Economics Worksheets for Class 12 have been designed as per the latest pattern for CBSE, NCERT and KVS for Grade 12. Students are always suggested to solve printable worksheets for Economics Grade 12 as they can be really helpful to clear their concepts and improve problem solving skills. We at worksheetsbag.com have provided here free PDF worksheets for students in standard 12 so that you can easily take print of these test sheets and use them daily for practice. All worksheets are easy to download and have been designed by teachers of Class 12 for benefit of students and is available for free download.
Economics Worksheets for Class 12
We have provided chapter-wise worksheets for class 12 Economics which the students can download in Pdf format for free. This is the best collection of Economics standard 12th worksheets with important questions and answers for each grade 12th Economics chapter so that the students are able to properly practice and gain more marks in Class 12 Economics class tests and exams.
Chapter Wise Class 12 Economics Multiple Choice Questions
Part A – Microeconomics
Part B – Macroeconomics
Case Study Class 12 Economics with Answers
CASE STUDY 1
Read the following hypothetical text and answer the given questions:
India’s Micro, Small and Medium Enterprises (MSME) sector is poised for a mega transformation in 2020, with the launch of an Alibaba-like e- marketplace, trendy yet affordable khadi products to appeal to the masses and digital data-based credit ratings to help entrepreneurs avail loans.However, the MSME sector, often considered the bulwark of the economy as it contributes around 29% to the GDP and 48% to the Indian exports.
There is an urgent need of major reforms and policy interventions towards ensuring timely availability of low cost credit, improving ease of doing business and technological up gradation, to take on the formidable challenge of creating millions of jobs, ensure equitable distribution of national income and achieving large-scale import substitution.The World Bank has recently approved loan worth $750 million to address the immediate liquidity and credit needs of India’s MSME sector that has been severely impacted by the Covid-19 crisis. This will give a push to the Atmanirbhar Bharat vision of the government.
Question: Identify which of the following is not an advantage of the MSME sector? (Choose the correct alternative)
a) It is suited for the utilization of local resources.
b) It is helpful in creation of employment opportunities
c) It requires more capital than labour
d) It ensures equitable distribution of income in the country.
Answer: c) It requires more capital
Question: MSME sector suffered to a large extent in COVID-19 pandemic situation due ________(fill up the blank with correct answer)
Answer: a) Liquidity crunch
Question: Read the following statements – Assertion (A) and Reason ( R)
Assertion (A): Small scale industries ensure a more equitable distribution of national income and wealth.
Reason (R): The ownership of small scale industries is more wide spread than the ownership of large scale industries.
Select the correct alternative from the following:
a)Both Assertion (A) and Reason ( R) are true.
b) Both Assertion (A) and Reason (R) are false.
Answer: a)Both Assertion (A) and Reason ( R) are true.
Question: State whether the given statement is true or false:
Small Scale Industries are the largest employer of the labour force in India.
Answer: False
CASE STUDY – 2
Read the following hypothetical text and answer the given questions:
The performance of Indian economy during the period of first seven five year plans (1950-1990) was satisfactory if not very impressive. On the eve of independence, India was an industrially backward country, but during this period of first seven plans our industries became far more diversified, with the stress being laid on the public investments in the industrial sector.
The policy of import substitution led to protection of the domestic industries against the foreign producers but we failed to promote a strong export surplus. Although public sector expanded to a large extent but it could not bring desired level of improvement in the secondary sector. Excessive government regulations prevented the natural trajectory of growth of entrepreneurship as there was no competition, no innovation and no modernization on the front of the industrial sector.
Many Public Sector Undertakings (PSU’s) incurred huge losses due to operational inefficiencies, red-tapism, poor technology and other similar reasons. These PSU’s continued to function because it was difficult to close a government undertaking even it is a drain on country’s limited resources.
On the Agricultural front, due to the measures taken under the Green Revolution, India more or less became self-sufficient in the production of food grains.
So the needs for reform of economic policy was widely felt in the context of changing global economic scenario to achieve desired growth in the country.
Question: Which of the followingwas not a reason for the public sector to play a major role in the initial phase of Indian Economic Planning? (choose the correct alternative)
a) Private entrepreneurs lacked sufficient capital for investment.
b) Government aimed at social welfare.
c) The market was big enough to encourage private industrialists for investment.
d) The government wanted to protect the indigenous producers from the foreign competition.
Answer: c) The market was big enough to encourage private industrialists for investment.
Question: Inward looking trade strategy aimed at _________ (fill up the blank with correct answer)
Answer: protecting domestic industries from international competition.
Question: State whether the given statement is true or false:
Mechanization of the Indian agriculture was one of thecause of Green Revolution in India.
Answer: True
Question: Read the following statements – Assertion (A) and Reason ( R)
Assertion (A): Many public sector undertakings incurred huge losses due to operational inefficiencies.
Reason (R): Red-tapism was one of the reasons for continuation of such enterprises.
Select the correct alternative from the following:
a) Both Assertion (A) and Reason (R) are true.
b) Both Assertion (A) and Reason (R) are false.
Answer: a) Both Assertion (A) and Reason (R) are true.
CASE STUDY – 3
Read the following hypothetical text and answer the given questions:
Sustainable development is the synonymous in the minds of many with the colour green and for good reasons. Twenty years ago, at the First Earth Summit at Rio de Janerio, in Brazil, world leaders set out what today is conventional wisdom: SOCIAL AND ECONOMIC HUMAN PROGRESS – cannot be divorced from environmental protection unless both are advanced together, both will flounder together.
Sustainable development is as much about health, education and jobs, as it is about the ecosystems. It is about ever widening inclusion and movement away from decisions that erode democratic space and do not address social inequality, intolerance, and violence.
Sustainable Development is about changes that transform impoverished people, communities, and countries into informed, educated healthy and productive societies. It is about wealth creation that generates equality and opportunity.
Sustainable Development is about consumption and production patterns that respect planetary boundaries; it is also about increasing tolerance and respect for human rights at all levels. Building on human development legacy that oriented with Economists like Amartya Sen and MahbubUlHaq and was captured by the first Human Development Report in 1990.
United Nations Development Programme (UNDP) has long promoted alternative approaches to measure human progress,
along with the Human Development Index (HDI). Today, we are building on this legacy by exploring how to adjust the index to reflect environmental sustainability, so that governments and citizens might better track real progress towards truly sustainable development. This must be our collective objective.
Question: Which of the following is not one of the ways to attain the goal of sustainable development? (choose the correct alternative)
a) Use of cleaner fuels
b) Use of traditional knowledge and practices
c) Spreading awareness
d) Sticking to methods to promote inequalities.
Answer: d) Sticking to methods to promote inequalities.
Question: State whether the given statement is true or false:
As per the UNDP Report education and health are the broader issues of human development.
Answer: True
Question: Sustainable development and economic growth are __________ (directly/indirectly) related. (choose the correct alternative)
Answer: Directly
Question: Read the following statements – Assertion (A) and Reason ( R)
Assertion (A): Sustainable Development is about changes that transform impoverished people, communities, and countries into informed, educated, healthy and productive societies.
Reason (R): Sustainable Development advocates about wealth creation that generatesSocio-economic equality and opportunity.
Select the correct alternative from the following:
a) Both Assertion (A) and Reason (R) are true.
b) Both Assertion (A) and Reason (R) are false.
Answer: a) Both Assertion (A) and Reason (R) are true.
CASE STUDY – 4
Read the following hypothetical text and answer the given questions:
Infrastructure is often called as the lifeline of the economy of a nation. It comprises of a well established and well knit network of power, telecom, ports, airports, roads, civil aviation, railways and road transport in a country. Countries need adequate infrastructure so that various economic activities in an economy are executed efficiently, smoothly and above all in time. The deficiencies in the of infrastructural needs of a nation cannot be made up through imports rather the best approach is that it must be created within the domestic economy to put it on through the higher growth trajectory.
However,building of infrastructure requires large and lumpy investment and has a relatively long gestation period. Due to this fact, infrastructural facilities are either built or run by the government and public sector enterprises and if private sector is permitted to make investment and run infrastructural projects, they must be regulated in order to ensure quality infrastructure to one and all in the society.
Question: Identify the main category of infrastructure mentioned in the above paragraph. (choose the correct alternative)
a) Social
b) Economic
c) Personal
d) Financial
Answer: b) Economic
Question: The demand-supply gap of major infrastructural facility like power, transport can be met through__________ (fill up the blank with correct answer)
Answer: active role of public and private sectors.
Question: State whether the given statement is true or false:
‘Infrastructure is often called as the lifeline of the economy of a country,as it helps in increasing the productivity ofthe factors of production and enhancing the quality of life’.
Answer: True
Question: State any one reason as to why infrastructural facilities are mainly built or run by the government and public sector enterprises?
Answer: Higher investment requirements/longer gestation period of the project.
CASE STUDY- 5
Read the following hypothetical text and answer the given questions:
The Budget Estimate of total spending for 2021-22 is ₹34.83 lakh crore. The Revised Estimate (RE) for total central spending in 2020-21 is ₹34.5 lakh crore. The Gross Domestic Product (GDP) deflator — if one takes 14.4% nominal GDP growth projection for 2021-22 given in the budget and 11% real GDP forecast given in the latest Economic Survey —
comes to 3.4%. This means that central spending should have increased to at least ₹35.7 lakh crore to keep it unchanged in real terms. The fact that it has not happened implies that the 2021-22 budget entails a negative fiscal stimulus to the economy.
To be sure, one could argue that 2020-21 was an abnormal year — and, therefore, the government is justified in rolling back its welfare spending push, as the economy gets unlocked and vaccination gains momentum.
Question: With the rise in real national income, the economic welfare of the people__________(rises/falls).
(choose the correct alternative)
Answer: Rises
Question: If GDP Deflator = 125, Nominal GDP= ₹15000crs. then Real GDP is equal to ₹___________
(fill up the blank with correct answer)
Answer: ₹12,000 crores
Question: Read the following statements – Assertion (A) and Reason ( R)
Assertion (A): Real GDP is always equal to Nominal GDP.
Reason (R): Real GDP is a better measure to make periodic comparison in the physical output of goods and services over different years.
Select the correct alternative from the following:
a) Assertion (A) is true and Reason (R) is false.
b) Assertion (A) is false and Reason (R) is true.
Answer: b) Assertion (A) is false and Reason (R) is true.
Question: State the significance of GDP Deflator.
Answer: GDP Deflator is a tool that shows changes in the price level of the economy over a given period of time.
Chapter-wise Class 12 Economics Worksheets Pdf Download
Economics Worksheets for Class 12 as per CBSE NCERT pattern
Parents and students are welcome to download as many worksheets as they want as we have provided all free. As you can see we have covered all topics which are there in your Class 12 Economics book designed as per CBSE, NCERT and KVS syllabus and examination pattern. These test papers have been used in various schools and have helped students to practice and improve their grades in school and have also helped them to appear in other school level exams. You can take printout of these chapter wise test sheets having questions relating to each topic and practice them daily so that you can thoroughly understand each concept and get better marks. As Economics for Class 12 is a very scoring subject, if you download and do these questions and answers on daily basis, this will help you to become master in this subject.
Benefits of Free Economics Worksheets for Class 12
- You can improve understanding of your concepts if you solve NCERT Class 12 Economics Worksheet,
- These CBSE Class 12 Economics worksheets can help you to understand the pattern of questions expected in Economics exams.
- All worksheets for Economics Class 12 for NCERT have been organized in a manner to allow easy download in PDF format
- Parents will be easily able to understand the worksheets and give them to kids to solve
- Will help you to quickly revise all chapters of Class 12 Economics textbook
- CBSE Class 12 Economics Workbook will surely help to improve knowledge of this subject
These Printable practice worksheets are available for free download for Class 12 Economics. As the teachers have done extensive research for all topics and have then made these worksheets for you so that you can use them for your benefit and have also provided to you for each chapter in your ebook. The Chapter wise question bank and revision worksheets can be accessed free and anywhere. Go ahead and click on the links above to download free CBSE Class 12 Economics Worksheets PDF.
You can download free worksheets for Class 12 Economics from https://www.worksheetsbag.com
You can get free PDF downloadable worksheets for Grade 12 Economics from our website which has been developed by teachers after doing extensive research in each topic.
On our website we have provided worksheets for all subjects in Grade 12, all topic wise test sheets have been provided in a logical manner so that you can scroll through the topics and download the worksheet that you want.
You can easily get question banks, topic wise notes and questions and other useful study material from https://www.worksheetsbag.com without any charge
Yes all test papers for Economics Class 12 are available for free, no charge has been put so that the students can benefit from it. And offcourse all is available for download in PDF format and with a single click you can download all worksheets.
https://www.worksheetsbag.com is the best portal to download all worksheets for all classes without any charges.