ISC (Commerce)
ISC (Arts)
(Science)
Academic Year: 2021-2022
Date: April 2022
Duration: 1h30m
Note :
- Candidates are allowed an additional 10 minutes for only reading the paper.
- They must NOT start writing during this time.
- Answer all questions in Section A, Section B and Section C.
- The intended marks for questions or parts of questions are given in brackets. [ ]
Firm A sells flour to firm B for ₹ 100/- Firm B sells biscuits to the wholesaler C for ₹ 160/- and Firm C sells biscuits to consumers for ₹ 200/-. Hence, the gross value added is ______.
₹ 460/-
₹ 305/-
₹ 244/-
₹ 200/-
Chapter: [6.02] Concepts and Definition
Medium of exchange and measure of value is ______.
Primary functions of money
Secondary functions of money
Tertiary functions of money
Contingent functions of money
Chapter: [0.031] Money
Aggregate supply is equal to ______.
C + I
C + S
I + C
S1 + S2
Chapter: [0.02] Theory of Income and Employment
Transfer earning in National income refers to ______.
transfer of income from one person to another.
income received by selling goods.
unilateral payment received not related to any production.
earning received by offering services.
Chapter: [6.03] Methods of Measuring National Income
A consumer spending on the purchase of goods regardless of the income in possession is an example of _______ consumption.
Chapter: [0.02] Theory of Income and Employment
______ is the creation of new currency to fill the gap between Government revenue and Government expenditure of the country.
Chapter: [0.051] Fiscal Policy
GNP(fc) = GNP(mp) - ______.
Chapter: [6.02] Concepts and Definition
Give one difference between a Direct tax and an Indirect tax.
Chapter: [0.051] Fiscal Policy
Distinguish between:
Cash Reserve Ratio and Statutory Liquidity Ratio
Chapter: [0.032] Banks
Briefly explain two reasons for the adverse Balance of Payments in any economy.
Chapter: [4.01] Balance of Payment
Draw a well labelled diagram of two sector model of a circular flow of income including the financial sector.
Chapter: [6.01] Circular Flow of Income.
Complete the following schedule -
| Y | C | APC | MPC |
| 100 | 90 | ? | ? |
| 120 | 108 | ? | ? |
Chapter: [0.02] Theory of Income and Employment
Differentiate between Cash Credit and Outright Loans.
Chapter: [0.032] Banks
Differentiate between devaluation and depreciation.
Chapter: [4.01] Balance of Payment [4.01] Balance of Payment
What is meant by the following function of the Central bank:
Clearing house
Chapter: [0.032] Banks
What is meant by the following function of the Central bank:
Lender of the last resort
Chapter: [0.032] Banks
What is meant by Equilibrium income?
Chapter: [0.02] Theory of Income and Employment
How is it determined by using Saving and Investment approach?
Chapter: [0.02] Theory of Income and Employment
Discuss the mechanism of investment multiplier with the help of a numerical.
Chapter: [0.02] Theory of Income and Employment
How is the rate of exchange determined in a flexible exchange rate system?
Chapter: [4.01] Balance of Payment
Explain the steps involved in calculating the National income by Income method.
Chapter: [6.03] Methods of Measuring National Income
Explain the following method of redemption of Public Debt:
Debt conversion
Chapter: [0.051] Fiscal Policy
Explain the following method of redemption of Public Debt:
Sinking fund
Chapter: [0.051] Fiscal Policy
Read the given extract carefully and answer the following questions.
| Mr. X wanted to buy an expensive motorcycle for his son but he did not have sufficient money to buy it. He approached a public sector commercial bank for the loan. The bank asked Mr. X to deposit 20% cash of the loan amount and rest 80% of the loan amount was given by the bank. |
- Briefly explain a Commercial Bank.
- What is the regulation of consumer credit in selective credit control?
- Name the bank which controls all the commercial banks and financial institutions in the country.
Chapter: [0.032] Banks
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CISCE previous year question papers Class 12 Economics with solutions 2021 - 2022
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