XII- Economics - Important Questions Jayarani Matric. Hr. Sec. School, Nethimedu, Salem-2.
com
Lesson - 01 2 Marks
1.Define Macro Economics.
2.Define the term Inflation.
3.What is meant by an Economy?
4. Classify the economies based on status of develop- 4. Indicate the demerits of socialism.
ment.
5. What do you mean by Capitalism?
6. Define ‘Economic Model’?
7. ‘Circular Flow of Income’ - Define.
8. What are the phases of Trade Cycle?
9. What are the models of circle flow of income?
Lesson - 02 10. Write a short note on per capita income.
10. Define National Income.
11. Write the formula for calculating GNP.
12.What is the difference between NNP and NDP?
13. Trace the relationship between GNP and NNP.
14. What do you mean by the term ‘ Personal Income’?
15. Define GDP deflator.
16. Why is self consumption difficult in measuring
N.I.?
17. What is PQLI? And Its components
18. What is factor cost?
Lesson - 03
19. Give the meaning of full employment?
20. What is the main feature of rural unemployment?
21. Give short note on Frictional Unemployment.
22. Give reasons for labour retrenchment at present
situation.
23. List out the assumptions of Say’s Law/
24. What is effective demand?
25. What are the components of Aggregate Supply
26 What is Money Supply?
27. What is Say’s Law?
M.Shanmugam M.Sc.,M.A., B.Ed.,M.Phil., PGDCA.,(MFM).,
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3 Marks 5 Marks
1. State the importance of Macro Economics. 1. Discuss the scope of Macro Economics
2. Describe the different types of economic systems. 2.Compare the features among Capitalism, Secular-
3. Outline the major merits of capitalism. ism and Mixedism.
3.Illustrate the functioning of an economy based on it-
5. Enumerate the features of Mixed Economy. sactivities.
6. Distinguish between Capitalism and Globalism. * Circular flow diagram
7. Briefly explain the two sector circular flow model. * Phases of Trade Cycle
8. Explain are the Demerits if Capitalism.
9. Write short note on Stock and Flow Variables.
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4. Explain the importance of National Income.
11. Differentiate between personal and disposable 5. Discuss the various methods of estimating
income.
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12. Explain briefly NNP at factor cost.
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6. What are the difficulties involved in the measure-
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13. Give short note on Expenditure Method.
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ment of NI.?
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14. What is the solution to the problem of double count- 7. Discuss the importance of social accounting in
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ing in the estimation of National Income? economic analysis.
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15. Write briefly about national income and welfare.
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* Give an account of the 5 types of final goods and
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16. List out the uses of National Income. services included in GNP”
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17. What are the difficulties in measuring N. I.? * List out a few stastical problems in calculation N.I
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18. What is Output Method? What is its major chal-
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lenge?
19. Explain the Sesonal Unemployment, frictional Un- 8. Descirbe the types of Unemployment.
employment and Educated Unemployment. 9. Critically explain Say’s Law of market.
20.According to classical theory of employment,how
wage reduction solve the problem of unemployment • Narrate the equiliburim between ADFs and ASF.
diagramatically explain. With diagram.
21. Write short note on the implications of Say’s Law.
• Effective demand in detail
22. Explain Keyne’s theory in the form of flow chart.
23. What do you Aggregate demand? Mention its • Who issues (a) Currency Notes (b) Coins
components.
24. Explain about Aggregate Supply with the help of
diagram.
25. Write any five differences between Classism and
Keynesianism.
26. Describe the types of Unemployment.
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XII- Economics - Important Questions
Lesson - 04 2 Marks
28. What is consumption?
29. What do you mean by Propensity to Consume?
30. Define Average Propensity to Consume (APC).
31. Define Marginal Propensity to Consume (MPC). ment
32. What do you mean by Propensity to Save?
33. Define Average Propensity to Save (APS).
34. Define Marginal Propensity to Save (MPS).
35. Define Multiplier.
36. Define Accelerator.
37. What are the assumption of Keynes Psychological 32. specify the limitations of the Multiplier.
Law of consumption function.
38. Write the meaning of investment.
Lesson - 05
39. Define Money.
40. What is Barter?
41. What is commodity money?
42. What is Gold Standard?
43. What is Plastic Money? Give example.
44. Define Inflation.
45. What is Stagflation?
46. Explain the history of Barter System.
47. Write a note on Paper Currency Standard?
Lesson - 06
48. Define Commercial Banks.
49. What is Credit Creation?
50. Define Central Bank.
51. Distinguish between CRR and SLR.
52. Write the meaning of Open Market Operation?
53. What is Rationing of Credit?
54. Mention the functions of agriculture credit de-
partment.
55. Define Paytm.
56. What are the objectives of Montary Policy?
M.Shanmugam M.Sc.,M.A., B.Ed.,M.Phil., PGDCA.,(MFM).,
Jayarani Matric. Hr. Sec. School, Nethimedu, Salem-2. www.kalviulagam.com
3 Marks 5 Marks
27. State the proportions of Keynes’s Psychological 10. Explain Keynes Pshychological Law of consump-
Law of Consumption. tion function with diagram.
28. Differentiate Autonomous and Induced Invest-
11. Briefly explain the Subjective and Objective fac-
29. Explain any 3 Subjective and objective factors influ- tors of Consumption Function.
encing the conusmption function.
30. Mention the difference between Accelerator and • Differentiate between Classical and Keynes Theory.
Multiplier Effect. • What are the difference between MEC and MEI?
31. State the concept of Super Multiplier. • Leakage of Multiplier
• Working of Multiplier.
33. Mention the assumptions of Multiplier.
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• Why does the consumption curve start Y axis
• What is signigicance of the 45 Degree line
(Book Page 57)
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34. Write a note on Metallic Money.
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12. Illustrate Fisher’s Quantity theory of Money
35. What is Money Supply?
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36. What are the determinants of money supply? 14. What are the causes and effects of inflation on
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37. Write the types of Inflation. the economy?
38. Explain Demand-Pull and Cost-Push Inflation. 15. Describe the phases of Trade Cycle.
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39. State Cambridge Equation of value of money.
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40. Explain Disinflation.
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41. Write the mechanism of credit creation by commer- 16. Explain the role of Commercial Banks in
cial banks. Economic Development.
42. Give a brief note on NBFI. 17. Elucidate the functions of Reserve Bank of India.
43. Bring out the methods of credit control. 18. Describe the functions of Commercial Banks.
44. What are the functions of NABARD? 19. What are the objectives of Monetary Policy? Ex-
45. Specify the functions of IFCI. plain.
46. Distinguish between Money Market and Capital
Market. • Explain Quality Credit Control.
47. Mention the objectives of Demonetization. • Traverlers Cheque
48. State the implications of ATM. • Distinguish between cheap money and dear money
policy.
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XII- Economics - Important Questions
Lesson - 07 2 Marks
57. What is International Economics?
58. What is the main difference between Adam Smith and nomics.
Ricardo with regard to the emergence of foreign trade?
59. State any two merits of Trade.
60. Define InternationaL Trade.
61. Define Terms of Trade.
62. What do youn mean by Balance of Payments?
63. What is menat by Exchange Rate?
64. What are the component of Balance of Payment 54. Write a brief note on Flexible Exchange Rate.
Disequilibrium?
• Explain the advantages of FDI.
• State the meaning of Free Trade Area.
Lesson - 08
65. Write the meaning of Special Drawing Rights.
66. Mention any two objectives of ASEAN.
67. Point out any ways in which IBRD lends to member countries.
68. Define Common Market.
69. What is free trade area?
70. When and where was SAARC Secretariat established?
71. Specify any two affiliates of World Bank Group.
72. Write a short note of IMF.
73. List out the functions of IMF.
74. Write a short note on World Trade Organisation.
75. What are major difference between IMF
and World Bank?
76. Define Public Finance. Lesson - 09
77. What is Public Revenue?
78. Differentiate Tax and Fee.
79. Write a short note on Zero Based Budget.
80. Give two examples for Direct Tax.
81. What are the components of GST?
82. What do you mean by Public Debt?
83. What is Canons of Taxation?
84. What is Direct Tax? What are the example of Direct Tax? 71. Mention any 3 methods of Redemption of Public • Give a brief account on TRIMS
85. What is Indirect Tax?What are the example of Direct Tax?
86. Define Public Expenditure.
87. Define - “Escheats”.
M.Shanmugam M.Sc.,M.A., B.Ed.,M.Phil., PGDCA.,(MFM).,
Jayarani Matric. Hr. Sec. School, Nethimedu, Salem-2. www.kalviulagam.com
3 Marks 5 Marks
49. Describe the subject matter of International Eco- 20. Discuss the difference between Internal Trade
and International Trade.
50. Compare the Classical Theory of International Trade 21. Explain the relationship between Foreign Direct
with Modern Theory of International Trade. Investment and Economic Development.
51. Explain the Net Barter Terms of Trade and Gross
22. Discuss the Modern Theory of International Trade.
Barter Terms of Trade.
52. Distinguish between Balance of Trade and Bal- 23. Explain the types of Terms of Trade given by Viner.
ance of Payments. 24. Bring out th components of Balance of Payments
53. What are import quotas? account.
25. Discuss the various types of disequilibrium in
55. State the objectives of Foreign Direct Investment. the balance of payments.
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56.What are the Determinants of Exchange Rates? 26. How the Rate of Exchange is determined? Illustrate.
57. What are the major sectors benefited from FDI in 27. Explain briefly the Compartive Cost Theory.
India?
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58. What are the general advantages of International
• Gains from the International Trade
Trade?
am • Discuss the role of WTO in indias social economic
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development.
59. Mention the various forms of Economic Integra-
tion.
l a 28. Explain the objectives of IMF.
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60. What are Trade Blocks? 29. Bring out the functions of World Bank.
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61. Mention any 3 lending programmes of IMF.
• Write a shott note on (a) SAARC (b) BRICS
62. What is Multilateral Agreement?
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63. Write the agenda of BRICS Summit 2018.
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64. State briefly the functions of SAARC.
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• List the Group of World Bank.
w • List out Official Reverse Assests
• Write a note on Sinking Fund.
65. Describe the Canons of Taxation. 30. Explain the scope of Public Finance.
66. Mention any 3 similarities between Public finance 31. State and explain instruments of Fiscal Policy.
and Private finance. 32. Describe the various types of deficit in budget.
67. What are the functions of a Modern State? 33. What are the reasons for the recent growth in
68. State any 4 characteristics of taxation. public expenditure?
69. Point out any 3 differences between direct tax and
indirect tax. • Buffer Stock facility.
70. What is Primary Deficit? • Differentiate the Internal and External Public Debt.
Debt. • write a short note on (a) Debit Card (b) Credit Card
72. Comparison between the Direct and Indirect Taxes. • Bring out the merits of Indirect tax.
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XII- Economics - Important Questions Jayarani Matric. Hr. Sec. School, Nethimedu, Salem-2. www.kalviulagam.com
Lesson - 10 2 Marks 3 Marks 5 Marks
88. State the meaning of Environment. 73. Brief the linkage between economy and environ- 34. Explain the importance of sustainable development
89. What do you mean by Eco-System? ment. and its goals.
90. Mention the countries where per capita 74. Specify the meaning of Material Balance Principle. 35. Explain the concepts of externality and its clas-
Carbondioxide Emission is the highest in the world. 75. Explain different types of Air Pollution. sification.
76. What are the causes of Water Pollution?
91. What are the remedial measures to control noise 77. State the meaning of E-waste. 36. Briefly explain the relationship between GDP
pollution? 78. What is land pollution? Mention the coauses of growth and the quantity of environment.
92. What are Environmental goods? Give Examples. Land Pollution.
93. Define Global Warming. 79. Write a note on a)Climate Change b) Acid Rain. • Explain the effects and remedial measures to con-
94. Specify the meaning of Seed Ball. • Write a note on the ‘Lungs of the Earth’ trol water pollution.
95. Define Externalities. • Write a note on
96. Define the Environment Quality. a)Organic Farming
• What is Physical Planning?
b) Global Warming

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97. Write any major Water Pollutants.
Lesson - 11
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80. Elucidate major causes of vicious circle of poverty 37. Discuss the economic determinants of economic

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98. Define Economic Development. with diagram. development.
99. Mention the indicators of development.
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81. What are the non-economic factors determining 38. Describe different types of planning.
100. Distinguish between Economic Growthand De- development?
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velopment. 82. How would you break the vicious circle of pov- • Bring out the arguments Favourable planning.
101. What is GNP?
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erty? • What are the functions of NITI Aayog.
102. Define Economic Planning. 83. Trace the evolution of economic planning in India. • What are the functions of Modern State.
103. What are the social indicators of economic devel-
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84. Describe the case for planning. • “Deficit financing leads to Inflation” - Justify.

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opment? 85. Distinguish between Functional and Structural

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104. Write a short note on NITI Aayog. Planning.

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105. What do you mean by economic development? 86. Explain NITI Aayog.
106. What are the two approaches of economic devel-
opment?
107. Mention the predominant characters of UDCs. 39. Elucidate the nature and scope of Statistics.
108. Write the meaning of the term “Underdevelop- 40. Calculate the Karl Pearson Correlation Co-efficient
ment”. 87. What are the functions of Statistics? for the following data.
Lesson - 12 88. Find the Standard Deviation of the following 41. Find the Regression Equation Y on X and X on Y for
109. What is statistics? data 14,22,9,15,20,17,12,11. the following data.
110. What are the kinds of Statistics? 89. State the explain the different kinds of Correlation. 42. Describe the application of Econometrics in Eco-
111. What do you mean by Inferential Statistics? 90. Mention the uses of Regression Analysis. nomics.
112. What are the kinds of data? 91. Specifiy the objectives of Econometrics. • Bring out Objectives and methodology of Econo-
113. Define Correlation. 92. Differentiate the economic model with Economet- metrics.
114. Define Regression. ric Model. • Explain Standard Deviation.
115. What is Econometrics? 93. Discuss the important statistical organizations (Of- • Differentiate Descriptive statistics and Inferential
116. Distinguish between simple and multiple correlation” fices) in India. Statistics.
M.Shanmugam M.Sc.,M.A., B.Ed.,M.Phil., PGDCA.,(MFM)., Mobile : 88254 - 30366
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