistic competition are mentioned below:

There would be a large number of buyers and sellers in the market.
Free entry and exit of companies in the competition.
Product Differentiation.
Selling cost of the product.
There would be an existence of a lack of perfect knowledge and research.
Mobility would be less.
Presence of more elastic demand.

FAQs on ISC Class 12 Economics Question Paper 2019

1. Write One Difference Between Accounting Cost and Opportunity Cost.

Accounting cost is recorded in the accounts book of a firm. These are the expenditures incurred by an industry/firm in terms of the production process.

For example, a furniture industry manufactures sofa sets, the cost of labour used in its production is the accounting cost.

Opportunity cost is the value of the next best alternative selected over another while making a certain decision.

For example, a producer can use the firm for either producing the gloves or electrical items. He finds benefits in manufacturing the electrical items. So, producing electrical items is the opportunity cost over producing the gloves.

2. How Can I Study for Class 12 Economics?

Our faculties suggest the following tips:

Study topic wise.
Try to understand what exactly is asked in a particular question.
Analyze all you read and ask questions to yourself.
Go through all the economic models thoroughly and learn all the important definitions.

3. Can I Access the Study Materials for Class 12 Economics from Vedantu?

Yes, you can access the study materials for class 12 Economics from Vedantu. You can download these study materials for free.

4. How to Score Good Marks in Class 12 Economics?

To score good marks in Class 12 Economics, you need to be consistent with your preparation. Be focused and stay updated with the types of questions asked in the previous years and the exam pattern.

5. How is Vedantu's ISC Class 12 Economics Question Paper 2019 beneficial for me?

Class 12th is a turning point in every student's life. This is the phase that helps in deciding the future of the student. Therefore, the student needs to work very hard to score and pass with a good score to get admission to the best colleges. Vedantu provides you free access to the ISC Class 12 Economics Question Paper 2019. You just visit their official website and click on the" Download PDF" and you will receive all the questions in the PDF format. The experts at Vedantu are highly qualified and well researched and therefore they have designed ISC Class 12 Economics Question Paper 2019 on the basis of in-depth knowledge of outdated as well as updated syllabus which matches exactly like the question paper that you receive in the examination hall.