What Are The Important Questions To Study For CBSE Class 12 Economics Exam

By Malavikka

CBSE class 12 economics exam is scheduled on Mar 26, 2018. As study holidays are closing in, here are some important topics, and section-wise important questions for students to go through and prepare in the last minute.

Scan these questions and solve the answers to ace the economics exam. All the best! Before we start with the important questions, let's first take a look at the syllabus, exam pattern and marks pattern to get a clearer idea.


CBSE Class 12 Economics Syllabus


1 Introduction to Microeconomics 2 Consumer's Equilibrium and Demand 3 Producer Behaviour and Supply 4 Forms of Market and Price Determination Under Perfect Competition With Simple Applications 5 National Income and Related Aggregates 6 Money and Banking 7 Determination of Income and Employment 8 Government Budget and the Economy 9 Balance of Payments

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CBSE Class 12 Economics Marks Pattern

1 4
2 13
3 13
4 10
5 10
6 6
7 12
8 6
9 6

CBSE Class 12 Economics Exam Pattern

Very Short Answer 8 1 8
Short Answer I 4 3 12
Short Answer II 6 4 24
Long Answer 6 6 36

CBSE Class 12 Economics Chapter-wise Important Topics

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1 Economics and Its Types
2 Budget, Demand and Plastic Elasticity
3 Concept of Production Function and Cost Function
4 Concept of Revenue, Supply and Supply Elasticity
5 Investment, Stock and Flows
6 Methods of Calculating National Income
7 Barter System and Money and Central Bank
8 Problems of Deficient and Excess Demand
9 Foreign Exchange Rate

CBSE Class 12 Economics Important Very Short Answer Type Questions

(One Mark Questions)

Chapter Number Questions
1 Definition and examples of micro and macro-economics
2 Definition of utility and marginal utility
3Definition and formulae of types of cost
4Factors affecting supply, supply curve and law of supply
5Components of investment, types of investment and types of income
6 Income method, expenditure method, formulae to calculate income
7 Evolution of money, forms of money, drawbacks of barter system
8 Types of employment equilibrium, deflationary gap, deficient demand
9 Types of exchange rate systems, merits of fixed exchange rate

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CBSE Class 12 Economics Important Short Answer Type Questions

(Three Mark Questions)

Chapter Number Questions

1 What is the difference between planned economy and market economy? 2
  • What is budget line and negatively sloped?
  • Explain any two factors that affect elasticity of demand.
  • What is the relation between total cost and marginal cost?
  • Draw average variable cost, average total cost and marginal cost in a single diagram.
  • Explain the effect of technological progress on supply of a commodity.
  • The price elasticity of a commodity is 2.0. A firm supplies 200 units of it at a price of INR 8 per unit. At what price will it supply 250 units?
5 Explain the circular flow of income 6 Calculation of sales from data provided 7
  • Significance of unit of accounts function of money
  • Significance of store of value function of money
  • What is the difference between voluntary and onvoluntary employment?
  • What is the meaning and implications of deflationary gap?
9 What impact does doubling on import of gold duty have on the market and how?

CBSE Class 12 Economics Important Short Answer Type Questions

(Four Mark Questions)

Chapter Number Questions

  • What is the difference between microeconomics and macroeconomics?
  • Give any two features of centrally planned economy
  • Explain with example, the factors that affect price elasticity of demand.
  • What is a budget line and when can it shift to the right?
  • What is variable cost and explain the behaviour of total variable cost.
  • Distinguish between fixed and variable cost, average and marginal cost with example.
  • How do changes in prices of inputs influence the supply of a product?
  • What is supply schedule and the effect of it on a good?
  • What is the difference between stock and flow? Give two examples for each.
  • Explain circular flow of income with diagram and phases.
6 Calculate Gross National Product with data provided. 7
  • Describe the evolution of money
  • State the functions of money
8 Explain concept of excess demand in macroeconomics 9 How is foreign exchange rate determined in the market?

CBSE Class 12 Economics Important Long Answer Type Questions

(Six Mark Questions)


QUESTIONS 1 Give the meaning of foreign exchange and foreign exchange rate explaining the relation between foreign exchange and its demand. 2 Explain the changes that will take place in an economy when aggregate demand is not equal to aggregate supply. 3 State the functions of money. 4 Explain the three properties of indifference curve. 5 Explain the conditions of consumer's equilibrium under indifference curve.

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