12th HSC Board Economics:
ASSERTION AND REASONING
| Economics |
1. | Choose the Correct Option | 5 Marks | |
2 | Complete the Correction | 5 Marks | |
3 | Give Economic Term | 5 Marks | |
4 | Find the Odd Word | 5 Marks | |
5 | Complete the following Statements | 5 Marks | |
6 | Assertion and Reasoning Questions | 5 Marks | |
7 | Identify and Explain the Concepts | 6 Marks | |
8 | Distinguish Between | 6 Marks | |
9 | Answer in Brief | 12 Marks | |
10 | State with Reasons, Do you Agree/ Disagree | 12 Marks | |
11 | Table, Diagram, Passage Based Questions | 8 Marks | |
12 | Answer in Detail | 16 Marks |
Chapter 1: Introduction to Microeconomics and Macroeconomics
(1) Assertion (A): Microeconomics has comparatively narrower scope.
Reasoning (R): Microeconomics studies economic behaviour of only individual economic units of economy.
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(2) Assertion (A): Macroeconomics is also known as Income Analysis.
Reasoning (R): Macroeconomics studies the income earned by a particular Individual or a particular firm.
Options: (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (1) (A) is True, but (R) is False.
Chapter: 2 Utility Analysis
(3) Assertion (A): Marginal Utility (MU) goes on diminishing
Reasoning (R) Total Utility (TU) increases at diminishing rate. (March 22)
Options : 1 (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Chapter 3 (B): Elasticity of Demand
(4) Assertion (A): A change in quantity demanded of one commodity due to a change in the price of the other commodity cross elasticity.
Reasoning (R): Changes in consumer's income leads to a change in the quantity demanded. (March 23)
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
(5) Assertion (A): Tea and coffee have positive cross elasticity of demand.
Reasoning (R): As the price of coffee rises, the demand for tea falls.
Options: ((A) is True, but (R) is False
(2) (A) (s False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (1) (A) is True, but (R) is False.
Chapter 4: Supply Analysis
(6) Assertion (A): With rising price, supply of a commodity falls.
Reasoning (R): Seller earns more profit at higher price. (March '22)
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (2) (A) is False, but (R) is True.
(7) Assertion (A): Supply is a relative term.
Reasoning (R): Supply is always expressed in relation to price, time and quantity. (March '23)
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(8) Assertion (A): Expenditure incurred machinery is variable cost. on purchasing
Reasoning (R): Expenditure incurred on varying factors is known as variable cost.
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (2) (A) is False, but (R) is True.
Chapter 5: Forms of Market
(9) Assertion (A): In perfect competition, price is the forces of demand and supply. determined by
Reasoning (R): The number of buyers and sellers is so large that one person cannot influence prices. (March 23)
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (3) Both (A) and (R) are True and (R) is the cоггест explanation of (A).
(10) Assertion (A): In monopoly, use wise price can be discriminated.
Reasoning (R): In India, the gas cylinder is priced the same for domestic and commercial use.
Options: (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (1) (A) is True, but (R) is False.
Chapter 6: Index Numbers
(11) Assertion (A): Index number considers all factors.
Reasoning (R): Index number is based on samples. (March '22)
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (2) (A) is False, but (R) is True.
Chapter 7: National Income
(12) Assertion (A): Production for self consumption is not accounted for in the national income.
Reasoning (R): The products kept for self consumption do not enter the market. (March '23)
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (3) Both (A) and (R) are True and (R) is the correct explanation of (A).
(13) Assertion (A): Double counting leads to lower estimates of national income.
Reasoning (R): Due to double counting, the value of a single commodity is calculated twice in the national income measurement.
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (2) (A) is False, but (R) is True.
Chapter 8: Public Finance in India
(14) Assertion (A): Government sells bonds to its citizens.
Reasoning (R): Selling bonds is important type of internal debt
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (3) Both (A) and (R) are True and (R) is the correct explanation of (A).
(15) Assertion (A): Debt raised by the government from borrowings from World Bank is an internal debt.
Reasoning (R): Government of India borrowing (can borrow) funds from the World Bank for provision of water supply.
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A).
Ans. (2) (A) is False, but (R) is True.
Chapter 9: Money Market and Capital Market in India
(16) Assertion (A): Money market economizes use of cash.
Reasoning (R): Money market does not deal with financial instruments that are close substitutes of money. (March '22)
Options: (1) (A) is True, but (R) is False
(2) (A) (s False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (1) (A) is True, but (R) is False.
(17) Assertion (A): Foreign exchange management and control is by commercial banks.
Reasoning (R): RBI has to maintain the official rate of exchange of rupees and ensure its stability. (March 23)
Options: (1) (A) (s True, but (R) is False pee
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (2) (A) is False, but (R) is True.
(18) Assertion (A): Regional stock exchanges have witnessed a sharp decline in the volume of trade.
Reasoning (R): Investors prefer to trade in securities listed in premier stock exchanges like BSE , NSE, etc.
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(19) Assertion (A): Money market in India lacks financial inclusion of the weaker sections.
Reasoning (R): People from weaker sections have ample facilities for saving and getting loans.
Options: (1) (A) is True, but (R) is False.
(2) (A) is False, but (R) is True.
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (1) (A) is True, but (R) is False.
Chapter 10: Foreign Trade of India
(20) Assertion (A): International trade leads to division of labor and specialization.
Reasoning (R): India's national trade is not increasing, (March 22)
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correc explanation of (A)
Ans. (1) (A) is True, but (R) is False.
(21) Assertion (A): There was a significant drop in gold imports during 2013-14.
Reasoning (R): During 2013-14, various policy measures were taken by the government to curb gold imports.
Options: (1) (A) is True, but (R) is False
(2) (A) is False, but (R) is True
(3) Both (A) and (R) are True and (R) is the correct explanation of (A)
(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Ans. (3) Both (A) and (R) are True and (R) is the correct explanation of (A).
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