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

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Economics Class - XII  (CBSE)
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Time allowed: 3 hours
Maxiumam marks:100

Q.1 Define production process. (1)

Q.2 Define Primary Sector. (1)

Q. 3 What is added to domestic factor income to obtain National Income? (1)

Q. 4 State the two final uses of any commodity. (1)

Q.5 Define an Economic Good. Give two examples. (2)

Q. 6 Find out Compensation of Employees: (2)

(i) Wages in cash 4000
(ii) Dearness allowance 1000
(iii) Rental value of rent-free accomodation 2000
(iv) Employer's contribution to provident fund 500
(v) Transport allowance 200

Q. 7 Explain briefly the technical interdependence among enterprises. (3)

Q. 8 Explain the relationship among production, consumption and capital formation. (3)

Q. 9 Which of the following expenditures incurred are on intermediate products and which are on final products? You must state reasons for your answer.
(i) Purchase of ticket for train journey by an individual.
(ii) Purchase of eatables by a firm.
(iii) Purchase of a car by an employer for office use by his employees. (3)

Q. 10 Calculate Net Value Added at Factor Cost. (3)

    (Rs. Lakhs)
(i) Sales tax 25
(ii) Consumption of fixed capital 05
(iii) Closing stock 10
(iv) Corporate tax 15
(v) Opening stock 20
(vi) Sales 540
(vii) Purchases of raw materials 140

Q.11 Explain the distinction between Voluntary and Compulsary transfer of payments and give one example of each.

Q.12 What type of data do we require to measure national income at each of the three phases of circular flow of income? (3)

Q.13 Explain briefly the two ways of avoiding double counting in the measurement of national income. (3)

Q.14 Distinguish between Secondary Sector and Tertiary Sector.

Q.15 Explain briefly the steps taken in estimating national income by production method. (3)

Q.16 Define net factor income from abroad. Briefly explain its components. (1+4)

Q.17 Calculate Gross National Product at Market Price by a) income method and b) expenditure method. (2+3)

    Rs. Crores:
(i) Net Exports 10
(ii) Rent 20
(iii) Private final consumption expenditure 400
(iv) Interest 30
(v) Dividents 45
(vi) Undistributed profits 5
(vii) Corporate Tax 10
(viii) Government Final Consumption expenditure 100
(ix) Net Domestic Capital Formation 50
(x) Compensation of Employees 400
(xi) Consumption of fixed capital 10
(xii) Net Indirest taxes 50
(xiii) Net factor income from abroad


Q.18 How is National Income originating in agriculture and allied activities sector estimated in India? Explain. (5)


Q.19 Give the meaning of Economising of resources. (1)

Q.20 If disposable income is Rs. 1000/- and Consumption Expenditure is Rs. 750, find out Average Propensity to Save. (1)

Q.21 In which method of constructing an economic theory do we start with facts? (1)

Q.22 If the value of marginal propensity to save is 0.25, what is the value of multiplier. (1)

Q.23 What is the relationship between income of a consumer and demand for a good that he consumes? (1)

Q. 24 Any quantity of a factor of production is available in the market at a given price. Show clearly the economic rent accrueing to that factor of production on a diagram only. (2)

Q. 25 Explain the problem of efficiency in the use of resources. (3)

Q. 26 The market demand for a good at Rs. 4 Per Unit is 100 units. The price rises and as a result its market demand falls to 75 units. Find out the new price if the price elacticity of demand of that good is (-1). (3)

Q. 27 Total fixed cost is Rs. 90. Complete the following table: (3)

Output (Unit) Marginal Cost(Rs) Total Cost (Rs) Average Total cost(Rs)
1 10 100 100
2 20 120 60
3 15 135 45

Q. 28 Explain the relationship between Marginal Product and Total Product. (3)

Q.29 Explain with the help of a diagram the determination of price of a commodity under Perfect Competition. (3)

Q. 30 Explain how the supply of a commodity is affected by the prices of other related commodities. (3)

Q. 31 How does the availability of close substitutes of a good affect the price elasticity of demand of that good? Explain. (3)

Q. 32 Explain any three factors that determine demand for a factor of production. (3)

Q. 33 Explain the concept of inflationary gap. Use diagram. (3)

Q. 34 Explain the characteristics of a perfectly competitive market. (5)

Q. 35 What is 'net interest'. Explain briefly the loanable funds theory of interest. Use diagram. (2+3)

Q.36 What is 'deficient demand" in macro economics? How do the following affect it : (1+2+2)
a) Change in Cash Reserve Ratio
b) Change in Tax rates.

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