CBSE Class 12 2025 Economics 58-7-2 Question Paper Set-2: Download Solutions with Answer Key

CBSE CLASS XII Questions

• 1.

  Read the following statements – Assertion (A) and Reason (R). Choose the correct alternative from the options given below:
  Assertion (A): Direct taxes are imposed on income/profits of individuals/companies.
  Reason (R): The burden of payment of direct taxes cannot be shifted to any other entity.

  • Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
  • Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
  • Assertion (A) is true, but Reason (R) is false.
  • Assertion (A) is false, but Reason (R) is true.
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• 2.

  On the basis of the given image, explain the source of human capital formation which may contribute to the economic growth in India.

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• 3.

  Calculate Domestic Income (NDP_FC) from the data given below:

  S. No.	Particulars	Amount (in ₹ lakh)
  (i)	Gross National Product at Market Price (GNPMP)	2,500
  (ii)	Consumption of Fixed Capital (Depreciation)	200
  (iii)	Goods and Services Tax (Indirect Tax)	20
  (iv)	Subsidies	50
  (v)	Net Factor Income from Abroad (NFIA)	50
  (vi)	Changes in Stocks	30
  (vii)	Unexpected Loss of a Fixed Asset	500

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• 4.

  On the basis of the following hypothetical data, calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022 – 23, using 2020 – 21 as the base year.

  Year	Nominal GDP	Nominal GDP (Adjusted to Base Year Price)
  2020–21	3,000	5,000
  2022–23	4,000	6,000

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• 5.

  Distinguish between Balance of Payment and Balance of Trade.

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• 6.

  Distinguish between Balance of Payments and Balance of Trade.

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