CBSE Set Set1 Economics Sample Test Papers For Class 12th for students online
Time allowed: 3 hours
Q1 Why are exports included in the estimation of national income ? (1 mark)
Q2 Give two examples of non-departmental government enterprises in India.
Q3 Name any two sub-sectors of the Indian Economy for which production method is used for estimating their contribution to national income. (1mark)
Q4 Name any two subsectors of the tertiary sectors in India. (1 mark)
Q5 Distinguish between current transfers and capital transfers. (2 marks)
Q6 Define gross domestic capital formation. Are purchases and sales of second-hand assets in the domestic market included in it? Give reasons in brief. (1+1 marks)
Q7 What does intermediate consumption of general government include?
(3 marks )
Q8 Explain with the help of an example the process based division of labour. (3 marks)
Q9 How is factor income generated in the production process? Explain.
Q10 Distinguish between national income at constant prices and national income at current prices.Explain briefly. (3 marks)
Q11 From the following data calculate value added by firm X and by firm Y.
|i.||Closing stock of firm X||20|
|ii||Closing stock of firm Y||15|
|iii||Opening stock of firm Y||10|
|iv||Opening stock of firm X||5|
|v||Sales by firm X||300|
|vi||Purchases by firm X from firm Y||100|
|vii||Purchase by firm Y from firm X||80|
|viii||Sales by firm Y||250|
|ix||Import of raw material by firm X||50|
|x||Exports by firm Y||30|
Q12 Distinguish between intermediate
goods and capital goods.Give two examples of each. (3 marks)
Q13 Calculate gross national product at factor cost from the following data :
|i.||Net domestic capital formation||350|
|iii||Government final consumption expenditure||200|
|iv||Net indirect taxes||50|
|vi||Consumption of fixed capital||50|
|viii||Private final consumption expenditure||1500|
|x||Net factor income from abroad||-(10)|
Q14 How is the net value added by registered manufacturing sector estimated in India? (3 marks)
Q15 Calculate national income from the following data :
|i.||Mixed income of self-employed||200|
|v||Wages and salaries||500|
|vii||Employers' contribution to social security schemes||50|
|viii||Net factor income from abroad||-(10)|
|ix||Consumption of fixed capital||50|
|x||Net indirect taxes||50|
Q16 Define domestic factor income.
Describe briefly its three components. (1+4 marks)
Q17 Explain briefly any five precautions to be taken while estimating national income by income method.(5 marks)
Q18 Explain the value-added method of estimating national income. (5 marks)
Q19 Define marginal propensity to consume. (1 mark)
Q20 When does a situation of deficit demand arise in an economy? (1 ,mark)
Q21 Define involuntary unemployment. (1 mark)
Q22 What is meant by aggregate supply in macroeconomics? (1 mark)
Q23 Distinguish between average revenue and marginal revenue. (2 marks)
Q24 Explain any one factor that affects the demand for a factor of production by a firm under perfect competition. (2 marks)
Q25 State the six factors that affect the market supply of a commodity.
Q26 What can be the effects of an increase in both the market demand and market supply of a commodity on interest price? Explain. (3 marks)
Q27 What can you say about economic rent when supply of a factor of production is (i) perfectly elastic and (ii) perfectly inelastic. Explain briefly.(3 marks)
Q28 How is the demand of a commodity affected by increase in the prices of other commodities?(3 marks)
Q29 Explain any three factors on which the price elasticity of demand for a commodity depends.(3 marks)
Q30 The following table shows the total cost of production of a firm at different levels of output. Find out the average variable cost and the marginal cost at each level of output :
Output (Units) 0 1 2 3
Total cost (Rs.) 60 100 130 150 (3)
Q31 Define monopolistic competition. State its any two basic features.
Q32 With the help of a diagram explain the concept of inflationary gap.
Q33 State three fiscal measures to reduce aggregate demand. (3 marks)
Q34 Explain briefly any five central problems of an economy. (5 marks)
Q35 Explain the law of variable proportions with the help of a diagram.
Q36 Explain the loanable fund theory of interest. Use diagram. (5 marks)