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CBSE Class 12 Pre Board 2021 : Economics (Kendriya Vidyalaya (KV) No 1, Armapur, Kanpur)

6 pages, 73 questions, 2 questions with responses, 2 total responses,

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KENDRIYA VIDYALAYA NO. 1 ARMAPUR KANPUR FIRST PRE BOARD Examination - 2020-21 Time Subject - Economics Class - XII 3 Hours M.M.- 80 General Instruction : 1. This question paper contains two parts : Part A - Macro Economics (40 marks) Part B - Indian Economics Development (40 marks) 2. Marks for questions are indicated against each question. 3. Question No. 1-10 and Question No. 18-27 (including two case based questions) are 1 mark questions and are to be answered in one word/sentence. 4. Case based questions (BQ's are Question 7-10 and Question No. 24-27. 5. Question No. 11-12 and 28-29 are 3 marks question and are to be answered in 6080 words each. 6. Question No. 13-15 and Question No. 30-32 are 4 marks questions and are to be answered in 80-100 words each. 7. Question No. 16-17 and Question No. 33-34 are 6 marks questions and are to be answered in 100-150 words each. 8. Answer should be brief and to be point and the word limit be adhered to as far as possible. (PART A : MACRO ECONOMICS) 1. Study of general price level is a subject matter of : 1 (a) Macroeconomics (b) macroeconomics (c) both (a) and (b) (d) none of these Or Income of the family is the example of which variable 2. 3. (a) stock (b) flow (c) Both stock and flow (d) none of these Which of the following is not a transfer payment? 1 (a) Interest on national debt (b) Retirement pensions (c) Old-age pensions (d) donations Supply of money is a : (a) flow variable (b) stock variable (c) real flow (d) none of these 4. Recovery of loan is a .......... receipt. (Revenue/Capital) 5. .............. leads to a rise in supply of foreign currency. (Devaluation/Revaluation)1 XII - Economics (1) 1 P.T.O. 6. From the set of statements given in column I and column II, choose the correct pair of statements : 1 Column I Column II (b) Revenue Expenditure Rate of tax decrease with an increase in income (ii) Impacts asset-liability status of the (c) Wealth tax government (iii) An Indirect tax (a) Progressive tax (d) Revenue deficit (i) (iv) Revenue Expenditure-Revenue receipts (v) Private goods (e) Defence of the country Read the following news report and answer question 7-10 on the basis of the same : The Reserve Bank of India (RBI), cut Repo Rate to 4.4%, the lowest in at least 15 years. Also it reduced the Cash Reserve Ratio (CRR) maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release 1.37 lakh crores across the banking system. RBI governor Dr. Shakti Kant Das predicited a big global recession and said India will not be immune. It all depends how India responds to the situation Aggregate demand may weaken and ease core inflation. ( The Economic Time : March 27th2020 ) 7. 8. 9. Cut in Repo rate by RBI is likely to _______ the demand for goods and services in the economy. (Increase/decrease) 1 Decrease in Cash Reserve Ratio will lead to ............... . 1 (a) fall in aggregate demand (b) rise in aggregate demand (c) No change in aggregate demands (d) fall in general price level. The differences by which actual Aggregate Demad exceeds the Aggregate Demad required to establish full employment equilibrium is know as _____. (inflationary gap/deflationary gap) 1 10. The impact of "Excess Demand" under key nesian theory of income and employment in an economy are : 1 (a) decrease in income output, employment and general price level. (b) decrease in nominal income, but not change in real output. (c) increase in income, output employment and general price level (d) no change in output/employment but increase in general price level 11. "Gross Domestic Product (GDP) growth is not a guarantee for economic welfare" Explain with reason. XII - Economics 3 (2) P.T.O. 12. Find Net Value Added at factor cost : Items (i) Sales (ii) Closing stock (iii) Excise (iv) Opening Stock (v) Depreciation (vi) Intermediate Consumption 3 in Lakh 100 20 15 10 12 50 Or 520 and Nominal GDP is 13. 14. 15. 16. 17. 650, Calculate the price index If the Real GDP is (base = 100). An economy is in equilibrium. From the following data, calculate investment expenditure : 4 (i) Marginal Propensity to consume = 0.9 (ii) Autonomous consumption = 200 (iii) Level of income = 10,000 With the help of suitable diagram derive saving curve from consumption curve. State the steps taken in the process of derivation. 4 Differentiate between Revenue Receipts and Capital Receipts. Write two examples of each. 4 Or What are the components of Net Factor Income from Abroad. Explain the following : 6 (i) Revenue Deficit (ii) Fiscal Deficit (iii) Primary Deficit Or List three items each of Current Account and Capital Account of each of the balance of payments account. Given the following data. Find the missing value of "Private Final Consumption. Expenditure' and 'Operating Surplus : 6 in Lakh Items (i) National income 50,000 (ii) Net indirect taxes 1,000 (iii) Private final consumption expenditure ? (iv) Gross domestic capital formation 17,000 (v) Profits 1,000 (vi) Government final consumption expenditure 12,500 (vii) Wages and Salaries 20,000 (viii) Consumption of fixed capital 700 (ix) Mixed income of self-employed (x) 13,000 Operating surplus ? (xi) Net factor income from abroad 500 (xii) Net exports XII - Economics 2,000 (3) P.T.O. (PART - B : Indian Economic Development) 18. Which was the last five year plan in India? 1 (a) Eleventh Plan (b) Twelth Plan (c) Thirteenth Plan (d) Fourteenth Plan 19. India entered the ......... stage of Demographic Transition after the year 1921. (a) fourth (b) Second (c) Third (d) First 1 20. Read the following statements : Assertion (A) and Reason (R). Choose one of the correct alternatives given below : 1 Assertion (A) : India became an exporter of primary products and an importer of finished consumer and capital goods produced in Britain. Reason (R) : Restrictive Policies of commodies production, trade and tariff pusued by the colonial government adversely affected the structure, composition and volume of India's foreign trade. 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 and 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. 21. Identify the correct sequence of alternatives given in Column II by matching them with Column I. 1 Column I Column II A. Planning Commission (i) 1956 B. NITI Aayog (ii) 1982 C. NABARD (iii) 1950 D. Second five year plan (iv) 2015 22. Out sourcing is an off-shoot of ______ . (Liberalisation/globalisation) 1 23. "One country one tax" slogan is given for which tax? 1 Or On what basis 'Poverty Line' in India is determined? Read the following hypothetical case study, carefully and answer the question number 24-27 on the basis of the same. Since ages, farmers in India have taken resource to debt. In the earlier times the same was from informal sources. Since independence with the efforts of the government, formal sector has actively come into picture. Farmers borrow not only to meet their investment needs but also to satisfy their personal needs, XII - Economics (4) P.T.O. uncertainty of income caused by factors like crop failure caused by irregular rainfall, reduction in ground water table, locust / other pest attack etc. These reasons push them into the clutches of the private money lenders who charge exorbitant rates of interest which add to their miseries. Various government in India, at different times for different reasons introduced debt relief /waiver schemes. These schemes are used by governments as a quick means to extricate farmers from their indebtedness, helping to resotre their capacity to invest and produce, in short to lesson the miseries of the farmers across India. The costs and benefits of such debt relief schemes are however, a widely debated topic among economists. Some economists argue that such schemes are extremely beneficial to the poor and marginalised farmers while other argue that these schemes add to the fiscal burden of the government, other believe that these scheme may develop the expectation of repeated bail outs among farmers which may spoil the credit culture among farmers. 24. Uncertainty of income for farmers in India is majorly caused by ______. (irregular rainfall/unavailability of loans) 25. Some economists argue that debt waiver schemes we extremely beneficial to the poor and marginalised farmers as these schemes reduce the burden of ______. (indebtedness/personal expenditure) 26. The rural banking structure in India consists of a set of multi-agency institutions ______ 1 (RegionalRural Banks/Small Industries Development Bank of India) is expected to dispense credit at cheaper rates for agricultural purpose to farmers. 27. __________ (Regional Rural Banks / Land Development Banks) is the most prominent body responsible for providing loans for long term land development. 1 28. "Since past few years National Capital New Delhi is facing severe environmental crises. What are the reason responsible for this situation? Suggest few measures to tackle the problem. 3 Or How Railways moderated the impact of famines during the colonial period? 29. Explain any three long period goals of planning and did it benefit the farmers? 3 30. What is Green Revolution? Why was it implemented and did it benefit the farmers? 31. Write short note on Demonetisation in India. 4 32. Compare and analyses the given data of India and China with valid argument. 4 Demographic Indicators 2011 Country India China Estimated Annual Population Growth of (in million) population 2001-2011 1210 1.76 1339 0.47 Density per sq. km. 382 143 Sex Ratio (No. women per thousand men) 940 950 Urbanisation 31.2 51.3 Source : Census 2011, HDR 2012 and World Bank XII - Economics (5) P.T.O. Or "Atamnirbhor Bharat' had been the roots of the Indian Planning Process in the form of 'Self reliance' as an objective of Planning Process. Do you agree with the given statement? Justify the rational of the given statement. 33. Explain any six Property Alleviation Programmes adopted by government. 6 34. What is meant by globalisation of the economy? State the measures adopted by the government to promote globalisation. Or Read the following statements carefully. Write true and false with reason. (i) Women in rural areas are ready to work even at low wages why? (ii) "Skill India" programme launched by the government is an attempt to increase human capital formation. (iii) Zamindari system of land revenue gave incentives to tillers of soil to increase their productivity. XII - Economics (6) P.T.O.

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