NATIONAL INSTITUTE OF OPEN SCHOOLING (NIOS) CLASS 12 ECONOMICS (318) IMPORTANT REVISION QUESTIONS FOR EXAM

 

(National Institute of Open Schooling)

 NIOS CLASS 12 ECONOMICS (318) REVISION QUESTIONS FOR EXAM 

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Note: These important questions are prepared by private teachers for the revision purpose of the students.

1. State the law of supply / demand.

2. What is meant by ‘government budget’? Distinguish between ‘plan’ and ‘non-plan’ expenditures of government.

3. What is a production possibility curve? With the help of a production possibility curve, explain ‘growth of resources’.

4. State any five features of economic policies before 1990–91.

5. Describe any four main features of Indian economy as a developing economy.

7. Explain any four long-term objectives of economic planning in India.

8. State any two precautions which must be taken while estimating national income by income method.

9. Explain the central problem ‘How to Produce’ with the help of an example.

10. Give the meaning of sustainable development. State four strategies of sustainable development.

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11. Distinguish between the following :

(a) Domestic product and National product

(b) Open economy and Closed economy

12. Explain the factors affecting market demand for a commodity. Explain three exceptions to the law of demand.

13. How is Price Elasticity of demand of a commodity affected by availability of its cross substitute? Explain.

14. Define Monopoly? Explain its various features.

OR

What is Perfect Competition? Explain its various features.

15. What is excess demand? How is equilibrium between demand and supply restored in case of excess demand?

OR

What is excess supply? How is equilibrium between demand and supply restored in case of excess supply?

16. Explain the various function of money.

17. State and explain the objectives of budgetary policy.

18. Why fiscal deficit is a better measure of deficit compared to budgetary deficit?

19. Explain the various functions of central bank.

20. Explain the relationship between propensity to consume and save.

Note: These important questions are prepared by private teachers for the revision purpose of the students.