CBSE Class 12 Economics Syllabus 2023-24 Study Material

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Questions and Answers

What is the main focus of the CBSE Class 12 Economics syllabus?

  • Introducing economic realities of the nation
  • Teaching basic statistical tools
  • Introducing economics as a theory of abstraction
  • All of the above (correct)

What is the meaning of 'managed floating' in the context of foreign exchange rate?

  • Exchange rate fluctuating without any control
  • Exchange rate determined solely by market forces
  • Exchange rate fixed by international agreements
  • Exchange rate managed by government intervention (correct)

What does the 'balance of payments account' include?

  • Government deficit measures
  • Only revenue receipts
  • Both revenue and capital receipts (correct)
  • Only capital receipts

What measures are used to correct problems of excess demand and deficient demand?

<p>Changes in government spending, taxes, and money supply (A)</p> Signup and view all the answers

What is the focus of the CBSE Class 12 Economics syllabus in relation to government budget and the economy?

<p>Classification of expenditure and receipts (C)</p> Signup and view all the answers

What is the main function of the Central Bank?

<p>Issuing currency and maintaining its stability (C)</p> Signup and view all the answers

What is the primary goal of the Reserve Bank of India?

<p>Maintaining price stability and ensuring adequate flow of credit to productive sectors (C)</p> Signup and view all the answers

What is the main objective of demonetization?

<p>Reducing the circulation of counterfeit currency and curbing corruption (C)</p> Signup and view all the answers

What is the impact of economic development on the environment?

<p>Negative impact, including global warming and resource depletion (C)</p> Signup and view all the answers

Which sector plays a crucial role in human capital formation?

<p>Service sector (C)</p> Signup and view all the answers

Flashcards

Managed Floating Exchange Rate

A system where the exchange rate is primarily determined by market forces, but with occasional government intervention.

Balance of Payments

A record of all economic transactions between a country and the rest of the world, including payments and receipts.

Demand Correction

Government actions (spending or taxes or money supply) to address too much or too little demand in the economy.

Central Bank Function

Controlling the money supply and credit availability to maintain financial stability.

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RBI Goal

Price stability and sufficient credit for production.

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Demonetization Objective

Reduce counterfeit currency and curb corruption.

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Economic Growth Impact on Environment

Often causes harmful effects like pollution and resource depletion.

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Human Capital Formation Sector

The service industry plays a key role in building human skills and knowledge.

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Government Budget Classification

Categorizing government spending and income.

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CBSE Economics Focus

Comprehensive coverage of economic concepts and policies.

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Study Notes

CBSE Class 12 Economics Syllabus

  • The main focus of the CBSE Class 12 Economics syllabus is on understanding micro and macroeconomic concepts, including development, growth, and international trade.

Foreign Exchange Rate

  • 'Managed floating' refers to a system where the exchange rate is determined by the market forces, but the central bank intervenes occasionally to influence the exchange rate.

Balance of Payments Account

  • The balance of payments account includes the record of a country's international transactions, including exports, imports, and other invisible transactions.

Demand- Supply Imbalance

  • To correct problems of excess demand, measures such as reduction in government expenditure, increase in taxes, and sale of securities are used.
  • To correct problems of deficient demand, measures such as increase in government expenditure, decrease in taxes, and purchase of securities are used.

Government Budget and Economy

  • The focus of the CBSE Class 12 Economics syllabus in relation to government budget and the economy is on understanding the budget as an instrument of economic policy, including its impact on the economy.

Central Bank

  • The main function of the Central Bank is to regulate the money supply, maintain price stability, and ensure financial stability.

Reserve Bank of India

  • The primary goal of the Reserve Bank of India is to maintain price stability, regulate the money supply, and ensure financial stability.

Demonetization

  • The main objective of demonetization is to reduce the circulation of counterfeit currency, reduce the black money supply, and curtail terror financing.

Economic Development and Environment

  • Economic development can have negative impacts on the environment, including resource depletion, pollution, and climate change.

Human Capital Formation

  • The education sector plays a crucial role in human capital formation by providing skilled and trained manpower.

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