List of top Economics Questions asked in Maharashtra Class XII

Give economic terms: (i) A desire which is backed by willingness to purchase and ability to pay.
(ii) Deposits that are withdrawable on demand.
(iii) Wear and tear of capital assets, due to their use in the process of production.
(iv) Elasticity resulting from a proportionate percentage change in the quantity demanded due to a proportionate percentage change in price.
(v) The difference between the value of a country’s exports and imports for a given period.

Distinguish between Internal debt and External debt.

Observe the given table and answer the questions below. \[\begin{array}{|c|c|c|c|c|} \hline \text{Price per kg in ₹} & \text{Consumer A} & \text{Consumer B} & \text{Consumer C} & \text{Market Demand (in Kg)} \\ \hline 35 & 5 & 10 & 15 & \boxed{} \\ \hline 30 & 10 & 15 & 20 & \boxed{} \\ \hline 25 & 15 & 20 & 25 & \boxed{} \\ \hline 20 & 20 & 25 & 30 & \boxed{} \\ \hline \end{array} \]
(a) Complete Market Demand Schedule.
(b) Draw Market Demand Curve Based on the Above Market Demand Schedule.

Find the odd word:

Observe the following diagram of the non-linear demand curve and answer the questions given below.

(1) If \( EB = EA \) (\( Ed = 1 \)) = ....… (1)
(2) If \( EB > EA \) (\( Ed > 1 \)) = ....... (1)
(3) If \( EB < EA \) (\( Ed < 1 \)) = ....... (1)
(4) The 'x' axis represents ........ of commodity and 'y' axis represents ........ of commodity. (1)

Regulated Market

Regulated market is a wholesale market where buying and selling are regulated and controlled by the state government through the market committee.
Regulated market aims at the elimination of unhealthy and unscrupulous practices regarding charges and providing facilities to producers and sellers in the market. The poor standards of primary and secondary markets in agricultural market are cash transactions, short weights, excessive market charges, unauthorized deduction, and the absence of machinery to settle disputes between sellers and buyers. These defects and malpractices can be recovered by the establishment of Regulated market. According to the Bombay Agricultural Product Market Act-1939, this market is controlled. In this market mainly the trade of cereals, fruits, tobacco, cotton, groundnut, coconut, betel nut, potatoes and turmeric, etc. are controlled.
Questions:
(1) Which act regulates the market? (1)
(2) What are the poor standards in primary and secondary markets? (1)
(3) Give your opinion with reference to the above passage. (1)

Calculate price index number from the following data:

\[ \begin{array}{|c|c|c|c|c|} \hline \text{Commodity} & A & B & C & D \\ \hline \text{Price in 2005 (₹)} & 6 & 16 & 24 & 4 \\ \hline \text{Price in 2010 (₹)} & 8 & 18 & 28 & 6 \\ \hline \end{array} \]

Capital market plays a very important role in the Indian economy.

State and explain the law of diminishing marginal utility with its assumptions.

There are some exceptions to the law of supply.

State the meaning of National Income and explain the features of National Income.

Elasticity of demand depends upon several factors.

Explain any four points of the role of foreign trade in India.

Demand Curve slopes downward from the left to the right.

There are no limitations to the Index numbers.

Explain the functions of Commercial Banks.

Explain the classification of market on the basis of time.

Explain any four features of micro economics.

Distinguish between Micro Economics and Macro Economics.