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Page 1
1
SAMPLE QUESTION PAPER (2022-23)
ECONOMICS (030) CLASS 12
TIME: 3 HOURS M.M. – 80
GENERAL INSTRUCTIONS:
1. This question paper contains two sections:
Section A – Macro Economics
Section B – Indian Economic Development
2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.
3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered
in 60 to 80 words.
4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered
in 80 to 100 words.
5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered
in 100 to 150 words.
Q.NO. SECTION A – MACRO ECONOMICS MARKS
1
Read the following statements carefully:
Statement 1: The consumption curve is an upward sloping straight line curve due to the
direct relationship between income and consumption and the assumption of constant
Marginal Propensity to Consume.
Statement 2: Aggregate Demand curve and Consumption curve are parallel to each other.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
2 ‘Owing to the Russia-Ukraine crisis, the world is experiencing rising crude prices due to
supply-side issues.’
Identify the most likely impact on the Balance of Payment situation of the Indian economy
from the following:
a) Production of cars in India will rise.
b) Production and sale of cycles in India will rise.
c) Inflow of US Dollars in India will rise.
d) Outflow of US Dollars from India will rise.
1
3 _________ is an institution that accept deposits for lending purposes.
(Fill up the blank with correct alternative)
a) Commercial Banks b) Life Insurance Corporation
c) Reserve Bank of India d) Government of India
1
Page 2
1
SAMPLE QUESTION PAPER (2022-23)
ECONOMICS (030) CLASS 12
TIME: 3 HOURS M.M. – 80
GENERAL INSTRUCTIONS:
1. This question paper contains two sections:
Section A – Macro Economics
Section B – Indian Economic Development
2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.
3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered
in 60 to 80 words.
4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered
in 80 to 100 words.
5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered
in 100 to 150 words.
Q.NO. SECTION A – MACRO ECONOMICS MARKS
1
Read the following statements carefully:
Statement 1: The consumption curve is an upward sloping straight line curve due to the
direct relationship between income and consumption and the assumption of constant
Marginal Propensity to Consume.
Statement 2: Aggregate Demand curve and Consumption curve are parallel to each other.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
2 ‘Owing to the Russia-Ukraine crisis, the world is experiencing rising crude prices due to
supply-side issues.’
Identify the most likely impact on the Balance of Payment situation of the Indian economy
from the following:
a) Production of cars in India will rise.
b) Production and sale of cycles in India will rise.
c) Inflow of US Dollars in India will rise.
d) Outflow of US Dollars from India will rise.
1
3 _________ is an institution that accept deposits for lending purposes.
(Fill up the blank with correct alternative)
a) Commercial Banks b) Life Insurance Corporation
c) Reserve Bank of India d) Government of India
1
2
4 Read the following statements carefully:
Statement 1: Export of financial services by India will be recorded on credit side of current
account.
Statement2: Foreign Direct Investments in India will be recorded on credit side of capital
account.
In the light of the given statements, choose the correct alternative:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
5
Read the following statements carefully:
Statement 1 - Net investment is a stock concept.
Statement 2 - Capital is a flow concept.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
OR
Read the following figure carefully and choose the correct pair from the alternatives given
below:
Alternatives:
a) Output, Production
b) Value added, Production
c) Output, Disposition
d) Wealth, Development
1
1
6 If in an economy, the value of investment multiplier is 4 and Autonomous Consumption is
? 30 Crore, the relevant consumption function would be :
Page 3
1
SAMPLE QUESTION PAPER (2022-23)
ECONOMICS (030) CLASS 12
TIME: 3 HOURS M.M. – 80
GENERAL INSTRUCTIONS:
1. This question paper contains two sections:
Section A – Macro Economics
Section B – Indian Economic Development
2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.
3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered
in 60 to 80 words.
4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered
in 80 to 100 words.
5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered
in 100 to 150 words.
Q.NO. SECTION A – MACRO ECONOMICS MARKS
1
Read the following statements carefully:
Statement 1: The consumption curve is an upward sloping straight line curve due to the
direct relationship between income and consumption and the assumption of constant
Marginal Propensity to Consume.
Statement 2: Aggregate Demand curve and Consumption curve are parallel to each other.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
2 ‘Owing to the Russia-Ukraine crisis, the world is experiencing rising crude prices due to
supply-side issues.’
Identify the most likely impact on the Balance of Payment situation of the Indian economy
from the following:
a) Production of cars in India will rise.
b) Production and sale of cycles in India will rise.
c) Inflow of US Dollars in India will rise.
d) Outflow of US Dollars from India will rise.
1
3 _________ is an institution that accept deposits for lending purposes.
(Fill up the blank with correct alternative)
a) Commercial Banks b) Life Insurance Corporation
c) Reserve Bank of India d) Government of India
1
2
4 Read the following statements carefully:
Statement 1: Export of financial services by India will be recorded on credit side of current
account.
Statement2: Foreign Direct Investments in India will be recorded on credit side of capital
account.
In the light of the given statements, choose the correct alternative:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
5
Read the following statements carefully:
Statement 1 - Net investment is a stock concept.
Statement 2 - Capital is a flow concept.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
OR
Read the following figure carefully and choose the correct pair from the alternatives given
below:
Alternatives:
a) Output, Production
b) Value added, Production
c) Output, Disposition
d) Wealth, Development
1
1
6 If in an economy, the value of investment multiplier is 4 and Autonomous Consumption is
? 30 Crore, the relevant consumption function would be :
3
a) C=30+0.75 Y b) C=(-)30+0.25Y
c) C=30-0.75Y d) C=30-0.25Y
OR
If increase in National Income is equal to increase in consumption, identity the value of
Marginal Propensity to Save :
a) Equal to unity b) Greater than one
c) Less than one d) Equal to zero
1
1
7 Money supply in India may increase if, ________________(Choose the correct alternative)
1. Reserve Bank of India(RBI) injects more money in circulation
2. the commercial banks expand their credit operation
3. tax rates are reduced by the Central Government
4. Reserve Bank of India increases the Bank Rate
Alternatives:
a) 1,2 and 3 are correct
b) 2,3 and 4 are correct
c) 1,3 and 4 are correct
d) 1,2 and 4 are correct
1
8 Suppose, following data is presented, for an imaginary economy: (all figures in ? ‘000 Crore)
Year Visible Exports Visible Imports
2010 280 240
2020 580 460
Identify, which of the statement about the period 2010 to 2020 is correct?
a) Improvement in balance of trade
b) Increase in trade deficit
c) Improvement in balance in invisibles items
d) Deterioration of balance of trade
OR
The following information is given for an imaginary country:
Current Account Amount (in ?’000
Crore)
Visible Exports 100
Visible Imports 150
Invisible Exports 70
Invisible Imports 30
Net current transfer balance 15
1
Page 4
1
SAMPLE QUESTION PAPER (2022-23)
ECONOMICS (030) CLASS 12
TIME: 3 HOURS M.M. – 80
GENERAL INSTRUCTIONS:
1. This question paper contains two sections:
Section A – Macro Economics
Section B – Indian Economic Development
2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.
3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered
in 60 to 80 words.
4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered
in 80 to 100 words.
5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered
in 100 to 150 words.
Q.NO. SECTION A – MACRO ECONOMICS MARKS
1
Read the following statements carefully:
Statement 1: The consumption curve is an upward sloping straight line curve due to the
direct relationship between income and consumption and the assumption of constant
Marginal Propensity to Consume.
Statement 2: Aggregate Demand curve and Consumption curve are parallel to each other.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
2 ‘Owing to the Russia-Ukraine crisis, the world is experiencing rising crude prices due to
supply-side issues.’
Identify the most likely impact on the Balance of Payment situation of the Indian economy
from the following:
a) Production of cars in India will rise.
b) Production and sale of cycles in India will rise.
c) Inflow of US Dollars in India will rise.
d) Outflow of US Dollars from India will rise.
1
3 _________ is an institution that accept deposits for lending purposes.
(Fill up the blank with correct alternative)
a) Commercial Banks b) Life Insurance Corporation
c) Reserve Bank of India d) Government of India
1
2
4 Read the following statements carefully:
Statement 1: Export of financial services by India will be recorded on credit side of current
account.
Statement2: Foreign Direct Investments in India will be recorded on credit side of capital
account.
In the light of the given statements, choose the correct alternative:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
5
Read the following statements carefully:
Statement 1 - Net investment is a stock concept.
Statement 2 - Capital is a flow concept.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
OR
Read the following figure carefully and choose the correct pair from the alternatives given
below:
Alternatives:
a) Output, Production
b) Value added, Production
c) Output, Disposition
d) Wealth, Development
1
1
6 If in an economy, the value of investment multiplier is 4 and Autonomous Consumption is
? 30 Crore, the relevant consumption function would be :
3
a) C=30+0.75 Y b) C=(-)30+0.25Y
c) C=30-0.75Y d) C=30-0.25Y
OR
If increase in National Income is equal to increase in consumption, identity the value of
Marginal Propensity to Save :
a) Equal to unity b) Greater than one
c) Less than one d) Equal to zero
1
1
7 Money supply in India may increase if, ________________(Choose the correct alternative)
1. Reserve Bank of India(RBI) injects more money in circulation
2. the commercial banks expand their credit operation
3. tax rates are reduced by the Central Government
4. Reserve Bank of India increases the Bank Rate
Alternatives:
a) 1,2 and 3 are correct
b) 2,3 and 4 are correct
c) 1,3 and 4 are correct
d) 1,2 and 4 are correct
1
8 Suppose, following data is presented, for an imaginary economy: (all figures in ? ‘000 Crore)
Year Visible Exports Visible Imports
2010 280 240
2020 580 460
Identify, which of the statement about the period 2010 to 2020 is correct?
a) Improvement in balance of trade
b) Increase in trade deficit
c) Improvement in balance in invisibles items
d) Deterioration of balance of trade
OR
The following information is given for an imaginary country:
Current Account Amount (in ?’000
Crore)
Visible Exports 100
Visible Imports 150
Invisible Exports 70
Invisible Imports 30
Net current transfer balance 15
1
4
Balance on current account will be ____________ of ? ______ thousand Crore.
a) deficit, 10
b) surplus,5
c) deficit, 5
d) surplus, 10
1
9 Read the following statement -Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Ex-post Investments represent planned Investments; whereas ex-ante
Investments represent actual level of investments.
Reason (R): At equilibrium level, Ex-ante Savings and Ex-ante Investments are always
equal.
Alternatives:
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct
explanation of Assertion (A).
c) Assertion (A) is true but Reason (R) is false.
d) Assertion (A) is false but Reason (R) is true.
1
10 Read the following statement -Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Saving curve makes a negative intercept on the vertical axis at zero level of
income.
Reason (R): Saving function refers to the functional relationship between saving and income.
Alternatives:
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct
explanation of Assertion (A).
c) Assertion (A) is true but Reason (R) is false.
d) Assertion (A) is false but Reason (R) is true.
1
11 Suppose in a hypothetical economy there are only two Firms A and B, Firm A sold goods
for ? 2,000 to Firm B and purchased goods for ? 1,000. Firm B exported goods for ? 2,500
and had domestic sales of ? 1,500. Calculate Net Domestic Product at market price, if
consumption of fixed capital is ? 200.
3
12 Explain, how exchange rate is determined under a free market exchange rate system.
OR
Distinguish between autonomous and accommodating transactions in Balance of Payments
Accounts.
3
3
Page 5
1
SAMPLE QUESTION PAPER (2022-23)
ECONOMICS (030) CLASS 12
TIME: 3 HOURS M.M. – 80
GENERAL INSTRUCTIONS:
1. This question paper contains two sections:
Section A – Macro Economics
Section B – Indian Economic Development
2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.
3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered
in 60 to 80 words.
4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered
in 80 to 100 words.
5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered
in 100 to 150 words.
Q.NO. SECTION A – MACRO ECONOMICS MARKS
1
Read the following statements carefully:
Statement 1: The consumption curve is an upward sloping straight line curve due to the
direct relationship between income and consumption and the assumption of constant
Marginal Propensity to Consume.
Statement 2: Aggregate Demand curve and Consumption curve are parallel to each other.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
2 ‘Owing to the Russia-Ukraine crisis, the world is experiencing rising crude prices due to
supply-side issues.’
Identify the most likely impact on the Balance of Payment situation of the Indian economy
from the following:
a) Production of cars in India will rise.
b) Production and sale of cycles in India will rise.
c) Inflow of US Dollars in India will rise.
d) Outflow of US Dollars from India will rise.
1
3 _________ is an institution that accept deposits for lending purposes.
(Fill up the blank with correct alternative)
a) Commercial Banks b) Life Insurance Corporation
c) Reserve Bank of India d) Government of India
1
2
4 Read the following statements carefully:
Statement 1: Export of financial services by India will be recorded on credit side of current
account.
Statement2: Foreign Direct Investments in India will be recorded on credit side of capital
account.
In the light of the given statements, choose the correct alternative:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
1
5
Read the following statements carefully:
Statement 1 - Net investment is a stock concept.
Statement 2 - Capital is a flow concept.
In the light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
OR
Read the following figure carefully and choose the correct pair from the alternatives given
below:
Alternatives:
a) Output, Production
b) Value added, Production
c) Output, Disposition
d) Wealth, Development
1
1
6 If in an economy, the value of investment multiplier is 4 and Autonomous Consumption is
? 30 Crore, the relevant consumption function would be :
3
a) C=30+0.75 Y b) C=(-)30+0.25Y
c) C=30-0.75Y d) C=30-0.25Y
OR
If increase in National Income is equal to increase in consumption, identity the value of
Marginal Propensity to Save :
a) Equal to unity b) Greater than one
c) Less than one d) Equal to zero
1
1
7 Money supply in India may increase if, ________________(Choose the correct alternative)
1. Reserve Bank of India(RBI) injects more money in circulation
2. the commercial banks expand their credit operation
3. tax rates are reduced by the Central Government
4. Reserve Bank of India increases the Bank Rate
Alternatives:
a) 1,2 and 3 are correct
b) 2,3 and 4 are correct
c) 1,3 and 4 are correct
d) 1,2 and 4 are correct
1
8 Suppose, following data is presented, for an imaginary economy: (all figures in ? ‘000 Crore)
Year Visible Exports Visible Imports
2010 280 240
2020 580 460
Identify, which of the statement about the period 2010 to 2020 is correct?
a) Improvement in balance of trade
b) Increase in trade deficit
c) Improvement in balance in invisibles items
d) Deterioration of balance of trade
OR
The following information is given for an imaginary country:
Current Account Amount (in ?’000
Crore)
Visible Exports 100
Visible Imports 150
Invisible Exports 70
Invisible Imports 30
Net current transfer balance 15
1
4
Balance on current account will be ____________ of ? ______ thousand Crore.
a) deficit, 10
b) surplus,5
c) deficit, 5
d) surplus, 10
1
9 Read the following statement -Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Ex-post Investments represent planned Investments; whereas ex-ante
Investments represent actual level of investments.
Reason (R): At equilibrium level, Ex-ante Savings and Ex-ante Investments are always
equal.
Alternatives:
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct
explanation of Assertion (A).
c) Assertion (A) is true but Reason (R) is false.
d) Assertion (A) is false but Reason (R) is true.
1
10 Read the following statement -Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Saving curve makes a negative intercept on the vertical axis at zero level of
income.
Reason (R): Saving function refers to the functional relationship between saving and income.
Alternatives:
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct
explanation of Assertion (A).
c) Assertion (A) is true but Reason (R) is false.
d) Assertion (A) is false but Reason (R) is true.
1
11 Suppose in a hypothetical economy there are only two Firms A and B, Firm A sold goods
for ? 2,000 to Firm B and purchased goods for ? 1,000. Firm B exported goods for ? 2,500
and had domestic sales of ? 1,500. Calculate Net Domestic Product at market price, if
consumption of fixed capital is ? 200.
3
12 Explain, how exchange rate is determined under a free market exchange rate system.
OR
Distinguish between autonomous and accommodating transactions in Balance of Payments
Accounts.
3
3
5
13 If an economy plans to increase its income by ? 2,000 crore and the Marginal Propensity to
Consume is 75%. Estimate the increase in investment required to achieve the targeted
increase in income.
4
14 As per the following news published in The Economic Times on 26
th
December, 2021:
‘Reserve Bank of India has sold government securities worth ? 8,710 crore in the secondary
market, over the last four weeks, to drain out excessive liquidity’.
Identify the likely cause and the consequences behind, this type of action plan of the Reserve
Bank.
4
15 Read the following text carefully, discuss briefly the relevant function of the Central Bank,
indicated :
Recently, Reserve Bank of India (RBI) conducted a statutory inspection for supervisory
evaluation against a Commercial Bank. The commercial bank was imposed with stringent
penalties, owing to deficiencies in regulatory compliances.
As per the Central Bank, the inspection revealed non-compliances vis-à-vis different
directions issued by RBI, on the following fronts:
i. ATM Card frauds
ii. Ensuring integrity and quality of data
iii. Loans to small borrowers (adapted/moderated -livemint.com)
OR
‘Reserve Ratio and Credit Creation are inversely related.’ Do you agree with the given
statement? Justify your answer with a suitable numerical example.
4
4
16 a) Define Gross Domestic Product (GDP) deflator and discuss its importance.
b) State and discuss any two precautions to be considered while estimating national
income by Expenditure Method.
3
3
17 a) Compare the trends depicted in the figures given below:
b) Elaborate the objective of ‘allocation of resources’ in the Government budget.
OR
a) Distinguish between revenue receipts and capital receipts of the government, with
suitable examples.
b) Distinguish between direct and indirect taxes, with suitable examples.
3
3
3
3
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FAQs on Class 12 Economics Official Sample Question Paper (2022-23) - Economics Class 12 - Commerce
| 1. How does inflation impact the economy? |  |
Ans. Inflation can have various impacts on the economy, including reducing the purchasing power of consumers, leading to a decrease in real wages, increasing the cost of borrowing, and affecting the profitability of businesses.
| 2. What are the different types of inflation? | |
Ans. The different types of inflation include demand-pull inflation, cost-push inflation, built-in inflation, hyperinflation, and stagflation. Each type of inflation is caused by different factors and has varying effects on the economy.
| 3. How does the government measure inflation? | |
Ans. The government typically measures inflation using various price indices, such as the Consumer Price Index (CPI) and the Wholesale Price Index (WPI). These indices track changes in the prices of goods and services over time to calculate the inflation rate.
| 4. How can individuals protect themselves from the negative effects of inflation? | |
Ans. Individuals can protect themselves from the negative effects of inflation by investing in assets that typically outpace inflation, such as stocks, real estate, and commodities. They can also consider adjusting their spending habits and saving more to counteract the impact of inflation on their purchasing power.
| 5. What role does the central bank play in controlling inflation? | |
Ans. The central bank plays a crucial role in controlling inflation by using monetary policy tools, such as adjusting interest rates and open market operations, to manage the money supply in the economy. By controlling the money supply, the central bank can influence inflation rates and stabilize the economy.
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Class 12 Economics Official Sample Question Paper (2022-23) Notes
Class 12 Economics Official Sample Question Paper (2022-23) Notes offer in-depth insights into the specific topic to help you master it with ease.
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Class 12 Economics Official Sample Question Paper (2022-23) Commerce Questions
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The content of Class 12 Economics Official Sample Question Paper (2022-23) is prepared as per the latest Commerce syllabus.
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