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ISC Class XII Economics previous years question papers

Sample Paper Class – XII
Subject – Economics
(i) Answer all question in Part I and five questions from Part II.
(ii). All working including rough work should be done on the same sheet as, and adjacent to the rest of the answer.
(iii). The intended marks for questions or parts of questions are given in brackets []. (Material to be supplied: Log tables including Trigonometric functions)
(iv). Candidates are allowed additional 15 minutes for only reading the paper. They must NOT start writing during this time..

Q1. What is meant by Balance of Current Account?
Q2.(i) Briefly explain how fiscal policy can be used to achieve any two macro goals of the government.
(ii) Based on the given information state whether total expenditure will increase or decrease:
(a) Pricex increases and x has elastic demand.
(b) Price Y,decreases andy has Y inelastic demand.
(iii) What is the significance of :
(a) an indifference curve being convex to the origin?
(b) the point of inflexion on the total product curve?
Q3.a). What is the diffrence between Quotas ans Tariffs ? Under what circumstances are they implemented by the Government?
b)How does fiscal policy help in attaining external equilibrium ans price stability?
Q4. When does marginal utility become negative?
Q5. Distinguish between:
(a) autonomous and accommodating flows.
(b) gross and net profits.

Q6.
Briefly explain the following:
(a)composite demand
(b) SDRs
(c) forfeiture
(d) Ad Valorem taxes

Q7. a) Explain briefly the output method of measurement of national income.
b). What is the basis of international trade according to the theory of comparative cost advantage?
Q8. Define transfer earning?
Q9. State Wagner’s Law?
Q10.(a) What is 'equilibrium price'? Explain how it is determined in a market economy.
(b) State the Law of Diminishing Marginal Utility. How does this law help explain consumer behavior theory in micro economics?
(c) With referenceto the Law of Variable Proportions explain in which stage of production a rational producer would operate.
Q11.What explanation did Marshall provide for the surplus earned by factors whose supply is
Inelastic in the short run?

Q12. Give two exceptions to the law of demand.
Q13. Explain the basis of international trade with reference to the comparative cost theory
Using production possibility curves.
b) Enumerate any three advantage and any three disadvantages of international trade.
c) Explain how the government can rectify an adverse balance of payments situation arising due to a deficit.
Q14. What is the difference between revenue budget andcapital budget.

Economics ( I.C.S.E)
(Two Hours)
- Answers to this paper must be written on the paper provided separately.
- You will NOT be allowed to write during the first 15 minutes.
- Duration of the exam is 2 hours.
- This time given at the head of this paper is the time allowed for writing the answers.
- Attempt all questions from Section A and four question from Section B.
- The intended marks for questions or parts of questions are given. in brackets [ ].

SECTION -A
Attempt all questions.
(Answers should be brief and to the point).
Q 1 (a) What are the chief methods of lending available to commercial banks?
Q 1 (b) Give two characteristics of the Green Revolution.
Q 1 (c) Define the role of capital in production.
Q 1 (d) Mention two features of a mixed economy.

Q 2 (a) Distinguish between Simple and Complex Division of Labour.
Q 2 (b) Explain how division of labour is limited by the extent of the market.
Q 2 (c) How does rapid growth of population aggravate the food problem ?
Q 2 (d) Mention two causes for the low productivity of Indian agriculture.

Q 3 (a) State the factors which determine the creation of savings in a country.
Q 3 (b) Mention two factors which determine the supply of labour in a country.
Q 3 (c) State any two drawbacks of State enterprises.
Q 3 (d) Give two features of sole proprietorship.

Q 4 (a) Differentiate between Sunk Capital and Floating Capital.
Q 4 (b) Give two factors that show the importance of agriculture for industrial development.
Q 4 (c) Mention two advantages of a bank account.
Q 4 (d) Examine any two major problems of the Jute Industry in India.

SECTION - B
Answer any four questions from this Section.
Q 5 (a) What is the meaning of "land" in economic terms ? Discuss any four peculiarities of land as a factor of production.
Q 5(b) Discuss the importance of Small Scale Industries and Cottage Industries in the Indian economy.

Q 6 (a) Explain briefly the meaning of efficiency of labor and state four factors which determine the efficiency of labor.
Q 6 (b) What is meant by "agriculture labor" ? Give four reasons for the rapid growth of agricultural labor in India.

Q 7 (a) Describe the quantitative method of credit control adopted by the central bank to control credit.
Q 7 (b) What are the co-operative societies? Explain the three different ways in which is co-operative are organized in India.

Q 8 (a) How is a Joint Stock Company formed ? In what four respects does a Joint Stock Company differ from a Partnership?
Q 8 (b) Discuss two objectives of land reform and give a brief account of tenancy reforms in India.
Q 9 (a) What is meant by subdivision and fragmentation of holdings ? Describe any four causes for the subdivision and fragmentation of land holdings .
Q 9 (b) Examine any four reasons for the importance of good transport in a growing in economy like that of India .

Q 10 (a) What is Economic Planning ? Explain the reasons for the three Annual Plans of 1966-'68, 1968-'69.
Q 10 (b) Discuss any four functions of the Government in economic development.

Q 11 (a) Discuss any four reasons to show that rapid industrialisation of our country is essential
Q 11 (b) What is fiscal policy ? How can fiscal policy be used for economic development .

Attached Files

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