HBSE Class 12 Sample Paper 2024 Economics

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SAMPLE QUESTION PAPER
ECONOMICS (576)
CLASS XII SESSION 2023-24

TIME ALLOWED : 3HRS M.M :80

General Instructions:-
(i) Questions paper contains two section
Section A- Micro Economics
Section B- Macro Economics
(ii) This paper contains 20 multiple choice questions type questions of 1 mark each.
(iii) This paper contains 4 Short Answer Questions Type Questions of 3 marks each to
be answered in 60 to 80 words.
(iv) This paper contains 6 Short Answer Questions Type Questions of 4 marks each to
be answered in 80to 100 words.
(v) This paper contains 4 Long Answer Questions Type Questions of 6 marks each to
be answered in 100 to 150 words.

Section - A
1 When Marginal Product is –ve then total product is 1
(A) Zero (B) increasing (C) decreasing (D)none of these
2 Rectangular hyperbola cost curve is 1
(A) TFC (B) TVC (C) AFC (D)AVC
3 Law of variable proportion function is mainly related with 1
(A) Cost (B) Production (C) Revenue (D) none of these
4 In Perfect Competition market firm demand curve is 1
(A)Positive (B) Negative(C) Parallel to OX Axis (D) Parallel to OY Axis
5 Which one is study in micro economics 1
(A)National Income (B) Trade Cycle (C) Theory of Demand (D) inflation
6 AR curve is also known as ______________.(Demand curve/ Supply curve) 1
7 Pepsi and Coke are _______________goods.(Complementary / Substitute) 1
8 PPC are _____________.( Convex / Concave) 1
Read the following statement- Assertion (A) and Reason (R) . Choose one of the
correct alternatives given below .
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 and 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.

1

9 Assertion (A): Average cost is U shape. 1
Reason (R): Law of Variable proration is applicable in short run.
10 Assertion (A): Giffen goods are exception to law of demand. 1
Reason (R): Supply curve is +ve slopes.
11 What are causes of economics problems ? 3
OR
Explain consumer’s equilibrium with the help of Indifference curves approach.
12 What do you mean by TR, MR and AR? 3
13 Explain the law of Constant Return to Factor with the help of table and diagram. 4
OR
Explain the law of Diminishing Return to Factor with the help of table and
diagram.
14 Calculate AVC, AFC ,TVC and MC 4
Output 0 1 2 3 4 5 6
TC 40 80 110 126 128 135 180

15 Explain Price equilibrium with table and diagram. 4

16 Explain the total expenditure method of measuring price elasticity of demand. 6
OR
What is Law of Demand ? Why does Demand Curve Slope Upwards from left to
right ?
17 What do you mean by Perfect Competition market? Explain its main features. 6
OR
Explain the conditions of producer’s equilibrium in terms of marginal revenue
and marginal cost under Perfect Competition
Section – B
18 Which one is included in leakage in circular flow of income? 1
(a) borrowing by firms (b) public expenditure (c) investment (d)
saving
19 Net investments equal to 1
(a) Gross investment- Depreciation (b) Gross investment + Depreciation
(c) Gross investment ÷ Depreciation (d) Gross investment × Depreciation
20 In National Income following are not included ? 1
(a) domestic services (b) transfer income (c) intermediate goods (d) all of above

21 Which one is Central bank of India ? 1
(a) RBI (b) SBI (c) PNB (d) HDFC
22 On which date Financial year start in India ? 1
(a) 1 July (b) 1 January (c) 31 March (d) 1 April
23 Dividend a part of ______________. (Interest/ Profit) 1
24 Analysis of General Price level is related with __________________ economics 1
(Micro/Macro)
25 Primary Deficit = _________ - Interest Paid. (Revenue Deficit / Fiscal Deficit) 1
Read the following statement- Assertion (A) and Reason (R) . Choose one of the

2

correct alternatives given below .
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 and 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.
26 Assertion (A):M3 is boarder concept than M1. 1
Reason (R): Central bank control the money supply.
27 Assertion (A): Bank Rate is a part of monetary policy. 1
Reason (R): Tax is part of monetary policy.
28 Calculate Marginal Propensity to Consume (MPC) and Marginal Propensity to 3
Save (MPS)

Income (in rupees) 0 100 200 300 400
Consumption (in rupees) 60 110 150 180 200

OR
The saving function of an economy is S = -200 + 0.25Y.Calculate
i) Autonomous consumption (ii) Consumption Function
iii) Investment multiplier (K)
29 What are difference between Micro and Macro Economics? 3

30 What do you mean by government budget and its objectives ? 4

31 What do you mean by Investment Multiplier? Explain the process of Investment 4
Multiplier assuming change in Investment (∆I) is 2000 crores and marginal
propensity to consume (MPC) is 0.5.
OR
What is deficient demand ? How to overcome from it with the help of fiscal
measures?
32 What are differences between Balance of Payment and Balance of Trade ? 4

33 Explain meaning of money and functions of money. 6
OR
Distinguish between Commercial banks and Central banks?
34
Explain Value Added Method of measuring National Income ? 6

OR

Calculate National Income by (a) Income Method (b) Expenditure Method
Items (rupees in crores)
i) Compensation of Employees 600

3

ii) Govt. final consumption expenditure 550
iii) Net factor income from abroad -10
iv) Net export -15
v) Profit 400
vi) Net indirect tax 60
vii) Mixed income of self employed 350
viii) Rent 200
ix) Interest 310
x) Private final consumption expenditure 1000
xi) Net domestic capital formation 385
xii) Consumption of fixed capital 85
xiii) Change in stock 20

4

576

XII

i
ii

iii
iv

v

vi

vii

–ve
a) b c d
Retangular Hyperbola
a) b c d

a) b c d

a) b c OX d OY

5

a) b c d

(A) ( R)

(a) (A) ( R) ( R) ( A)

(b) (A) ( R) ( R) ( A)

(c) (A) ( R)
(d) (A) v ( R)
(A): U
( R) :
(A):
( R) :

AVC AFC
TVC MC

6

6

a) b) c) d)

a) b)
c) ÷ d) x

a) b) c) d)

a) RBI b) SBI c) PNB d) HDFC

a) b) c) d)

=
(A) ( R)

(a) (A) ( R) ( R) ( A)

(b) (A) ( R) ( R) ( A)

(c) (A) ( R)
(d) (A) v ( R)
(A): M3,M1
( R) :
(A):
( R) :

7

S = -200+ 0. 25Y
i ii iii K

I MPC

a) b

i
ii
iii
iv
v
vi
vii
viii
ix
x
xi
xii

8

xiii

9