List of top Questions asked in CBSE CLASS XII

The situation under which an economy attains economic growth without corresponding rise in employment is known as ____. (Fill up the blank with correct option)

The given chart indicates the problem of ____ in the Indian Economy, post 1990-92. (Choose the correct option to fill up the blank)

Agricultural marketing is a process that involves the ____ of agricultural commodities. (Choose the correct option to fill up the blank)
Read the following statements: Assertion (A) and Reason (R). Choose one of the correct options given below:
Assertion (A): Under the land reforms, Indian government fixed the minimum land size which could be owned by an individual.
Reason (R): The purpose of land ceiling was to avoid the concentration of land ownership in a few hands.
Identify, the options that emphasize the role of information and technology.
(i) Achieving sustainable development
(ii) Attainment of food security
(iii) Disseminates information regarding emerging technologies.
____ are the people who operate their own farms / enterprises. (Choose the correct option to fill up the blank)
In recent years, all the adults are encouraged to open bank accounts as part of a scheme known as ____. (Choose the correct option to fill up the blank)
____ is based on the idea that education and health are integral to human well-being. (Choose the correct option to fill up the blank)
Read the following statements carefully: Statement 1: In 1978, commune lands were divided into small plots to the individual households for cultivation. Statement 2: Under commune system, professionals were sent to work and learn from the countryside. In the light of the given statements, choose the correct option from the following:
Gauhar has recently completed her fashion designing studies and started a boutique. To produce dresses for sale, she purchased various materials, including a sewing machine, fabric, buttons, and thread. These items are essential for producing the dresses. Classify the material purchased by Gauhar as Final or Intermediate goods, giving valid reasons in support of the classifications.
Differentiate between Real flow and Money flow.
Read the following text carefully:
Balance of Payments (BoP) systematically summarises the economic transactions of an economy with the rest of the world, over a given period of time. The BoP can be broadly divided into two accounts namely:
  • Current account
  • Capital account
The current account measures the transfer of goods, services, income and transfers between an economy and the rest of the world. The current account may be sub-divided into merchandise account and invisible account. Merchandise account consists of transactions related to export and import of goods. In the invisible account, there are three broad categories:
  • Non-factor services such as travel, transportation, insurance etc.
  • Transfer which do not involve any value in exchange.
  • Income which includes compensation of employees and investment income.
The capital account reflects the net changes in financial claims on rest of the world. The capital account can be broadly broken up into two categories:
  • Non-debt flows such as direct and portfolio investments.
  • Debt flows such as external assistance, commercial borrowings, non-resident deposits etc.
The sum of the two accounts indicates the overall balance, which could be either in surplus or deficit. The movement in overall balance is reflected in changes in international reserves of the country. Source: \url{https://mopsi.gov.in/109-balance-payments} (adopted and modified) % Question subparts On the basis of the given text and common understanding, answer the following questions:
  • (a) Define Balance of Payments.
  • (b) Differentiate between the two accounts of Balance of Payments.
  • (c) Give the meaning of Balance of Payments deficit with formula.
____ of agriculture refers to production of crops for sale in the open market rather than for self consumption purpose.
"National Income is always equal to Domestic income in a two-sector economy." Defend or refute the given statement with valid reasons.
Justify the following statements with valid arguments:
(i) Money supply in an economy is an example of a stock variable.
(ii) The Central Bank provides several Banking services to the government.
Suppose for an economy, the government proposes a project for the construction of expressways with an incremental investment of ₹1,200 crore. Assuming 80% of the increase in income is spent on consumption. Estimate the following on the basis of the above information:
  • Change in income (\(\Delta Y\))
  • Change in consumption (\(\Delta C\))

"On the basis of the given image, explain the steps which may be taken by the Government of India to control the indicated macroeconomic issue."

"Define 'Open Market Operations'."
Two friends Ramesh (a software engineer) and Pihu (a bakery owner) are discussing their contribution to the nation's economy through tax payments. Ramesh earns 8,00,000 per year, which makes him liable to pay income tax. Pihu pays Goods and Service Tax (GST) on the sale of cakes and pastries. On the basis of the given text, identify whether Ramesh is paying a direct tax or an indirect tax. Explain valid differences between the two types of taxes.
"The government generally levies higher Goods and Services Tax (GST) on socially undesirable products like cigarettes, tobacco, liquor etc." Identify and explain the indicated government budget objective in the above statement.
Assuming for a hypothetical economy, the Central Bank increases the Reserve Ratio from 20% to 25% and the total primary deposits stand at ₹1,000. Explain the effect of rise in Reserve Ratio on credit creation by commercial banks.
To arrive at the value of equilibrium level of income, there must exist an equality between ex-ante ....... and ex-ante .......
As the Banker to the Bank, Reserve Bank of India performs all functions except ........
State the meaning and significance of Gross Domestic Product (GDP) deflator.
The budget under which the government may spend an amount equal to the revenue it collects is referred to as a ...... Budget.