CLASS 12 CBSE TERM2 ECONOMICS SPECIMEN 2022
BOARD -
CLASS -
SUBJECT -
CBSE
12th
ECONOMICS
Paper Pattern for Written Term-I
TIME -
MARKS -
1 Hour 30 Minutes
40
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Solved Specimen Paper Semester-2 2022
Q1
Distinguish between Final Goods and Intermediate Goods.
OR
Distinguish between positive externalities and negative externalities
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OR
Distinguish between positive externalities and negative externalities
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Q2
Calculate equilibrium level of income for a hypothetical economy, for which it is given that:
OR
Calculate Change in Income (ΔY) for a hypothetical economy.Given that:
solutions
- Autonomous Investments=₹ 500 crores, and
- Consumption function, C = 100 + 0.80Y
OR
Calculate Change in Income (ΔY) for a hypothetical economy.Given that:
- Marginal Propensity to Consume (MPC) = 0.8, and
- Change in Investment (ΔI)= ₹1,000 crores
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Q3
‘As the income increases, people tend to save more’. Justify the given statement
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Q4
State and discuss any two indicators that help in measuring the health status of a country.
Or
Compare and analyze the ‘Women Worker Population Ratio’ in on following information:
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Or
Compare and analyze the ‘Women Worker Population Ratio’ in on following information:
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Q5
‘Investment in infrastructure contributes to the economic development of a country.’
Justify the given statement with a valid argument.
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Justify the given statement with a valid argument.
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Q6
Giving valid reasons explain which of the following will not be included in estimation of
National Income of India?
Or
Estimate the value of Nominal Gross Domestic Product for a hypothetical economy, the value of Real Gross Domestic Product and Price Index are given as ₹500 crores and 125 respectively.
solutions
- Purchase of shares of X. Ltd. by an investor in the National Stock Exchange.
- Salaries paid by the French Embassy, New Delhi to the local workers of the housekeeping department.
- Compensation paid by the Government of India to the victims of floods.
Or
Estimate the value of Nominal Gross Domestic Product for a hypothetical economy, the value of Real Gross Domestic Product and Price Index are given as ₹500 crores and 125 respectively.
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Q7
Study the following information and compare the Economies of India and Singapore on the
grounds of ‘Investment in infrastructure as a percentage of GDP’
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Read the following text carefully and answer question number 8 and 9 given below:
SINO-PAK FRIENDSHIP CORRIDOR
The China-Pakistan Economic Corridor (CPEC) has deepened the decades-long strategic relationship between the two nations. But it has also sparked criticism for burdening Pakistan with mountains of debt-trap diplomacy to gain access to and allowing China to use its debt strategic assets of Pakistan.
The foundations of CPEC, part of China’s Belt and Road Initiative, were laid in May 2013. At the time, Pakistan was reeling under weak economic growth. China committed to play an integral role in supporting Pakistan’s economy
Pakistan and China have a strategic relationship that goes back decades. Pakistan turned to China at a time when it needed a rapid increase in external financing to meet critical investments in hard infrastructure, particularly power plants and highways. CPEC’s early harvest projects met this need, leading to a dramatic increase in Pakistan’s power generation capacity, bringing an end to supply-side constraints that had made rolling blackouts a regular occurrence across the country
Pakistan leaned into CPEC, leveraging Chinese financing and technical assistance in an attempt to end power shortages that had paralyzed its country’s economy. Years later, China’s influence in Pakistan has increased at an unimaginable pace.
China As Pakistan’s Largest Bilateral Creditor: China’s ability to exert influence on Pakistan’s economy has grown substantially in recent years, mainly due to the fact that Beijing is now Islamabad’s largest creditor. According to documents released by Pakistan’s finance ministry, Pakistan’s total public and publicly guaranteed external debt stood at $44.35 billion in June 2013, just 9.3 percent of which was owed to China. By April 2021, this external debt had ballooned to $90.12 billion, with Pakistan owing 27.4 percent —$24.7 billion — of its total external debt to China, according to the International Monetary Fund (IMF).
Additionally, China provided financial and technical expertise to help Pakistan build its road infrastructure, expanding north-south connectivity to improve the efficiency of moving goods from Karachi all the way to Gilgit-Baltistan (POK). These investments were critical in better integrating the country’s ports, especially Karachi, with urban centers in Punjab and Khyber-Pakhtunkhwa provinces
Despite power asymmetries between China and Pakistan, the latter still has tremendous agency in determining its own policies, even if such policies come at the expense of the long-term socioeconomic welfare of Pakistani citizen
The China-Pakistan Economic Corridor (CPEC) has deepened the decades-long strategic relationship between the two nations. But it has also sparked criticism for burdening Pakistan with mountains of debt-trap diplomacy to gain access to and allowing China to use its debt strategic assets of Pakistan.
The foundations of CPEC, part of China’s Belt and Road Initiative, were laid in May 2013. At the time, Pakistan was reeling under weak economic growth. China committed to play an integral role in supporting Pakistan’s economy
Pakistan and China have a strategic relationship that goes back decades. Pakistan turned to China at a time when it needed a rapid increase in external financing to meet critical investments in hard infrastructure, particularly power plants and highways. CPEC’s early harvest projects met this need, leading to a dramatic increase in Pakistan’s power generation capacity, bringing an end to supply-side constraints that had made rolling blackouts a regular occurrence across the country
Pakistan leaned into CPEC, leveraging Chinese financing and technical assistance in an attempt to end power shortages that had paralyzed its country’s economy. Years later, China’s influence in Pakistan has increased at an unimaginable pace.
China As Pakistan’s Largest Bilateral Creditor: China’s ability to exert influence on Pakistan’s economy has grown substantially in recent years, mainly due to the fact that Beijing is now Islamabad’s largest creditor. According to documents released by Pakistan’s finance ministry, Pakistan’s total public and publicly guaranteed external debt stood at $44.35 billion in June 2013, just 9.3 percent of which was owed to China. By April 2021, this external debt had ballooned to $90.12 billion, with Pakistan owing 27.4 percent —$24.7 billion — of its total external debt to China, according to the International Monetary Fund (IMF).
Additionally, China provided financial and technical expertise to help Pakistan build its road infrastructure, expanding north-south connectivity to improve the efficiency of moving goods from Karachi all the way to Gilgit-Baltistan (POK). These investments were critical in better integrating the country’s ports, especially Karachi, with urban centers in Punjab and Khyber-Pakhtunkhwa provinces
Despite power asymmetries between China and Pakistan, the latter still has tremendous agency in determining its own policies, even if such policies come at the expense of the long-term socioeconomic welfare of Pakistani citizen
Q8
Outline and discuss any two economic advantages of China Pakistan Economic Corridor
(CPEC) accruing to the economy of Pakistan
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Q9
Analyse the implication of bilateral ‘debt-trap’ situation of Pakistan vis-à-vis the Chinese
Economy.
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Q10
Explain how ‘Non-Monetary Exchanges’ impact the use of Gross Domestic Product as an
index of economic welfare.
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Q11
‘Monetary measures offer a valid solution to the problem of Inflationary gap in an economy’.
State and discuss any two monetary measures to justify the given statement
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Q12
(a) From the following data calculate the value of Domestic Income:
b) Distinguish between ‘Value of Output’ and ‘Value Added’.
Or
a) Given the following data, find Net Value Added at Factor Cost by Sambhav (a farmer) producing Wheat:
b) State any two components of ‘Net Factor Income from Abroad’.
solutions
| S.No. | ITEMS | Amount (in ₹ Crores) |
|---|---|---|
| i) | Compensation of Employees | 2,000 |
| ii) | Rent and Interest | 800 |
| iii) | Indirect Taxes | 120 |
| iv) | Corporate Tax | 460 |
| v) | Consumption of Fixed Capital | 100 |
| vi) | Subsidies | 20 |
| vii) | Dividend | 940 |
| viii) | Undistributed Profits | 300 |
| ix) | Net Factor Income from Abroad | 150 |
| x) | Mixed Income of Self Employed | 200 |
b) Distinguish between ‘Value of Output’ and ‘Value Added’.
Or
a) Given the following data, find Net Value Added at Factor Cost by Sambhav (a farmer) producing Wheat:
| S.No. | ITEMS | (₹ in crore) |
|---|---|---|
| i) | Sale of wheat by the farmer in the local market | 6800 |
| ii) | Purchase of Tractor | 5000 |
| iii) | Procurement of wheat by the Government from the farmer | 200 |
| iv) | Consumption of wheat by the farming family during the Year | 50 |
| v) | Expenditure on the maintenance of existing capital stock | 100 |
| vi) | Subsidy | 20 |
b) State any two components of ‘Net Factor Income from Abroad’.
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Q13
a) ‘Pesticides are chemical compounds designed to kill pests. Many pesticides can also pose
health risks to people even if exposed to nominal quantities. ‘
In the light of the above statement, suggest any two traditional methods for replacement of
the chemical pesticides.
b) ‘In recent times the Indian Economy has experienced the problem of Casualisation of the workforce. This problem has only been aggravated by the outbreak of COVID-19.’ Do you agree with the given statement? Discuss any two disadvantages of casualisation of the workforce in the light of the above statement.
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b) ‘In recent times the Indian Economy has experienced the problem of Casualisation of the workforce. This problem has only been aggravated by the outbreak of COVID-19.’ Do you agree with the given statement? Discuss any two disadvantages of casualisation of the workforce in the light of the above statement.
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