MH 12th Question Paper June 2026 Economics

FOR MAHARASHTRA BOARD (MSBSHSE) CLASS 12 EXAM PREPARATION

Maharashtra Board
(MSBSHSE) Class 12
2026
June Session Question
Paper · Economics
EXAM YEAR

Maharashtra Board (MSBSHSE) Class 12 2026
TYPE SUBJECT

June Session Question Paper Economics

Notes · Sample Papers · Previous Year Papers · Mock Tests

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Page No. 1/6 Subject Code J-320 a
Seat No.

Page No. 1/6 Subject Code J-320 Seat No.

DATE : 01/07/2026 E
SUBJECT : ECONOMICS (49)
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Time : 11.00 - 2.00

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DURATION : 3 Hours. c s e
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Notes : (i) All questions are compulsory.
(ii)a Draw neat tables / diagrams wherever necessary.
(iii) Figures to the right indicate full marks.
(iv) Write answers to all main questions on new pages.

Q. 1. (A) Complete the following statements : (5) 20
(i) Ed = 0 in case of _______.
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(a) Luxury goods
c. o Normal goods
(b)
(c) Necessary goods
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a s to as _______.
(ii) Balance of trade is alsolreferred
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(a) National trade balance
(b) International trade balance
(c) Balance of payment
(d) Systematic record of all international economic
transactions
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(iii) The famous book “General Theory of Employment, Interest and
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m .co Money” was published by _______.
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s e (a) Prof. Alfred Marshall
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(b) David Ricardo

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a (c) Lord J.M. Keynes (d) Adam Smith
(iv) When a government borrows from its citizens, banks, central
bank, industries, etc. it is known as _______.
(a) Internal Debt (b) Personal Debt

(c) External Debt (d) International Debt

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Page No. 2/6 Subject Code J-320
(v) A period of time in which all factors of production and costs are
variable is known as _______.

(a) Very short period (b) Short period

(c) Long period (d) Very long period

(B) Complete the correlation : (5)

(i) : Teacher : : Form utility : Toys made of clay

(ii) Perfect competition : Large number of sellers : : : Few
sellers

(iii) Theoretical difficulty : Unpaid services : :
: Valuation of inventories

(iv) Pen and ink : : : Tea and coffee: Substitutes

(v) Trends in exports : Petroleum products : : : Gold

(C) Give economic terms : (5)

(i) A market for long term funds, both equity and debt raised within
and outside the country.

(ii) Demand for a commodity which can be put to several uses.

(iii) The total quantity of commodity available for sale with a seller at
a particular point of time.

(iv) Index number which is constructed with some specific purpose.

(v) Budget in which the estimated revenue and expenditure of the
government are equal.

(D) Find the odd word : (5)

(i) Scope of macro economics :
Theory of income and employment, Theory of product pricing,
Theory of general price level and inflation, Macro theory of
distribution

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Page No. 3/6 Subject Code J-320 a
Seat No.

(ii) Methods of measurement of national income :
Output method, Income method, Expenditure method, Ratio
method

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(iii) Reasons for downward sloping demand curve :

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Law of supply, Income effect, Substitution effect, New consumers
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. to the law of supply : s e
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(iv) Exceptions
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Agricultural goods, Perishable goods, Rare goods, Giffen’s
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(v) Types of utility :
Form utility, Total utility, Time utility, Place utility

Q. 2. (A) Identify and explain the following concepts from the given
illustrations (Any THREE) : (6) 12
(i)
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Arnav sells 80 dozens of mangoes daily at ` 500/- per dozen.
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. when the price of sugar rises
(ii) Demand for sugar falls by 10%
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by 10%.
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ag amount of ` 50,000 in the bank for a
(iii) Reena deposited a lumpsum
period of one year.
(iv) Shabana paid wages to workers in her factory and interest on her
bank loan.
(v) Vrinda receives monthly pension of ` 5000/- from the state
government.
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m(B) Distinguish between (Any THREE) : .co
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(6)

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(i) Direct Demand and Indirect Demand
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(ii) Laspeyre’s Price Index Number and Paasche’s
a Number
(iii) Direct Tax and Indirect Tax
(iv) Micro Economics and Macro Economics

(v) Total Cost and Total Revenue

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Page No. 4/6 Subject Code J-320
Q. 3. Answer the following (Any THREE) : 12

(i) Explain any four features of utility.

(ii) Explain any four roles of foreign trade.

(iii) Explain any four features of micro economics.

(iv) Explain any four factors influencing elasticity of demand.

(v) Explain any four types of monopoly.

Q. 4. State with reasons whether you agree or disagree with the 12
following statements (Any THREE) :

(i) There are many assumptions to the law of supply.

(ii) Product differentiation is the only feature of monopolistic competition.

(iii) Marginal utility and total utility are the same.

(iv) Index numbers have limitations.

(v) Public finance is different from private finance.

Q. 5. Study the following table, figure, passage and answer the 8
questions given below it (Any TWO) :

(i) Observe the following table and answer the questions given
below it : (4)
Quantity in 2000 Quantity in 2001
Commodities
Base Year (q0) Current Year (q1)

A 20 45

B 40 70

C 60 105

D 20 60

Total q0= q 1=

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Page No. 5/6 Subject Code J-320 a
Seat No.

Questions :
(a) Complete the above table. (1)
(b) Calculate the Quantity Index Number from the above table. (3)

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(ii) Observe the following diagram and answer the questions given
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below it :
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In the following diagram A E is the linear demand curve of a
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commodity. On the basis of the given diagram, state whether the ag
afollowing statements are true or false:

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Questions :
(1) Demand at point ‘C’ is relatively elastic demand. (1)
(2) Demand at point ‘B’ is unitary elastic demand. (1)
(3) Demand at point ‘D’ is perfectly inelastic. (1)

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(4) Demand at point ‘A’ is perfectly elastic demand. (1)

o m(iii) Read the following passage and answer the questions m.c
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(4)

ag The Finance Ministry has proposed a two slab GST structure
instead of multiple slabs. This reform will make the tax system simpler,
benefiting micro, small and medium enterprises and also making goods
cheaper for consumers. Apart from regular tax revenue, the central
government earns a large share through Cess and Surcharge.

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Page No. 6/6 Subject Code J-320
For the financial year 2025-26, the government expects ` 5.91 lakh
crore from Cess and Surcharge which is a 9.43% increase compared to
the previous year.

Recently, GST rates on several items were reduced. This gives relief
to consumers, increases the purchasing power and boosts demand in
the economy. However, such cuts reduce the government’s revenue.
According to officials, this loss can be managed through better tax
collection and other fiscal measures.
Today, India’s public finance system faces major challenges:
Revenue shortfall with increasing expenditure.
Need to reduce fiscal deficit while promoting investment.
To address this, the government must focus on tax reforms,
prioritizing expenditure and long term infrastructure and investment.

Questions :

(1) How much revenue does the government expect from

Cess and Surcharge in F.Y. 2025-26? (1)

(2) Mention the major challenges faced by India’s public
finance system today. (1)

(3) Express your opinion with reference to the given passage. (2)

Q. 6. Answer the following questions in detail (Any TWO ) : 16

(i) State and explain the law of demand with its exceptions.

(ii) Define National Income and explain its features.

(iii) Explain the role of money market in India.

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