Kerala Plus Two Question Paper 2023 Economics
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Kerala Plus Two Question Paper 2023 Economics is available here for free download. Published by Kerala Board for Class 12, this question paper can be viewed online or downloaded as a PDF (13 pages). Candidates preparing for Class 12 can use Kerala Plus Two Question Paper 2023 Economics to understand the exam pattern, the type of questions asked, and the overall difficulty level.
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Kerala Plus Two Question Paper 2023 Economics – Text
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Page 1
SECOND YEAR
Kerala Board
Question Paper
2023
Download PDF
Kerala Board
Question Paper
2023
Download PDF
Page 2
Reg. No. : ......................................
Name : ...........................................
SY-535
SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH 2023
Part – III Time : 2½ Hours
ECONOMICS Cool-off time : 15 Minutes
Maximum : 80 Scores
General Instructions to Candidates :
There is a ‘Cool-off time’ of 15 minutes in addition to the writing time.
Use the ‘Cool-off time’ to get familiar with questions and to plan your answers.
Read questions carefully before answering.
Read the instructions carefully.
Calculations, figures and graphs should be shown in the answer sheet itself.
Malayalam version of the questions is also provided.
Give equations wherever necessary.
Electronic devices except non-programmable calculators are not allowed in the
Examination Hall.
15 ‘ ’ .
‘ ’
.
.
.
, , ,
.
.
.
.
1 P.T.O.
Name : ...........................................
SY-535
SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH 2023
Part – III Time : 2½ Hours
ECONOMICS Cool-off time : 15 Minutes
Maximum : 80 Scores
General Instructions to Candidates :
There is a ‘Cool-off time’ of 15 minutes in addition to the writing time.
Use the ‘Cool-off time’ to get familiar with questions and to plan your answers.
Read questions carefully before answering.
Read the instructions carefully.
Calculations, figures and graphs should be shown in the answer sheet itself.
Malayalam version of the questions is also provided.
Give equations wherever necessary.
Electronic devices except non-programmable calculators are not allowed in the
Examination Hall.
15 ‘ ’ .
‘ ’
.
.
.
, , ,
.
.
.
.
1 P.T.O.
Page 3
Answer any 8 questions from 1 to 10. Each carries 1 score. (8 1 = 8)
1. A good that is non-rival and non-excludable is
(a) Public goods (b) Inferior good
(c) Private goods (d) Capital goods
2. The value of Marginal Propensity to Consume (MPC) lies between
(a) 0 and 100 (b) 0 and 1
(c) –1 and +1 (d) 0 and infinity
3. ‘For whom to produce’ is the problem related to
(a) Technology of production
(b) Selection of Goods and Services
(c) Distribution of National Income
(d) Price Determination
4. The short run shut-down point of a firm in a perfect competitive market is :
(a) Price = Average Cost
(b) Price = Total Cost
(c) Price = Total Variable Cost
(d) Price = Average Variable Cost
5. The institution that regulates the money supply in India :
(a) NABARD (b) RBI
(c) WTO (d) SEBI
6. If consumer’s income increases, the demand for inferior goods
(a) Increase (b) Constant
(c) Decrease (d) None of these
SY-535 2
1. A good that is non-rival and non-excludable is
(a) Public goods (b) Inferior good
(c) Private goods (d) Capital goods
2. The value of Marginal Propensity to Consume (MPC) lies between
(a) 0 and 100 (b) 0 and 1
(c) –1 and +1 (d) 0 and infinity
3. ‘For whom to produce’ is the problem related to
(a) Technology of production
(b) Selection of Goods and Services
(c) Distribution of National Income
(d) Price Determination
4. The short run shut-down point of a firm in a perfect competitive market is :
(a) Price = Average Cost
(b) Price = Total Cost
(c) Price = Total Variable Cost
(d) Price = Average Variable Cost
5. The institution that regulates the money supply in India :
(a) NABARD (b) RBI
(c) WTO (d) SEBI
6. If consumer’s income increases, the demand for inferior goods
(a) Increase (b) Constant
(c) Decrease (d) None of these
SY-535 2
Page 4
1 10 8 .
1 . (8 1 = 8)
1.
(a) (b)
(c) (d)
2. (MPC)
(a) 0 100 (b) 0 1
(c) –1 +1 (d) 0
3.
(a)
(b)
(c)
(d)
4.
(a) =
(b) =
(c) =
(d) =
5.
(a) NABARD (b) RBI
(c) WTO (d) SEBI
6.
(a) (b)
(c) (d)
SY-535 3 P.T.O.
1 . (8 1 = 8)
1.
(a) (b)
(c) (d)
2. (MPC)
(a) 0 100 (b) 0 1
(c) –1 +1 (d) 0
3.
(a)
(b)
(c)
(d)
4.
(a) =
(b) =
(c) =
(d) =
5.
(a) NABARD (b) RBI
(c) WTO (d) SEBI
6.
(a) (b)
(c) (d)
SY-535 3 P.T.O.
Page 5
7. The ratio of Nominal GDP to real GDP is
(a) Consumer Price Index (b) Wholesale Price Index
(c) Producer Price Index (d) GDP Deflator
8. If export of goods is more than import of goods, then Balance of trade will be :
(a) Surplus (b) Deficit
(c) Balance (d) Zero
9. The U shape of Long run Average Cost (LRAC) curve is due to
(a) Law of Variable Proportion
(b) Law of Returns to Scale
(c) Law of Demand
(d) Law of Diminishing Marginal Utility
10. When output is zero, Total Variable Cost (TVC) will be :
(a) Increasing (b) Decreasing
(c) Zero (d) One
Answer any 4 questions from 11 to 15. Each caries 2 scores. (4 2 = 8)
11. What is intermediate goods ? Give one example.
12. If the Cash Reserve Ratio (CRR) of an economy is 25%, find the value of money
multiplier.
13. Write down any two features of Indifference curve.
14. The market demand curve and the market supply curve for wheat are given below :
QD = 50 – 2P
QS = 10 + 2P
Find the equilibrium price and quantity.
15. Write down any two objectives of government budget.
SY-535 4
(a) Consumer Price Index (b) Wholesale Price Index
(c) Producer Price Index (d) GDP Deflator
8. If export of goods is more than import of goods, then Balance of trade will be :
(a) Surplus (b) Deficit
(c) Balance (d) Zero
9. The U shape of Long run Average Cost (LRAC) curve is due to
(a) Law of Variable Proportion
(b) Law of Returns to Scale
(c) Law of Demand
(d) Law of Diminishing Marginal Utility
10. When output is zero, Total Variable Cost (TVC) will be :
(a) Increasing (b) Decreasing
(c) Zero (d) One
Answer any 4 questions from 11 to 15. Each caries 2 scores. (4 2 = 8)
11. What is intermediate goods ? Give one example.
12. If the Cash Reserve Ratio (CRR) of an economy is 25%, find the value of money
multiplier.
13. Write down any two features of Indifference curve.
14. The market demand curve and the market supply curve for wheat are given below :
QD = 50 – 2P
QS = 10 + 2P
Find the equilibrium price and quantity.
15. Write down any two objectives of government budget.
SY-535 4
Page 6
7.
(a) (b)
(c) (d) ...
8. ,
.
(a) (b)
(c) (d)
9. (LRAC) U
(a)
(b)
(c)
(d)
10. (TVC)
(a) (b)
(c) (d)
11 15 4 .
2 . (4 2 = 8)
11. ? .
12. (CRR) 25%
.
13. .
14.
.
QD = 50 – 2P
QS = 10 + 2P
.
15. .
SY-535 5 P.T.O.
(a) (b)
(c) (d) ...
8. ,
.
(a) (b)
(c) (d)
9. (LRAC) U
(a)
(b)
(c)
(d)
10. (TVC)
(a) (b)
(c) (d)
11 15 4 .
2 . (4 2 = 8)
11. ? .
12. (CRR) 25%
.
13. .
14.
.
QD = 50 – 2P
QS = 10 + 2P
.
15. .
SY-535 5 P.T.O.
Page 7
Answer any 4 questions from 16 to 20. Each carries 3 scores. (4 3 = 12)
16. Write down the three stages of returns to scale.
17. List out any three features of perfect competitive market.
18. Jomon wants to buy rice and wheat with the money income of ` 120. Its market prices
are ` 15 and ` 20 respectively. Find the horizontal intercept, vertical intercept and slope
of the budget line.
19. Write down the three limitations of Gross Domestic Product (GDP) as an indicator of
welfare.
20. List out the three ways in which an economy makes economic relations with other
economies.
Answer any 4 questions from 21 to 25. Each carries 4 scores. (4 4 = 16)
21. Explain the circular flow of income in a two-sector economy with the help of a
diagram.
22. Write a short note on the emergence of macro economics.
23. Write a short note on flexible exchange rate with the help of diagram.
24. Explain price ceiling with the help of a diagram.
25. Difference between Market economy and Centrally planned economy.
SY-535 6
16. Write down the three stages of returns to scale.
17. List out any three features of perfect competitive market.
18. Jomon wants to buy rice and wheat with the money income of ` 120. Its market prices
are ` 15 and ` 20 respectively. Find the horizontal intercept, vertical intercept and slope
of the budget line.
19. Write down the three limitations of Gross Domestic Product (GDP) as an indicator of
welfare.
20. List out the three ways in which an economy makes economic relations with other
economies.
Answer any 4 questions from 21 to 25. Each carries 4 scores. (4 4 = 16)
21. Explain the circular flow of income in a two-sector economy with the help of a
diagram.
22. Write a short note on the emergence of macro economics.
23. Write a short note on flexible exchange rate with the help of diagram.
24. Explain price ceiling with the help of a diagram.
25. Difference between Market economy and Centrally planned economy.
SY-535 6
Page 8
16 20 4 .
3 . (4 3 = 12)
16. .
17. .
18. 120
. 15 20
. ,
, .
19. (GDP)
.
20.
.
21 25 4 .
4 . (4 4 = 16)
21.
.
22. .
23.
.
24. .
25.
.
SY-535 7 P.T.O.
3 . (4 3 = 12)
16. .
17. .
18. 120
. 15 20
. ,
, .
19. (GDP)
.
20.
.
21 25 4 .
4 . (4 4 = 16)
21.
.
22. .
23.
.
24. .
25.
.
SY-535 7 P.T.O.
Page 9
Answer any 4 question from 26 to 30. Each carries 5 scores. (4 5 = 20)
26. Explain the optimal choice of a consumer (consumer’s equilibrium) with the help of a
diagram.
27. Complete the following flow chart :
28. Explain the short run equilibrium conditions for profit maximization of firms under
perfect competitive market with the help of diagram.
29. (a) What do you mean by the price elasticity of demand ?
(b) The price of potato falls from ` 100 to ` 75. As a result of which demand rises
from 10 kg to 15 kg. Calculate the price elasticity of demand.
(c) Based on the above information, comment on the nature of the elasticity of
demand.
30. (a) Differentiate between Marginal Propensity to Consume (MPC) and Marginal
Propensity to Save (MPS).
(b) In a two sector economy, Marginal Propensity to Consume (MPC) is 0.6. Find the
investment multiplier.
SY-535 8
26. Explain the optimal choice of a consumer (consumer’s equilibrium) with the help of a
diagram.
27. Complete the following flow chart :
28. Explain the short run equilibrium conditions for profit maximization of firms under
perfect competitive market with the help of diagram.
29. (a) What do you mean by the price elasticity of demand ?
(b) The price of potato falls from ` 100 to ` 75. As a result of which demand rises
from 10 kg to 15 kg. Calculate the price elasticity of demand.
(c) Based on the above information, comment on the nature of the elasticity of
demand.
30. (a) Differentiate between Marginal Propensity to Consume (MPC) and Marginal
Propensity to Save (MPS).
(b) In a two sector economy, Marginal Propensity to Consume (MPC) is 0.6. Find the
investment multiplier.
SY-535 8
Page 10
26 30 4 .
5 . (4 5 = 20)
26.
( ) .
27. :
28.
.
29. (a)
?
(b) 100 75
10 . 15 . .
.
(c)
.
30. (a) (MPC) (MPS)
.
(b) (MPC) 0.6
.
SY-535 9 P.T.O.
5 . (4 5 = 20)
26.
( ) .
27. :
28.
.
29. (a)
?
(b) 100 75
10 . 15 . .
.
(c)
.
30. (a) (MPC) (MPS)
.
(b) (MPC) 0.6
.
SY-535 9 P.T.O.
Page 11
Answer any 2 questions from 31 to 33. Each carries 8 scores. (2 8 = 16)
31. Explain the three methods of measuring GDP .
32. Describe the monetary policy instruments of RBI.
33. (a) Calculate Total Variable Cost (TVC), Average Cost (AC), Average Fixed Cost
(AFC), Average Variable Cost (AVC) and Short run Marginal Cost (SMC) :
Output Total Total Total Average Average Average Short run
(Q) Fixed Variable Cost Cost Fixed Variable Marginal
Cost Cost (TC) (AC) Cost Cost Cost
(TFC) (TVC) (AFC) (AVC) (SMC)
0 70 70
1 70 100
2 70 110
3 70 115
4 70 125
5 70 145
6 70 180
7 70 250
(b) Draw Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) in
a single diagram by using the above data.
____________
SY-535 10
31. Explain the three methods of measuring GDP .
32. Describe the monetary policy instruments of RBI.
33. (a) Calculate Total Variable Cost (TVC), Average Cost (AC), Average Fixed Cost
(AFC), Average Variable Cost (AVC) and Short run Marginal Cost (SMC) :
Output Total Total Total Average Average Average Short run
(Q) Fixed Variable Cost Cost Fixed Variable Marginal
Cost Cost (TC) (AC) Cost Cost Cost
(TFC) (TVC) (AFC) (AVC) (SMC)
0 70 70
1 70 100
2 70 110
3 70 115
4 70 125
5 70 145
6 70 180
7 70 250
(b) Draw Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) in
a single diagram by using the above data.
____________
SY-535 10
Page 12
31 33 2 .
8 . (2 8 = 16)
31. GDP .
32. RBI .
33. (a) (TVC),
(AC),
(AFC),
(AVC)
(SMC)
.
(Q)
(TC) (AC)
(TFC) (TVC) (AFC) (AVC) (SMC)
0 70 70
1 70 100
2 70 110
3 70 115
4 70 125
5 70 145
6 70 180
7 70 250
(b) (TC),
(TFC), (TVC)
.
____________
SY-535 11 P.T.O.
8 . (2 8 = 16)
31. GDP .
32. RBI .
33. (a) (TVC),
(AC),
(AFC),
(AVC)
(SMC)
.
(Q)
(TC) (AC)
(TFC) (TVC) (AFC) (AVC) (SMC)
0 70 70
1 70 100
2 70 110
3 70 115
4 70 125
5 70 145
6 70 180
7 70 250
(b) (TC),
(TFC), (TVC)
.
____________
SY-535 11 P.T.O.
Page 13
SY-535 12
Document Details
| Board / Org | Kerala Board |
| Exam | Class 12 |
| Type | Question Paper |
| Pages | 13 |
| Updated | 30 Apr 2026 |