CBSE Sample Paper 12 2020-21 Economics half yearly
Half Yearly Examination (2020-21)
Time allowed- 3:00 hour
All questions are compulsory….
Multiple Choice questions:(1×10=10)
1- Macroeconomics is also called…. economics.
a) Experimental b) applied c) aggregated d) individual
2- Gross investment=net investment+…
a) net indirect taxes b) Reserve c) Depreciation d) none of these
3- Which of the following represents national income?
a) GNPfc b) NDPfc c) NNPfc d) NNPmp
4- Under barter exchange system, barter economy is termed as
a) C-C economy
b) C-M economy
c) C-G economy
d) cash less economy
5- The rate of interest offered by the bank to deposit holders is called the….
a) bank rate
b) borrowing rate
c) lending rate
d) inflation rate
6- Central Bank of a country does not deal with_____.
a) State government
b) Central Government
c) general public
d) Commercial banks
7- What is the value of MPC when MPS is zero?
a) 1 b) 0 c) 0.5 d) None
8- In which year, railways was introduced in India?
a) 1850 b) 1853 c) 1890 d) 1892
9- In India_____ was the chairperson of planning commission.
a) Director b) Chief minister c) President d) Prime minister
9- In the post independence period, India adopted a______ approach.
a) socialist economy
b) mixed economy
c) capitalist economy
d) None of these
Very Short answer type questions:(1×10=10)
10- Define economic planning.
11- Define a small scale industry.
12- What do you understand by subsistence farming?
13- What are consumer goods?
14- Name the two types of final goods.
15- What is current replacement cost?
16- What do you mean by depreciation?
17- What do you understand by real flow?
18- Distinguish between stock and flow.
19- Define CRR.
Short answer type questions:(3×4=12)
20- Define fiduciary money.
21- Indian paper currency is inconvertible.
22- Why Indian economy was called an agricultural economy on the eve of independence?
23- Give any one merit and demerit of a socialist economic system.
Long answer type questions:(4×6=24)
24- Explain the causes of downfall of Indian handicrafts during the British rule.
25- All producer goods are not capital goods. Do you agree?
26- Define circular flow in two sector economy.
27- Define externalities. Give an example of negative externality. What is its impact on welfare?
28- If national income is Rs 500, price index is 125, calculate Real income.
29- Transfer payments are not included in the national income though it is a part of circular flow. Justify.
Very long answer type questions:(6×4=24)
30- Calculate Gross value added at factor cost from the following data.
Sales tax 20
Purchase of raw material. 250
Excise duty 30
Change in stock (-) 40
Import of raw material 12
31- Explain money creation.
32- Explain the functions of central bank.
33- Give the achievements of five year plans in India.