Subject

Economics

Class

CBSE Class 12

Pre Boards

Practice to excel and get familiar with the paper pattern and the type of questions. Check you answers with answer keys provided.

Sample Papers

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 Multiple Choice QuestionsShort Answer Type

21.

Explain the relationship between income of the buyers and demand for a good.

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22.

How can increase in foreign direct investment affect the price of foreign exchange? 

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23.

What are demand deposits? 

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24.

Give one example of “externality” which reduces welfare of the people. 

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25.

Give two examples of indirect taxes. 

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26.

What is a Government Budget? 

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27.

Explain the problem of double coincidence of wants faced under barter system. How has money solved it? 

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28.

Distinguish between revenue expenditure and capital expenditure in Government budget. Give an example of each. 

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29.

Distinguish between revenue deficit and fiscal deficit.


Basis of Difference Revenue Deficit Fiscal Deficit
Meaning It may be defined as the excess of revenue expenditure of the government over its revenue receipts. It may be defined as the excess of the total budget expenditure over total budget receipts net of borrowings.
Significance A revenue deficit in the government budget imply that the routine receipts of the government are not enough to meet its routine expenditures A fiscal deficit signifies the borrowings of the Government i.e. the debt capital receipts of the government.
Formula Revenue Deficit = Revenue Expenditure − Revenue Receipts Fiscal Deficit = Total Budget Expenditure − (Total Budget Receipts − Borrowings)
i.e. Fiscal Deficit = Borrowings
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30.

Explain any one objective of Government Budget. 

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