CBSE Set Set1 Economics Sample Test Papers For Class 12th for students online

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Economics Class - XII  (CBSE)
You are on questions of Set I

Q 1. Give the meaning of domestic factor income? (1 mark)

Q 2. Define value of output? (1 mark)

Q 3. What is th meaning of capital as a factor of production? (1mark )

Q 4. What is an entrepreneur? ( 1 mark)

5. Give the meanings of final goods & intermediate goods? (2 marks )

Q 6. What is meant by labour intensive and capital intensive techniques of production? (2 marks)

Q 7. Explain the concept of operating surplus? (3 marks)

Q8. Explain the concept of domestic territory? (3 marks)

Q 9. What is transfer payment? Distinguish between current transfer and capital transfers?(1+2=3 marks)

Q 10.Explain briefly the steps taken in estimating material (3 marks)

Q Q11.Calculate the emoluments of employees (3 marks)

(i) Dearness allowance
(ii) Social Security contributions by employees
(iii)Travel expenses on business tour reimbursed by employees
(iv) Wages & Salaries in cash
(v) Free food to employees during lunch

12.What type of data is required to measure national income at each of the three phases of its circular flow? (3 marks)

Q 13 Explain briefly the basis of classification of producing enterprises into primary, secondary and tretiary sectors? (3 marks)

Q 14.Calculate Gross Domestic Capital Formation: (3 marks)

(i) Net indirect taxes
(ii) Opening stock
(iii) Net Domestic fixed capital formation
(iv) Closing Stock
(v) Consumption of fixed capital
(Rs crores)

Q 15.Explain any three precautions to be taken while estimating national income through the Expenditure Method?(3 marks)

Q 16.Why has it not been possible to measure income by each of the three methods simultaneously in India? Explain briefly giving examples. Name four sub sectors of the Indian economy where the income approach is used? (3 + 2=5 marks)

Q 17.Distinguish between an indirect tax and a subsidy. Give two examples of each . What is the impact of subsidies on factor payment?(2+2+1=5 marks)

Q 18.Calculate GDP at Market Price by (a) Production method and
(b) Income Method. (3+2=5 marks)

(i) Intermediate Consumption of :
(a) Primary Sector
(b) Secondary Sector
(c) Tertiary Sector

(ii) Value of output of :
(a) Primary Sector
(b) Secondary Sector
(c) Tertiary Sector

(iii) Rent
(iv) Emoluments of Employees
(v) Mixed Income
(vi) Operating Surplus
(vii) Net factor income from abroad
(ix) Consumption of fixed capital
(x) Net indirect tax

(Rs. crores)


( - ) 20

Section B

Q 19.What is a normative statment? (1 mark)

Q 20.What is meant by economising resource? (1 mark)

Q 21.Define monopolistic competition? (1 mark)

Q 22.When total production increases at decreasing rate what happens to the marginal product. (1 mark)

Q 23.Give the meanings of excessive demand and deficient demand in macro-economics?(2 marks )

Q 24.State any two circumstances under which abnormal profits may arise? (2 marks)

Q 25.Explain relationship between Marginal Revenue and Average Revenue. Use diagram. (3 marks)

Q 26.State the steps involved in the construction of an economic theory? (3 marks)

Q 27.Why do households buy more of a good at a lower price? Explain.
(3 marks)

Q 28.Explain any three factors affecting the supply of a good? (3 marks)

Q 29.A consumer buys 100 units of good X at Rs. 5/- per unit. The price elasticity of demand for the good is 2. At what price will he be willing to buy 140 units of good X ? (3 marks)

Q 30.What can be the effects on the equlibrium price of a commodity when its demand & supply curves both shift to the right simultaneously? Show any one of these effects on a diagram. (11/2 + 11/2 marks)

Q 31.How do changes in bank rates affect availability of credit? Explain.
(3 marks)

Q 32.Explain the three features of monopoly market? (3 marks)

Q 33.Explain briefly the Loanable Fund Theory of Interest? (3 marks)

Q 34.Explain the theory of determination of income and employment with the help of aggregate demand & aggregate supply curves. (5 marks)

Q 35.Explain five factors determining price elasticity of demand? (5 marks)

Q 36.Explain five factors causing scarcity of labour to an industry? (5 marks)