CBSE Class 12 Economics 2023
132 questions · 351 marks · every one with the board’s own marking-scheme answer.
What 2023 actually asked, chapter by chapter
Marks we counted in the 2023 papers themselves. CBSE allocates marks per unit, not per chapter — this is what was observed, not an official CBSE weightage.
| Chapter | Marks | Share |
|---|---|---|
| National Income Accounting19 questions | 70 | 19.9% |
| Determination of Income and Employment21 questions | 48 | 13.7% |
| Money and Banking14 questions | 35 | 10.0% |
| Comparative Development Experiences of India and its Neighbours18 questions | 33 | 9.4% |
| Rural Development12 questions | 32 | 9.1% |
| Employment: Growth, Informalisation and Other Issues9 questions | 26 | 7.4% |
| Indian Economy 1950-19907 questions | 25 | 7.1% |
| Government Budget and the Economy4 questions | 24 | 6.8% |
| Human Capital Formation in India7 questions | 18 | 5.1% |
| Open Economy Macroeconomics11 questions | 17 | 4.8% |
| Environment and Sustainable Development5 questions | 9 | 2.6% |
| Liberalisation, Privatisation and Globalisation: An Appraisal2 questions | 8 | 2.3% |
| Indian Economy on the Eve of Independence3 questions | 6 | 1.7% |
All 132 questions from 2023
- Q1Read the following statements carefully: Statement 1: Primary deposits are the cash deposits by general public with…1 mkasked 3×
- Q1Read the following statements carefully: Statement 1: Investment is defined as addition to the physical capital and…1 mkasked 3×
- Q1Read the following statements carefully: Statement 1: Savings function can be derived from Consumption function.…1 mkasked 3×
- Q2An Indian company receives a loan from a company located abroad. This transaction would be recorded on the side of…1 mkasked 3×
- Q2The difference between National Income at market price and National Income at factor cost is. (Choose the correct…1 mkasked 3×
- Q2Keeping other factors constant, if the price of crude oil falls in the international market, it may lead to. (Choose…1 mkasked 3×
- Q3Identify, which of the following is not a function of the Reserve Bank of India. (Choose the correct alternative)1 mkasked 3×
- Q3The rate at which commercial banks borrow from the Reserve Bank of India to meet their long term requirements is known…1 mkasked 3×
- Q3The Reserve Bank of India (RBI) government securities in a bid to the stock of money in the economy. (Choose the…1 mkasked 3×
- Q4Read the following statements carefully: Statement 1: Balance of Payment account is always balanced in accounting…1 mkasked 3×
- Q4Read the following statements carefully: Statement 1: Borrowings by a nation from the World Bank to finance Balance of…1 mkasked 3×
- Q4Read the following statements carefully: Statement 1: Import of gold from Dubai will be recorded on the debit side of…1 mkasked 3×
- Q5(i) Read the following statements carefully: Statement 1: Stock variables are measured at a point of time. Statement 2:…1 mkasked 3×
- Q5Read the following news report carefully: “The central bank has imposed fine on Hisar Urban Cooperative Bank Ltd. and…1 mkasked 3×
- Q5Choose the correct alternative to fill in the blanks (i) and (ii) in the figure. Alternatives: OR Operating Surplus…1 mkasked 2×
- Q6If the Marginal Propensity to Save (MPS) is 0·5, what will be the value of investment multiplier? (Choose the correct…1 mkasked 3×
- Q6(i) If in an economy, the value of Investment Multiplier is 5 and dissavings are (–)100 crore, the relevant savings at…1 mkasked 3×
- Q6If the value of investment multiplier = 4 and Dissavings = (–) 60, identify the correct Saving function from the…1 mkasked 3×
- Q7If the central bank wants to reduce money supply in the economy, it may. (Choose the correct alternative to fill up the…1 mkasked 3×
- Q7Choose the correct alternative to fill in the blanks (i) and (ii) in the figure. Alternatives: OR Operating Surplus…1 mk
- Q7Read the following statements: Assertion and Reason (R). Choose the correct alternative given below: Assertion: Before…1 mkasked 3×
- Q7Demand Deposits include. (Choose the correct alternative to fill up the blank)1 mkasked 3×
- Q8Read the following statements carefully: Statement 1: Depreciation of domestic currency may lead to a rise in exports.…1 mkasked 3×
- Q8Identify, which of the following is not a source of supply of foreign exchange for India. (Choose the correct…1 mkasked 3×
- Q8Suppose that, the Balance of Trade of a nation exhibits a deficit of ₹ 50,000 crore. The import of visible items are…1 mkasked 3×
- Q9Identify which of the following equations is true. (Choose the correct alternative)1 mkasked 3×
- Q9Read the following statements: Assertion and Reason (R). Choose the correct alternative given below. Assertion: Excess…1 mkasked 3×
- Q9Read the following statements: Assertion and Reason (R). Choose the correct alternative from those given below.…1 mkasked 3×
- Q10A situation in which an able bodied person is not willing to work at the existing wage rate, is referred to as…1 mkasked 3×
- Q10Read the following statements: Assertion and Reason (R). Choose the correct alternative given below. Assertion: Rich…1 mkasked 3×
- Q10Read the following statements: Assertion and Reason (R). Choose the correct alternative from those given below.…1 mkasked 3×
- Q11Discuss briefly, the concept of ‘Mixed Income of Self-Employed’ under the Income method. OR Defend or refute the…3 mk
- Q11Distinguish between ‘Value Addition’ and ‘Final Value of Output’. OR Find Net Value Added at Factor Cost (NVA FC )…3 mk
- Q11Distinguish between ‘Value Addition’ and ‘Final Value of Output’. OR Find the Value Added by Firm A, from the following…3 mkasked 2×
- Q11Differentiate between ‘Value of Output’ and ‘Value Added’. OR Justify the following statement: “Depreciation is a fall…3 mk
- Q11Suppose, the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ 1,100 crore. Net…3 mk
- Q11Suppose the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ 1,500 crore. Net…3 mk
- Q12Discuss briefly the determination of exchange rate under the flexible exchange rate system.3 mkasked 3×
- Q12“There exists a positive relation between foreign exchange rate and supply of foreign exchange.” Do you agree with the…3 mkasked 3×
- Q12"The central bank needs to intervene under the managed floating system." Do you agree with the given statement? Support…3 mkasked 3×
- Q12Suppose the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ 1,200 crore. Net…3 mk
- Q12Discuss briefly the three components of ‘operating surplus’. OR Defend or refute the following statement, with valid…3 mk
- Q13Suppose the following information is given about a hypothetical economy: C = 100 + 0.75 Y (where, C = Consumption and Y…4 mk
- Q13Explain the ‘Government’s Bank’ function of the central bank. OR Using a hypothetical numerical example, explain the…4 mk
- Q13Suppose consumption function for an economy is C = 80 + 0.75 Y (where C = consumption function and Y = national income)…4 mk
- Q13“In an economy, an increase in investment leads to doubling of the national income.” Calculate the Marginal Propensity…4 mk
- Q13Describe the adjustment mechanism if Aggregate Demand (AD) is less than Aggregate Supply (AS).4 mk
- Q13Describe the adjustment mechanism, if ex-ante savings are less than ex-ante investments.4 mkasked 2×
- Q14Read the following information carefully: “The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI),…4 mkasked 3×
- Q14Discuss briefly, how the government can control the situation of deflation using the following: Taxation Policy…4 mkasked 3×
- Q14Explain the ‘Government’s Bank’ function of the central bank. OR Using a hypothetical numerical example, explain the…4 mk
- Q14Read the following news published on September 26, 2022: “The central bank has increased the benchmark lending rate by…4 mkasked 3×
- Q14An economy is in equilibrium. From the following data, calculate the value of Autonomous Consumption. National Income =…4 mk
- Q15Explain the ‘Government’s Bank’ function of the central bank. OR Using a hypothetical numerical example, explain the…4 mk
- Q15Suppose the following information is given about a hypothetical economy: C = 200 + 0.75 Y (where, C = Consumption and Y…4 mk
- Q15Using a suitable numerical example, explain the credit creation process of the banking system, in a hypothetical…4 mkasked 3×
- Q15Suppose the following information is given about a hypothetical economy: C = 300 + 0·8 Y (where, C = Consumption and Y…4 mk
- Q15Read the following text carefully: "After setting up a working group to study the possibility of a Central Bank Digital…4 mkasked 3×
- Q16"Machine purchased by a firm is always a capital good." Do you agree with the given statement? Give valid reasons for…6 mk
- Q16State the meaning of: Problem of Double Counting Operating Surplus Compensation of Employees6 mk
- Q16Should purchase of wheat in the wholesale market be treated as the purchase of intermediate goods? Increase in national…6 mk
- Q16(i) Two friends, Deepak and Krish were discussing the impact of increase in GST rates on luxury items, as recently…6 mk
- Q16(i) “In the recent times, the Government of India has incurred a lot of expenditure on acquisition of indigenous…6 mkasked 2×
- Q16“National Income is always greater than Domestic Income.” Do you agree with the given statement? Support your answer…6 mk
- Q17State the meanings of: Economic territory Mixed income of self-employed Compensation of employees6 mk
- Q17Read the following text carefully: In India, after Covid-19 period, household and private sector consumption, as…6 mkasked 3×
- Q17(i) "Government provides essential items like food grains almost free to the families below poverty line." Identify and…6 mkasked 3×
- Q17(i) From the information given in the diagram, categorize the items into revenue receipts and capital receipts, stating…6 mkasked 3×
- Q17“In the estimation of Gross Domestic Product (GDP) using expenditure method, focus lies only on expenditure by the…6 mk
- Q18Read the following statements: Assertion and Reason (R). Choose the correct alternative from those given below.…1 mkasked 3×
- Q18Under the British Rule, commercialisation of agriculture resulted in shifting of agricultural production from crops to…1 mkasked 3×
- Q18Read the following statements carefully: Statement 1: Commercialization of agriculture under the British rule was…1 mkasked 3×
- Q19From the following alternatives, identify the correct full form of ‘NITI’ in NITI Aayog: OR In a economy, resources are…1 mkasked 3×
- Q19Read the following statements carefully: Statement 1: The purchase of food grains made by the Government on the Minimum…1 mkasked 3×
- Q19Identify, which of the following alternative is not associated with goals of economic planning in India. OR In 1951,…1 mkasked 3×
- Q20Economic reforms were introduced in the year in India and in the year in Pakistan. (Choose the correct alternative to…1 mkasked 3×
- Q20Identify the correct alternative with reference to the following statement: “Between 1966 – 76, Mao introduced this…1 mkasked 3×
- Q20Mini-hydel plants are good for the environment because: (i) they generate electricity only for local areas. (ii) they…1 mkasked 3×
- Q21The Great Leap Forward (GLF) campaign in China focused on. (Choose the correct alternative to fill up the blank) OR…1 mkasked 3×
- Q21“Multiple reasons for economic slowdown and re-emergence of poverty in Pakistan may be enumerated.” Identify which of…1 mkasked 2×
- Q21markets were organised to protect the farmers from malpractices in mandis. (Choose the correct alternative to fill up…1 mkasked 3×
- Q21‘Skill India’ programme launched by the Government is not an attempt to increase in India. (Choose the correct…1 mk
- Q21Micro credit programmes play a vital role in ensuring an overall development of the rural economy as they. (Choose the…1 mkasked 3×
- Q22“Multiple reasons for economic slowdown and re-emergence of poverty in Pakistan may be enumerated.” Identify which of…1 mk
- Q22‘Skill India’ programme launched by the Government is not an attempt to increase in India. (Choose the correct…1 mkasked 2×
- Q22Arrange the following events of China in chronological order and choose the correct alternative: (i) Great Proletarian…1 mkasked 3×
- Q23Identify which of the following does not reflect a direct relationship between human capital formation and economic…1 mkasked 3×
- Q23Identify the correct alternative with reference to the following statement: “Between 1966 – 76, Mao introduced this…1 mkasked 3×
- Q23Read the following statements carefully: Statement 1: Economic growth means the increase in real national income of a…1 mkasked 3×
- Q24Read the following statements carefully: Statement 1: ‘Liberty indicators’ measure the extent of constitutional…1 mkasked 3×
- Q24Read the following statements carefully: Statement 1: In both India and Pakistan, the service sector has been emerging…1 mkasked 3×
- Q24Read the following statements: Assertion and Reason (R). Choose the correct alternative from those given below.…1 mkasked 3×
- Q25adopted the resolution to ban the use of Chlorofluorocarbon (CFC) compounds along with other ozone depleting chemicals.…1 mkasked 3×
- Q25Workers who are on the permanent pay-roll of their employer are called workers. (Choose the correct alternative to fill…1 mkasked 3×
- Q25Carrying Capacity implies that. (i) Resource extraction should remain below the rate of regeneration. (ii) Resource…1 mkasked 3×
- Q26Production of diverse varieties of crops rather than one specialized crop is called. (Choose the correct alternative to…1 mkasked 3×
- Q26Read the following statements: Assertion and Reason (R). Choose the correct alternative given below. Assertion: The…1 mkasked 3×
- Q26Read the following statements: Assertion and Reason (R). Choose the correct alternative from those given below.…1 mkasked 3×
- Q27Read the following statements: Assertion and Reason (R). Choose the correct alternative given below. Assertion: China…1 mkasked 3×
- Q27Read the following statements carefully: Statement 1: India announced its First Five Year Plan in 1951. Statement 2:…1 mkasked 3×
- Q27Read the following statements carefully: Statement 1: ‘One-child policy’ was very effectively used in controlling the…1 mkasked 3×
- Q28Interpret the given picture with reference to current environmental challenges.3 mkasked 3×
- Q28Define worker-population ratio and give its significance. OR Distinguish between ‘Human Capital’ and ‘Human…3 mkasked 3×
- Q28“It is necessary to create employment in the formal sector rather than in the informal sector.” Defend or refute the…3 mk
- Q28“A well-structured agricultural credit system is very essential for the rural sector.” Do you agree with the given…3 mk
- Q28Interpret the given picture, on account of current environmental challenges:3 mkasked 3×
- Q29Explain the position of informal institutions as a source of credit in rural India. OR “Dr. Khurana, a dentist, ran his…3 mk
- Q29Discuss any two problems being faced in the process of rural banking in India. OR Analyse and compare the nature of the…3 mk
- Q29Critically evaluate the role of rural banking system in the process of rural development in India. OR “Dr. Khurana, a…3 mk
- Q29Elaborate how a well-structured ‘Agricultural Marketing System’ helps the farmers to increase their income.3 mkasked 2×
- Q29“It is necessary to create employment in the formal sector rather than in the informal sector.” Defend or refute the…3 mk
- Q29Critically evaluate the role of rural banking system in the process of rural development in India. OR “Dr. Khurana, a…3 mk
- Q30Read the following schedule carefully: Trends in Output Growth in Different Sectors, 1980 – 2015 Country Agriculture…4 mk
- Q30From the data given below, compare and contrast India’s and China’s sectoral contribution towards GVA / GDP. Sectoral…4 mkasked 3×
- Q30Explain valid reasons for the slow growth and re-emergence of poverty in Pakistan.4 mkasked 2×
- Q30“Human Capital benefits only the owner and not the society.” Defend or refute the given statement.4 mk
- Q31“Many economists believe that the economic reforms process of 1991 had adversely affected the agricultural sector.” Do…4 mkasked 3×
- Q31Explain briefly the rationale behind the ‘License Raj’ under the Industrial Policy Resolution, 1956. Define…4 mkasked 2×
- Q31Discuss any two liberalisation measures pertaining to the financial sector, introduced by the Government of India…4 mkasked 3×
- Q31Read the following schedule carefully: Trends in Output Growth in Different Sectors, 1980 – 2015 Country Agriculture…4 mkasked 2×
- Q32Compare and contrast India and China’s sectoral contribution towards Gross Value Added (GVA). What does it indicate?…4 mk
- Q32State whether the following statements are true/false, with valid arguments: Economic participation of women as…4 mkasked 3×
- Q32State and explain the condition of Indian agriculture on the eve of independence.4 mk
- Q32“There are many factors which contribute to human capital formation of a country.” Do you agree with the statement?…4 mk
- Q32State and elaborate whether the following statement is true or false, with valid arguments: “Indian economy has showed…4 mkasked 3×
- Q32“Self-Help Groups provide stimulus for institutionalised lending, employment generation and women empowerment in the…4 mk
- Q33(i) Why are less women found in regular salaried employment? (ii) Distinguish between human capital and physical…6 mkasked 3×
- Q33(i) Explain the role of education in the economic development of the nation. (ii) State the importance of rural banking…6 mkasked 3×
- Q33Read the following text carefully: Adoption of Village by Parliamentarians In October, 2014, the Government of India…6 mkasked 3×
- Q34Read the following text carefully: According to NITI Aayog, India has a technological advantage to facilitate digital…6 mkasked 3×
- Q34Read the following text carefully: With independence, India chose the closed economy model in pursuit of its objective…6 mkasked 3×
- Q34(i) Explain the need and types of land reforms implemented in the agriculture sector. (ii) Why was public sector given…6 mkasked 3×
Other Economics years
Answers come from CBSE’s own marking schemes. How we source them.