Important Short Questions For Practice – Best Study Material

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Check and solve the listed questions of the CBSE 2022 class 12 economics exam. The short questions apart from the CBSE sample papers are for students appearing in the 2022 class 12 exams.

CBSE Classroom 12th Quarter Economics Exam will be held on 28th May 2022. CBSE 2nd Quarter Date Sheet has been posted on the official website cbseacademic.nic.in. The Council has also posted sample articles on all topics on its official website.

Economics is an important subject and is also a highly rated subject. The CBSE has also offered sample articles on this topic. Check the short questions apart from the sample CBSE documents below to understand the questions and answer them. Check below.

CBSE Class 12 Economics Term 2 Exam: Important Review Questions

Q1. Define stock and flow

Q2. Define gross investment

Q3. Give two examples of the concept of flow

Q4. Define externalities. Give an example of a negative externality. What is its impact on well-being?

Q5. If the real GDP is Rs. 200 and the price index (with base = 100) is 110, calculate the nominal GDP.

Q6. If the nominal GDP is Rs. 1,200 and the price index (base = 100) is 120, calculate the real GDP.

[Term 2] CBSE Class 12 Commerce 2022 Important Questions: Accounting, Economics and Business Studies – Check and Download PDF!

Q7. Giving the reason, explain whether the following are included in the domestic product of India.

Q8. Define the problem of double counting in the calculation of national income. List two approaches to correcting the double counting problem.

Q9. Q18. Will the following factor income form part of India’s domestic factor income? Justify your answer

i) Profit made by foreign banks on their branches in India

ii) Salary earned by Indian residents working at the US Embassy in India.

(iii) Profit earned by an Indian company from its branch in Singapore.

Q10. How will you treat the following when calculating India’s domestic product? Justify your answer.

i) Profits made by a foreign company in India.

ii) Salary of Indian Residents working at the Russian Embassy in India

Q11. Governments spend on childhood immunization programs. Analyze its impact on GDP and the well-being of the population.

Q12. How will you treat the following when estimating a country’s domestic product? Justify your answer.

(a) Profit earned by branches of the country’s bank in other countries.

(b) Gifts are given by an employer to its employees on Independence Day.

c) Purchase of goods by foreign tourists

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CBSE Class 12 Economics Sample Paper 2022 (Term 2): Question Paper Format Revealed with Marking Scheme – Download the PDF!

Q13. Explain the precautions to be taken in estimating national income by the expenditure method (by the value added method).

Q14. Define the problem of double counting in the calculation of national income. List two approaches to correcting the double counting problem.

Q15. “Gross domestic product does not give us a clear indication of a country’s economic well-being.” Defend or refute the given statement with a valid reason.

Q16. Define the following:

(a) Added value

(b) Gross domestic product

(c) Flow variables

d) Income from property and entrepreneurship

Q17. What are non-monetary exchanges? Discuss with an appropriate example.

Q18. Explain the equilibrium of national income by aggregate demand and aggregate supply. Use the scheme. Also explain the change that occurs in an economy when the economy is not in equilibrium.

Q19. In an economy, the savings function, S = (-) 50 + 0.5Y here (S = savings and Y = national income) and investment = Rs 7000. From the following data, calculate

a) Equilibrium level of national income

b) Consumption expenditure at equilibrium level of income

Q20. Explain how the investment multiplier works using a numerical example.

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Term 2 CBSE Class 12 Economics Program 2022: CBSE Board Exam 2022

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