MBOSE Class 12 Question Paper 2026 for Economics

FOR MBOSE CLASS 12 EXAM PREPARATION

MBOSE Class 12 2026
Question Paper ·
Economics
EXAM YEAR TYPE SUBJECT

MBOSE Class 12 2026 Question Paper Economics

Notes · Sample Papers · Previous Year Papers · Mock Tests

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Total No. of Printed Pages—12
HS/XII/A.Com/Ec/26
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2026
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a ECONOMICS

Full Marks : 80

Time : 3 hours

The figures in the margin indicate full marks for the questions
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General Instructions :
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a compulsory.
(i) All questions in both the Parts

(ii) Marks for questions are indicated against each question.

(iii) Question Nos. 1–10 and 18–27 are MCQs (objective-type)
questions carrying 1 (one) mark each.

(iv) Question Nos. 11, 12, 28 and 29 are short answer-type
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questions carrying 3 (three) marks each. Answers to them

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should be 60 to 80 words each.
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(v). Question Nos. 13–15 and 30–32 are also short answer- se
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to them should be 80 to 100 words each.

(vi) Question Nos. 16, 17, 33 and 34 are long answer-type
questions carrying 6 (six) marks each. Answers to them
should be 100 to 150 words each.

/34 [ P.T.O.

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( 2 )

PART—A
( Introductory Macroeconomics )
( Marks : 40 )

1. An activity which results in value addition is

(a) consumption

(b) investment

(c) production

(d) exchange 1

2. Read the following dialogue between Sara and Rahul :
Sara : I want to shift to Singapore. What do I do with
my house?
Rahul : I can give you 10 antique pieces.
Sara : But I do not need antique pieces.
Rahul : Then let the house remain where it is.

Which of the following problems is being faced by Sara
and Rahul in their exchange process?
1

(a) Lack of medium of exchange

(b) Lack of transfer of value

(c) Lack of store of value

(d) Lack of standard of deferred payment

HS/XII/A.Com/Ec/26/34 [ Contd.

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( 3 )

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3. Currency with public = T 570 crore
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Net demand deposits = T 250 crore
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Time deposits with banks = T 975 crore
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From the above
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information, the value of money supply ( M 1) ag
a economy is ———— crore. 1
(a) T 570

(b) T 820

(c) T 1,225

(d) T 1,795

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4. Which of the following equations is correct?
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(a) MPC + MPS = 1
(b) 1 – MPC = MPS
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(c) 1 – MPS = MPC
(d) All of the above

5. With reference to the given diagram, which of the
following is true at point B ? 1
Y Y

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Consumption

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B

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O Income
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(b) APC = 1
(c) APS = 0
(d) Both (b) and (c)

HS/XII/A.Com/Ec/26/34 [ P.T.O.

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( 4 )

6. Fiscal deficit equals
(a) primary deficit – interest payments
(b) primary deficit + interest payments
(c) total budget expenditures – total budget receipts
(d) None of the above 1

7. Which of the following receipts in the government budget
increases its liability? 1
(a) Borrowing
(b) Disinvestment
(c) Recovery of loans
(d) Dividend from PSUs

8. Read the following statements and choose the correct
answer from the given alternatives : 1
Statement 1 :
Balance of Trade records invisible items only.
Statement 2 :
Balance of Payments records visible items, invisible
items, unilateral transfers and capital transfers.
Alternatives :

(a) Both the Statements are true
(b) Both the Statements are false
(c) Statement 1 is true and Statement 2 is false
(d) Statement 2 is true and Statement 1 is false

HS/XII/A.Com/Ec/26/34 [ Contd.

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( 5 )

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9. Read the following Assertion (A) and Reason (R). Choose
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the correct alternative given below : 1
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Assertion (A) :

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a required to buy a dollar.
Devaluation of Indian rupee implies that more rupees
are
Reason (R) :
Devaluation of domestic currency makes foreign
goods more expensive.
Alternatives :

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(a) Both Assertion (A) and Reason (R) are true, and
Reason (R) is the correct explanation of Assertion (A)
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Both Assertion (A) and Reason (R) are true, but

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Reason (R) is not the correct explanation of
Assertion (A)

(c) Assertion (A) is true but Reason (R) is false

(d) Assertion (A) is false but Reason (R) is true

10. Gifts and donations from abroad are recorded in the

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(a) credit side of Current Account of BOP
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c. o(b) debit side of Current Account of BOP s em
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ag (d) debit side of Capital Account of BOP 1

11. Define GDP deflator. In an economy, if the real GDP is
T 300 crore and nominal GDP is T 360 crore, calculate
GDP deflator. 1+2=3

HS/XII/A.Com/Ec/26/34 [ P.T.O.

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( 6 )

Or
Giving reasons, classify the following as intermediate or
final goods : 1+1+1=3
(a) Oranges purchased by a fruit seller
(b) Milk purchased by a household
(c) Wood purchased for making chairs

12. What is balance of trade? The balance of trade shows a
deficit of T 500 crore. If the value of exports is T 400 crore,
what is the value of import? 1+2=3
Or
Explain the effects of increase in supply of foreign
currency on equilibrium exchange rate. 3

13. Differentiate between the Central Bank and Commercial
Bank. Explain any one function of the Central Bank. 2+2=4

14. (a) On the basis of the following hypothetical data—
Income (Y ) Consumption (C )
T 1,000 crore T 750 crore
calculate (i) APC and (ii) APS. 1+1=2

(b) On the basis of the following hypothetical data—
Income (Y ) Consumption (C )
T 1,000 crore T 750 crore
T 1,200 crore T 900 crore
calculate (i) MPC and (ii) MPS. 1+1=2
Or
What is full employment? Compare between Voluntary
unemployment and Involuntary unemployment. 1+3=4

HS/XII/A.Com/Ec/26/34 [ Contd.

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( 7 )

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15. Giving reasons, categorize the following into revenue
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expenditure and capital expenditure : 1+1+1+1=4
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(a)
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Repayment of loan borrowed from the World Bank
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(b) Provision ag
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(c) Expenditure on law and order
(d) Expenditure on construction of a dam
Or

What does it imply if primary deficit is zero? Find
borrowing by the government if interest payment is
T 1,950 crore which is 25% of primary deficit.
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1+3=4

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16. Explain the circular flow of income in a two-sector model. 6
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Explain the expenditure method of measuring national
income. 6

17. Explain the determination of equilibrium level of output
and income with the help of aggregate demand and
aggregate supply curves. 6

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Or
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+ 0 × 5Y and the investment is T 7,000 crore. se
function of an economy is given by
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(b) consumption level at the equilibrium level of income;
(c) level of savings at T 12,000 crore income level.
2+2+2=6

HS/XII/A.Com/Ec/26/34 [ P.T.O.

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( 8 )

PART—B
( Indian Economic Development )
( Marks : 40 )

18. After Independence, in order to bring equity in
agriculture, land reforms/policies were introduced by the
government that include
(i) abolition of Zamindari system
(ii) Green Revolution
(iii) land ceiling
Alternatives :
(a) Only (i)
(b) Only (ii)
(c) Both (i) and (iii)
(d) (i), (ii) and (iii) 1

19. Selling off part of the equity of PSUs is called
(a) globalization
(b) privatization
(c) disinvestment
(d) None of the above 1

20. ——— and ——— currency notes of old Mahatma
Gandhi Series were banned as legal tender money on
8th November, 2016. 1
(a) T 50, T 100
(b) T 200, T 500
(c) T 500, T 1,000
(d) T 500, T 2,000

HS/XII/A.Com/Ec/26/34 [ Contd.

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( 9 )

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21. Which of the following is the correct formula for
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calculating worker–population ratio? 1
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Total labour force
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(a) ´100
Total population
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(b) ´100
Total population

Total population
(c) ´100
Total labour force

Total population
(d) ´100
Total workers
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22. Choose the correct pair :
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a
Column—I

(a) Short-term credit (i) Sustains soil fertility
(b) Chemical farming (ii) Tastier and healthier food
(c) Cooperative credit (iii) Adequate credit to the
societies farmers at reasonable
rate of interest

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(d) Regular workers (iv) Daily wages

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. c Regular workers are hired on ——— basis and are entitled em
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23.
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(a) temporary
(b) permanent
(c) Both (a) and (b)
(d) Neither (a) nor (b)

HS/XII/A.Com/Ec/26/34 [ P.T.O.

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( 10 )

24. Read the following Assertion (A) and Reason (R). Choose
the correct alternative given below : 1
Assertion (A) :
China has the highest life expectancy in the world.
Reason (R) :
Maternal mortality rate of India is higher than that
of China.
Alternatives :
(a) Both Assertion (A) and Reason (R) are true, and
Reason (R) is the correct explanation of Assertion (A)
(b) Both Assertion (A) and Reason (R) are true, but
Reason (R) is not the correct explanation of
Assertion (A)
(c) Assertion (A) is true but Reason (R) is false
(d) Assertion (A) is false but Reason (R) is true

25. In China, commune system is related to ——— sector. 1
(a) agriculture
(b) industry
(c) service
(d) None of the above

26. ——— initiated its process of economic reforms in 1991. 1
(a) China
(b) Pakistan
(c) India
(d) All of the above

HS/XII/A.Com/Ec/26/34 [ Contd.

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( 11 )

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27. Read the following statements carefully and choose the
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correct answer among the given alternatives : 1
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Statement 1 :
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In both ag
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Statement 2 :
Among China, Pakistan and India, Pakistan has the
lowest life expectancy rate.
Alternatives :
(a) Both the Statements are true
(b) Both the Statements are false
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(c) Statement 1 is true and Statement. 2 is false
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(d) Statement 2 is true and Statement
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a of India’s demographic
28. Give a quantitative appraisal
profile during the colonial period. 3
Or
What are the measures adopted by the government to
promote globalization in the Indian economy? 3

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29. “Use of public transport in place of personal transport

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reduces environmental degradation.” Justify the given
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and health sectors in India.” Do you agree with the given
a statement? Give reasons. 4
Or
What is agricultural diversification? Why is agricultural
diversification essential for sustainable livelihood? 1+3=4

HS/XII/A.Com/Ec/26/34 [ P.T.O.

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( 12 )

31. Differentiate between : 2+2=4
(a) Regular worker and Casual worker
(b) Formal sector and Informal sector

32. Compare the economies of India and China on the
following two parameters : 2+2=4
(a) Human Development Index
(b) GDP growth

33. What was the state of the industrial sector of the Indian
economy on the eve of Independence? 6
Or
Elucidate the importance of small-scale industries in the
economy of India. 6

34. Define human capital formation. What factors contribute
to human capital formation? 1+5=6
Or
What is agricultural marketing? Spell out the measures
taken by the government to improve agricultural
marketing system. 1+5=6

HHH

HS/XII/A.Com/Ec/26/34 26K—13890

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