List of top Questions asked in CBSE CLASS XII

Distinguish between Real Gross Domestic Product and Nominal Gross Domestic Product using a numerical example.

State the meaning and any two components of Gross Domestic Capital formation.

“US administration has recently imposed tariff to the magnitude of 50%.”

In the light of given statement, explain the likely impact of this step on the exports of India.

Using suitable examples, distinguish between Revenue Receipts and Capital Receipts.

“It is not the nature of a good, rather the economic nature of its use, which determines whether it is a final good or not.”

Justify the given statement with valid arguments.

Distinguish between Revenue Expenditure and Capital Expenditure with the help of suitable examples.

Read the following statements carefully :

Statement I : At the break-even level of income, the value of slope of the consumption curve is zero.

Statement II : Marginal Propensity to Consume (MPC) refers to the change in consumption per unit change in income.

In the light of the given statements, choose the correct option from the following :

Select the correct formula to calculate the value of Marginal Propensity to Save (MPS) :

I. Change in Savings (ΔS) / Change in Consumption (ΔC)

II. Change in Savings (ΔS) / Change in Income (ΔY)

III. 1 – Marginal Propensity to Consume (MPC)

IV. Change in Income (ΔY) / Change in Savings (ΔS)

“Consumption of a good by a person does not reduce the amount available for consumption by others. Consumers consuming such goods are known as free-riders.”

Identify the type of goods indicated in the above text.

Suppose in a hypothetical economy, Y = 50 + 0.8Y + 100, where Y = National Income.

The value of Investment Multiplier (K) would be __________.

(Choose the correct option to fill in the blank)

Under the fixed exchange rate system, if the government decreases the value of domestic currency with respect to a foreign currency, it is known as __________ of currency.

(Choose the correct option to fill in the blank)

Read the following statements carefully :

Statement I : Trade in services includes both factor income and non-factor income transactions.

Statement II : Current Account includes transactions related to goods, services and unilateral transfers.

In the light of the given statements, choose the correct option from the following :

Identify, the factor which influences the demand for foreign exchange in a country.

(Choose the correct option)

On the basis of the given table, estimate the value added by the Baker.

(Amount in ₹ crore)

(Choose the correct option)

Read the following statements : Assertion (A) and Reason (R). Choose the correct option from those given below :

Assertion (A) : Borrowing requirements of the government include interest obligations on debt as well.

Reason (R) : The goal of measuring primary deficit is to correct the prevailing fiscal imbalances.

Identify the variable(s) which may add to the future productive capacity of an economy :

I. Raw material

II. Fixed investment

III. Inventories with producers

(Choose the correct option)

State the meaning of Special Economic Zone (SEZ).

Complete the following table :

“An economy facing unplanned accumulation of inventories would try to increase its Aggregate Demand.” Defend or refute the given statement with valid arguments.

Estimate the value of subsistence level of consumption expenditure from the following data, about an economy which is in equilibrium :

(i) National Income (Y) = ₹ 1,500 crore

(ii) Marginal Propensity to Consume (MPC) = 0.8

(iii) Investment Expenditure (Ī) = ₹ 150 crore

Describe how Pakistan has formulated and implemented its early developmental strategies to foster economic growth.

Read the following text carefully and answer the questions given below :

“This organisation replaced General Agreement on Trade and Tariff (GATT) as global trade organisation.”

Explain any two objective of the new organisation.

Discuss the ‘One Child Policy’ adopted by China.

Read the following text carefully and answer the questions given below :

“This organisation replaced General Agreement on Trade and Tariff (GATT) as global trade organisation.”

In which year was this new organisation established ?

Read the following text carefully and answer the questions given below :

“This organisation replaced General Agreement on Trade and Tariff (GATT) as global trade organisation.”

Identify the organisation which is known as the successor of GATT.