CBSE Sample Paper 12 2020-21 Economics half yearly

Half Yearly Examination (2020-21)


Time allowed- 3:00 hour

Maximum Marks:80

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

Sales                                                 400

Purchase of raw material.    250

Excise duty                                      30

Change in stock                    (-) 40

Import of raw material                   12

Depreciation                            9

31- Explain money creation.

32- Explain the functions of central bank.

33- Give the achievements of five year plans in India.

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