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THE LUCKNOW PUBLIC SCHOOL
( a c.p. singh foundation)
A Leading Chain Of C.B.S.E. Schools in U.P.
HOME
ASSIGNMENT
XII: ECONOMICS
2019 - 2020
PREFACE
The home assignment , being given to the
students , aims at strengthening the concepts
of each student through reinforcement of
topics covered in class lectures by practicing
the questions given in the assignment.
Some sample papers in each subject have been
given.
The maximum benefit can be gained only if the
student goes through all the topics of fragment
1 thoroughly before attempting the sample
paper. The assignment will not only act as a
reinforcement tool but will also help the
students acquire the tendency of solving the
entire paper in one sitting, just like he/she sits
in an examination for three hours. Hence ,
improving student’s time management skill in
examination.
This assignment will also fetch the student 5
marks in practical. The solutions of all the
question papers given in the home assignment
have to be written on separate A-4 sheets.
For all the subjects , the assignments have to
be submitted in different folders respectively.
Last date to submit the assignment for each
subject 5th
July ’19.
- PRINCIPAL
ASSIGNMENT 1 : 2019-20
TIME:3 Hrs. ECONOMICS : XII MARKS: 80
General Instruction
1. Question no 1 to 10 & 18 to 27 are very short answer type carrying 1
marks each. They are required to be answer in one sentence each.
2. Question no 11-12 and 28-29 are short answer type carrying 3 marks
each. Answer to them should not exceed 60 words.
3. Question no 13 to 15 & 30 to 32 are also short answer type carrying 4
marks each. Answer to them should not exceed 70 words.
4. Question no 16 to 17 & 33 to 34 are long answer type carrying 6 marks
each. Answer to them should not exceed 100 words.
5. Answer should be brief and to the point and the above words limit should
be adhered to as far as possible.
PART - A : IED
1. Which industry received the major set back during the colonial rule? (1)
a. Cement b. Handicraft
c. Paper d. Iron and Steel
2. British rule introduced railways in India in the year_______. (1)
a. 1849 b. 1850 c. 1851 d. 1852
3. Which industry was adversely affected due to partition? (1)
a. Sillk b. Cotton c. Jute d. Nylon
4. Which year is described as a “Year of Great Divide”? (1)
a. 1931 b. 1921 c. 1941 d. 1911
5. When was the planning commission set up? (1)
a. 1949 b. 1950 c. 1956 d. 1850
6. Which of the following is not a goal of five year plan? (1)
a. Growth b. Equity
c. Land Reforms d. Modernisation
7. Capitalist Economy is controlled and operated by : (1)
a. Private Sector b. Mixed
c. Socialist d. None of these
8. Which of the following refers to relaxation of previous government restrictions?
(1)
a. Privatisation b. Globalisation
c. Disinvestment d. Liberalisation
9. WTO was estblished in the year________. (1)
a. 1995 b. 1948 c. 1996 d. 1994
10. Which of the following is not a policy initiated under New Economic Policy? (1)
a. Liberalisation b. Privatisation c. Globalisation d. Licensing
OR
When was the New Economic Policy announced?
a. June 1991 b. May 1991
c. July 1991 d. January 1991
11. “Decline of handicraft industry adversely affected the Indian economy”.
Comment. (3)
12. Explain the need and type of land reforms implemented in the agriculture
sector. (3)
OR
Explain ‘growth with equity’ as a planning objective.
13. Discuss the main reasons for India’s agricultural stagnation during the colonial
period? (4)
14. Explain how import substitution can protect domestic industry? (4)
15. Those public sector undertakings which are making profits should be privatsed.
Do you agree with this view? Why?
(4)
OR
Do you think outsourcing is good for India? Why are developed countries
opposing it?
16. Why and how was private sector regulated under the IPR 1956? (6)
17. Agriculture sector appears to be adversely affected by the reform process. Why?
(6)
OR
Discuss economic reforms in India in the light of social justice and welfare.
PART-B : MACRO ECONOMICS
18. Bank money is that money which is? (1)
a. Printed by RBI b. Printed by the government
c. Generated in the form of credit creation d. None of these
19. Which items are not included in M1? (1)
a. Inter bank deposits b. Other deposits with RBI
c. Currency and coins with public d. Net demand deposits with banks.
20. Which is termed as fiat money? (1)
a. Currency money b. Stock
c. Both (a) and (b) d. neither (a) nor (b)
21. Money supply consists of? (1)
a. Currency b. Deposit
c. Both currency and deposit d. none of the above
22. Which of the following is not helpful in controlling money supply? (1)
a. Free market policy b. Bank rate
c. CRR d. Change in margin requirements
23. Amount deposited with bank for a fixed period of time is called. (1)
a. time deposits b. current deposits
c. demand deposits d. saving deposits
24. Which is called the banker’s bank? (1)
a. State Bank of India b. Central Bank
c. Commercial Bank d. none of these
25. Budget is. (1)
a. financial statement b. political statement
c. monetary statement d. all of the above
26. Excess total expenditure over total receipts excluding borrowing is called. (1)
a. revenue deficit b. fiscal deficit
c. primary deficit d. budget deficit
27. Revenue receipts are equal to. (1)
a. disinvestment
b. borrowing
c. receipts from tax revenue and non-tax revenue
d. recovery of loss
OR
Borrowing is a capital receipt because
a. it creates liabilities b. it creates an asset
c. it reduces a liability d. all of the above
28. Describe the evolution of money? (3)
29. State the role of central bank as a banker to the government. (3)
OR
Explain ‘banker to the government’ function of central bank.
30. What is meant by capital receipts? Give three main heads under capital
receipts? (4)
OR
Give the meaning of revenue deficit, fiscal deficit and primary deficit.
31. Describe the four measures of money supply given by the Reserve Bank of
India? (4)
32. How does money overcome the problems of barter system? Explain briefly. (4)
33. Define a Central Bank. Explain the difference between a central bank and a
commercial bank. (6)
34. Discuss the main objectives of government budget. (6)
OR
Discuss the meaning and implications of fiscal deficit for an economy.
***************
ASSIGNMENT 2 : 2019-20
TIME:3 Hrs. ECONOMICS : XII MARKS: 80
GENERAL INSTRUCTION:
1. Question no 1 to 10 & 18 to 27 are very short answer type carrying 1
marks each. They are required to be answer in one sentence each.
2. Question no 11-12 and 28-29 are short answer type carrying 3 marks
each. Answer to them should not exceed 60 words.
3. Question no 13 to 15 & 30 to 32 are also short answer type carrying 4
marks each. Answer to them should not exceed 70 words.
4. Question no 16 to 17 & 33 to 34 are long answer type carrying 6 marks
each. Answer to them should not exceed 100 words.
5. Answer should be brief and to the point and the above words limit should
be adhered to as far as possible.
PART A: INTRODUCTORY MACROECONOMICS
Q1) Money supply is increased when LRR: 1
a) Falls b) Rises
c) Both (a) and (b) are possible d) None of the above
Q2) Which of the following is not the instrument of credit control? 1
a) CRR b) SLR
c) Bank rate d) Taxation
Q3) Repo rate is the rate at which: 1
a) Commercial banks purchase government securities from the central bank
b) Commercial banks can take loans from the central bank
c) Commercial banks can keep their deposits with the central bank
d) short term loans are given by commercial banks
Q4) Which of the following is a direct tax? 1
a) corporation tax b) Entertainment tax
c) Excise duty d) Service tax
Q5) Who supplies money In India? 1
a) RBI b) The commercial banks
c) The government d) All of these
Q6) What is credit money? 1
Q7) In India, coins are issued by: 1
a) SBI b) RBI
c) Ministry of finance d) Ministry of urban development
Q8) What is government budget? 1
Q9) What is value added tax? 1
Q10) If primary deficit ₹ 3,500 and interest payment is ₹ 500, then fiscal deficit is: 1
a) ₹2,900 b) ₹ 4,000 c) ₹4,100 d) ₹ 4,200
Q11) Explain the economic stability objective of a government budget. 3
Q12) What is meant by “selective credit control”? 3
Q13) Explain money creation by the commercial banks with the help of a numerical
example. 4
Q14) Classify the following into revenue receipts and capital receipts. Give reasons. 4
a) Loan from the World Bank.
b) Corporation tax
c) Sale of shares held by government of a public sector undertaking.
d) Dividend received by government from a company.
Q15) Explain the following functions of central bank: 4
a) Bank of issue b) Banker’s bank
Q16) What is meant by revenue deficit? What are the implications of this deficit? 6
Q17) How can “reverse repo rate” and “open market operations” control excess
money supply in an economy?
PART B: INDIAN ECONOMIC DEVELOPMENT:
Q18) India’s first official census was undertaken in: 1
a) 1951 b) 1947 c) 1881 d) 1921
Q19) How many five year plans in India have been completed so far? 1
a) 8 b) 10 c) 11 d) 12
Q20) Who is the chairman of NITI Aayog? 1
a) Prime minister b) Finance minister
c) President of India d) Governor RBI
Q21) In 1951 ---------------------- of the working population was dependent on
agriculture. 1
a) 60% b) 72% c) 80% d) 75%
Q22) When was TISCO incorporated in India? 1
Q23) State the life expectancy in India during British rule? 1
Q24) ………. refers to fixing the specified limits of land, which could be owned by an
individual . 1
a) Consolidation of holdings b) Cooperative farming
c) Tariff d) land ceiling
Q25) Objectives of planning in India are ……….. 1
a) Growth b) Self-reliance c) Modernization d) All
Q26) BPO means…………. . 1
a) Business policy outsources b) business process organization
c) Business process outsourcing d) None of the above
Q27) WTO is located in …………. . 1
a) Geneva b) Berlin c) New York d) Japan
Q28) What do you understand by the drain of Indian wealth during the colonial
period? 3
Q29) Why were reforms introduced in India? 3
Q30) “Show the economic reforms in India have led to jobless growth”. Use
appropriate data in support of your answer. 4
Q31) Why, despite the implementation of green revolution, 65 per cent of our
population continued to be engaged in the agriculture sector till 1990? 4
Q32) Explain”growth with equity “as a planning objective. 4
Q33) Why was it necessary for a developing country like India to follow self reliance
as a 6 planning objective?
Q34) Do you think various measures taken by the government to improve
agricultural marketing are sufficient? Discuss. 6
******
ASSIGNMENT 3 : 2019-20
TIME:3 Hrs. ECONOMICS : XII MARKS: 80
General instructions-
(i) Question no. 1-10 and 18-27 are multiple choice type carrying 1 marks each.
(ii) Question no. 11-12 and 28-29 are short answer type carrying 3 marks each.
answer to them should not exceed 60 words.
(iii) question no.13-15 and 30-32 are also short answer type carrying 4 marks each.
answers to them should not exceed 70 words.
(iv) Question no. 16-17 and 33-34 are long answer type carrying 6 marks each.
Answer to them should not exceed 100 words.
(v) Answers should be brief and to the point and the above word limits should be
adhered to as far as possible.
SECTION A- MACROECONOMICS
1. Bank money is that money which is: (1)
(a) Printed by RBI (b) Printed by the government
(c) Generated in the form of credit creation(d) None of these
2. Which measure of money supply is treated as Aggregate monetary resources of
the country. (1)
(a)M1 (b) M2 (c) M3 (d) M4
3. When money value of money exceeds commodity value of money, it is called: (1)
(a) full bodied money (b)credit money
(c) Fiat money (d) Fiduciary money
4. Dynamic function of money are related to: (1)
(a) Exchange of goods & services (b)Valuation of goods & services
(c) Transfer of wealth (d) Stability & growth of the country
5. If recession is to be combated: (1)
(a) Bank rate needs to be lowered (b)CRR needs to be lowered
(c) Both (a) & (b) (d) None of these
6. Credit cards issued by the banks: (1)
(a) encourage consumer spending (b) increase aggregate demand
(c) both (a) & (b) (d) None of these
7. Which of the following is a non tax receipt? (1)
(a) gift tax (b) sales tax
(c) donations (d) excise duty
8. Capital expenditure is that estimated expenditure of the government by which:1
(a) assets are increased (b) assets are decreased
(c) liability is increased (d) all of the above
9. The difference between fiscal deficit and interest payment is called: (1)
(a) revenue deficit (b)budget deficit
(c) capital deficit (d) primary deficit
10. In which of the following ways, can deficit in budget be financed: (1)
(a) borrowing from RBI (b) borrowing from public
(c) borrowing from rest of the world (d) all of the above
11. Government raises its expenditure on producing public goods. Which economic
value does it reflect? Explain. (3)
12. Explain how ‘CRR’ can be helpful in controlling credit creation. (3)
13. Explain “banker to the government” function of the central bank. (4)
14. Explain how introduction of money has led to the expansion of markets. (4)
15. Giving reason, state whether the following is a revenue expenditure or a capital
expenditure in a government budget. (4)
(i) Expenditure on scholarship.
(ii) Expenditure on building a bridge.
(iii) Expenditure on collection of taxes.
(iv) Expenditure on purchasing computers.
16. Differentiate between revenue deficit and fiscal deficit. Explain how taxes and
government expenditure can be used to influence distribution of income in the
society. (6)
17. RBI lowers repo rate from 6.5% to 6.25%. Analyse the economic value of this
statement from the viewpoint of (i) the households, (ii) investors, and (iii) the
economy. (6)
SECTION B-INDIAN ECONOMIC DEVELOPMENT
18. TISCO was established in: (1)
(a) 1857 (b) 1907 (c) 1921 (d) 1951
19. Who is the originator of green revolution in India: (1)
(a) Norman E.Bolaug (b) S.M.Swaminathan
(c) A.M.Khusro (d) None of these
20. Suez canal was opened for transport in: (1)
(a) 1850 (b) 1857 (c) 1881 (d) 1869
21. Who made the first attempt of calculating national income in India during
British period? (1)
(a) Findlay shirras (b) William digby
(c) Dada bhai naoroji (d) V.K.R.V.Rao
22. When was NITI Aayog established? (1)
(a) 1991 (b) 2001 (c) 2011 (d) 2015
23. Which of the following is not a public sector undertaking? (1)
(a) TISCO (b) GAIL (c) RBI (d) BHEL
24. Who is the present Governor of the RBI? (1)
(a) Urjit R.Patel (b) Raghuram G.Rajan
(c) Dr. Manmohan Singh (d) Shaktikant Das
25. MUDRA bank was set up to meet the credit needs of the: (1)
(a) Small enterprises (b) Exporters
(c) Large enterprises (d) Farmers
26. The biggest tax reform in the field of indirect tax is the implementation of: (1)
(a) VAT (b) Excise duty
(c) GST (d) Progressive tax
27. Which is not component of the New Economic Policy? (1)
(a) Import substitution (b) Financial sector reform
(c) Globalisation (d) Privatisation
28. India has certain advantages which makes it a favourite outsourcing
destination. What are these advantages? (3)
29. Does modernisation as a planning objective create contradiction in the light of
employment generation? Explain. (3)
30. While subsidies encourage farmers to use new technology, they are huge
burden on government finances. Discuss the usefulness of subsidies in the light
of this fact. (4)
31. What objectives did the British intend to achieve through their policies of
infrastructure development in India? (4)
32. Discuss economic reforms in India in the light of social justice and welfare. (4)
33. Give reasons, why were reforms introduced in India? (6)
34. What is the impact of exports in economic growth. Explain the foreign trade
policy adopted by government during 1950-90? (6)
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