CBSE Class 12 Economics Marking Scheme (All India): 2017

Marking Scheme of CBSE Class 12 Economics 2017 board exam question paper is available here. With this article, students can download this Marking Scheme in PDF format. This marking scheme was used in the evaluation of CBSE Class 12 Economics 2017 board exam's answer booklets.

Created On: Sep 15, 2017 17:08 IST
Modified On: Sep 27, 2017 09:48 IST
CBSE Class 12 Economics Marking Scheme (All India): 2017
CBSE Class 12 Economics Marking Scheme (All India): 2017

CBSE Class 12 Economics 2017 board exam was held on 17 April. Here, you will get CBSE Marking Scheme which was used for the evaluation of CBSE Class 12 Economics 2017 board exam question paper (All India).

This Marking Scheme is provided with very short answers (key points or value points). During the evaluation of board exam answer booklets, the answers with all key points (as given in marking scheme) were awarded maximum marks.

The Marking Scheme also contains key answers (or values point) with mark wise break up. This gives a better idea about the division of marks inside a question. With this Marking Scheme, one can easily understand the requirement of a perfect answer.

Students can download CBSE Class 12 Economics Marking Scheme (All India): 2017 in PDF format from the download link given at the end of this article. CBSE Class 12 Economics 2017 board exam question paper (All India) is also available for reference.

CBSE Class 12 Question Papers: 2017

Content of first two pages of the Marking Scheme is given below:

General Instructions:

1. The Marking Scheme carries only suggested value points for the answers. These are only guidelines and do not constitute the complete answers. Students can have their own expression and if the expression is correct, marks should be awarded accordingly.

2. Head Examiners/Examiners are hereby instructed that while evaluating the answer books, if the answer is found to be totally incorrect, the (X) should be marked on the incorrect answer and awarded ‘0’ mark.

3. Please examine each part of a question carefully and allocate the marks allotted for the part as given in the ‘Marking Scheme’ below. TOTAL MARKS FOR ANY ANSWER MAY BE PUT IN A CIRCLE ON THE LEFT SIDE WHERE THE ANSWER ENDS.

4. Expected/suggested answers have been given in the ‘Marking Scheme’. To evaluate the answers, the value points indicated in the marking scheme should be followed.

5. For questions asking the candidate to explain or define, the detailed explanations and definitions have been indicated alongwith the value points.

6. For mere arithmetical errors, there should be minimal deduction. Only ½ mark should be deducted for such an error.

7. Where only two / three or a ‘given’ number of examples / factors / points are expected, only the first two / three or expected number should be read. The rest are irrelevant and must not be examined.

8. There should be no effort at ‘moderation’ of the marks by the evaluating teachers. The actual total marks obtained by the candidate may be of no concern to the evaluators.

9. Higher order thinking ability questions are for assessing a student’s understanding / analytical ability.

10. As per orders of the Hon’ble Supreme Court, a candidate would now be permitted to obtain a photocopy of his/her Answer Book on payment of the prescribed fee.

Examiners/Head Examiners are, therefore,once again reminded that they must ensure that evaluation is carried out strictly as per value points for each answer as given in the Marking Scheme.

General Note: In case of a numerical question, no marks should be awarded if only the final answer has been given, even if it is correct.


Expected Answer / Value Points

Distribution of Marks





(d) All of the above.



(b) Price of the good falls, expenditure on it falls.



A curve joining all points representing such bundles of two goods among which the consumer is indifferent is called an indifference curve.



(a) Perfect competition.



1) Large number of buyers & sellers.

2) Differentiated product.

3) Free entry and exit of firms.    (Any one)



It is the locus of points representing such combinations of two goods that can be produced by fuller utilization of given resources.


1. It slopes downward from left to right.

2. It is concave to the origin.



1 × 2


It is the problem relating to the choice of technique of production. Which technique should be used in production-whether labour intensive or capital intensive. Labour intensive technique uses more of labour as compared to capital while capital intensive technique uses more of capital as compared to labour.



When demand of a good rises due to a fall in its price, it is called ‘increase in quantity demanded’ and when demand of a good rises at the same price of the good, it is called ‘increase in demand.’


Budget set refers to the set of possible combinations of two goods which the consumer can afford with his income at given prices. From the budget set if only such bundles are taken on which total expenditure equals total income and plotted on a graph, we get a line called the budget line.




Download CBSE Class 12 Economics Question Paper (All India): 2017

Download CBSE Class 12 Economics Marking Scheme (All India): 2017

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