Class 12 Economics Sample Papers & Important Questions

CBSE Class 12 Economics sample papers as per the latest syllabus, NCERT solutions, test papers, and chapter-wise quick revision notes are available on the myCBSEguide App for free download. Although a part of social science subject, Economics plays an equally important role in commerce as well as it has a great influence on every human being. If we talk in general terms, we see changes in our economic life and the economy as well. Therefore, to understand these changes children need to have the minimum knowledge of economics as a discipline to know how things operate in reality. Hence, it becomes imperative to provide them with the opportunities to acquire sufficient analytical skills, so that they could experience, observe and understand the economic realities. The subject of economics comes into existence from the secondary level and is one of the social science subjects. However, at the senior secondary level, it becomes an independent subject as one of the academic elective subjects of Group A.

Resources for CBSE Class 12 Economics

It has been a decade since myCBSEguide has been continuously aiding students with valuable resources to support their self-dependency in terms of self-study. Our student dashboard is equipped with study material related to the whole CBSE course. Class 12 Economics students are provided with NCERT textbook solutions, chapter-wise revision notes, test papers, and online tests for Economics. Our class 12 model paper for Economics is one of the most downloaded files in the last year. Besides, students may also find board exam question papers with toppers' answer sheet and their solutions free of cost.

CBSE Class 12 Economics Syllabus

 At the senior secondary stage, the learners are in a position to understand abstract ideas, exercise the power of thinking, and develop their own perception. It is at this stage, the learners are exposed to the rigour of the discipline of economics in a systematic way. The CBSE Class 12 Economics Syllabus 2022-23 includes both the books prescribed by the CBSE. But for every academic session, the CBSE keeps changing the syllabus either by adding or deleting some portions to the existing one or maybe completely replacing a chapter with a new one. But you don't have to get anxious about these changes as we bring detailed information regarding the Class 12 Economics syllabus 2022-23 on myCBSEguide. The syllabus for class 12 economics is broadly divided into two parts, as follows:

Introductory Macroeconomics

Indian Economic Development

You can download the Economics class 12 syllabus 2022-23 from CBSE official website or myCBSEguide app as a PDF.

Class 12 Economics NCERT Solutions

The importance of the NCERT solution in the CBSE course need not be explained. Being well-versed in NCERT questions is the first step to getting closer to success. That is why it is always recommended to study NCERT books as it covers the whole syllabus. You can have easy access to chapter-based class 12 Economics NCERT solutions on myCBSEguide. The NCERT textbook questions and answers help you to get a thorough understanding of the concepts. Our NCERT solutions for class 12 Economics include all the questions provided in the NCERT text book which is prescribed for class 12 in schools and are now available in myCBSEguide for free to view and download.

NCERT Economics Solutions are as follows: 

Macroeconomics

1. Introduction
2. National income accounting
3. Money and Banking
4. Income Determination
5. The Government Budget and Economy
6. Open Economy Macroeconomics

Class 12 Economics Sample Papers

CBSE sample papers for the 2022-23 examinations are out and so is myCBSEguide's model question papers. Like every year, we have prepared sample papers for the secondary and senior secondary examinations 2022-23. The model test papers play a decisive role in students' grades. It can bring a hell lot of difference. The more one practices CBSE sample papers, the more accurate and punctual one becomes for their boards. Students can check our latest Class 12 Economics Sample Papers for 2022-23  

Understanding and memorising economic theories is one thing and their application is another. It is always advisable to physically practice what we have memorized. The human brain registers most of the things in the subconscious mind and it remains there until it is used and revived frequently. That is why a regular exercise of testing our knowledge. Sample Papers hold a special place in students' life. They must not utilize the few days before their final board examination in solving sample papers. For subjects like Economics, which seems to be simple but solving becomes tough, students should never take risks. Practicing is the only key to the door to success. To help them access this key myCBSEguide brings Sample Papers for Class 12 Economics based on the updated 2022-23 syllabus. Do check them out.

Class 12 Economics Test Papers & Mock Test

Besides full-length model papers, we also provide chapter-level test papers and online MCQ tests. The test papers are so designed that it covers all the chapters of class 12 economics gradually. Students can take these tests as soon as they think they are done with preparing a lesson. It will surely bear a long-term benefit. We also have an option for chapter-based online tests which gives a good experience for time management and fosters fun learning. Students should try our Class 12 Economics Mock Tests to ramp up their preparation.

Important Questions for Class 12 Economics

Our team at myCBSEguide chalks out important questions for each and every subject at their discretion. These questions are really important and some are sure sort to appear in the board examinations. This year too, we have this section for the important subject including class 12 economics. For more details read this link Class 12 Economics Extra Questions. These are basically around 4-5 sets of solved important questions from every chapter. They are supposed to cover all the important topics in a given chapter. The idea is that the students should not miss any concept and can tackle the CBSE class 12 board exam with ease.

Class 12 Economics Chapter wise Important Questions

1. National Income and Related Aggregates
2. Money and Banking
3. Determination of Income and Employment
4. Government Budget and the Economy
5. Balance of Payments & Foreign Exchange
6. Indian Economy on the Eve of Independence
7. Indian Economy 1950-90
8. Economic Reforms Since 1991
9. Poverty
10. Human Capital Formation in India
11. Rural Development
12. Employment Growth Informational and other Issues
13. Infrastructure
14. Environment Sustainable Development
15. Development Experiences India & Neighbours

Students can also attempt the class 12 economics mock test on myCBSEguide. These tests if taken regularly may help to get rid of exam stress as the student will get used to writing papers within a stipulated timeframe. 

Class 12 Economics Case Study Questions

The new focus of the Indian education system is on competency-based education (CBE). Taking a cue the CBSE is following the methods to encourage competency-based education. Asking case-based questions is one such method. These case study questions test students' problem-solving ability in a given life-like situation or say real-life situation. Students become aware of their ability to master a skill or competency on their own. We have had enough of these kinds of questions in almost every subject of the CBSE module. Our resources under the Class 12 Economics Case Study Questions are worth practicing as they are a completely ok-tested resource and are designed to meet different learning abilities and can lead to efficient student outcomes.

Economics Case Study Questions: Subjective

An important lesson that the COVID-19 pandemic has taught the policymakers in India is to provide greater impetus to sectors that make better allocation of resources and reduce income inequalities. COVID-19 has also taught a lesson that in crisis the population returns to relying on the farm sector. India has a large arable land, but the farm sector has its structural problems. However, directly or indirectly, 50 percent of the households still depend on the farm sector. Greater support to MSMEs, higher public expenditure on health and education and making the labour force a formal employee in the economy are some of the milestones that the nation has to achieve.

One of the imminent reforms to be done in the country is labour reforms. Labour laws are outmoded in India, and some of these date back to the last century. 

India’s complex labour laws have been blamed for keeping manufacturing businesses small and hindering job creation. Industry hires labour informally because of complex laws and that is responsible for low wages.

1. Which types of structural problems are faced by the agricultural sector?
2. “It is necessary to create employment in the formal sector rather than in the informal sector.’’ Defend or refute the given statement with a valid argument.
3. Hired labour comes in …………………. (Informal organisation / formal organisation)
4. What do you mean by MSMEs?

Economics Case Study Questions: MCQ Format

Keeping in view the continuing hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements, the Reserve Bank of India has extended the relaxation of the minimum daily maintenance of the CRR of 80% for up to September 25, 2020. Currently, CRR is 3% and SLR is 18.50%.

“As announced in the Statement of Development and Regulatory Policies of March 27, 2020, the minimum daily maintenance of CRR was reduced from 90% of the prescribed CRR to 80% effective the fortnight beginning March 28, 2020 till June 26, 2020, that has now been extended up to September 25, 2020,” said the RBI.

Q.1 The full forms of CRR and SLR are:

1. Current Reserve Ratio and Statutory Legal Reserves
2. Cash Reserve Ratio and Statutory Legal Reserves
3. Current Required Ratio and Statutory Legal Reserves
4. Cash Reserve Ratio and Statutory Liquidity Ratio (ans)

Q.2 What will be the value of the money multiplier?

1. 33.33
2. 5.4
3. 4.65 (ans)
4. None of these

Q.3 SLR implies:

1. Certain percentage of the total banks’ deposits has to be kept in the current account with RBI
2. Certain percentage of net total demand and time deposits have to be kept by the bank themselves (ans)
3. Certain percentage of net demand deposits has to be kept by the banks with RBI
4. None of the above

Q.4 Decrease in CRR will lead to __.

1. fall in aggregate demand in the economy
2. rise in aggregate demand in the economy (ans)
3. no change in aggregate demand in the economy
4. fall in the general price level in the economy

CBSE Class 12 Economics Question Bank

This is a handy tool for those industrious teachers who genuinely try hard for their students. In due process, these teachers tend to miss the work-life balance. Even during the holidays or week breaks, they are working all the time to bring the best for their students. They keep working for late hours to make tricky question papers, solving and finding answers themselves. To help them, myCBSEguide provides a facility to use their regularly-updated question bank. Under this, teachers can generate question papers using three different modes: Manual, Automated, and Express. An auto-fed blueprint works behind designing these papers. Teachers can easily create a question paper for Class 12 Economics in their desired mode within minutes. They can also edit and add a question of their own choice or their question. 

 MyCBSEguide is a study-centric website, which has been trusted not only by the students but also by the parents and teachers who envision the success of our children following a path of genuine hard work. The myCBSEguide app not only provides you with the CBSE class 12 Economics model question papers but also provides class 12 Economics chapter-wise test papers, class 12 Economics revision notes, and other study material for class 12 Economics students.