Economics Class 12 Answer Key Term-1  

Economics Answer Key Class 12 Term-1 Paper Code- 058/2/4, Series SSJ/2: CBSE Economics Term-1 Exam is conducted today on 15th December 2021. The students who appeared in today's Economics Exam must be wandering to know the correct answers to the questions asked, then you must read this article to know the complete Class 12 Economics Answer Key Term-1 for Paper Code- 058/2/4, Series SSJ/2, Paper Code 058/1/4, Series SSJ/1 & Paper Code- 058/3/4, Series SSK/3. The Economics Answer Key is helpful to have a brief idea of how many marks you are going to score in today's Economics Term-1 Exam. No need to go anywhere else just scroll down the page and check all the correct responses to today's Economics Class 12 Term-1 Exam.

Economics Answer Key Class 12

Central Board of Secondary Education has divided the Class 12 Economics Board Exam into two Terms. In Term-1 the exam there will be 60 questions divided into three sections out of which students have to attempt 50 questions for which the exam pattern that has been followed is as follows-

1. Section A consists of 24 questions. Attempt a total of 20 questions from this section.

2. Section B consists of 24 questions. Attempt a total of 20 questions from this section.

3. Section C consists of 12 questions. Attempt 10 questions from this section.

CBSE Class 12 Economics Answer Key Term-1 

Till the official Economics Answer Key Class 12 for Term-1 is released, you can have a look at the unofficial Economics Answer Key for Class 12 from this article which is updated below. 

CBSE Class 12 Economics Answer Key Term-1 (058/2/4, Series SSJ/2 & 058/3/4, Series SSK/3 & 058/1/4, Series SSJ/1)
Exam Conducting BodyCentral Board of Secondary Education
ClassCBSE Class 12
Exam NameEconomics
Post CategoryAnswer Key
Paper CodePaper Code- 058/2/4, Series SSJ/2
Paper Code- 058/3/4, Series SSK/3
Paper Code- 058/1/4, Series SSJ/1
Exam Date15th December 2021 (Wednesday)
Class 12 Economics Answer Key (Unofficial )15th December 2021
Official Answer KeyTo be notified
Official Websitehttps://www.cbse.nic.in/

CBSE Class 12 Economics Answer Key 2021

As per the CBSE Class 12 Economics Syllabus Term-I will comprise of 8 units namely- National Income and Related Aggregates, Money and Banking, Determination of Income and Employment, Government Budget and the Economy, Balance of Payments, Development Experience (1947-90) and Economic Reforms since 1991, Current Challenges facing Indian Economy, and Development Experience of India – A Comparison with Neighbours. To know the correct answer for CBSE Class 12 Economics Term-1 Exam, have a look at the complete Economics Class 12 Answer Key for Paper Code- 058/2/4, Series SSJ/2, Paper Code- 058/3/4, Series SSK/3 and Paper Code-058/1/4, Series SSJ/1.

Economics Answer Key for Class 12 Term 1 Exam (Paper Code- 058/2/4, Series SSJ/2)
Q1- CQ2- BQ3- BQ4- CQ5- A
Q6- BQ7- CQ8- DQ9- DQ10-B
Q11- CQ12- AQ13- DQ14- AQ15- A
Q16- CQ17- DQ18- BQ19- AQ20- D
Q21- BQ22- CQ23- BQ24- A Q25- D
Q26- AQ27- BQ28- DQ29- BQ30- D
Q31- AQ32- AQ33- AQ34- CQ35- D
Q36- BQ37- AQ38- CQ39- DQ40- C
Q41- AQ42- CQ43- CQ44- BQ45- A
Q46- CQ47- BQ48- AQ49- CQ50- D
Q51- BQ52- AQ53- CQ54- CQ55- B
Q56- AQ57- CQ58- CQ59- AQ60- D
Economics Answer Key for Class 12 Term 1 Exam (Paper Code- 058/3/4, Series SSK/3)
Q1- CQ2- CQ3- BQ3- AQ5- A
Q6- AQ7- CQ8- AQ9- DQ10- B
Q11- DQ12- AQ13- BQ14- AQ15- C
Q16- CQ17- BQ18- BQ19- AQ20- D
Q21- CQ22- DQ23- DQ24- CQ25- C
Q26- CQ27- DQ28- BQ29- CQ30- A
Q31- CQ32- AQ33- BQ34- BQ35- D
Q36- AQ37- BQ38- BQ39- DQ40- D
Q41- DQ42- BQ43- BQ44- DQ45- A
Q46- AQ47- BQ48- DQ49- BQ50- B
Q51- DQ52- CQ53- BQ54- CQ55- A
Q56- CQ57- DQ58- BQ59- DQ60- C
Economics Answer Key for Class 12 Term 1 Exam (Paper Code- 058/1/4, Series SSJ/1)
Q1- BQ2- DQ3- DQ3- CQ5- A
Q6- CQ7- DQ8- DQ9- CQ10- C
Q11- AQ12- DQ13- CQ14- DQ15- C
Q16- AQ17- BQ18- BQ19- DQ20- D
Q21- AQ22- BQ23- AQ24- CQ25- A
Q26- DQ27- CQ28- CQ29- DQ30- B
Q31- AQ32- CQ33- BQ34- CQ35- C
Q36- BQ37- CQ38- DQ39- DQ40- B
Q41- AQ42- CQ43- DQ44- CQ45- C
Q46- DQ47- AQ48- DQ49- DQ50- A
Q51- AQ52- BQ53- DQ54- BQ55- D
Q56- CQ57- AQ58- DQ59- CQ60- C

Class 12 Economics Question Paper-058/2/4, Series SSJ/2

Class 12 Economics Question Paper-058/1/4, Series SSJ/1

Class 12 Economics Question Paper-058/3/4, Series SSK/3

CBSE Class 12 Economics Answer Key & Question Paper

Here, we have provided the complete Class 12 Economics Answer Key for Term-1 here with correct answers one by one. So if are looking for the complete CBSE Class 12 Economics Answer Key do check the questions & their answers below for Paper Code- 058/2/4, Series SSJ/2  The PDF is attached above and below are the questions asked with the Class 12 Chemistry Answer Key.

Q1. Identify which of the following is an example of non-debt capital receipt.

(a) Financial aid from MNC for victims in flood affected area.

(b) Borrowings from International Monetary Fund (IMF). 

(c) Recovery of loans from State Governments. 

(d) Dividend paid by State Bank of India (SBI) to the Government. 

Answer- (c)

Q2. ____ is the difference between the value of export and import of services; transfers payments in a given period of time (Fill up the blank with correct alternative) 

(a) Balance of trade

by Net Invisibles (Services) 

(c) Trade surplus

(d) Current account of BOP 

Answer- (b)

Q3. ______ is not related to the banking system. (Fill up the blank with correct alternative) 

(a) Bank rate

b) Fiscal deficit •

(c) Credit creation

(d) Cash reserve ratio

Answer- (b)

Q4. Which of the following item will be entered on the credit side of the current account in the Balance of Payment of a country? (Choose the correct alternative)

a) Borrowings from abroad 

(b) Import of Machinery 

(c) Export of tea

(d) Foreign Direct Investment

Answer- (c)

Q5. Read the following statements carefully and choose the correct alternative : 

Statement-I: The demonetisation of currency was undertaken by Indian government on November 8, 2016. 

Statement-II: Demonetisation has increased the popularity of e-wallets in India.

(a) Both the statements are true.

(b) Both the statements are false. 

(c) Statement-I is true, Statement-II is false. 

(d) Statement-II is true, Statement-I is false.

Answer- (a)

Q6. Central Bank as __ manages public debt of the government. (Fill up the blank with correct alternative) 

(a) Custodian of Foreign Exchange 

(b) Agent 

(c) Financial Advisor

(d) Supervisor

Answer- (b)

Q7. Read the following statements carefully and choose the correct alternative : 

Statement-I: Public goods are non-excludable. 

Statement-II: Consumption of public goods by people is of rivalous nature. 

(a) Both the statements are true. 

(b) Both the statements are false. 

(c) Statement-I is true, Statement-II is false.

(d) Statement-II is true, Statement-I is false.

Answer- (c)

Q8. Price of one currency in relation to another currency, determined by the free market forces, is known as (Fill up the blank with correct alternative) 

(a) Equilibrium Price

(b) Fixed Exchange Rate 

(c) Foreign Exchange Rate 

(d) Flexible Exchange Rate.

Answer- (d)

Q9. Process of credit creation by commercial banks comes to an end when _____(Fill up the blank with correct alternative) 

(a) Fresh deposits with Banks become zero. 

(b) Reserve Ratio become zero. 

(c) Money multiplier becomes zero. 

(d) Total money reserves become equals to initial deposit.

Answer- (d)

Q10. In _______First 'Industrial Policy Resolution of Independent India was announced. (Fill up the blank with correct alternative) 

(a) 1947

(b) 1948 

(c) 1951

(d) 1956

Answer- (b)

Q11. During the colonial period, estimates of ____- on national income and per capita income was considered very significant. (Fill up the blank with correct alternative) 

(a) Dadabhai Naoroji

(b) William Digby 

(c) V.K.R.V. Rao

(d) R.C. Desai 

Answer- (c)

Q12. Match the items of Column-I to Column-II & choose the correct alternative : 

 Column I Column II
AGoods produced by small scale industries were deservediTax Reforms
BForeign - Investment limit raised to around 50%iiForeign Exchange Reforms 
CThe rate of corporation tax has been reducediiiFinancial Sector Reforms 
DMarket determines exchange rates system was adoptedivDeregulation of Industrial Sector

(a) A-iv B-iii C-i D-ii. 

(b) A-iii B-iv C-i D-ii. 

(c) A-iv B-iii C-ii D-i 

(d) A-iii B-iv C-ii D-i

Answer- (a)

Q13. ___ is not a type of land reform introduced by the Government of India, after Independence. (Fill up the blank with correct alternative) 

(a) Land ceiling 

(b) Abolition of intermediaries 

(c) Change in ownership of land holding

(d) Use of High Yielding Variety (HYV) 

Answer- (d)

Q14. Read the following statements carefully and choose the correct alternative: 

Statement-I : The Planning Commission has defined poverty line on the basis of minimum calorie intake of an individual in a day.

Statement-II: Monthly Per Capita Consumption Expenditure (MPCE) method is also used to determine poverty line in India. 

(a) Both the statements are true.

(b) Both the statements are false

(c) Statement-I is true, Statement-II is false

(d) Statement-II is true, Statement-I is false.

Answer- (a)

Q15. In 1991, ____ was the immediate impact of the devaluation of Indian Rupee. (Fill up the blank with correct alternative) 

(a) Increase in inflow of foreign exchange 

(b) Decrease in inflow of foreign exchange

(c) Increase in outflow of foreign exchange 

(d) Fall in foreign exchange reserve

Answer- (a)

Q16. _____was known as Architect of Indian Economic Planning. (Fill up the blank with correct alternative) 

(a) Pandit Jawahar Lal Nehru 

(b) Dr. Manmohan Singh 

(c) P.C. Mahalanobis 

(d) Dr. B.R. Ambedkar

Answer- (c)

Q17. Identify the incorrect statement from the following: (Choose the correct alternative) 

(a) Horticulture has emerged as a successful sustainable livelihood option for farmers in India. 

(b) Horticulture is an important sector for potential diversification and value addition in agriculture.

(c) India is blessed with supportive climatic and soil conditions for horticulture. 

(d) Horticulture is the business related to producing, storing and distributing food grains.

Answer- (d) 

Q18. 'Budget is used as an important policy instrument to combat fluctuations in an economy.' (Choose the correct alternative). In the light of the above lines, identify the related objective of government budget. 

(a) Allocation of resources

(b) Stabilisation of prices

(c) Growth of the economy 

(d). Redistribution of income 

Answer- (b)

Q19. Read the following statements carefully and choose the correct alternative

Statement-I: Concept of absolute poverty is used to identify of poor people in India. 

Statement-II: Increase in per-capita Gross Domestic Product (GDP) helps in eradiction of poverty in a nation. 

(a) Both the statements are true. 

(b) Both the statements are false.

(c) Statement-I is true and Statement-II is false

(d) Statement-II is true and Statement-I is false. 

Answer- (a)

Q20. Statutory liquidity ratio implies to that percentage of (Fill up the blanks with correct alternative) 

(a) total deposits of the commercial banks which must be kept in the current account, with the Reserve Bank of India. 

(b) total deposits of the commercial banks which must be kept in the form of liquid assets, with the Reserve Bank of India. 

(c) net time and demand deposit liabilities of the commercial banks which must be kept in the form of cash, with the Reserve Bank of India. 

(d) net time and demand deposit liabilities of the commercial bank which must be kept with themselves in the form of liquid assets..

Answer- (d)

Q21. Identify the incorrect statement in the context of human capital. (Choose the correct alternative) 

(a) Human capital is intangible in nature.

(b) Human capital is perfectly mobile. 

(c) Human capital is inseparable from its owner 

(d) Human capital cannot be sold in a market like a commodity.

Answer- (b)

Q22. Read the following statements carefully and choose the correct alternative : 

Statement-I : The tax reduction in the economic reform period was aimed at yielding larger tax revenue and curb tax evasion. 

Statement-II : Tax reductions negatively affected the developmental and welfare expenditure of government. 

(a) Both the statements are true 

(b) Both the statements are false 

(c) Statement-I is true, Statement-II is false

(d) Statement-II is true, Statement-I is false

Answer- (c)

Q23. During the second half of the 19th century, the cotton textile mills mainly dominated by Indian entrepreneurs were located mainly in (Fill up the blank with correct alternative) 

(a) Bengal

(b) Maharashtra 

(c) Calcutta

(d) Madhya Pradesh

Answer- (b)

Q24. The vaccination campaign for containing COVID-19 is an example of ____ medicine. (Fill up the blank with correct alternative)

(a) Preventive

(b) Curative 

(c) Social

(d) Emotional 

Answer- (a)

Q25. In the context of the current account, identify the incorrect statement from the following: 

(a) Export of goods and services are recorded as credit items. 

(b) Imports of goods and services are recorded as debit items. 

(c) All transfer payments are recorded as debit items. 

(d) Left All transfer receipts are recorded as debit items..

Answer- (d)

Q26. If the Legal Reserve Ratio is 20% and the Initial deposit is. 2,000, then the value of money multiplier and total money creation will be and (Fill up the blanks with correct alternative) 

(a) 5, 10,000

(b) 4, 8,000 

(c) 6, 2,000

(d) 4, 10,000

Answer- (a)

Q27. Read the following statements – Assertion (A) & Reason (R) carefully & choose the correct alternative : 

Assertion (A): Post 1991, India has become the favoured outsourcing destination in the world. 

Reason (R): Indian labour has a skilled labour force. 

(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the

correct explanation for Assertion (A). 

(b) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation for Assertion (A). 

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

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

Answer- (b)

Related Links
CBSE Class 12 Chemistry Answer KeyCBSE Class 12 Chemistry MCQ
Class 12 Economics Sample PaperCBSE Class 12 English Answer Key
CBSE Class 12 Physics MCQClass 12 Maths Answer key Term-1
CBSE Class 12 English MCQsClass 12 Geography Answer Key Term-1
CBSE Class 12 Maths MCQs Class 12 Hindi Answer key

CBSE Class 12 Maths Syllabus (Term 1+Term 2)- Click Here

CBSE Class 12 English Syllabus (Term 1+Term 2)- Click Here

Economics Answer Key Class 12: FAQs

Ans. At Careerpower, we have provided accurate Economics Answer Key Class 12 for Term-1 held on 15th December 2021.

Ans. NSSO collects statistics on poverty in India

Ans. P.C. Mahalanobis is known as Architect of Indian Economic Planning

Important Links