CBSE Class 12 Economics Sample Paper and Marking Scheme 2024-25: Download PDF For Free

CBSE Class 12 Economics Sample Paper 2024-25: Are you a CBSE Class 12 student looking for the sample question paper for Economics? Well your search ends here. Students might be aware that the Central Board of Secondary Education (CBSE) has released the sample question papers for the academic session 2024-25 for the students of class 12. CBSE has made available the sample papers on its website. This article dives into the CBSE Class 12 Economics Model Paper and marking scheme. 

Sample question papers prepare students for the main examination. Along with sample papers, CBSE has also released the marking scheme for all subjects. The marking scheme contains the solutions to the questions. 

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Sample question papers are an essential resource hub for students. When students solve sample question papers, they get an idea of how much they have actually understood from what they have learned. Sample papers also help them to understand the typology and level of difficulty of questions that they can expect in the examination. It also helps to develop writing practice and teaches speed and time management.  

Download the Economics Sample Paper Class 12 with marking scheme in pdf format for free from this article. The sample question paper has been given in PDF format so students can save and view them on phones, tablets, computers and laptops. 

CBSE Class 12 Economics Question Paper Instructions 2024-25

1. This question paper contains two sections: Section A – Macro Economics Section B – Indian Economic Development.

2. This paper contains 20 Multiple Choice Type Questions of 1 mark each.

3. This paper contains 4 Short Answer Type Questions of 3 marks each to be answered in 60 to 80 words.

4. This paper contains 6 Short Answer Type Questions of 4 marks each to be answered in 80 to 100 words.

5. This paper contains 4 Long Answer Type Questions of 6 marks each to be answered in 100 to 150 words. 

CBSE Class 12 Economics Sample Paper 2024-25

Given below are the questions from Economics Sample Paper 2024-25. 

Also Check: NCERT Books for CBSE Class 12 - Latest Edition

SECTION A – MACRO ECONOMICS 

Q1. Read the following statements: Assertion (A) and Reason (R). 

Choose the correct option from those given below: 

Assertion (A): The government can reduce the deflationary gap by purchasing government securities in the open market. 

Reason (R): The Central Bank purchases government securities in the open market to increase the lending capacity of commercial banks. 

Options: A. Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). 

B. Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A). 

C. Assertion (A) is true, but Reason (R) is false. 

D. Assertion (A) is false, but Reason (R) is true.

Q2. “The Cabinet led by Prime Minister has decided that the Central Government will provide free food grains to 81.35 crore (approx.) beneficiaries under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for a period of five years with effect from 1st January, 2024.” 

Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1980689 

Based on the aforesaid statement, identify the budgetary objective the government is trying to achieve and choose the correct option: 

A. Reallocation of resources 

B. Economic stability 

C. Redistribution of income 

D. Economic instability

Q3. To arrive at the value of Gross Value Added at Market Price (GVAMP) ______ must be added to Gross Value Added (GVA) at Basic Prices. (Choose the correct option to fill up the blank) 

A. Product Taxes 

B. Net Product Taxes 

C. Production Taxes 

D. Net Production Taxes 

Q4. Under the _______ exchange rate system, market forces automatically adjust the surplus and deficit in the Balance of Payments account. (Choose the correct option to fill up the blank)

A. fixed 

B. flexible 

C. managed floating 

D. dirty floating

Q5. From the given diagrams, identify the correct option that indicates the ‘Reference Line’ passing through the origin drawn at a particular angle. 

A. (i) 

B. (ii) 

C. (iii) 

D. (iv)

For Visually Impaired Candidates: Under the Keynesian theory, ‘Reference Line’ is a straight line passing through the origin drawn at an angle of _____. (Choose the correct option to fill up the blank) 

A. 25°

B. 45°

C. 55°

D. 75°

Q6. As per the data presented in the Union Budget 2023-24, the total receipts of the government other than borrowings and the total expenditure are estimated at ₹ 27.2 lakh crore and ₹ 45 lakh crore respectively. The value of the ________ deficit would be ₹ 17.8 lakh crore. (Choose the correct option to fill up the blank) 

A. revenue 

B. fiscal 

C. budgetary 

D. primary

Q7. Read the following statements carefully: 

Statement 1: The maximum value of Marginal Propensity to Consume (MPC) can be unity.

Statement 2: As the income of an economy increases, the proportionate increase in the level of consumption is always more than the increase in the level of income. 

In light of the given statements, choose the correct option from the following: 

A. Statement 1 is true and Statement 2 is false. 

B. Statement 1 is false and Statement 2 is true. 

C. Both Statements 1 and 2 are true. 

D. Both Statements 1 and 2 are false

Also Check: NCERT Solutions for CBSE Class 12 - Updated

Q8. In a two-sector economy, Aggregate Demand can be determined by adding ______. (Choose the correct option to fill up the blank) 

A. Autonomous Consumption, Induced Consumption and Induced Investment 

B. Autonomous Consumption, Autonomous Investment and Induced Investment 

C. Autonomous Consumption and Autonomous Investment 

D. Autonomous Consumption, Induced Consumption and Autonomous Investment 

Q9. Read the following statements carefully: 

Statement 1: Foreign grants-in-aid receipts do not lead to any claim on the government. 

Statement 2: Disposal of equity by the Public Sector Undertakings in the market may lead to a decrease in the assets of the government. 

In light of the given statements, choose the correct option from the following: 

A. Statement 1 is true and Statement 2 is false. 

B. Statement 1 is false and Statement 2 is true. 

C. Both Statements 1 and 2 are true. 

D. Both Statements 1 and 2 are false.

Q10. Based on the given diagram: The trade under current account during January 2024 reflects a _________ of USD _____ billion. (Choose the correct option to fill up the blank) 

A. surplus, 0.74 

B. surplus, 3.85 

C. deficit, 0.74 

D. deficit, 3.85 

For Visually Impaired Candidates: ________ indicates the situation of Current Account Deficit in the Balance of Payments Account. 

A. Receipts > Payments on current account 

B. Receipts = Payments on current account 

C. Receipts < Payments on current account 

D. Receipts < Payments on capital account

Q11. (A) On the basis of the given data, estimate the value of Domestic Income (NDPFC):

OR

(B) State the steps pertaining to the estimation of National Income under the income method.

Q12. “Tax revenue collection of the government may be categorized under two heads.” State and explain the two heads of tax revenue.

Q13. (I) ‘Foreign Portfolio Investment (FPI) witnessed a sharp turnaround during 2023-24 with net FPI inflows of US$ 32.4 billion.’ In which sub-account and on which side of the Balance of Payments account the above transaction will be recorded? Give reasons in support of your answer. 

(II) State the meaning of ‘Balance of Payments Deficit’.

Q14. (A) “Saving curve can be derived from the consumption curve” Justify the statement, citing valid steps with the help of a well-labelled diagram. 

For Visually Impaired Candidates: “Saving curve can be derived from the consumption curve” Justify the statement, citing valid steps. 

OR

(B) For two hypothetical economies A and B, the value of Marginal Propensity to Consume (MPC) stands at 0.6 and 0.8 respectively. Assuming for both the economies, Autonomous Consumption (c̅) to be ₹ 40 crore and Investment Expenditure (I) to be ₹ 100 crore. 

Calculate: (I) Break-even level of income for Economy A 

(II) Equilibrium level of income for Economy B

Q15. Read the following text carefully: “Union Finance Minister stated, that investments in infrastructure and productive capacity have a large multiplier impact on growth and employment and in view of this, capital investment outlay is being proposed to increase steeply in the Budget 2023-24 by 1,000 crore.” 

Based on the given text and common understanding, explain the working process of the increase in investment on the National Income, assuming the Marginal Propensity to Save (MPS) as 20%. 

Q16. Read the following text carefully: As societies developed from hunters and gatherers, the material needs of human beings increased – to build a house, wear clothes, make weapons and implements etc. Since these needs could not be produced individually, people had to purchase them from others. These purchases, for example, were paid initially by barter – a leather skin cloak for a spear. As barter had its limits – how many cloaks for a spear – barter got standardized in terms of metals or cowrie shells. Now people knew the value of both the cloak and the spear in terms of bronze or cowrie shells. This was still barter, as both bronze and shells had intrinsic value (shells were desired for their beauty). This system evolved over time into metal currencies. Gold and silver coinage were the offshoot of this system where they had features of barter (both gold and silver had intrinsic value) as well as money (they were standardized representation of value). 

Also Check: CBSE Board Date Sheet 2025 Class 12: Download Official Time Table PDF and Exam Time

In respect of money two facts emerge historically:

Money has taken the form of either commodities (which have intrinsic value) or in terms of debt instruments. 

Money is usually issued by a sovereign (or a Central Bank as its representative).

In modern economies, currency is a form of money that is issued exclusively by some competent authority (Central Bank). It is a liability of the issuing Central Bank and an asset of the holding public. Currency is usually issued in paper (or polymer) form, but the form of currency is not its defining characteristic. 

In the recent past, the Reserve Bank of India, issued Central Bank Digital Currency (CBDC). A CBDC is the currency issued by a central bank in a digital form. It serves all the purposes of a paper currency in a different form. The introduction of CBDC has the potential to provide significant benefits, such as reduced dependency on cash, lower transaction costs, reduced settlement risk. Introduction of CBDC would possibly lead to a more robust, efficient, trusted, regulated payments option. There are associated risks such as cyber-attacks and technology preparedness, but they need to be carefully evaluated against the potential benefits. 

On the basis of the given text and common understanding, answer the following questions: 

(I) “Over the centuries, money has evolved in various forms.” In the light of the given statement, state and discuss briefly any two forms of money. 

(II) “Various economists have formed a strong opinion that, in the modern times digital currency (like CBDC) is quite essential. However, it comes with its own benefits and potential risks.” Do you agree with the given statement, giving valid arguments in support of your answer.

Q17. (A) I. On the basis of the following hypothetical data: (all figures in ₹ crore)

Calculate the percentage change in Real Gross Domestic Product in the year 2023 using 2020 as the base year. 

(II) “The public investment on the construction of a multi-lane flyover may reduce traffic congestion.” On the basis of the above statement, discuss its likely impact on Gross Domestic Product (GDP) and welfare in an economy. 

OR

(B) (I) “Basis of classification of final goods into consumption and capital goods depend on the economic nature of its use.” Defend or refute the statement, with the help of a suitable example.

(II) ‘Natural calamities in the hill states of India have led to massive destruction of capital assets.’ Identify the type of loss (depreciation or capital loss) indicated in the aforesaid statement. Give valid reasons in support of your answer.

To download the complete sample paper and marking scheme in pdf format, click on the links below:

 Tips to Prepare for CBSE Class 12 Economics Examination

1. Prepare according to the latest syllabus only. Don’t waste time in studying the topics which are not required for the examination. 

2. Design a timetable and stick to it. Prepare by making short term study goals. 

3. Study the CBSE Class 12 Economics textbook in detail. Study all the chapters and don’t practice selective study. 

4. Solve the questions given in the textbook. Practice writing the answers as much as you can so that you don’t lag behind in the examination. Also practice diagrams/graphs multiple times so as to avoid confusion. 

5. Understand the concepts clearly and learn the definitions of important terms. Make notes and revise at least thrice. 

6. Go through the previous year question papers and understand the pattern. Keep track of the questions which are asked every year. Time yourself and solve the question papers to give yourself a reality check of how prepared you actually are. 

Utilise these tips and resources to obtain good scores in the 2025 Board examinations. 

Online Test Series for CBSE Class 12 Students

Class 12 students can prepare effectively for the exams with the help of online test series prepared by the subject matter experts. These test series will help students to check their exam preparation. Refer to the links below:

• CBSE Class 12 Commerce Online Test Series
• CBSE Class 12 Science Online Test Series
• CBSE Class 12 Humanities Online Test Series

Also, check

• CBSE Class 12 Syllabus 2024-2025: Download PDF of All Subjects
• CBSE Class 12 Deleted Syllabus 2025
• CBSE Class 12 Sample Papers 2024-2025
• CBSE Class 12 Competency Based Questions 2024-25 PDFs 
• NCERT Rationalised Content for Class 12