Class 12 Economics Important Question Answer solution with pdf. Here We Provides Class 1 to 12 all Subjects NCERT Solution with Notes, Question Answer, CBSE and HBSE Important Questions, MCQ and old Question Papers for Students.
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HBSE ( Haryana Board ) Solution of Class 12 Economics important Question And Answer solution for 2025 exams.
HBSE Class 12 Economics Important Question 2025
Macro Economics
HBSE Class 12 Economics Chapter 1 – Introduction Important Questions 2024-25
Q1. Distinguish between internal and external economies. Most Important
Q2. Year of World’s Great Depression was __________ (1929, 1936) Most Important
Ans – 1929
HBSE Class 12 Economics Chapter 2 – National Income Accounting Important Questions 2024-25
Q1. What do you understand by Stock ? Most Important
Q2. Discuss briefly income method of measuring national income. Most Most Important
Q3. What is the difference between private income and personal income ? Most Important
Q4. Explain the Product Method’ of measuring National Income. Most Important
Q5. Explain the ‘expenditure method’ of measuring National Income. Most Most Important
Q6. Give the definition of Tax. Most Important
Q7. What is national income accounting ? Explain in brief, the concept of normal residents of a country. Most Important
Q8. What is Tax? Write three differences between Direct and Indirect Taxes. Most Important
Q9. What is Tax ? Explain main features of tax. Most Important
Q10. What is meant by the Error of Double Counting ? How can it be avoided ? Most Important
Q11. Differentiate between intermediate and final goods. Most Important
Q12. What are Substitutes Goods ? Give its example. Most Important
Q13. Calculate(A) Gross Domestic product at Market Price (B) Net National Product at factor cost from following: Most Important
| (i) Net Indirect Tax
(ii) Depreciation (iii) Net factor Income from abroad (iv) Rent (v) Profit (vi) Interest (vii) Royalty (viii) Wages & salary (ix) Owner’s contribution to social security |
= 38 Crore
= 34 Crore = (-) 3 Crore = 10 Crore = 25 Crore = 20 Crore = 5 Crore = 170 Crore = 30 Crore |
Q14. There is no difference between supply and stock. Most Important (True / False)
Q15. Supply can exceed stock. Most Important (True / False)
Q16. Income tax is a direct tax. Most Important (True / False)
Q17. ‘Service tax’ is an indirect tax. Most Important (True / False)
Q18. Pepsi and Coke are the examples of _________ goods. (complementary, substitute) Most Important
Q19. Scholarship is __________ income. (Transfer, real) Most Important
Q20. Increase in quantity supplied due to rise in price is called __________. (extension of supply, increase of supply) Most Important
HBSE Class 12 Economics Chapter 3 – Money and Banking Important Questions 2024-25
Q1. What are the main functions of Reserve Bank of India ? Most Important
Q2. Explain four functions of a Central Bank. Most Important
Q3. State two functions of Commercial Banks. Most Important
Q4. State any two primary functions of Banks. Most Important
Q5. What do you mean by Money? Write its main functions. Most Important
Q6. Explain any four differences between ‘Central Bank’ and ‘Commercial Banks’. Most Important
Q7. Explain the secondary functions of money. Most Important
Q8. What is Central Bank ? Explain its functions? Most Important
Q9. What are the difficulties of barter system ? Most Important
Q10. Explain Quantitative Methods for Controlling Credit. Most Important
Q38. __________ included in money. (only coins, currency and bank deposits) Most Important
Q39. One rupee note in India is issued by _________. (Reserve Bank, Central Government) Most Important
HBSE Class 12 Economics Chapter 4 – Determination of Income and Employment Important Questions 2024-25
Q1. Define Investment. Most Important
Q2. Differentiate between autonomous investment and induced investment. Most Important
Q3. Keynes’ multiplier was known as ______________. (employment multiplier/investment multiplier) Most Important
Q4. Value of multiplier = __________. (1 ÷ 1-MPC, 1 ÷ MPC) Most Important
Q5. When AS > AD, then supply of goods and services in the economy tends to be _________ than their demand. (more, less) Most Important
Q6. Credit multiplier = __________ (demand deposit ÷ cash deposit, cash deposit ÷ demand deposit) Most Important
HBSE Class 12 Economics Chapter 5 – Government Budget and the Economy Important Questions 2024-25
Q1. What do you understand by deficit of budget ? Most Important
Q2. Differentiate between revenue expenditure and capital expenditure. Most Important
Q3. What is Government Budget ? Explain its objectives also. Most Important
Q4. Define ‘Budget Line’. Explain along with diagram. Most Important
Q5. Budget line is also known as iso-product line. Most Important (True / False)
Q6. In case of deficient demand, government should not adopt policy of deficit budget. (True / False) Most Important
Q7. Total expenditure > Total receipts = __________ (surplus budget, deficit budget) Most Important
HBSE Class 12 Economics Chapter 6 – Open Economy Macroeconomics Important Questions 2024-25
Q1. What is Balance of Payments ? Most Important
Q2. Explain the economic reasons for adverse balance of payments. Most Important
Q3. Distinguish between ‘balance of trade and ‘balance of payments’. Most Most Important
Q4. Write the measures to correct adverse balance of payments. Most Important
Q5. Give two examples of transfer payment. Most Important
Q6. Define flexible rate of exchange. Most Important
Q7. Define balance of trade. Most Important
Q8. What is fixed exchange rate ? Give two arguments in favour of fixed exchange rate. Most Important
Q9. Calculate (i) Domestic Income and (ii) National Income with the help of the following data: Most Important
|
|
Q10. In an open economy; D = C + I + G + (X – M) Most Important (True / False)
Q11. Adjustable Peg System of Exchange Rate is also known as ________.
Q12. Balance of trade includes only __________ items. (visible, invisible) Most Important
Micro Economics
HBSE Class 12 Economics Chapter 1 – Introduction Important Questions 2024-25
Q1. Give the material welfare definition of Economics. Most Important
Q2. What is the difference between ‘micro-economics’ and ‘macro-economics’ ? Most Important
Q3. What is macro-economics? What are its scope ? Most Important
OR
What do you mean by Macro Economics? Most Important
Q4. Give scarcity definition of economics. Most Important
Q5. What is Micro-Economics ? Most Important
Q6. What is Economic Problem? And also explain the causes of economic problem. Most Important
Q7. There is no relationship between micro-economics and macro-economics. Most Important (True / False)
HBSE Class 12 Economics Chapter 2 – Theory of Consumer Behaviour Important Questions 2024-25
Q1. What are ‘Giffen goods’? Give examples. Most Important
Q2. What is Indifference Curve ? Most Important
Q3. Explain the characteristics of indifference curves. Most Important
Q4. What is price elasticity of demand? Explain the total expenditure method to measure it. Most Most Important
Q5. Define price elasticity of demand. Explain the proportionate method to measure it. Most Most Important
Q6. What is price elasticity of demand ? Explain the factors affecting it. Most Important
Q7. What is law of demand? Why does this law operates ? Most Most Important
Q8. Explain the Exceptions to the Law of Demand. Most Important
Q9. What is demand curve? Why does a demand curve slope downwards? Most Most Important
Q10. What is demand function ? Most Important
Q11. What is Supply ? Explain factors affecting Supply. Most Important
Q12. Distinguish between ‘Extension of ‘Supply’ and ‘Increase in Supply’ with the help of diagrams. Most Most Important
Q13. What are the causes of increase in Supply? Most Important
Q14. What are inferior goods ? Most Important
Q15. ‘Giffen Good’ is an exception to the law of demand. (True / False) Most Important (True / False)
Q16. Law of demand is applicable on ‘Giffen goods’. (True / False) Most Important (True / False)
Q17. The demand for Milk is inelastic. Most Important (True / False)
Q18. Co-efficient of elasticity is zero, when demand is perfectly elastic. Most Important (True / False)
HBSE Class 12 Economics Chapter 3 – Production and Costs Important Questions 2024-25
Q1. Distinguish between returns to a factor and returns to a scale. Most Most Important
Q2. What are returns to scale ? Most Important
Q3. Explain the relation between total product and marginal product with the help of diagram. Most Important
Q4. Explain the law of diminishing returns to factor with the help of table and diagram. Most Important
Q5. Explain the concept of fixed cost with the help of a table and diagram. Most Important
Q6. Calculate (i) total fixed cost, (ii) total variable. cost, (iii) average fixed cost, and (iv) average variable cost with the help of the given data: Most Important
| Production (Units) | 0 | 1 | 2 | 3 | 4 | 5 | 6 |
| Total Cost (रु) | 40 | 80 | 110 | 126 | 128 | 135 | 140 |
Q7. From the following data find out Average Cost (AC) and Marginal Cost (MC): Most Important
| Production (Units) | Total Cost (Rs.) | Average Cost (Rs.) | Marginal Cost (Rs.) |
| 1 | 20 | ______ | ______ |
| 2 | 28 | ______ | ______ |
| 3 | 34 | ______ | ______ |
| 4 | 38 | ______ | ______ |
| 5 | 42 | ______ | ______ |
Q8. A producer can not suffer loss in short period. (True / False) Most Important
HBSE Class 12 Economics Chapter 4 – The Theory of the Firm Under Perfect Competition Important Questions 2024-25
Q1. State any four differences between ‘Monopoly’ and ‘Perfect Competition’. Most Most Important
Q2. What is perfect competition? Discuss the short-run equilibrium of the firm in perfect competition by way of marginal approach. Most Most Important
Q3. What are the shapes of marginal revenue curve and average revenue curve under perfect competition ? Most Important
Q4. What is Perfect Competition ? Also explain four features of perfect competition. Most Important
Q5. What is oligopoly ? Explain its characteristics. Most Important
Q6. Define Oligopoly. Most Important
Q7. What do you understand by monopolistic competition ? Explain its characteristics in brief. Most Important
Q8. Explain the characteristics of perfect competitive market. Most Important
Q9. Discuss important characteristics of monopolistic competition market. Most Important
Q10. Explain difference between Monopoly and Monopolistic Competition. Most Important
Q11. What is Monopolistic Competition ? Explain its features. Most Important
Q12. Define monopoly and state its main features. Most Important
Q13. Discuss important characteristics of monopoly market. Most Important
Q14. Explain the characteristics of perfectly competitive market. Most Important
Q15. What is meant by ‘opportunity cost’? Most Important
Q16. From the following data find out MR and TR: Most Important
| Production (Units) | Average Price Income (Rs.) | Total Revenue (Rs.) | Marginal Revenue (Rs.) |
| 5 | 6 | ________ | ________ |
| 4 | 7 | ________ | ________ |
| 3 | 8 | ________ | ________ |
Q17. Selling costs occur under perfectly competitive market. Most Important (True / False)
Q18. Price discrimination is possible under __________. (monopoly, perfect competition) Most Important
HBSE Class 12 Economics Chapter 5 – Market Equilibrium Important Questions 2024-25
Q1. Explain the difference between ‘full employment equilibrium’ and ‘underemployment equilibrium’. Most Important
Q2. Explain the full employment equilibrium with the help of diagram. Most Most Important
Q3. Explain with diagram the effect of increase or decrease in demand on equilibrium price when supply remain constant ? Most Important
Q4. Write down the conditions for equilibrium of the firm. Most Important
Q5. Explain diagrammatically, the under employment equilibrium. Most Important