KRISHNA INTERNATIONAL SCHOOL

CLASS-XII

HALF YEARLY QUESTION PAPER

SUBJECT: -ECONOMICS

TIME- 3 HOUR MAX. MARKS-80

GENERAL INSTRUCTIONS

1. This paper contains 34 questions.

2. Paper is divided in to 4 sections.
3. Marks are indicated against each question.
4. Attempt all parts of questions together.

Section-A

1. Define primary sector. (1)

2. Which one of the following is an economic activity? (1)
A. Listening music on radio B. Teaching own son C. Medical facility provided by private doctor (1)
3. What is GDP at FC. (1)
4. Define tertiary sector.(1)

5. State which one of the following is true. (1)

a. Rent is a factor income
b. Royalty is not a factor income
c. Tax is a factor income
d. Subsidies is a factor payment
6. Define Domestic territory of a country. (1)
7. What do you mean by gross investments?(1)
8. What is a fixed exchange rate? (1)
9. Give the meaning of managed floating exchange rate. (1)
10. ____ refers to the annual percentage increase in real national income during
that period (1)
a. Rate of national income
b. Rate of growth
c. None
d. Rate of development
11. In which year railways was introduced in India? (1)
a. 1892
b. 1890
c. 1850
 d. 1853
12. What do you mean by low productivity in agriculture? (1)
13. Which is the primary objective of economic planning in India(1)
a. Reducing Inequalities of income
b. Abolition of poverty
c. Growth with social justice
d. Removing unemployment
14. In India, what type of economic system is being followed? (1)
a. Capitalism
b. Socialism
c. Monarchy
d. Mixed
15. External Factors responsible for industrial sickness (1)
a. Lack of management
b. Government policies related with production, distribution and prices
c. Excessive overhead expenses
d. Diversion of funds
16. How many industries still need license for its operations? (1)
a. 4
b. 8
c. 10
d. 6
17. When government disinvests its shares to the extent of 5 to 10 percent to
meet the deficit in the budget, this is termed as (1)
a. None
b. Partial privatisation
c. Token privatisation
d. Denationalisation
18. LPG stands for: (1)
a. Liberalisation, Production and Global Cooperation
b. License, Privatisation and Globalisation
c. Liberalisation, Privatisation and Globalisation
d. License, Permit and Goods
Or
Who was the finance minister of India in 1991.
19. Define the globalization. (1)
Or
What is NDPfc?
20. Privatisation has done more harm than good. Justify your answer. (1)
Or
What is Stagnant economy?

Section-B
 21. Find Net National Product at Market Price. (3)
S.no. Contents (Rs. in Crores)

(i) Personal Taxes 200

(ii) Wages and Salaries 1,200

(iii) Undistributed Profit 50

(iv) Rent 300

(v) Corporate Tax 200

(vi) Personal Income 2,000

(vii) Interest 400

(viii) Net Indirect Tax 300

(ix) Net Factor Income from Abroad 20

(x) Profit 500

(xi) Social Security Contribution by Employers 250

22. Giving reason, explain whether the following are included in domestic product of India. (3)

i.
Profits earned by a branch of foreign bank in India.
ii.
Payment of salaries to its staff by an embassy located in New Delhi.
iii.
Interest received by an Indian resident from its abroad firms.
23. What were the main causes of slow growth of population during British
rule? (3)
24. Explain ‘growth with equity’ as a planning objective. (3)
or
Industrial licensing was used to promote regional equality’. Discuss.

Section-C
25. In your opinion, what are the advantages of privatisation to the economy? (4)
26. From the following data, calculate “Net Value Added at Factor Cost”. (4)
S.no. Content (Rs. in Lakhs)

(i) Sales 400

S.no. Content (Rs. in Lakhs)

(ii) Change in Stock (-) 20

(iii) Intermediate consumption 200

(iv) Net indirect taxes 40

(v) Exports 50

(vi) Depreciation 70

27. Explain the impact of Devaluation of domestic currency on the export and
imports of an economy. (4)
28. Discuss occupational structure of Indian economy at the time of
Independence. (4)
Or
Distinguish between direct and indirect taxes.
29. Write a brief note on trade and investment policy reforms. How did it lead to
economic growth? (4)
Or
Discuss the components of capital account.
30. Discuss effect of British rule on Indian handicraft industry? (4)

Section-D

31. Calculate Gross national product at market price from following particulars (6)

Particulars Amount

1 Compensation of employees 2000

2 Interest 500

3 Rent 700

4 Profits 800

5 Employer’s contribution to social security 200

 scheme

6 Dividends 300

7 Consumption of fixed capital 100

8 Net Indirect taxes 250

9 Net Export 70

10 Net factor income from abroad 150

11 Mixed Income of Self Employed 1500

32. Calculate GDP at MP and National Income.(6)

Particulars Amount

1 Net Exports -30

2 Subsidies 5

3 Private final consumption expenditure 400

4 Net domestic fixed capital formation 50

5 Government final consumption expenditure 100

6 Net factor income from abroad -10

7 Closing stock 10

8 Consumption of fixed capital 40

9 Indirect Taxes 55

10 Opening Stock 20

Or
State any precautions that are taken while calculating national income by expenditure
method.

33. Critically appraise some of the shortfalls the industrial policy pursued by the
British colonial rule. (6)
or
Evaluate the positive and negative impacts of LPG policy.
34. 1. Give the meanings of devaluation and depreciation of domestic currency. (3)
2. Describe any three sources of supply of foreign exchange. (3)