ISC Economics Specimen Paper 2023-2024 for Class 12: Here, students can find ISC Sample Paper for Class 12 Economics, for the current academic session 2023-2024. A PDF download link for the same has also been made available for future reference. This sample paper is useful for students appearing in ISC Board Exams 2024. They must have a look at this specimen paper before they step ahead in their academic journey.
Every year, the official education board releases a sample paper designed as per the latest syllabus and curriculum. Specimen Paper for Class 12 Economics is presented here. You can find attached links to sample papers on other subjects as well. Sample Papers are an essential resource for the preparation of Board exams because they are a blueprint of question papers. It reveals the exam pattern, types of questions, number of questions, and marks weightage for each chapter, through which students can prepare accordingly.
ISC Class 12 Economics Exam Pattern 2024
Here, ISC Class 12 Economics exam pattern 2024 has been provided to you below. Students should check the question paper pattern to be aware of the question paper in the exams.
General Instructions for ISC Class 12 Economics Board Exam
- Answer all questions in Section A, Section B, and Section C.
- Section A consists of objective / very short answer questions.
- Section B consists of short answer questions.
- Section C consists of long answer questions.
- The intended marks for questions or parts of questions are given in brackets [ ].
ISC Class 12 Economics Specimen Paper 2024
Check the CISCE Class 12 Economics Specimen Paper 2024 for better performance in the examinations. Also download the same by using the PDF download link.
SECTION A – 16 MARKS
Question 1
(i) Refer to the graph given below and determine the behavior of TU as MU decreases up to point ‘b’.
(a) TU increases up to a limit and remains positive.
(b) TU increases at an increasing rate
(c) TU increases at a diminishing rate.
(d) TU is at a point of satiety.
(ii) GST has been imposed at the rate of 5% both on edible oil and a few spices. In this situation, the supply curve of edible oil will:
(a) shift leftward.
(b) shift rightward.
(c) not change its position.
(d) slope downward.
(iii) Identify the good that has a direct price-demand relationship.
(a) Giffen Good
(b) Complementary Good
(c) Normal Good
(d) Inferior Good
(iv) How would rational consumers react to a situation when the price of the car remains constant but the price of petrol increases?
(a) They would tend to buy less cars.
(b) They would tend to buy more cars.
(c) They would not react to the situation.
(d) They would wait for the price of petrol to come down.
(v)Which type of tax discourages people from making more money as it can lead to class warfare and individuals hiding income or assets?
(a) A small percentage of tax charged on an individual’s income.
(b) A fixed percentage of tax charged on an individual’s income.
(c) Tax charged at a decreasing rate when the income of the individual increases.
(d) Tax charged at an increasing rate when the income of the individual increases
(vi) Which one of the following best illustrates leakages in the circular flow of income?
(a) Investment
(b) Export earning
(c) Savings by households
(d) Government expenditure
(vii) A firm’s demand curve shows highest elasticity in:
(a) Monopoly market.
(b) Perfectly Competitive market.
(c) Monopolistic competitive market.
(d) Oligopoly market.
(viii) Identify the equilibrium of the firm in the graph given below:
(a) T is the equilibrium point at which a firm enjoys supernormal profit.
(b) K is the equilibrium point when a firm faces losses.
(c) T is the equilibrium point causing normal profit to the firm.
(d) K indicates equilibrium which reveals zero profit to the producer
(ix) Assertion: Price discrimination is possible only in a monopoly market.
Reason: AR curve of a monopoly firm exhibits the market demand for the commodity.
(a) Both Assertion and Reason are true, and Reason is the correct explanation for Assertion.
(b) Both Assertion and Reason are true, but Reason is not the correct explanation for Assertion.
(c) Assertion is true and Reason is false.
(d) Both Assertion and Reason are false.
(x) In an economy, how much additional investment should be generated in the private sector to raise national income by ₹ 450 Cr. while MPC is 0·6?
(xi) How does an increase in national income affect the income-elastic investment in the economy?
(xii) An economy can have a fiscal deficit without a revenue deficit. Give one reason to support this statement.
(xiii) State whether the following is True or False. Give one reason for your answer. Change in inventory is a stock concept.
(xiv) State any one difference between Perfect competition and Monopolistic competition.
(xv) Full employment does not necessarily imply zero unemployment. Justify.
(xvi) How is the deflationary gap generated in the economy?
SECTION B – 32 MARKS
Question 2
(i) It is claimed that Artificial Intelligence can help the manufacturing industries improve their efficiency. How will this impact the supply of the product by the manufacturing industries? Show the impact with the help of a diagram.
(ii) The market demand for a commodity at ₹ 8 per unit is 100 units. The price rises and as a result, its market demand falls to 75 units. Find out the new price of the commodity if the price elasticity of demand is -1.
Question 3
(i) What does the difference between fiscal deficit and interest payments imply? What does ‘zero difference’ mean in this case?
(ii)In some situations, the government may consider additional spending to fight inflation. Justify this statement.
Question 4
(i) Why is the short-run average cost curve U-shaped?
(ii) Calculate AC, AVC, and AFC from the following: TFC is ₹15 at all levels of output
Question 5
(i) Explain any two causes of restricted entry in a monopoly market structure.
(ii) The demand curve of a firm is more elastic under monopolistic competition than under monopoly. Explain.
OR
(i) Maximum profit implies the equilibrium position of a firm, but every equilibrium does not imply maximum profit of the firm. Justify this statement with the help of a suitable diagram.
Question 6
(i) Explain the indeterminate demand curve of an oligopolist.
(ii) What is meant by a break-even point? Show it in a diagram.
Question 7
(i) How can open market operations help curb deflationary pressure in the economy?
(ii) Indian rupee is a legal tender. Justify this statement.
Question 8
(i) Describe four important functions of Money.
OR
(ii) How are deposits created through lending by commercial banks? Explain with the help of a numerical example.
Question 9
Determine the output and equilibrium level of income with the help of the Saving and Investment approach.
For complete ISC Class 12 Economics Specimen Paper, click on the link below.
Keep tuning in to Jagran Josh for subject-wise ISC Class 12 Specimen Paper 2024. Also, keep reaching out to our website for any exam and education-related updates.
Also find:
ICSE, ISC Exam Pattern 2023-2024(PDF)
ISC Class 12 Specimen Papers 2023-2024(PDF)
ISC Class 12 Syllabus 2023-2024(PDF)
ICSE, ISC Syllabus 2023-2024(PDF)
Related:
ISC Class 12 Business Studies Syllabus 2023-2024(PDF)
ISC Class 12 Accountancy Specimen Paper 2023-2024(PDF)
ISC Class 12 Physical Education Specimen Paper 2023-2024(PDF)