HSC Economics question bank with solutions class 12 Maharashtra Board

HSC Economics question bank with solutions

Q.6 Answer in detail

  1. Explain the law of diminishing marginal utility and its exceptions
  2. Explain the law of demand and its exceptions
  3. Explain the concept of price elasticity of demand and its types
  4. Explain the law of supply and its exceptions
  5. Explain the practical difficulties in the estimation of national income
  6. Explain the income method and expenditure method of measurement of national income
  7. Explain the Total expenditure method and Geometric method of measuring price elasticity of demand
  8. Explain the concept of public revenue and its sources

Q.5 Study the following table, figure, passage and answer the questions given below it.

(for Question No.5 refer to the book and solve all question detail on YouTube)

Q.4 State with reasons whether you agree or disagree with the following statements:

  1. The scope of microeconomics is unlimited
  2. Macroeconomics is different from Microeconomics
  3. When total utility is maximum, marginal utility is zero
  4. There are no exceptions to the law of diminishing marginal utility
  5. There are no exceptions to the law of demand
  6. There is an inverse relationship between price and demand
  7. The supply curve of labour is backward bending
  8. There is a direct relationship between price and quantity supplied
  9. There are many exceptions to the law of supply
  10. Seller is the price maker under perfect competition
  11. There is product differentiation under monopolistic competition
  12. Selling cost is the only feature of monopolistic competition
  13. Index numbers measure changes in the price level only
  14. There are many theoretical difficulties in the estimation of national income
  15. Issue of currency notes is the only function of the Reserve Bank of India
  16. Commercial banks create credit
  17. Foreign trade leads to the division of labour and specialization
  18. There is no difference between Balance of payment and Balance of trade

Q.3 Answer the following:

  1. Explain the concept of microeconomics and its features
  2. Explain the Importance of microeconomics
  3. Explain the concept of macroeconomics and its features
  4. Explain the scope of macroeconomics
  5. Explain types of utility
  6. Explain any four features/characteristics of utility
  7. Explain the relationship between total utility and marginal utility
  8. Explain types of demand
  9. Explain the types of elasticity of demand
  10. Explain features of perfect competition
  11. Explain the concept of oligopoly with any four features
  12. Explain features of monopoly
  13. Explain features of monopolistic competition
  14. Explain the types of index numbers
  15. Explain the two-sector model of the circular flow of national income
  16. Explain non-tax sources of public revenue
  17. Explain the structure of the organized sector of the money market in India
  18. Explain the structure of the unorganized sector of the money market in India
  19. Explain the functions of commercial banks
  20. Explain the functions of the Reserve Bank of India
  21. Explain the role of the money market in India
  22. Explain the role of the Indian Capital Market
  23. Explain the types of foreign trade
  24. Explain the various reasons for the growth of public expenditure.
  25. Explain in detail the output method of measuring national income
  26. Construct Quantity index number from the given data:
    CommodityABCDE
    Base year
    quantities
    170150100195205
    Current year
    quantities
    90707515095

Q.2.B Distinguish between:

  1. Microeconomic and Macroeconomics
  2. Stock and Supply
  3. Total cost and Total revenue
  4. Total utility and Marginal Utility
  5. Individual demand schedule and Market Demand Schedule
  6. Demand curve and Supply Curve
  7. Direct tax and Indirect tax
  8. Expansion of demand and Contraction of demand
  9. Increase in demand and Decrease in demand
  10. Expansion of supply and Contraction of supply
  11. Increase in supply and Decrease in supply
  12. Price elasticity of demand and income elasticity of demand
  13. Perfectly elastic demand and Perfectly inelastic demand
  14. Public finance and Private finance
  15. Revenue expenditure and Capital expenditure
  16. Internal debt and External debt
  17. Money market and Capital market
  18. Demand deposits and Time deposits
  19. Import Trade and Export trade
  20. Internal trade and Foreign trade
  21. Slicing method and Lumping method
  22. Partial equilibrium and General equilibrium
  23. Direct demand and Indirect demand
  24. Gross Domestic Product and Net Domestic Product
  25. Balance of payment and Balance of Trade
  26. Short period and Long period
  27. Perfect Competition and Monopoly
  28. Monopoly and Monopolistic competition
  29. Simple index number and Weighted index number
  30. Price index number and Quantity index number

Q.2.A.Identify and Explain the concepts from the given illustrations:

(for Question No.2B refer to the book and solve all question detail on YouTube)

For Question No.1 refer to the book

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Reference: MHSB Books

HSC Economics question bank with solutions

HSC Economics question bank with solutions HSC question bank with solution, class 12 Maharashtra Board, Economics important questions, hsc board exam 2022, important questions of economics

 

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