ISC Class XII 2025
Class 12 · Economics
Refer to the diagram given below and choose the correct statement.
1 markMCQ
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47 questions
- ISC Class XII 2025
Class 12 · Economics
Factor income received from rest of the world 15
ORShort answer
- ISC Class XII 2025
Class 12 · Economics
Suppose the total receipts are `1045 Cr. and total payments are `1526 Cr. in the Balance of Payments
account of India.
In the above context, which one of the following can improve the Balance of Payments of India?1 markMCQ
- ISC Class XII 2025
Class 12 · Economics
Monopolistic competition is a blend of perfect competition and monopoly. Discuss the statement by
giving two reasons.Short answer
- ISC Class XII 2025
Class 12 · Economics
Discuss the problem of double counting with the help of an example. How can it be solved?
4 marksLong answer
- ISC Class XII 2025
Class 12 · Economics
Ibrahim works as a mechanic and earns `5000 per month. To increase his family income, his wife and
parents also begin to work. Over a period of time when his income increases to `20,000, Ibrahim asks his
family members not to work and enjoy leisure.
The phenomenon indicated in this situation does not conform to the Law of Supply. Give a reason to
support this statement. Draw the supply curve based on the given situation.2 marksDiagram based
- ISC Class XII 2025
Class 12 · Economics
The Indian rupee fell 14 paisa to 83.91 against the US dollar on Wednesday amid outflow of foreign
capital and volatile domestic equity markets.
(Source(edited): The Pioneer, New Delhi, August 22, 2024)
The above situation would lead to a surplus in Balance of Payments account of India. Defend or refute
the statement by giving a reason.2 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
Study the schedule given below and explain the relation between Average Revenue and Marginal
Revenue by giving a suitable reason.
Units Price TR AR MR
1 15 15 15 15
2 14 28 14 13
3 13 39 13 112 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
With reference to government budget, classify the following as Revenue receipt or Capital receipt. Give
a valid reason for each.
(a) Financial help from a Multinational Corporation (MNC) for victims in a flood affected area.
(b) Sale of shares of a Public Sector Undertaking (PSU) to a private company.2 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
Budget 2024 outlined the sources of government revenue which comprised 19% from Income Tax, 18%
from Goods and Service Tax and the remaining from borrowings.
(Source (edited): Business Standard, New Delhi)
Categorise the two types of taxes mentioned above. State any one difference between them.2 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
How do Total Product, Average Product and Marginal Product behave under the Law of Increasing
Returns to a Factor? Briefly explain one reason for the operation of this law.2 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
The main occupation of the villagers in a village is beekeeping. The villagers sell their produce only to
firm X.
(a) Identify the type of market prevalent here.
(b) Is it a buyer’s market or a seller’s market? Give a reason.2 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
Laxman & Sons is a leading producer of perfume among many other firms. Recently, it introduced a new
fragrance and offered gift vouchers to the customers who bought this product.
Identify the form of market and explain the feature implied in this situation.2 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
Which one of the following scenarios correctly represents a Degressive tax system?
1 markMCQ
- ISC Class XII 2025
Class 12 · Economics
Explain any two important features of the market form referred to in the passage.
2 marksShort answer
- ISC Class XII 2025
Class 12 · Economics
Law of Variable Proportions is NOT applicable when:
1 markMCQ
- ISC Class XII 2025
Class 12 · Economics
Calculate GDPMP and National Income from the following information.
S.No. Items `(in crores)4 marksMCQ
- ISC Class XII 2025
Class 12 · Economics
Net factor income from abroad (-) 30
(j) Consumption of fixed capital 120Short answer
- ISC Class XII 2025
Class 12 · Economics
Identify the correct statement with reference to the measures of money supply.
1 markMCQ
- ISC Class XII 2025
Class 12 · Economics
Briefly discuss the nature of demand curve in this form of market.
2 marksShort answer