(a) State any two precautions to be adopted while estimating National Income by Income Method.
OR
(b) Distinguish between 'Value of Output' and 'Value Addition'.
Class 12 · Economics · CBSE Board · 2022
Class 12 Economics 2022 Board Exam
39 questions from the 2022 Class 12 exam, combined from all 6 question paper sets (Set 1–6) with duplicates removed.
39questions
6exam sets
4chapters covered
2 / 3 / 5 / 6mark values
Note: The 2022 exams followed the special post-COVID two-term pattern, so this year has fewer questions than a regular year.
Questions from the 2022 exam first 10 of 39 — free
(a) Discuss briefly the problem of 'Double Counting', using a suitable example.
OR
(b) Distinguish between Real Gross Domestic Product and Nominal Gross Domestic Product, using a suitable numerical example.
Estimate the missing values (?), if the value of Gross Domestic Product at factor cost (GDPfc) by Expenditure Method and Income Method is ₹ 370 crore :
S. No. Items Amount
| S.No. | Particulars | Amount (in ₹ crore) |
|---|---|---|
| (i) | Compensation of Employees | 175 |
| (ii) | Private Final Consumption Expenditure | 210 |
| (iii) | Employers' Contribution to Social Security Schemes | 50 |
| (iv) | Net Indirect Taxes | 20 |
| (v) | Net Exports (–) | 20 |
| (vi) | Government Final Consumption Expenditure | ? |
| (vii) | Operating Surplus | ? |
| (viii) | Gross Domestic Fixed Capital Formation | 70 |
| (ix) | Mixed Income of Self-employed | 40 |
| (x) | Change in Stock | 60 |
| (xi) | Consumption of Fixed Capital | 70 |
(a) State any two precautions to be adopted while estimating National Income by Expenditure Method.
OR
(b) Distinguish between 'Final goods' and 'Intermediate goods'.
Estimate the missing values (?), if the value of Gross Domestic Product at factor cost (GDPfc) by Expenditure Method and Income Method is ₹ 920 crore :
S. No. Items Amount
| S.No. | Particulars | Amount (in ₹ crore) |
|---|---|---|
| (i) | Consumption of Fixed Capital | 170 |
| (ii) | Change in Stock | 140 |
| (iii) | Mixed Income of Self-employed | 180 |
| (iv) | Operating Surplus | ? |
| (v) | Gross Domestic Fixed Capital Formation | 140 |
| (vi) | Government Final Consumption Expenditure | ? |
| (vii) | Net Exports (–) | 50 |
| (vii) | Net Indirect Taxes | 60 |
| (ix) | Private Final Consumption Expenditure | 470 |
| (x) | Compensation of Employees | 375 |
| (xi) | Employers' Contribution to Social Security Schemes | 150 |
(a) State any two precautions to be adopted while estimating National Income by Value Added Method.
OR
(b) State any two precautions to be adopted while estimating National Income by Income Method.
(a) Using a suitable example, distinguish between positive externalities and negative externalities.
OR
(b) Using a suitable example, distinguish between stock variables and flow variables.
(a) Estimate the value of Nominal Gross Domestic Product (GDP) for a hypothetical economy. The values of Real Gross Domestic Product (GDP) and Price Index are given as ₹ 500 crores and 125 respectively.
OR
(b) Giving valid reasons explain, which of the following will not be included in the estimation of National Income in India ?
(i) Purchase of shares by an investor in the Bombay Stock Exchange.
(ii) Salaries paid by Indian Embassy situated at Japan, to the local workers.
(iii) Imputed rent of self occupied houses.
(a) (i) From the following data, calculate the value of Gross National Product at Factor Cost (GNPFC) :
S. No. Items Amount in
| S.No. | Particulars | Amount (₹ Crores) |
|---|---|---|
| (i) | Compensation of Employees | 12,000 |
| (ii) | Rent and Interest | 1,800 |
| (iii) | Indirect taxes | 1,120 |
| (iv) | Profits | 1,500 |
| (v) | Depreciation | 1,100 |
| (vi) | Subsidies | 210 |
| (vii) | Net Factor Income from Abroad (–) | 120 |
| (viii) | Mixed Income of Self Employed | 1,300 |
| (ii) | Distinguish between Rent and Royalty. |
OR
(b) (i) Calculate the value of 'Net Value Added at Factor Cost' (NVAFC) using the given data :
S. No. Items Amount in (₹ '000)
(i) Sale of Rice in the market. 580
(ii) Purchase of Tractor and Thrasher 400
(iii) Procurement of Rice by the government 20
(iv) Self consumption of Rice during the year 15
(v) Expenditure on running and maintenance of Tractor and Thrasher 20
(vi) Fertilizer subsidies received from the government 3
(ii) Distinguish between 'value of output' and 'value addition'.
(a) Estimate the value of Nominal Gross Domestic Product (GDP) for a hypothetical economy. The values of Real Gross Domestic Product (GDP) and Price Index are given as ₹ 1,000 crores and 250 respectively.
OR
(b) Giving valid reasons explain, which of the following will not be included in the estimation of National Income in India ?
(i) Purchase of shares by an investor in the Bombay Stock Exchange.
(ii) Salaries paid to Russians working in Indian Embassy in Russia.
(iii) Imputed rent of self occupied houses.
Chapters covered in the 2022 exam
About the 2022 Class 12 Economics paper
CBSE conducted the 2022 Class 12 Economics board exam in 6 question paper sets — students in different regions received different sets of the same exam. This page combines every set and removes repeated questions, giving you all 39 unique questions actually asked that year. The 2022 questions drew from 4 chapters of the syllabus.