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The CBSE Class 12 Economics Exam 2024 has been successfully conducted today i.e., March 18, 2024 by the Central Board of Secondary Education. The exam was successfully conducted in offline mode from 10:30 am and will last till 01:30 pm at various examination centers. As the CBSE Class 12th Economics Exam 2024 has been successfully conducted students will be able to download the CBSE Class 12th Economics Answer Key 2024 PDF with a complete Question Paper analysis from the direct link that has been shared here.
CBSE Class 12 Economics Answer Key 2024
The Central Board of Secondary Education successfully conducted the CBSE Class 12th Economics Exam 2024 today i.e., March 18, 2024 at various examination centers. The students were provided a total time duration of 3 hours to complete the examination and an extra 15 minutes were given for reading the question paper. The Economics theory paper was divided into two parts, namely, macroeconomics and Indian Economic Development. The Economics Question paper consisted of 20 Multiple Choice Questions of 1 mark each. There were 4 Short Answer Questions of 3 marks each, 6 Short Answer Questions of 4 marks each to be answered in 80 to 100 words. 4 Long Answer Questions of 6 marks each.
Class 12 Economics Answer Key 2024
The CBSE Class 12th Economics exam 2024 was conducted for a total of 100 marks out of which 80 marks were for the theory exam and the rest 20 marks were for the internal assessments. The CBSE Class 12th Economics board exam 2024 was conducted in offline mode i.e., pen and paper mode for a total time duration of 3 hours. Other details regarding the CBSE Class 12th Economics Answer Key 2024 have been tabulated below:
CBSE Class 12 Economics Answer Key 2024 | |
Exam Conducting Body | Central Board of Secondary Education |
Name of the Examination | CBSE Class 12th Board Examination 2024 |
Category | Answer Key |
Status | To be released |
CBSE Class 12th Economics Exam date 2024 | March 18, 2024 |
CBSE Class 12th Economics Answer Key 2024 | March 2024 |
Mode of Answer Key availability | Online mode |
Class 12 Economics Total marks (Theory Exam) | 80 Marks |
Negative Marking | No negative Marking |
Official Website | https://www.cbse.nic.in/ |
CBSE Class 12 Economics Exam Paper Analysis 2024
All the students who appeared for the CBSE Class 12th Economics Exam today i.e., March 18, 2024 said that the question paper was difficult. It would fall under the moderate to difficult category. The question paper format was aligned to the format of the sample paper, released by the board. Challenging Areas Assertion-Reasoning, Descriptive Type Answers, Image-Based Questions, MCQs, and Numericals. Sections A and B comprised of similar questions.
- The overall difficulty level of the question paper was difficult.
- According to the students the economics question paper was lengthy in nature.
- Every question was from the syllabus, there was no out-of-syllabus question.
- Students said that both Macro Economics and Indian Economic Development were equally tough and easy at the same time
- MCQs from both sections were direct in nature but challenging.
- Short answer-type questions were moderately challenging.
- Assertion Reasoning was tricky
Experts also opined that the Class 12th economics question paper was difficult. There were a lot of competency-based questions thus ensuring practical applications of the theoretical concepts in the question paper. There was a good mixture of easy and challenging questions where students had to read the question and think before answering.
CBSE Class 12 Economics Answer Key 2024 All SET
SECTION A – MACRO ECONOMICS MARKS
Q.1 to Q.10 carry 1 mark each
1 Read the following statements carefully:
Statement 1: A consumption function describes the relationship between consumption and savings.
Statement 2: Consumption functions consists of two components – autonomous consumption and induced consumption.
In light of the given statements, choose the correct alternative from the following:
a) Statement 1 is true and Statement 2 is false.
b) Statement 1 is false and Statement 2 is true.
c) Both Statements 1 and 2 are true.
d) Both Statements 1 and 2 are false.
Answer: b) Statement 1 is false and Statement 2 is true.
2 Identify which of the following is not one of the merits of fixed exchange rate system.
(A) Ensures stability in exchange rate
(B) Possibility of under or over valuation of foreign currency
(C) Prevents speculations in foreign exchange market
(D) Coordination of macroeconomic policies becomes convenient.
Answer: (D) Coordination of macroeconomic policies becomes convenient.
3. Study the following figure carefully and choose the correct alternative to fill in the blanks
Alternatives
(A) Investments
(B) Trade of Services
(C) External Borrowings
(D) External Assistance
Answer: (B) Trade of Services
5. Read the following Statements carefully:
Statement 1: Economics Territory and Political Frontier of a nation are one and the same thing.
Statement 2: American Embassy in India is a part of the economic territory of India.
(A) Statement 1 is true and Statement 2 is false
(B) Statement 1 is false and Statement 2 is true
(C) Both Statements 1 and 2 are true.
(D) Both Statements 1 and 2 are false.
Answer: (D) Both Statements 1 and 2 are false.
6. Read the following Statements carefully:
Statement 1: Money is a commodity that is generally accepted as a medium of exchange.
Statement 2: Money Solved the problem of double coincidence of wants.
(A) Statement 1 is true and Statement 2 is false
(B) Statement 1 is false and Statement 2 is true
(C) Both Statements 1 and 2 are true.
(D) Both Statements 1 and 2 are false.
Answer: (C) Both Statements 1 and 2 are true.
7. Suppose in an imaginary autonomous consumption = 500 crore and marginal prospensity to consume = 0.8. The saving function for the economy would be ____
(A) 500+0.8Y
(B)(-)500+0.8Y
(C) 500+0.2Y
(D)(-)500+0.2Y
Answer: (D)(-)500+0.2Y
8. Read the following Statements: two statements are given one labelled as Assertion (A) and the other labelled as Reason (R).
Assertion (A): The maximum value of marginal propensity to save MPS can be unity
Reason (R): At the break-even level of income, savings are zero.
Select the correct answer to these questions from the codes (A), (B), (C) and (D) as given below.
(A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of the Assertion (A).
(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Assertion (A) is false, but Reason (R) is true.
Answer: (D) Assertion (A) is false, but Reason (R) is true.
10. Assertion (A): The equilibrium level of income is determined. when ex-ante spending and ex-ante output are equal.
Reason (R): The equilibrium level of income may or may not be the same as the full employment level of output.
Select the correct answer to these questions from the codes (A), (B), (C) and (D) as given below.
(A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of the Assertion (A).
(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Assertion (A) is false, but Reason (R) is true.
Answer: (B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
CBSE Class 12 Economics Answer Key 2024 SET 2
1. “Mr Sahotra borrowed funds from bank for purchasing a new house”. From the above statement, identify the indicated function of money:
(A) Medium of Exchange
(B) Store of Value
(C) Unit of account
(D) Standard of deferred payments
2. If in an economy the initial deposits are Rs 4000 crore and Reserve Ratio (RR) is 10%. The value of total deposit created would be ___ crore.
(A) 4,000
(B) 40,000
(C) 2,000
(D) 20,000
3. Identify, which of the following is not considered as Normal Resident of India? 1
(A) An Indian citizen working in U.S.A. embassy located at New Delhi.
(B) An Indian officials working in Indian embassy in China.
(C) An Indian diplomats visiting Canada for a summit.
(D) An Indian working in an American Company located in New York for a period of more than 1 year.
4. Read the following statements carefully:
Statement 1: Ex-post savings and Ex-post investments are equal at all levels of income.
Statement 2: Under the effective demand principle, the equilibrium output is equal to ex-ante Aggregate Demand (AD).
In the light of the given statements, choose the correct alternative from the following:
(A) Statement 1 is true and Statement 2 is false.
(B) Statement 1 is false and Statement 2 is true
(C) Both Statements 1 and 2 are true.
(D) Both Statements 1 and 2 are false.
5. In a hypothetical economy, entire additional income is consumed, the value of investment multiplier will be ___________ (Fill up the blank with correct alternative.)
(A) One (1)
(B) Zero (0)
(C) Between zero (0) and one (1)
(D) Infinity (∞)
6. From the given table, identify that level of income, where Average Propensity to Save (APS) becomes zero: (Choose the correct alternative.)
Income (crore) | 0 | 50 | 100 | 200 | 300 | 400 |
Consumption (crore) | 50 | 75 | 100 | 150 | 200 | 250 |
(A) 50
(B) 100
(C) 200
(D) 0
7. Identify, what does the shaded area (AEFG), in the given figure indicate?
I. Consumption > Income
II. Saving = Zero (0)
III. Consumption < Income
IV. Saving Zero (0)
Alternatives:
(A) I and II
(B) II and III
(C) III and IV
(D) I and IV
For Visually Impaired Candidates:
Marginal Propensity to Save (MPS) is the slope of (Choose the correct alternative.)
(A) Consumption function
(B) Cost function
(C)Saving function
(D) Investment
8. The measurement of Balance of Payments deficit is based on _________ transactions. (Fill Payments deficit is based on up the blank with correct alternative.)
(A) Autonomous
(B) Accommodating
(C) Current account
(D) Capital account
9. From the following, identify the correct reasons that may affect the supply of foreign exchange in an economy:
I. Purchase of land in England by an Indian
II. Foreign tourists visiting Taj Mahal
III. Donation of $ 500 million from Microsoft
IV. Indian students going to Australia for studies
Alternatives:
(A) I and II
(B) II and IV
(C) II and III
(D) I and IV
10. If in an economy the Balance of Trade is showing a deficit of 200 crore and the value of import is 900 crore, then the value of exports would be crore. (Fill up the blank with correct alternative.)
(A) 200
(B) 1100
(C) 700
(D) 900
11. (a) Calculate Net Value Added at Factor Cost (NVA) from the following 11 data:
S.No | Particulars | Amount (in lakhs) |
i | Fixed capital goods (expected life span – 5 years) | 15 |
ii | Domestic Sales | 200 |
iii | Change in stock | (-) 10 |
iv | Exports | 10 |
v | Single use producer goods | 120 |
vi | Net indirect taxes | 20 |
(b) From the following data, estimate the value of Net Indirect Taxes (NIT):
S.No | Particulars | Amount (in Crores) |
i | Net National Product Market Price (NNPMP | 1,400 |
ii | Net Factor Income from abroad | (-) 20 |
iii | Gross National Product at Factor Cost (GNPFC) | 1,300 |
iv | Consumption of fixed capital | 100 |
12. Define with suitable examples, autonomous transactions and accommodating transactions in the Balance of Payments of an economy.
13. (a) (i) “With an objective to reduce inflation, government may reduce public Expenditure.” Discuss the rationale behind such a step which may be taken by the Government.
(ii) Define Effective Demand Principle.
OR
(b) (i) State the meaning of ‘unintended accumulation of inventories’. (ii) “In an economy, Aggregate Demand (AD) is more than Aggregate Supply (AS).”
Elaborate the possible impacts of the same, on the level of output, income, and employment.
14. Suppose an economy is in equilibrium. From the following data, calculate investment expenditure in economy:
(i) National Income (Y) =₹10,000 crore
(ii) Marginal Propensity to Save (MPS) = 0.2
(iii) Autonomous Consumption (c) = 100 crore
15. “Open Market Operation by the Reserve Bank of India (RBI) helps in regulating money supply in the economy.” Justify the given statement.
16. (a) (i) Distinguish between Revenue Receipts and Capital Receipts of the government, with suitable example.
(ii) “Under the Production Linked Incentive scheme, the Government of India offers various benefits like reduced import-export duties, incentives to investors, tax-rebates etc.” In the light of above statement, identify and explain the Budget objective and its likely consequences.
(b) (i) “Under ‘Zero Defect Zero Effect’ (ZED) scheme, the government of India provides up to 80% subsidy to Micro, Medium Enterprises (MSMEs).” Identify and explain the objective of government budget, highlighted in the above text.
(ii) Distinguish between Tax Revenue and Non-tax Revenue, with suitable examples.
17. (a) As per The Economic Times report, dated April 11, 2023 “Electric Vehicle sales cross 10 Lakh mark in financial year 2022-23.” Analyse the likely impacts of this news on Gross Domestic Product (GDP) and Welfare.
(b) Discuss briefly, the circular flow of income in a two sector economy model.
SECTION-B
(Indian Economic Development)
18. After independence, the rationale behind choosing Modernization as a planning objectives for the Indian economy were
I. To bring positive changes in the social outlook
II. Equitable distribution of income
III. Technological Upgradation
IV. Increase in Economic Divide Alternatives:
(A) I and II
(B) II and III
(C) I and III
(D) I and IV
19. Study the following picture:
Identify the kind of activities, which may be envisaged under ___________ as diversification activity. (Fill up the blank with correct alternative.)
Alternatives:
(A) Animal Husbandry
(B) Fisheries
(C) Horticulture
(D) Organic farming
For Visually Impaired Candidates:
farming is a system that is helpful in restoring, maintaining and enhancing the ecological balance. (Choose the correct alternative to fill in the blank.)
(A) Multi layered
(B) Chemical
(C) Organic
(D) Conventional
20. Read the following statements:
Assertion (A) and Reason (R). Choose the correct alternative from those given below:
Assertion (A): India could not develop a sound Industrial-base during the British rule.
Reason (R): Britishers followed restrictive trade policies which strengthened Indian handicraft industries.
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
CBSE Class 12 Economics Exam Analysis 2024
All the students who appeared for the Class 12 Economics Exam 2024, can check the live CBSE Class 12 Exam Analysis 2024 by Adda247.
Class 12 Economics Question Paper 2024
The CBSE Class 12th Economics Exam 2024 was successfully conducted today i.e., March 18, 2024 from 01:30 pm in the afternoon. These question papers will help the students preparing to appear in the class 12th exams next year to provide an overview of the question paper, and the types of questions asked in the examination. They also give an overview of papers to students preparing to appear in the class 12th exams next year of the types. In order to download the CBSE Class 12th Economics Question Paper 2024 PDF, the direct link will be updated below.
CBSE Class 12 Economics Answer Key 2024 PDF Download
As the exam is successfully conducted, students must be looking for the Class 12th Economics Answer Key 2024 for the CBSE Exam, so it is to inform them that they can check the answer key from the link that will be shared below. So students can check the answer key that our subject expert’s faculty will release the specially designed unofficial answer key for the questions that will be asked in the CBSE Class 12th Economics Exam 2024. The CBSE Class 12 Economics Answer Key 2024 PDF can easily be downloaded from the direct link that will be shared here.