QUESTION PAPER
2024 BOARD EXAM
CBSE CLASS 12-HUMANITIES ECONOMICS Board Paper 2024 — Set 2
2024
ECONOMICS
CLASS 12-HUMANITIES
CBSE EXAMINATION PAPER-2024
ECONOMICS
(Solved)
General Instructions :
Read the following instructions carefully and follow them :
- This question paper contains 34 questions. All questions are compulsory.
- This question paper is divided into 5 sections.
- Section A – questions number 1 to 2 are case based questions
- Section B – questions number 3 to 17 are multiple choice questions
- Section C – questions number 18 to 23 are short answer type i
- Section D – questions number 24 to 31 are short answer type ii
- Section E – questions number 32 to 34 are long answer
- There is no overall choice given in the question paper. However, an internal choice has been provided in few questions.
- Use of calculator is NOT allowed.
Section A
Read the following text carefully :
India s industrial policy since independence has been shaped broadly in terms of the Industrial Policy Resolution of 1948. It emphasized on the sole responsibility of the government in the matter of promoting, assisting and regulating the development of industries in the national interest. It envisaged an active and dominant role of public sector.
The next Industrial Policy Resolution was placed before the Parliament by the Prime Minister on 30th April, 1956. It suggested that, There is a need for adoption of the socialist pattern of economy as the national objective, along with the need for planned and rapid development. It required that all industries of basic and strategic importance, or in public utility services, should be in the public sector.
Other industries which are essential and require investment on a massive scale (which only the State could provide) have also to be in the public sector. Thus, the State has to assume direct responsibility for the future development of industries.
This Resolution classifies industries into three categories :
• The first category given in Schedule A, consists of industries the future development of which will be the exclusive responsibility of the State.
• In the second category given in Schedule B, are industries which will be progressively State-owned. However, in them, private enterprise will also be expected to participate.
• The third category comprises all the remaining industries, the further development of which will be left to the initiative and enterprise of the private sector.
On the basis of the given text and common understanding, answer the following questions .
(1) Outline and discuss the classification of industries into various categories as per Industrial Policy Resolution, 1956
(2) The Government of India, in the initial years of economic development, emphasized on a greater role of the public sector in the industrial development. Justify the statement, giving reasons in support of your answer
Read the following text carefully :
Decisions taken by factors of production in the production process often may affect the stakeholders indirectly. Such impacts at times are huge but are not accounted for, while estimating national income. Economists call them as externalities and they can be positive or negative.
In this regard, many economists suggest carbon pricing as an important tool to ensure ecological balance.
Carbon pricing tries to control greenhouse gas emissions by either placing a fee on emitting or offering subsidies on lesser emission. Through instruments like carbon tax, green cess, eco tax, etc. economists suggest moving towards greener technology eliminating such negative externalities.
On the basis of the given text and common understanding, answer the following questions :
(1) Define externalities.
(2) Differentiate between positive and negative externalities.
(3) Elaborate how and why carbon pricing should be promoted.
Section B
Read the following statements carefully:
Statement 1: A consumption function describes the relationship between consumption and savings.
Statement 2: Consumption function consists of two components autonomous consumption and induced consumption.
In the light of the given statements, choose the correct alternative from the following:
Identify which of the following will appear on the debit side in the Capital Account of India of Balance Payments.
Suppose in an imaginary economy, autonomous consumption = ₹ 500 crore and marginal propensity to consume = 0.8. The saving function for the economy would be ___________.
(Choose the correct alternative to fill in the blank)
Identify the incorrect statement with reference to Cash Reserve Ratio (CRR):
During the British rule, India's foreign trade had various features except ________________. (Choose the correct alternative to fill in the blank)
China was able to control its rapid population growth rate owing to ________________.
(Choose the correct alternative to fill in the blank)
Modernization is an important economic planning objective that focuseson _______________.
(Choose the correct alternative to fill in the blank)
(i) Adoption of innovative technology
(ii) Equal distribution of income and wealth
(iii) Bringing positive changes in the social outlook
Alternatives :
The present day rapid industrial growth in China can be traced back to the economic reforms introduced in 1978, where _______________.
(Choose the correct alternative to fill in the blank)
(i) initially reforms were initiated in agriculture, foreign trade and investment sectors
(ii) the policy of dual pricing was adopted
(iii) the Government revoked the policy of Special Economic Zones
Alternatives :
____________ farming is a system that is helpful in restoring, maintaining and enhancing the ecological balance.
(Choose the correct alternative to fill in the blank)
Read the following statements carefully :
Statement 1 : India, Pakistan and China have similar physical endowments, but totally different political systems.
Statement 2 : Both India and Pakistan laid great emphasis on creating a large private sector.
In the light of the given statements, choose the correct alternative from the following :
Identify the sources of Human Capital Formation and choose the correct alternative to fill in the blanks.
Alternatives :
From the type of workers given in Column I, identify the correct nature of work in Column II :
Alternatives :
After the implementation of economic reforms, Pakistan experienced slowdown of growth due to various reasons including _____________.
(Choose the correct alternative to fill in the blank) 1
(i) Volatile performance of the agriculture sector
(ii) Over-dependence on remittances from abroad
(iii) Political instability
Alternatives :
Read the following statements : Assertion (A) and Reason (R). Choose the correct alternative from those given below :
Assertion (A) : In the recent past, Indian economy has been facing the problem of jobless growth.
Reason (R) : Jobless growth refers to a situation where an economy is able to produce more goods and services without generating additional employment.
Alternatives :
Section C
"The Government of India has taken various measures to align the agricultural marketing system with the growing production activities in the rural areas".
Do you agree with the given statement ? Give any two valid in support of your answer.
Self- Help Groups provide stimulus to socio-economic development in rural areas.
Justify the given statement with valid explanation.
Interpret the given picture and explain any one strategy to control it from becoming an ecological disaster.
"Depreciation of currency may promote exports of a nation." Defend or refute the given statement with valid arguments.
On the basis of the data given below, estimate the value of Gross National Product at Factor Cost (GNPFC) :
Accommodating transactions are undertaken to maintain stability in the Balance of Payments Account".
Justify the given statement with valid explanation.
Section D
If actual demand for final goods falls short of the actual output of final goods corresponding to full employment level, it may lead to an unintended accumulation of inventories.
Do you agree with the given statement? Give valid reasons in support of your answer.
Discuss any two factors that lead to stagnating Indian agriculture sector during British rule.
Discuss any two liberalization measures pertaining to the tax reforms, introduced by the government, during the economic reform process of 1991.
There exists a positive correlation between human capital formation and economic growth of nation .
Justify the given statement with valid explanation.
On the basis of the data given below, discuss the shift in output and employment sector-wise, in India and China :
Source : Human Development Report 2019 : Key Indicators of Asia and Pacific, 2019
Reserve Bank of India undertakes the important function of managing the government s banking transactions.
Discuss the above stated function performed by the Reserve Bank of India.
Complete the following table. Construct the consumption function at ₹ 200 crore level of income.
Section E
(i) The participation rate of people in economic activities in rural areas is more than that in urban areas.
Justify the given statement.
(ii) Define disguised unemployment. State its implications on output and employment in a country.
(i) "Amita is a regular worker in a private firm that employs twelve hired workers."
Is she working in the formal/informal sector? Give valid reasons in support of your answer.
(ii) State any two sources of data on unemployment in India.
(iii) Elaborate the need to promote women's education in India.
(i) Distinguish between direct tax and indirect tax with the help of suitable examples.
(ii) Explain the redistribution of income objective of the Government Budget.
Other Years — ECONOMICS