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Page 1
Economics
Date: Class: XI
Time:3 hrs. M. M: 100
General Instructions:
All questions in both the sections are compulsory.
Marks for questions are indicated against each.
Questions No. 1-2 and 14-16 are very short answer questions carrying 1 mark each. They are required
to be answered in one sentence each.
Questions No. 3-6 and 17-21 are short-answer questions carrying 3 marks each. Answers to them
should normally not exceed 60 words each.
Questions No. 7-9 and 22-23 are also short-answer questions carrying 4 marks each. Answers to them
should normally not exceed 70 words each.
Questions No. 10-13 and 24-27 are long-answer questions carrying 6 marks each. Answers to them
should normally not exceed 100 words each.
Answers should be brief and to the point and the above word limits should be adhered to as far as
possible.
(SECTION – A: STATISTICS)
1 An additional observation 15 in included in the series of 11 observations and its mean remain
unaffected. The mean of the series was:
a) 11 b) 15 c) 165 d) 4
1
2 Define statistical enquiry.
1
3 Following table gives data on production and sale of a factory between January to June. Make
historigram.
Production
(in tones)
5 8 6 10 12 15
Sales(in
thousands)
7 10 8 12 15 17
3
4. Explain why the statistical relations are generally inexact.
OR
What is the relationship between economics and statistics? How far is it correct to say that
science of economics is becoming statistical in its method?
3
5 The mean monthly salary paid to all employees in accompany is Rs 1600. The mean monthly
salaries paid to technical and non technical employees are Rs 1800 and Rs 1200 respectively.
Determine the ratio of technical and non technical employees.
3
6. The ministry of Education is interested in determining the level of education in the country.
How would you organize a survey for this purpose?
3
Page 2
Economics
Date: Class: XI
Time:3 hrs. M. M: 100
General Instructions:
All questions in both the sections are compulsory.
Marks for questions are indicated against each.
Questions No. 1-2 and 14-16 are very short answer questions carrying 1 mark each. They are required
to be answered in one sentence each.
Questions No. 3-6 and 17-21 are short-answer questions carrying 3 marks each. Answers to them
should normally not exceed 60 words each.
Questions No. 7-9 and 22-23 are also short-answer questions carrying 4 marks each. Answers to them
should normally not exceed 70 words each.
Questions No. 10-13 and 24-27 are long-answer questions carrying 6 marks each. Answers to them
should normally not exceed 100 words each.
Answers should be brief and to the point and the above word limits should be adhered to as far as
possible.
(SECTION – A: STATISTICS)
1 An additional observation 15 in included in the series of 11 observations and its mean remain
unaffected. The mean of the series was:
a) 11 b) 15 c) 165 d) 4
1
2 Define statistical enquiry.
1
3 Following table gives data on production and sale of a factory between January to June. Make
historigram.
Production
(in tones)
5 8 6 10 12 15
Sales(in
thousands)
7 10 8 12 15 17
3
4. Explain why the statistical relations are generally inexact.
OR
What is the relationship between economics and statistics? How far is it correct to say that
science of economics is becoming statistical in its method?
3
5 The mean monthly salary paid to all employees in accompany is Rs 1600. The mean monthly
salaries paid to technical and non technical employees are Rs 1800 and Rs 1200 respectively.
Determine the ratio of technical and non technical employees.
3
6. The ministry of Education is interested in determining the level of education in the country.
How would you organize a survey for this purpose?
3
7 Draw a blank table to present population of India according to workers and non workers by
gender and location.
OR
Represent the following data by rectangle diagram (i) using original units (ii) on percentage
basis.
Item of Expenditure R Family S Family
Food 400 640
Clothing 250 480
Rent 150 320
Education 340 100
Misc. 160 60
4
8. What are the kinds of errors you would expect in the field survey by census methods?
4
9 Find the missing frequencies f1,f2 in the following distribution. It is given median of the
distribution is 41 and total no of observations is 82.
Class 10-20 20-30 30-40 40-50 50-60 60-70
Frequency 10 F1 15 20 F2 11
4
10 What is the purpose of collecting data? Which instrument is the most important and common
while collecting data? What precautions should be taken while using that instrument?
OR
a) Describe the procedure of drawing frequency polygon with example.
b) Explain briefly the types of frequency curves.
6
11 a) Data collected by investigator may often be misunderstanding. What could be done in such
case? Give reasons.
b) What is the loss of information in classified data?
6
12 a) Distinguish between simple and weighted averages. State the circumstances under which
both should be used.
b) Calculate the simple and weighted average from the following data and account for
difference between the two.
Month Jan Feb March April May June
Price per ton 42.5 51.25 50 52 44.25 54
Tons purchased 25 30 40 50 10 45
6
13 a) Prove that the algebraic sum of the deviations of all the values from their mean is zero.
b) Calculate the mode graphically
Marks 0-5 5-10 10-20 20-40 40-60 60-80 80-90 90-100
F 5 7 9 25 30 24 8 6
6
SECTION B: INDIAN ECONOMIC DEVELOPMENT
14 During British period, Indian Economy was:
a) Backward b) Semi Feudal c) Both a and b c) None of these
1
15 When was NITI Aayog established?
a) 1991 b) 2001 c) 2011 d)2015
1
16 What is the most important function of RBI?
1
Page 3
Economics
Date: Class: XI
Time:3 hrs. M. M: 100
General Instructions:
All questions in both the sections are compulsory.
Marks for questions are indicated against each.
Questions No. 1-2 and 14-16 are very short answer questions carrying 1 mark each. They are required
to be answered in one sentence each.
Questions No. 3-6 and 17-21 are short-answer questions carrying 3 marks each. Answers to them
should normally not exceed 60 words each.
Questions No. 7-9 and 22-23 are also short-answer questions carrying 4 marks each. Answers to them
should normally not exceed 70 words each.
Questions No. 10-13 and 24-27 are long-answer questions carrying 6 marks each. Answers to them
should normally not exceed 100 words each.
Answers should be brief and to the point and the above word limits should be adhered to as far as
possible.
(SECTION – A: STATISTICS)
1 An additional observation 15 in included in the series of 11 observations and its mean remain
unaffected. The mean of the series was:
a) 11 b) 15 c) 165 d) 4
1
2 Define statistical enquiry.
1
3 Following table gives data on production and sale of a factory between January to June. Make
historigram.
Production
(in tones)
5 8 6 10 12 15
Sales(in
thousands)
7 10 8 12 15 17
3
4. Explain why the statistical relations are generally inexact.
OR
What is the relationship between economics and statistics? How far is it correct to say that
science of economics is becoming statistical in its method?
3
5 The mean monthly salary paid to all employees in accompany is Rs 1600. The mean monthly
salaries paid to technical and non technical employees are Rs 1800 and Rs 1200 respectively.
Determine the ratio of technical and non technical employees.
3
6. The ministry of Education is interested in determining the level of education in the country.
How would you organize a survey for this purpose?
3
7 Draw a blank table to present population of India according to workers and non workers by
gender and location.
OR
Represent the following data by rectangle diagram (i) using original units (ii) on percentage
basis.
Item of Expenditure R Family S Family
Food 400 640
Clothing 250 480
Rent 150 320
Education 340 100
Misc. 160 60
4
8. What are the kinds of errors you would expect in the field survey by census methods?
4
9 Find the missing frequencies f1,f2 in the following distribution. It is given median of the
distribution is 41 and total no of observations is 82.
Class 10-20 20-30 30-40 40-50 50-60 60-70
Frequency 10 F1 15 20 F2 11
4
10 What is the purpose of collecting data? Which instrument is the most important and common
while collecting data? What precautions should be taken while using that instrument?
OR
a) Describe the procedure of drawing frequency polygon with example.
b) Explain briefly the types of frequency curves.
6
11 a) Data collected by investigator may often be misunderstanding. What could be done in such
case? Give reasons.
b) What is the loss of information in classified data?
6
12 a) Distinguish between simple and weighted averages. State the circumstances under which
both should be used.
b) Calculate the simple and weighted average from the following data and account for
difference between the two.
Month Jan Feb March April May June
Price per ton 42.5 51.25 50 52 44.25 54
Tons purchased 25 30 40 50 10 45
6
13 a) Prove that the algebraic sum of the deviations of all the values from their mean is zero.
b) Calculate the mode graphically
Marks 0-5 5-10 10-20 20-40 40-60 60-80 80-90 90-100
F 5 7 9 25 30 24 8 6
6
SECTION B: INDIAN ECONOMIC DEVELOPMENT
14 During British period, Indian Economy was:
a) Backward b) Semi Feudal c) Both a and b c) None of these
1
15 When was NITI Aayog established?
a) 1991 b) 2001 c) 2011 d)2015
1
16 What is the most important function of RBI?
1
17.
Why did the government of India adopt the concept of mixed economy?
OR
Though public sector is very essential for industries, many public sector undertakings incur
huge losses and are a drain on economy’s resources. Discuss the usefulness of public sector
undertakings in the light of this context.
3
18.
What do you understand by stabilization and structural measures? 3
19. The Policy of colonial exploitation of the Indian Economy during the British raj had some
positive side effects for the Indian economy. Do you agree? Give reasons.
3
20. Discuss the role of small scale industries with respect to employment generation and regional
equality.
3
21. Differentiate between privatization and denationalization. Give examples. 3
22. What is meant by export surplus? How did export surplus during British rule lead to the
economic drain of Indian wealth?
4
23. What was the basic problem that forced us to have a U –turn in our policy since 1991?
OR
What is outsourcing? How it is affecting Indian economy and developed economies?
4
24. How was the private sector regulated under the IPR 1956? 6
25. Describe briefly the features of the economy that India inherited from her colonial past. 6
26. Write your views on the need for inclusive growth for the Indian economy. Is inclusive
growth achievable for a developing economy like India when exposed to the process of
Privatization and Globalization?
6
27. Write a critical review of New Economic Policy.
OR
“Economic reforms in India have not benefitted the common man.” Explain.
6
Page 4
Economics
Date: Class: XI
Time:3 hrs. M. M: 100
General Instructions:
All questions in both the sections are compulsory.
Marks for questions are indicated against each.
Questions No. 1-2 and 14-16 are very short answer questions carrying 1 mark each. They are required
to be answered in one sentence each.
Questions No. 3-6 and 17-21 are short-answer questions carrying 3 marks each. Answers to them
should normally not exceed 60 words each.
Questions No. 7-9 and 22-23 are also short-answer questions carrying 4 marks each. Answers to them
should normally not exceed 70 words each.
Questions No. 10-13 and 24-27 are long-answer questions carrying 6 marks each. Answers to them
should normally not exceed 100 words each.
Answers should be brief and to the point and the above word limits should be adhered to as far as
possible.
(SECTION – A: STATISTICS)
1 An additional observation 15 in included in the series of 11 observations and its mean remain
unaffected. The mean of the series was:
a) 11 b) 15 c) 165 d) 4
1
2 Define statistical enquiry.
1
3 Following table gives data on production and sale of a factory between January to June. Make
historigram.
Production
(in tones)
5 8 6 10 12 15
Sales(in
thousands)
7 10 8 12 15 17
3
4. Explain why the statistical relations are generally inexact.
OR
What is the relationship between economics and statistics? How far is it correct to say that
science of economics is becoming statistical in its method?
3
5 The mean monthly salary paid to all employees in accompany is Rs 1600. The mean monthly
salaries paid to technical and non technical employees are Rs 1800 and Rs 1200 respectively.
Determine the ratio of technical and non technical employees.
3
6. The ministry of Education is interested in determining the level of education in the country.
How would you organize a survey for this purpose?
3
7 Draw a blank table to present population of India according to workers and non workers by
gender and location.
OR
Represent the following data by rectangle diagram (i) using original units (ii) on percentage
basis.
Item of Expenditure R Family S Family
Food 400 640
Clothing 250 480
Rent 150 320
Education 340 100
Misc. 160 60
4
8. What are the kinds of errors you would expect in the field survey by census methods?
4
9 Find the missing frequencies f1,f2 in the following distribution. It is given median of the
distribution is 41 and total no of observations is 82.
Class 10-20 20-30 30-40 40-50 50-60 60-70
Frequency 10 F1 15 20 F2 11
4
10 What is the purpose of collecting data? Which instrument is the most important and common
while collecting data? What precautions should be taken while using that instrument?
OR
a) Describe the procedure of drawing frequency polygon with example.
b) Explain briefly the types of frequency curves.
6
11 a) Data collected by investigator may often be misunderstanding. What could be done in such
case? Give reasons.
b) What is the loss of information in classified data?
6
12 a) Distinguish between simple and weighted averages. State the circumstances under which
both should be used.
b) Calculate the simple and weighted average from the following data and account for
difference between the two.
Month Jan Feb March April May June
Price per ton 42.5 51.25 50 52 44.25 54
Tons purchased 25 30 40 50 10 45
6
13 a) Prove that the algebraic sum of the deviations of all the values from their mean is zero.
b) Calculate the mode graphically
Marks 0-5 5-10 10-20 20-40 40-60 60-80 80-90 90-100
F 5 7 9 25 30 24 8 6
6
SECTION B: INDIAN ECONOMIC DEVELOPMENT
14 During British period, Indian Economy was:
a) Backward b) Semi Feudal c) Both a and b c) None of these
1
15 When was NITI Aayog established?
a) 1991 b) 2001 c) 2011 d)2015
1
16 What is the most important function of RBI?
1
17.
Why did the government of India adopt the concept of mixed economy?
OR
Though public sector is very essential for industries, many public sector undertakings incur
huge losses and are a drain on economy’s resources. Discuss the usefulness of public sector
undertakings in the light of this context.
3
18.
What do you understand by stabilization and structural measures? 3
19. The Policy of colonial exploitation of the Indian Economy during the British raj had some
positive side effects for the Indian economy. Do you agree? Give reasons.
3
20. Discuss the role of small scale industries with respect to employment generation and regional
equality.
3
21. Differentiate between privatization and denationalization. Give examples. 3
22. What is meant by export surplus? How did export surplus during British rule lead to the
economic drain of Indian wealth?
4
23. What was the basic problem that forced us to have a U –turn in our policy since 1991?
OR
What is outsourcing? How it is affecting Indian economy and developed economies?
4
24. How was the private sector regulated under the IPR 1956? 6
25. Describe briefly the features of the economy that India inherited from her colonial past. 6
26. Write your views on the need for inclusive growth for the Indian economy. Is inclusive
growth achievable for a developing economy like India when exposed to the process of
Privatization and Globalization?
6
27. Write a critical review of New Economic Policy.
OR
“Economic reforms in India have not benefitted the common man.” Explain.
6
Answer Key
Date of Exam: Class: XI
Subject: Economics
Instructions:
(SECTION – A: STATISTICS)
1 An additional observation 15 in included in the series of 11 observations and its mean remain
unaffected. The mean of the series was:
b) 15
1
2 Define statistical enquiry.
Knowledge through statistical methods………….1mk
1
3 Following table gives data on production and sale of a factory between January to June. Make
historigram.
Production
(in tones)
5 8 6 10 12 15
Sales(in
thousands)
7 10 8 12 15 17
Arithmetic line graph to be made of two variables…2mk
Common average to be find out……..1mk
3
4. Explain why the statistical relations are generally inexact.
Limitations
1. results are true only on averages
2. lack mathematical accuracy
3. laws are not perfectly accurate……………1mk each with explanation
OR
What is the relationship between economics and statistics? How far is it correct to say that science of
economics is becoming statistical in its method?
1) understanding and solving economic problems
2) inter sectoral comparison
3) economic policy formulation
4) helpful in research………….0.5mk each
Yes true as statistical methods are used to prove the economic laws…1mk
3
5 The mean monthly salary paid to all employees in accompany is Rs 1600. The mean monthly salaries
paid to technical and non technical employees are Rs 1800 and Rs 1200 respectively. Determine the
ratio of technical and non technical employees.
Combined Mean
X12 = X1N1 +X2N2/N1+N2
1600 = 1800N1 + 1200 N2/N1 + N2……………….0.5mk
1600N1 + 1600N2 = 1800N1 + 1200N2…………..0.5mk
1600N2- 1200N2 = 1800N1 – 1600N1……………….1mk
400N2 = 200N1
400/200 = N1/N2
2:1 = N1:N2……………….1mk
3
Page 5
Economics
Date: Class: XI
Time:3 hrs. M. M: 100
General Instructions:
All questions in both the sections are compulsory.
Marks for questions are indicated against each.
Questions No. 1-2 and 14-16 are very short answer questions carrying 1 mark each. They are required
to be answered in one sentence each.
Questions No. 3-6 and 17-21 are short-answer questions carrying 3 marks each. Answers to them
should normally not exceed 60 words each.
Questions No. 7-9 and 22-23 are also short-answer questions carrying 4 marks each. Answers to them
should normally not exceed 70 words each.
Questions No. 10-13 and 24-27 are long-answer questions carrying 6 marks each. Answers to them
should normally not exceed 100 words each.
Answers should be brief and to the point and the above word limits should be adhered to as far as
possible.
(SECTION – A: STATISTICS)
1 An additional observation 15 in included in the series of 11 observations and its mean remain
unaffected. The mean of the series was:
a) 11 b) 15 c) 165 d) 4
1
2 Define statistical enquiry.
1
3 Following table gives data on production and sale of a factory between January to June. Make
historigram.
Production
(in tones)
5 8 6 10 12 15
Sales(in
thousands)
7 10 8 12 15 17
3
4. Explain why the statistical relations are generally inexact.
OR
What is the relationship between economics and statistics? How far is it correct to say that
science of economics is becoming statistical in its method?
3
5 The mean monthly salary paid to all employees in accompany is Rs 1600. The mean monthly
salaries paid to technical and non technical employees are Rs 1800 and Rs 1200 respectively.
Determine the ratio of technical and non technical employees.
3
6. The ministry of Education is interested in determining the level of education in the country.
How would you organize a survey for this purpose?
3
7 Draw a blank table to present population of India according to workers and non workers by
gender and location.
OR
Represent the following data by rectangle diagram (i) using original units (ii) on percentage
basis.
Item of Expenditure R Family S Family
Food 400 640
Clothing 250 480
Rent 150 320
Education 340 100
Misc. 160 60
4
8. What are the kinds of errors you would expect in the field survey by census methods?
4
9 Find the missing frequencies f1,f2 in the following distribution. It is given median of the
distribution is 41 and total no of observations is 82.
Class 10-20 20-30 30-40 40-50 50-60 60-70
Frequency 10 F1 15 20 F2 11
4
10 What is the purpose of collecting data? Which instrument is the most important and common
while collecting data? What precautions should be taken while using that instrument?
OR
a) Describe the procedure of drawing frequency polygon with example.
b) Explain briefly the types of frequency curves.
6
11 a) Data collected by investigator may often be misunderstanding. What could be done in such
case? Give reasons.
b) What is the loss of information in classified data?
6
12 a) Distinguish between simple and weighted averages. State the circumstances under which
both should be used.
b) Calculate the simple and weighted average from the following data and account for
difference between the two.
Month Jan Feb March April May June
Price per ton 42.5 51.25 50 52 44.25 54
Tons purchased 25 30 40 50 10 45
6
13 a) Prove that the algebraic sum of the deviations of all the values from their mean is zero.
b) Calculate the mode graphically
Marks 0-5 5-10 10-20 20-40 40-60 60-80 80-90 90-100
F 5 7 9 25 30 24 8 6
6
SECTION B: INDIAN ECONOMIC DEVELOPMENT
14 During British period, Indian Economy was:
a) Backward b) Semi Feudal c) Both a and b c) None of these
1
15 When was NITI Aayog established?
a) 1991 b) 2001 c) 2011 d)2015
1
16 What is the most important function of RBI?
1
17.
Why did the government of India adopt the concept of mixed economy?
OR
Though public sector is very essential for industries, many public sector undertakings incur
huge losses and are a drain on economy’s resources. Discuss the usefulness of public sector
undertakings in the light of this context.
3
18.
What do you understand by stabilization and structural measures? 3
19. The Policy of colonial exploitation of the Indian Economy during the British raj had some
positive side effects for the Indian economy. Do you agree? Give reasons.
3
20. Discuss the role of small scale industries with respect to employment generation and regional
equality.
3
21. Differentiate between privatization and denationalization. Give examples. 3
22. What is meant by export surplus? How did export surplus during British rule lead to the
economic drain of Indian wealth?
4
23. What was the basic problem that forced us to have a U –turn in our policy since 1991?
OR
What is outsourcing? How it is affecting Indian economy and developed economies?
4
24. How was the private sector regulated under the IPR 1956? 6
25. Describe briefly the features of the economy that India inherited from her colonial past. 6
26. Write your views on the need for inclusive growth for the Indian economy. Is inclusive
growth achievable for a developing economy like India when exposed to the process of
Privatization and Globalization?
6
27. Write a critical review of New Economic Policy.
OR
“Economic reforms in India have not benefitted the common man.” Explain.
6
Answer Key
Date of Exam: Class: XI
Subject: Economics
Instructions:
(SECTION – A: STATISTICS)
1 An additional observation 15 in included in the series of 11 observations and its mean remain
unaffected. The mean of the series was:
b) 15
1
2 Define statistical enquiry.
Knowledge through statistical methods………….1mk
1
3 Following table gives data on production and sale of a factory between January to June. Make
historigram.
Production
(in tones)
5 8 6 10 12 15
Sales(in
thousands)
7 10 8 12 15 17
Arithmetic line graph to be made of two variables…2mk
Common average to be find out……..1mk
3
4. Explain why the statistical relations are generally inexact.
Limitations
1. results are true only on averages
2. lack mathematical accuracy
3. laws are not perfectly accurate……………1mk each with explanation
OR
What is the relationship between economics and statistics? How far is it correct to say that science of
economics is becoming statistical in its method?
1) understanding and solving economic problems
2) inter sectoral comparison
3) economic policy formulation
4) helpful in research………….0.5mk each
Yes true as statistical methods are used to prove the economic laws…1mk
3
5 The mean monthly salary paid to all employees in accompany is Rs 1600. The mean monthly salaries
paid to technical and non technical employees are Rs 1800 and Rs 1200 respectively. Determine the
ratio of technical and non technical employees.
Combined Mean
X12 = X1N1 +X2N2/N1+N2
1600 = 1800N1 + 1200 N2/N1 + N2……………….0.5mk
1600N1 + 1600N2 = 1800N1 + 1200N2…………..0.5mk
1600N2- 1200N2 = 1800N1 – 1600N1……………….1mk
400N2 = 200N1
400/200 = N1/N2
2:1 = N1:N2……………….1mk
3
6. The ministry of Education is interested in determining the level of education in the country. How
would you organize a survey for this purpose?
Sampling methods:…..0.5mk
Stratified sampling: population is divided into different strata and then few samples are selected
randomly………….1mk
Merits
True representative in nature
Greater accuracy
Useful to study the special characteristics of lager population ………1.5 mk each
3
7 Draw a blank table to present population of India according to workers and non workers by gender
and location.
Table No 1
Composition of Population of India
Location Workers Non workers Total
Male Female Male Female Male Female
North
East
South
West
Source:
Footnote:
Marks to be given accordingly for the correct format
OR
Represent the following data by rectangle diagram (i) using original units (ii) on percentage basis.
Item of Expenditure R Family S Family Percentage
R
Percentage
S
Food 400 640 30.7 40
Clothing 250 480 19.2 30
Rent 150 320 11.5 20
Education 340 100 26.1 6.2
Misc. 160 60 12.3 3.7
1600
1200
800
400
0
2 mk for sub divided diagram and 2 mk for percentage diagram
4
8. What are the kinds of errors you would expect in the field survey by census methods?
Non sampling errors
1) error of misinterpretation
2) error of biased
3) error of calculation
4) error of non response……………..1mk each with brief explanation
4
9 Find the missing frequencies f1,f2 in the following distribution. It is given median of the distribution
is 41 and total no of observations is 82.
Class 10-20 20-30 30-40 40-50 50-60 60-70
4
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FAQs on Class 11 Economics Previous Year Paper - 2 - Economics Class 11 - Commerce
| 1. What are the major objectives of fiscal policy? |  |
Ans. The major objectives of fiscal policy are to promote economic growth, maintain price stability, achieve full employment, and ensure equitable distribution of income and wealth. Fiscal policy involves the use of government spending, taxation, and borrowing to influence the overall state of the economy.
| 2. How does expansionary fiscal policy work to stimulate economic growth? | |
Ans. Expansionary fiscal policy involves increasing government spending and/or reducing taxes to stimulate economic growth. When the government spends more or reduces taxes, it injects more money into the economy, increasing aggregate demand. This increased demand leads to higher production and employment levels, ultimately stimulating economic growth.
| 3. What is the difference between revenue expenditure and capital expenditure? | |
Ans. Revenue expenditure refers to the expenses incurred by the government on day-to-day operations and maintenance of the government machinery. It includes expenses on salaries, pensions, subsidies, interest payments, etc. On the other hand, capital expenditure refers to the expenses incurred by the government on creating assets or investments that yield benefits over a long period of time. It includes expenses on infrastructure development, construction of schools, hospitals, etc.
| 4. What is the role of the Reserve Bank of India in fiscal policy? | |
Ans. The Reserve Bank of India (RBI) plays a crucial role in fiscal policy implementation. It acts as the government's banker and provides banking services to the government. It manages the government's accounts, facilitates borrowing, and regulates the money supply in the economy. The RBI also advises the government on various fiscal matters and ensures the stability of the financial system.
| 5. How does fiscal deficit affect the economy? | |
Ans. Fiscal deficit occurs when the government's total expenditure exceeds its total revenue in a fiscal year. It is usually financed through borrowing, which leads to an increase in public debt. A high fiscal deficit can have negative effects on the economy, such as higher interest rates, inflationary pressures, and crowding out of private investment. It can also lead to a higher debt burden, which may limit the government's ability to spend on productive sectors in the future.
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Document Description: Class 11 Economics Previous Year Paper - 2 for Commerce 2024 is part of Economics Class 11 preparation.
The notes and questions for Class 11 Economics Previous Year Paper - 2 have been prepared according to the Commerce exam syllabus. Information about Class 11 Economics Previous Year Paper - 2 covers topics
like and Class 11 Economics Previous Year Paper - 2 Example, for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Class 11 Economics Previous Year Paper - 2.
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Full syllabus notes, lecture & questions for Class 11 Economics Previous Year Paper - 2 | Economics Class 11 - Commerce - Commerce | Plus excerises question with solution to help you revise complete syllabus for Economics Class 11 | Best notes, free PDF download
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Additional Information about Class 11 Economics Previous Year Paper - 2 for Commerce Preparation
Class 11 Economics Previous Year Paper - 2 Free PDF Download
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