CBSE Class 12 Exam Economics Analysis, Review & Question Paper with Answer Key 2023

CBSE Class 12 Exam Economics Analysis, Review & Question Paper with Answer Key 2023 Download pdf here.

March 17, 2023

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On Friday, 17 March 2023, the CBSE Board conducted Class 12 Economics board exam 2023 from 10.30 AM to 1.30 PM. In this webpost, we have provided the class 12 CBSE Economics board exam 2023 question paper analysis by students and experts, download the link to the question paper PDF and the answer key for the paper.

CBSE Class 12th Economics Question Paper With Answer Key – Set – 2 – 58/5/2

CBSE Class 12 Economics Paper Review 2023

The students emerging out of the examination centres all felt that the question paper was moderately difficult. The questions were from the syllabus but not completely direct. They required good conceptual knowledge and a grasp of the subject matter.

Type of Questions asked in Today’s Economics Exam

The CBSE Class 12 Economics exam 2023 was for 80 marks, to be attempted within 3 hours.

CBSE Class 12 Economics 2023 question paper contained two sections:

Section A – Macro Economics
Section B – Indian Economic Development

20 Multiple Choice Questions type questions of 1 mark each.
4 Short Answer Questions type questions of 3 marks.
6 Short Answer Questions type questions of 4 marks each.
4 Long Answer Questions type questions of 6 marks each.

Section-wise Class 12 CBSE Economics Question Paper Review

While some students found Macroeconomics easier, some felt that the Microeconomics section was easier and quicker to solve.

There was some confusion in a few Multiple Choice Questions type questions.
Short Answer Questions type questions of 3 marks each were to be answered in 60 to 80 words.
Short Answer Questions type questions of 4 marks each were to be answered in 80 to 100 words.
Long Answer Questions type questions of 6 marks each had to be answered in 100 to 150 words.

Challenging Areas in Economics Questions

According to the students, numerical questions felt a bit tough to solve. For both sections, the questions related to graphs, equations and numericals required good focus and concept knowledge.

CBSE Class 12 Economics Paper Answer Key 2023

Section – A (Macro Economics)

1. “Considering the depreciation of Indian Currency (₹) in the international market, the Reserve Bank of India (RBI) has decided to purchase Indian currency (₹) in the open market.” This represents______ exchange rate system

(a) fixed

(b) flexible

(d) manipulated

Answer: (b) flexible

2. ‘Money is an asset which can be stored for use in future.”‘

In the light of given statement, identify the function of money.

(Choose the correct alternative)

(a) A measure of value

(b) A standard of deferred payment

(d) A medium of Exchange

Answer: (d) A medium of Exchange

3. (A) From the statements given in Column I and Column II, choose the correct pair.

	Column I		Column II
A	Vegetables grown in the Personal garden	i	Non marketing activity
B	A car used as a taxi	ii	Consumer good
C	An air-conditioner used by household	iii	Capital good
D	Scholarship given to students by	iv	Factor income

Alternatives:

(a) A-(i)

(b) B-(ii)

(d) D-(iv)

Answer: (a) A-(i)

(B) Complete the table:

Alternatives:

(a) 4000, 10400, 4000, 4000

(b) 4000, 10400, 4000, 4400

(d) 4000, 10400, 6000, 4000

Answer:

4. Read the following statements carefully:

Statement 1: In a two sector economy, consumption expenditure and investment expenditure are the two components of Aggregate Demand.

Statement 2: Aggregate demand curve always start from point of origin with positive slope.

In the light of 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.

(d) Both statements 1 and 2 are false.

Answer:

5. ‘Deficit’ in Balance of Payment (BOP) refers to the excess of (Choose the correct alternative)

(a) Current account payments over Current account receipts.

(b) Capital account payments over Capital account receipts

(d) Accommodating payments over Accommodating receipts

Answer:

6. (A) Suppose, the price of one UK Pound (£) has increased from ₹70 to ₹80, owing to market forces. This means that value of Indian Currency (₹) has _________

(Choose the correct alternative)

(a) appreciated

(b) depreciated

(d) devaluedj

Answer:

(B) Suppose, Country X, has more inflation than Country Y. Which of the following is most likely situation to happen in such a case, assuming other factors being constant ? (Choose the correct alternative)

(a) A surplus trade balance in Country X

(b) A deficit trade balance for Country X

(d) A deficit trade balance for Country Y

Answer:

7. (A) If in an economy, the Investment Multiplier is 4 and Autonomous Consumption is ₹30 crore, the relevant consumption function would be _____(Fill up the blank with correct alternative)

(a) C=30+ 0.75 Y

(b) C=(-) 30+ 0.25 Y

(d) C=(-) 30-0.25 Y

Answer:

(B) If increase in National Income is equal to increase in Savings, the value of Marginal Propensity to Consume would be ______(Fill up the blank with correct alternative)

(a) equal to unity

(b) greater than one

(d) equal to zero

Answer:

8. In an economy, the value of Marginal Propensity to Save (MPS) is 0.25, what will be the value of increase in income, if investments increased by ₹200 crores

(a) ₹200 crores

(b) ₹150 crores

(d) ₹800 crores

Answer:

9. Read the following statements carefully:

Statement 1: Money supply (M,) in India does not include ‘demand deposits’ with commercial banks.

Statement 2: Money supply (M,) refers to, assets available with the Commercial Banks during a particular period of time.

In the light of the given statements, choose the correct alternative.

(a) Statement 1 is true and Statement 2 is false.

(b) Statement 1 is false and Statement 2 is true.

(d) Both statements 1 and 2 are false.

Answer: