12th Standard CBSE Economics Study material & Free Online Practice Tests - View Model Question Papers with Solutions for Class 12 Session 2019 - 2020 CBSE [ Chapter , Marks , Book Back, Creative & Term Based Questions Papers - Syllabus, Study Materials, MCQ's Practice Tests etc..]

12th Standard CBSE Economics Public Exam Model Question 2020 - by Deepika Taneja - Kozhikode - View & Read

• 1)

In a centrally planned economy, all the economic decisions are taken by the:

• 2)

What will be the elasticity of demand curve that is a horizontal line parallel to x-axis?

• 3)

The formula to calculate Marginal product from Total product is:

• 4)

The price of coffee decrease.What will be the corresponding effect on the demand and supply of tea?

• 5)

The process of adding to physical stock of capital is known as

12th Standard CBSE Economics Public Exam Sample Question 2020 - by Deepika Taneja - Kozhikode - View & Read

• 1)

Economics is:

• 2)

The price of good Xand the quantity demanded ofY bear a positive relationship between each other. What could be the reason behind that?

• 3)

Which Elasticity of Supply is shown by the supply curve parallel to x-axis?

• 4)

AR and MR curves are downward sloping under:

• 5)

Withdrawal of income from circular flow of income, e.g. savings, is known as

12th Standard CBSE Economics Public Exam Important Question 2019-2020 - by Deepika Taneja - Kozhikode - View & Read

• 1)

Which one of the following is not the feature of socialist economy?

• 2)

Market demand curve for soup is given and known to us. With the onset of cold weather, price remaining the same the consumer would:

• 3)

A production function states that there exists that there exists a technical relationship between:

• 4)

Which of the following could be the characteristic of an oligopoly market

• 5)

The goods which are ready to be used by the producers are called..........

12th Standard Economics Board Exam Sample Question 2020 - by Deepika Taneja - Kozhikode - View & Read

• 1)

Best shape of PPC reflects ........ .

• 2)

If due to fall in the price of good X, demand for good Y rises, the two goods are: (Choose the correct alternative)

• 3)

When Average Cost curve is rising, then Marginal Cost...................... .

• 4)

Feature of oligopoly that differentiates it from the other three models of market behavior is that:

• 5)

Macroeconomics is also called _________ economics.

12th Standard Economics Board Exam Model Question 2019-2020 - by Deepika Taneja - Kozhikode - View & Read

• 1)

Central economic problems are the problems of a ......... .

• 2)

Total expenditure by Ashmin remains the same even after the price of apples fall. According to total expenditure approach, what could be the elasticity of demand?

• 3)

Short - run supply curve of the firm is ................. .

• 4)

Firm in a monopolistic market has - control over price.

• 5)

Gross Investment= Net Investment + ............

12th Standard CBSE Economics - Government Budget Four Mark Model Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Explain, why public goods must be provided by the government?

• 2)

Differentiate between balanced budget and surplus budget.

• 3)

Explain the role of government budget in bringing economic stability.

• 4)

State three objectives of a government budget.

• 5)

Is the following, a revenue receipt or a capital receipt in the context of government budget and why?

12th CBSE Economics - Government Budget Four Mark Model Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Explain, why public goods must be provided by the government?

• 2)

Differentiate between balanced budget and surplus budget.

• 3)

Explain the role of government budget in bringing economic stability.

• 4)

State three objectives of a government budget.

• 5)

Discuss any four objectives of a government budget?

12th CBSE Economics - Determination of Income and Employment Five Mark Model Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Which are the important elements in the determination of investment?

• 2)

State the meaning and components of aggregate demand.

• 3)

What do you understand by 'parametric shift of line? How does a line shift when its slope decreases and its intercept increases?

• 4)

Explain the meaning of under employment equilibrium. Explain two measures by which full employment equilibrium can be reached.

• 5)

Distinguish between inflationary gap and diflationary gap. State one measure for each, by which these can be corrected.

12th CBSE Economics - Money and Banking Four And Six Mark Model Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Explain the significance of the 'unit of account' function of money.

• 2)

Explain the significance of 'medium of exchange' function of money.

• 3)

Explain the problem of 'double coincidence of wants' faced under barter system.how has money solved it?

• 4)

How does money overcome the problems of barter system? Explain briefly.

• 5)

State the functions of money.

12th CBSe Economics - National Income and Its Measurement Six Mark Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

How will you treat the following while the following estimating National Income? Give reasons for your answer.

(i) Capital gain on sale of a house.

(ii) Prize won in a lottery.

(iii) Interest on public debt.

• 2)

Find out

(a) Gross National Product at Market Price and

(b) Net current transfers from abroad.

 S.No. Contents Rs (in crore) (i) Private Final Consumption Expenditure 1000 (ii) Depreciation 100 (iii) Net National Disposable Income 1500 (iv) Closing Stock 20 (v) Government Final Consumption Expenditure 300 (vi) Net Indirect Tax 50 (vii) Opening Stock 20 (viii) Net Domestic Fixed Capital Formation 110 (ix) Net Exports 15 (x) Net Factor Income to Abroad (-) 10
• 3)

Giving reasons, categories the following into stock and flow:
(i) Profits
(ii) Capital
(iii) Savings
(iv) Balance in a bank account
(v) Capital formation
(vi) GDP

• 4)

Explain the main steps involved in the expenditure method of estimating national income.

• 5)

Explain any four limitations of using GDP as a measure/index of welfare of a country.

12th CBSE Economics - Macroeconomics and Circular Flow of Income Four Mark Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Describe 'the Great Depression' of 1929.

• 2)

Giving reason, classify the following into intermediate products and final products.
(i) Computers installed in an office.
(ii) Mobile sets purchased by a mobile dealer.

• 3)

Giving reason, classify the following into capital goods and consumer goods.
(i) Ice-cream purchased by a consumer.
(ii) Plant and machinery of XYZ company

• 4)

Give reason and identify whether the following are final expenditures or intermediate expenditures.
(i) Expenditure on maintenance of an office building is intermediate expenditure.
Reason Expenditure on maintenance of an office building will be considered as a raw material, so it should be considered as intermediate expenditure.
(ii) Expenditure on improvement of machine in a factory is final expenditure.
Reason  Expenditure on improvement of machine in a factory is a kind of capital investment, so it should be considered as final expenditure.

• 5)

Explain the basis of classifying goods into intermediate and final goods. Give suitable examples.

12 Standard CBSE Economics - Forms of Market and Price Determination Six Mark Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Distinguish between collusive and non-collusive oligopoly.

• 2)

Distinguish between collusive and non-collusive oligopoly.Explain the following features of oligopoly.

(i) Few firms

(ii) Non-price competition

• 3)

At a given price of a commodity, there is excess demand. Is this price an equilibrium price? If not, how will the equilibrium price be reached? Use diagram.

• 4)

Market for a good is in equilibrium. The demand for the good 'increases'. Explain the chain of effects of this change.

• 5)

State whether the following statements are True/False. Give reason.
(i) A price-taker firm's, AR remains unchanged as more output is produced.
(ii) Equilibrium price in a perfectly competitive market is determined by each individual firm.

CBSE 12th Standard Economics - Producer Behaviour and Supply Six Mark Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

IExplain the law of variable proportions through the behaviour of total and, marginal product. Give reasons.

• 2)

Explain the likely behavior ofTP and MP when for increasing production only one input is increased while all other inputs are kept constant.

• 3)

What is meant by returns to a factor? State the three phases of the law of variable proportion. Use diagram.

• 4)

State the different phases of changes in Total Product and Marginal Product in the Law of Variable Proportions. Also, show the same in a single diagram.

• 5)

Distinguish between:
(i) Fixed Costs and Variable Costs
(ii) Average Cost and Marginal Cost

12th Standard CBSE Economics - Consumer's Equilibrium and Demand Five Mark Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Explain the relationship between total utility and marginal utility with the help of a schedule and diagram

• 2)

Explain the condition of determining how many units of a good consumer will buy at a given price.

• 3)

Define MRS. Explain why an Indifference curve is convex.

• 4)

What is the relation between X and Y, in each case, if with the fall in the price of X demand for Y (i) rises and (ii) falls? Give reasons.

• 5)

Explain why is an Indifference Curve:
(i)downward sloping   (ii)convex

12th CBSE Economics - Economics, Economy and Its Central Problems Five Mark Question Paper - by Asha Arora - Jamshedpur - View & Read

• 1)

Giving reasons, identify which of the following are the subject matter of microeconomics or macroeconomics.
(i) National Income
(ii) Price determination of a commodity
(iii) General price level

• 2)

State the assumptions of Production Possibility Curve

• 3)

Define Marginal Opportunity Cost. Explain the concept with a hypothetical numerical example.

• 4)

What will be the impact of recently launched 'Clean India Mission' (Swachh Bharat Mission) on the Production Possibilities curve of the economy and why?

• 5)

Giving reason comment on the shape of Production Possibilities curve based on the following schedule:

 Good X(units) Good Y(units) 0 20 1 18 2 14 3 8 4 0

12th CBSE Economics Unit 1 Economics, Economy and Its Central Problems Model Question Paper II - by Deepika Taneja - Kozhikode - View & Read

• 1)

In free market economy, the allocation of resources is determined by ...... .

• 2)

Central economic problems are the problems of a ......... .

• 3)

Economics is:

• 4)

In a centrally planned economy, all the economic decisions are taken by the:

• 5)

The opportunity cost of watching a movie will be equal to;

12th Standard CBSE Economics Foreign Exchange Rate and Balance of Payments Model Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

............... is a situation when 'managed floating' is exercised by the central bank.

• 2)

What is the difference between the value of exports and value of imports of goods called?

• 3)

Which items are excluded in BOT, but included in BoP?

• 4)

Which exchange rate is officially declared by the government?

• 5)

Other things remaining unchanged, when in a country the price of foreign currency rises, national income is  (choose the correct alternative).

12th CBSE Economics Government Budget Model Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

----------- is the year which begins on 1st April and ends on 31st March of the following year

• 2)

------------- taxes do not depend on the level of income.

• 3)

Fiscal deficit is equal to----------

• 4)

A Government budget is prepared for a fiscal year running from:

• 5)

Which of the following statement is true?

12th Standard CBSE Economics Determination of Income and Employment Model Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

• 2)

In case of excess demand, RBI ............... the bank rate or interest rate which makes the credit dear.

• 3)

Out of the following which value can be greater than one?

• 4)

When the value of MPC is 0.7, the value of MPS will be:

• 5)

Full employment implies absence of:

12th Standard CBSE Economics Unit 7 Money and Banking Model Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

Money is most liquid of all assets because

• 2)

Measurement of value of all goods and services refers to which of the following of money?

• 3)

Which out of the following is an attractive and easy medium of exchange?

• 4)

For performing which function of money, it should be generally acceptable::

• 5)

Which of the following instrument deals with the qualitative credit control?

12th CBSE Economics Unit 6 National Income and Its Measurement Model Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

Transfer payments are ..........

• 2)

Transfer payments are ..........

• 3)

Real National Income means the National Income measured in terms of ........

• 4)

GNP Deflator = $\frac { Nominal\quad GNP }{ ? } \times 100$

• 5)

In GNP calculation, which of the following should be excluded?

12th CBSE Economics Unit 5 Macroeconomics and Circular Flow of Income Important Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

Which concept is known as the study of aggregates?

• 2)

The goods which are ready to be used by the producers are called..........

• 3)

Which variables are defined as any quantity measured at a particular point of time?

• 4)

When households and firms borrow from the financial market, they constitute .........

• 5)

.......... refers to the flow of money across different sectors of the economy.

12th CBSE Economics Unit 4 Forms of Market and Price Determination Important Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

In Perfect competition, as the firm is a price taker, the ____________ curve is a horizontal straight line.

• 2)

Monopolist can determine  _________

• 3)

Market which has a few large firms is _________

• 4)

Which of the following is not an essential condition of pure competition ?

• 5)

Firm in a monopolistic market has - control over price.

12th Standard CBSE Economics Unit 3 Economics, Economy and Its Central Problems Important Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

Which of the following is related to microeconomics?

• 2)

The study of microeconomics and macroeconomics is ......... .

• 3)

Which one of the following is not the feature of socialist economy?

• 4)

In free market economy, the allocation of resources is determined by ...... .

• 5)

Central economic problems are the problems of a ......... .

12th CBSE Economics Unit 2 Consumer's Equilibrium and Demand Important Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

Total utility derived from consumption of commodity will begin to fall ..............

• 2)

Law of Diminishing Marginal Utility assumes the Marginal Utility of money to be .........

• 3)

........... curve is a downward sloping curve cutting the X-axis

• 4)

Utility approach is ...........

• 5)

A rational consumer prefers A(10,6) over B(8,4) which kind of preference is this?

12th Standard CBSE Economics Chapter 1 Important Question Paper - by Deepika Taneja - Kozhikode - View & Read

• 1)

Which of the following is related to microeconomics?

• 2)

The study of microeconomics and macroeconomics is ......... .

• 3)

Which one of the following is not the feature of socialist economy?

• 4)

In free market economy, the allocation of resources is determined by ...... .

• 5)

Central economic problems are the problems of a ......... .

Economics CBSE Class 12 First Revision Test paper with answer - by Bala - View & Read

• 1)

Why is a PPC downward sloping from left to right?

• 2)

Ceteris Paribus, if the government provides subsidies on electricity bills, what would be the likely change in the market demand of desert coolers?

• 3)

Define variable costs.

• 4)

What is that market called wherein there are only few sellers (firms)?

• 5)

What is a negative externality?

12th Standard CBSE Economics Model Question Paper - by Bala - View & Read

• 1)

How is an economic problem a choice making activity?

• 2)

What happens to TU when MU is positive?

• 3)

Define fixed costs.

• 4)

Define perfect competition.

• 5)

Define circular flow of income.

Economics CBSE Class 12 Model NCERT Questions and answer - by Bala - View & Read

• 1)

Name any two central problems of an economy.

• 2)

Give equation of Budget Line.

• 3)

What causes an upward movement along a supply curve of commodity?

• 4)

What happens when the government imposes price Hoor?

• 5)

Complete the equation: NNPFC = NNPMP - .......................

Money and Banking Important Questions from CBSE 12th Economics - by Bala - View & Read

• 1)

Money is most liquid of all assets because

• 2)

Measurement of value of all goods and services refers to which of the following of money?

• 3)

Banks not only accept deposits but also  ............ savings

• 4)

The Process of credit creation in an economy  is affected by

• 5)

Central bank control credit creation of banks by ............

12th CBSE Economics Determination of Income and Employment Important Questions - by Bala - View & Read

• 1)

• 2)

Aggregate Supply=Consumption+___________.

• 3)

Value of aggregate supply equals:

• 4)

In a situation of 'Deficient demand' at the full employment level of income:

• 5)

If MPC = 0, the value of multiplier is:

12th Economics Government Budget Important Question - by Bala - View & Read

• 1)

----------- is the year which begins on 1st April and ends on 31st March of the following year

• 2)

------------- taxes do not depend on the level of income.

• 3)

Which of the following statement is true?

• 4)

Subsidies are an example of:

• 5)

Primary deficit in a government budget equals: (Choose the correct alternative)

12th Standard Economics Foreign Exchange Rate and Balance of Payments Important Question Paper - by Bala - View & Read

• 1)

............... is a situation when 'managed floating' is exercised by the central bank.

• 2)

Balance of payments deficit is calculated by taking into account the ............... only.

• 3)

Which items are excluded in BOT, but included in BoP?

• 4)

Other things remaining the same, when foreign currency becomes cheaper, them effect on national income is likely to be : (Choose the correct alternative).

• 5)

Unilateral transfers are a part of:

12th Standard Economics Revision Model Question Paper 1 - by Bala - View & Read

• 1)

Which of the following is an assumption of Production Possibility Frontier?

• 2)

How does total revenue behave when marginal revenue falls but remains positive?

• 3)

What does a point below production possibility curve indicate?

• 4)

Define utility.

• 5)

What will happen to equilibrium price, when demand is perfectly elastic and supply increases?

12th Standard CBSE Economics Revision Test - by Bala - View & Read

• 1)

What is the time period of the Great Depression?

• 2)

............. is addition to the stock of fixed assets of producers during an accounting year.

• 3)

Gross Investment= Net Investment + ............

• 4)

Real National Income means the National Income measured in terms of ........

• 5)

Personal Disposable Income means .........

12th Standard CBSE Economics Term Test Model Questions - by Bala - View & Read

• 1)

Best shape of PPC reflects ........ .

• 2)

According to economic growth, Production Possibility Curve will show ....... .

• 3)

Microeconomics is not concerned with the behaviour of:

• 4)

The opportunity cost of watching a movie will be equal to;

• 5)

When there is an improvement in technology, holding everything else constant:

Foreign Exchange Rate And Balance Of Payments - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

............... is a situation when 'managed floating' is exercised by the central bank.

• 2)

Which items in Balance of payments are also called 'above the line' items?

• 3)

Balance of Trade refers to balance of exports and imports of:

• 4)

If the price of 1 US\$ has fallen from Rs 56 to Rs 52, the Indian currency has:

• 5)

Which exchange rate is officially declared by the government?

Government Budget - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

----------- is the year which begins on 1st April and ends on 31st March of the following year

• 2)

---------- items are those items which do not create a liability or do not lead to reduction in assets.

• 3)

Fiscal deficit is equal to----------

• 4)

Which out of the following is a non-developmental expenditure?

• 5)

The non-tax revenue in the following is: (choose the correct alternative

Determination Of Income And Employment - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

• 2)

If the investment multiplier is 1, what will be the value of Marginal Propensity to Consume?

• 3)

APC is obtained by:

• 4)

Which out the following is a monetary measure to correct deficient demand?

• 5)

If MPC = 0, the value of multiplier is:

Money And Banking - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

Money is most liquid of all assets because

• 2)

Banks not only accept deposits but also  ............ savings

• 3)

Number of times the total deposits would be of the initial deposit is determined by :

• 4)

The part of LRR kept by the banks themselves is called::

• 5)

A Government budget is prepared for a fiscal year running from:

National Income And Its Measurement - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

Transfer payments are ..........

• 2)

.......... is the income which accrues to the private sector from all sources.

• 3)

In GNP calculation, which of the following should be excluded?

• 4)

Which of the following represents National Income?

• 5)

Goods purchased for satisfaction of wants are

12th Economics Model Question Paper 1 - by Bala - View & Read

• 1)

Which concept is known as the study of aggregates?

• 2)

The goods which are ready to be used by the producers are called..........

• 3)

Gross Investment= Net Investment + ............

• 4)

Which variables are defined as any quantity measured at a particular point of time?

• 5)

.......... refers to the flow of money across different sectors of the economy.

Forms Of Market And Price Determination - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

In Perfect competition, as the firm is a price taker, the ____________ curve is a horizontal straight line.

• 2)

Market which has a few large firms is _________

• 3)

an increase in demand with unchanged supply leads to_______

• 4)

The individual demand and supply functions of a product are given as: ${ D }_{ x }=10-2{ P }_{ x },{ S }_{ x }=20+2{ P }_{ x }$ where  ${ P }_{ x }$ stands for price and ${ D }_{ x }$ and ${ S }_{ x }$ respectively stands for quantity demanded and quantity supplied.If there are 4000 consumers and 1000 firms in the market, then quantity demanded and supplied at the equilibrium price of Rs.2 is:

• 5)

The number of buyers and sellers in the industry are large, this implies that:

Producer's Behaviour And Supply - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

Supply of a commodity is ............. concept.

• 2)

Elasticity of supply is defined aas a measure of the responsiveness of quantity supplied of  good to change in

• 3)

Increasing returns is applicable because of .............

• 4)

Area under MC curve is ................... .

• 5)

For a perfectly competitive market, price would be equivalent to:

Consumer's Equilibrium And Demand - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

Total utility derived from consumption of commodity will begin to fall ..............

• 2)

........... curve is a downward sloping curve cutting the X-axis

• 3)

Utility approach is ...........

• 4)

Identify the law in the statement below:
A consumer with a given income allocates his expenditure among commodities, so that last rupee spent on each brings equal Marginal Utility.

• 5)

A rational consumer prefers A(10,6) over B(8,4) which kind of preference is this?

Economy And Its Central Problems - Important Questions Model Paper In 12th Economics - by Bala - View & Read

• 1)

Which of the following is related to microeconomics?

• 2)

Which one of the following is not the feature of socialist economy?

• 3)

The usual shape of Production Possibility Curve is .......... towards the origin.

• 4)

Economics is:

• 5)

Macroeconomics deals with

CBSE Education Study Materials

12th CBSE Economics 2019 - 2020 Academic Syllabus - by Deepika Taneja - Kozhikode Aug 21, 2019 Aug 21, 2019

Economics 2019 - 2020 Academic Syllabus

Tips & Tricks to score full marks in CBSE Class 12 Economics - by Bala Jan 24, 2019 Jan 24, 2019

Economics is quite an easy subject there are a lot of concepts involved so you need not to cram a...

Tips by Experts to score full marks in CBSE Class 12 Economics - by Bala Jan 24, 2019 Jan 24, 2019

Economics generally deals with production, distribution, and consumption of goods. It has both, q...

CBSEStudy Material - Sample Question Papers with Solutions for Class 12 Session 2019 - 2020

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