UP Board Class 12 Economics Question Paper with Answer Key and Solutions PDF (March 1, Code 329 BG)

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Shivam Yadav

Updated on - Nov 24, 2025

UP Board Class 12 Economics Question Paper with Answer Key Code 329 BG is available for download. The exam was conducted by the Uttar Pradesh Madhyamik Shiksha Parishad (UPMSP) on March 1, 2023 in Afternoon Session 2 PM to 5:15 PM. The medium of paper was English and Hindi. In terms of difficulty level, UP Board Class 12 Economics paper was . The question paper comprised a total of 27 questions.

UP Board Class 12 Economics (Code 329 BG) Question Paper with Solutions PDF

UP Board Class 12 Economics Question Paper with Solutions PDF download iconDownload Check Solutions

UP Board Class 12 Economics (Code 329 BG)


Question 1:

Which of the following is an economic activity ?

  • (A) Consumption
  • (B) Production
  • (C) Exchange
  • (D) All of these

Question 2:

In the case of normal goods, demand curve shows

  • (A) positive slope
  • (B) negative slope
  • (C) zero slope
  • (D) none of these.

Question 3:

Who propounded indifference curve analysis ?

  • (A) Marshall
  • (B) Pigou
  • (C) Hicks
  • (D) Robbins

Question 4:

In the present age, how many factors of production are there?

  • (A) 3
  • (B) 4
  • (C) 5
  • (D) 6

Question 5:

Which of the following indicates fixed cost?

  • (A) Electricity bill
  • (B) Expenses on raw material
  • (C) Wages
  • (D) Interest on fixed capital

Question 6:

Who imposes Income Tax?

  • (A) Central Government
  • (B) State Governments
  • (C) Local Governments
  • (D) All of these.

Question 7:

For controlling inflation, Bank Rate is

  • (A) increased
  • (B) decreased
  • (C) kept constant
  • (D) decreased to zero.

Question 8:

If MPS = 0.4, then MPC will be

  • (A) 40%
  • (B) 50%
  • (C) 60%
  • (D) 70%.

Question 9:

Where is the headquarters of Reserve Bank of India ?

  • (A) New Delhi
  • (B) Mumbai
  • (C) Kolkata
  • (D) Chennai.

Question 10:

Who is the Finance Minister of India ?

  • (A) Narendra Modi
  • (B) Amit Shah
  • (C) Rajnath Singh
  • (D) Nirmala Sitharaman.

Question 11:

What is Micro-economics?


Question 12:

What do you understand by 'Demand' ?


Question 13:

What are complementary goods?


Question 14:

What is production function ?


Question 15:

What do you understand by full employment ?


Question 16:

What is Money?


Question 17:

What is meant by Government Budget ?


Question 18:

What is meant by involuntary unemployment?


Question 19:

Explain important factors affecting demand.


Question 20:

Calculate marginal production and average production from the following data:


Question 21:

What is perfect competition? Highlight its salient features.


Question 22:

Highlight the important functions of Reserve Bank of India.


Question 23:

Explain the principal components of money supply.


Question 24:

Write the meaning of Direct Tax. Highlight its important advantages.


Question 25:

What do you understand by Indifference curve ? Explain Consumer's Equilibrium with the help of Indifference curves.


Question 26:

What is Elasticity of Demand ? Explain percentage method of its measurement.


Question 27:

What do you understand by National Income ? Explain the production method of its estimation.


Question 28:

What is Excess Demand ? Discuss its important causes.


Question 29:

How is the price of a commodity determined under Perfect Competition ? Explain with the help of an example and diagram.


Question 30:

What do understand by Average Propensity to Consume and Marginal Propensity to Consume ? Establish the relationship between these two with the help of an example and diagram.



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