SET-3

Series SGN H$moS> Z§.

Code No. 58/3
amob Z§. narjmWu H$moS >H$mo CÎma-nwpñVH$m Ho$ _wI-n¥ð
Roll No. >na Adí` {bIo§ &
Candidates must write the Code on the
title page of the answer-book.

 H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _o§ _w{ÐV n¥ð> 11 h¢ &

 àíZ-nÌ _| Xm{hZo hmW H$s Amoa {XE JE H$moS >Zå~a H$mo N>mÌ CÎma -nwpñVH$m Ho$ _wI-n¥ð> na
{bI| &
 H¥$n`m Om±M H$a b| {H$ Bg àíZ-nÌ _| >24 àíZ h¢ &
 H¥$n`m àíZ H$m CÎma {bIZm ewê$ H$aZo go nhbo, àíZ H$m H«$_m§H$ Adí` {bI| &
 Bg àíZ-nÌ H$mo n‹T>Zo Ho$ {bE 15 {_ZQ >H$m g_` {X`m J`m h¡ & àíZ-nÌ H$m {dVaU nydm©•
_| 10.15 ~Oo {H$`m OmEJm & 10.15 ~Oo go 10.30 ~Oo VH$ N>mÌ Ho$db àíZ-nÌ H$mo n‹T>|Jo
Am¡a Bg Ad{Y Ho$ Xm¡amZ do CÎma-nwpñVH$m na H$moB© CÎma Zht {bI|Jo &
 Please check that this question paper contains 11 printed pages.
 Code number given on the right hand side of the question paper should be
written on the title page of the answer-book by the candidate.
 Please check that this question paper contains 24 questions.
 Please write down the Serial Number of the question before
attempting it.
 15 minute time has been allotted to read this question paper. The question
paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the
students will read the question paper only and will not write any answer on
the answer-book during this period.

AW©emñÌ
ECONOMICS

{ZYm©[aV g_` : 3 KÊQ>o A{YH$V_ A§H$ : 80

Time allowed : 3 hours Maximum Marks : 80

58/3 1 P.T.O.
gm_mÝ` {ZX}e :
(i) XmoZm| IÊS>m| Ho$ g^r àíZ A{Zdm`© h¢ &
(ii) àË`oH$ àíZ Ho$ {ZYm©[aV A§H$ CgHo$ gm_Zo {XE JE h¢ &
(iii) àíZ g§»`m 1 – 4 VWm 13 – 16 A{V bKwÎmamË_H$ àíZ h¢, {OZ_| àË`oH$ H$m 1 A§H$ h¡ &
BZH$m àË`oH$ H$m CÎma EH$ dmŠ` _| hr Ano{jV h¡ &
(iv) àíZ g§»`m 5 – 6 Am¡a 17 – 18 bKwÎmamË_H$ àíZ h¢, {OZ_| àË`oH$ Ho$ 3 A§H$ h¢ &
àË`oH$ H$m CÎma gm_mÝ`V… 60 eãXm| go A{YH$ Zht hmoZm Mm{hE &
(v) àíZ g§»`m 7 – 9 Am¡a 19 – 21 ^r bKwÎmamË_H$ àíZ h¢, {OZ_| àË`oH$ Ho$ 4 A§H$ h¢ &
àË`oH$ H$m CÎma gm_mÝ`V… 70 eãXm| go A{YH$ Zht hmoZm Mm{hE &
(vi) àíZ g§»`m 10 – 12 Am¡a 22 – 24 XrK© CÎmamË_H$ àíZ h¢, {OZ_| àË`oH$ Ho$ 6 A§H$
h¢ & àË`oH$ H$m CÎma gm_mÝ`V… 100 eãXm| go A{YH$ Zht hmoZm Mm{hE &
(vii) CÎma g§{jßV VWm VÏ`mË_H$ hmoZo Mm{hE VWm `Wmg§^d D$na Xr JB© eãX gr_m Ho$ A§VJ©V
hr {XE OmZo Mm{hE &

General Instructions :
(i) All questions in both the sections are compulsory.
(ii) Marks for questions are indicated against each question.
(iii) Question Nos. 1 – 4 and 13 – 16 are very short-answer questions carrying
1 mark each. They are required to be answered in one sentence each.
(iv) Question Nos. 5 – 6 and 17 – 18 are short-answer questions carrying
3 marks each. Answers to them should normally not exceed 60 words
each.
(v) Question Nos. 7 – 9 and 19 – 21 are also short-answer questions carrying
4 marks each. Answers to them should normally not exceed 70 words
each.
(vi) Question Nos. 10 – 12 and 22 – 24 are long-answer questions
carrying 6 marks each. Answers to them should normally not exceed
100 words each.
(vii) Answers should be brief and to the point and the above word limits
should be adhered to as far as possible.

58/3 2
 IÊS> A
SECTION A

1. O~ 100BH$mB© CËnmXZ H$aZo H$s Hw$b pñWa bmJV < 30 hmo Am¡a Am¡gV n[adVu bmJV
< 3 hmo, Vmo Hw$b bmJV hmoJr : (ghr {dH$ën Mw{ZE) 1

(H$) < 3

(I) < 30

(J) < 270

(K) < 330

When the total fixed cost of producing 100 units is < 30 and the average
variable cost < 3, total cost is : (Choose the correct alternative)

(a) <3

(b) < 30

(c) < 270

(d) < 330

2. O~ Am¡gV CËnmX (AP) A{YH$V_ hmoVm h¡, V~ gr_m§V CËnmX (MP) : (ghr {dH$ën
Mw{ZE) 1

(H$) Am¡gV CËnmX Ho$ g_mZ hmoVm h¡

(I) Am¡gV CËnmX go H$_ hmoVm h¡

(J) Am¡gV CËnmX go A{YH$ hmoVm h¡

(K) Cn`w©º$ _| go H$moB© ^r hmo gH$Vm h¡

58/3 3 P.T.O.
 When the Average Product (AP) is maximum, the Marginal Product
(MP) is : (Choose the correct alternative)

(a) Equal to AP

(b) Less than AP

(c) More than AP

(d) Can be any one of the above

3. gH$mamË_H$ (AmXe©H$) AW©emñÌ H$m EH$ CXmhaU Xr{OE & 1

State one example of positive economics.

4. pñWa ({ZpíMV) bmJV H$s n[a^mfm Xr{OE & 1

Define fixed cost.

5. ‘‘VH$ZrH$ Ho$ M`Z’’ H$s Ho$ÝÐr` g_ñ`m g_PmBE & 3

AWdm
‘‘{H$gHo$ {bE CËnmXZ {H$`m Om`’’ H$s Ho$ÝÐr` g_ñ`m g_PmBE & 3

Explain the central problem of ‘‘choice of technique’’.

OR
Explain the central problem of ‘‘for whom to produce’’.

6. ~obmoM _m±J go Š`m A{^àm` h¡ ? nyU©V`m ~obmoM _m±J go BgH$s VwbZm H$s{OE & 3

What is meant by inelastic demand ? Compare it with perfectly inelastic

demand.

58/3 4
7. O~ EH$ dñVw H$s H$s_V < 4 à{V BH$mB© go ~‹T>H$a < 5 à{V BH$mB© hmoVr h¡, Vmo BgH$s
~mµOma ny{V© 100 BH$mB© go ~‹T>H$a 120 BH$mB© hmo OmVr h¡ & ny{V© H$s H$s_V bmoM H$m
n[aH$bZ H$s{OE & Š`m ny{V© bmoMXma h¡ ? H$maU Xr{OE & 4
When the price of a commodity changes from < 4 per unit to < 5 per
unit, its market supply rises from 100 units to 120 units. Calculate the
price elasticity of supply. Is supply elastic ? Give reason.

8. CƒV_ H$s_V gr_m {ZYm©aU go Š`m A{^àm` h¡ ? BgHo$ n[aUm_ g_PmBE & 4
What is meant by price ceiling ? Explain its implications.

9. EH$ dñVw H$s H$s_V nVm hmoZo na EH$ Cn^moº$m `h H¡$go V` H$aoJm {H$ dh Cg dñVw H$s
{H$VZr _mÌm IarXo ? g_PmBE & 4

AWdm
AZ{Y_mZ dH«$ Š`m h¡ ? AZ{Y_mZ dH«$m| H$s VrZ {deofVmE± ~VmBE & 4

Given the price of a good, how will a consumer decide as to how much
quantity to buy of that good ? Explain.

OR
What is Indifference Curve ? State three properties of indifference
curves.

10. EH$m{YH$mar à{V`mo{JVm H$s VrZ {deofVmE± ~VmBE & BZ_| go H$m¡Z-gr {deofVm Bgo nyU©
à{V`mo{JVm go {^Þ H$aVr h¡ Am¡a Š`m| ? 6

AWdm

{ZåZ{b{IV Ho$ n[aUm_ g_PmBE : 6

(H$) nyU© à{V`mo{JVm _| \$_m] Ho$ àdoe H$aZo Am¡a CÚmoJ N>mo‹S>Zo H$s ñdV§ÌVm

(I) Aënm{YH$ma _| µJ¡a-H$s_V à{V`mo{JVm

58/3 5 P.T.O.
 State three characteristics of monopolistic competition. Which of the
characteristics separates it from perfect competition and why ?

OR

Explain the implications of the following :

(a) Freedom of entry and exit of firms under perfect competition

(b) Non-price competition under oligopoly

11. AZ{Y_mZ dH«$ {díbofU Ûmam Cn^moº$m Ho$ g§VwbZ H$s eV] g_PmBE & 6
Explain the conditions of consumer’s equilibrium using Indifference
Curve Analysis.

12. gr_m§V AmJ_ (gåàm{ßV) Am¡a gr_m§V bmJV H$s ghm`Vm go CËnmXH$ Ho$ g§VwbZ H$s eV]
g_PmBE & 6
Explain the conditions of producer’s equilibrium in terms of marginal
revenue and marginal cost.

IÊS> ~
SECTION B

13. _wÐm Amny{V© H$s n[a^mfm Xr{OE & 1

Define money supply.

14. {ZåZ{b{IV _| go H$m¡Z-gm amîQ´>r` Am` H$mo à^m{dV H$aVm h¡ ? (ghr {dH$ën Mw{ZE) 1

(H$) dñVw Ed§ godm H$a

(I) {ZJ_ H$a
(J) Am{W©H$ ghm`Vm
(K) Cn`w©º$ _| go H$moB© Zht

58/3 6
 Which of the following affects national income ? (Choose the correct
alternative)
(a) Goods and Services tax
(b) Corporation tax
(c) Subsidies
(d) None of the above

15. Cn^moJ dH«$ CX²J_ go Š`m| Zht ewê$ hmoVm h¡ ? 1

Why does consumption curve not start from the origin ?

16. Ho$ÝÐr` ~¢H$ Eogm H$aHo$ G$U H$s CnbãYVm H$mo ~‹T>m gH$Vm h¡ : (ghr {dH$ën Mw{ZE) 1

(H$) nwZI©arX Xa (aonmo aoQ>) ~‹T>mH$a

(I) à{V nwZI©arX Xa ([adg© aonmo aoQ>) ~‹T>mH$a

(J) gaH$mar à{V^y{V`m± IarXH$a

(K) gaH$mar à{V^y{V`m± ~oMH$a

The central bank can increase availability of credit by : (Choose the

correct alternative)

(a) Raising repo rate

(b) Raising reverse repo rate

(c) Buying government securities

(d) Selling government securities

58/3 7 P.T.O.
17. gm_mÝ` Am` kmV hmoZo na h_ dmñV{dH$ Am` H¡$go kmV H$a gH$Vo h¢ ? g_PmBE & 3

AWdm

{ZåZ{b{IV _| go H$m¡Z-gr A§{V_ dñVwE± h¢ Am¡a H$m¡Z-gr _Ü`dVu ? H$maU Xr{OE & 3

(H$) Mm` ñQ>m°b Ûmam XÿY H$s IarX

(I) ñHy$b Ûmam ~g H$s IarX

(J) ñHy$b H¡$ÝQ>rZ go {dÚmWu Ûmam Oyg H$s IarX

Given nominal income, how can we find real income ? Explain.

OR

Which among the following are final goods and which are intermediate
goods ? Give reasons.

(a) Milk purchased by a tea stall

(b) Bus purchased by a school

(c) Juice purchased by a student from the school canteen

18. JwUH$ H$s n[a^mfm Xr{OE & gr_m§V Cn^moJ àd¥{Îm Am¡a JwUH$ Ho$ ~rM Š`m g§~§Y h¡ ? `{X
JwUH$ H$m _mZ 4 hmo, Vmo gr_m§V Cn^moJ àd¥{Îm H$m n[aH$bZ H$s{OE & 3

Define multiplier. What is the relation between marginal propensity to

consume and multiplier ? Calculate the marginal propensity to consume

if the value of multiplier is 4.

58/3 8
19. _wÐmñ\$s{VH$mar A§Vamb go Š`m A{^àm` h¡ ? Bg A§Vamb H$mo H$_ H$aZo Ho$ VrZ Cnm`
~VmBE & 4
AWdm
g_J« (Hw$b) _m±J go Š`m A{^àm` h¡ ? BgHo$ KQ>H$ ~VmBE & 4

What is meant by inflationary gap ? State three measures to reduce this

gap.
OR
What is meant by aggregate demand ? State its components.

20. gr_m§V Cn^moJ àd¥{Îm H$m _yë` 0.6 h¡ Am¡a AW©ì`dñWm H$s àmapå^H$ Am` < 100 H$amo‹S>
h¡ & Am`, Cn^moJ Am¡a ~MV {XImVo hþE EH$ Vm{bH$m V¡`ma H$s{OE & `{X ñdm`Îm {Zdoe
< 80 H$amo‹S> hmo, Vmo Am` H$m g§VwbZ ñVa ^r {XImBE & 4
The value of marginal propensity to consume is 0.6 and initial income in
the economy is < 100 crores. Prepare a schedule showing Income,
Consumption and Saving. Also show the equilibrium level of income by
assuming autonomous investment of < 80 crores.

21. ^maVr` [aµOd© ~¢H$ H$s ‘‘A§{V_ G$UXmVm’’ Ho$ ê$n _| ^y{_H$m g_PmBE & 4

Explain the role of the Reserve Bank of India as the ‘‘lender of last
resort’’.

22. (H$) {d{Z_` Xa _| d¥{Õ Ho$ amï´>r>` Am` na à^md g_PmBE & 6

(I) ^wJVmZ g§VwbZ _| ‘KmQ>o’ H$s AdYmaUm g_PmBE &

(a) Explain the impact of rise in exchange rate on national income.

(b) Explain the concept of ‘deficit’ in balance of payments.

58/3 9 P.T.O.
23. n[aH$bZ H$s{OE (H$) ~mµOma H$s_V na {Zdb amîQ´>r` CËnmX, VWm (I) gmYZ (CnmXmZ)
bmJV na gH$b Kaoby CËnmX : 4+2=6
(< H$amo‹S>m| _|)
(i) {H$am`m Am¡a ã`mO$ 6,000
(ii) _µOXÿar VWm doVZ 1,800
(iii) A{dV[aV bm^ 400
(iv) {Zdb AàË`j H$a 100
(v) Am{W©H$ ghm`Vm 20
(vi) {ZJ_ H$a 120
(vii) {dXoem| H$mo {Zdb H$maH$ Am` 70
(viii) bm^m§e 80
(ix) AMb ny±Or H$m Cn^moJ 50
(x) {Z`moOH$m| Ûmam gm_m{OH$ gwajm A§eXmZ 200
(xi) {_{lV Am` 1,000

Calculate (a) Net National Product at market price, and (b) Gross
Domestic Product at factor cost :
(< in crores)
(i) Rent and interest 6,000
(ii) Wages and salaries 1,800
(iii) Undistributed profit 400
(iv) Net indirect taxes 100
(v) Subsidies 20
(vi) Corporation tax 120
(vii) Net factor income to abroad 70
(viii) Dividends 80
(ix) Consumption of fixed capital 50
(x) Social security contribution by employers 200
(xi) Mixed income 1,000

58/3 10
24. {ZåZ{b{IV Ho$ AW© g_PmBE : 6

(H$) amOñd KmQ>m

(I) amOH$mofr` KmQ>m
(J) àmW{_H$ KmQ>m
AWdm
gaH$mar ~OQ> Ho$ {ZåZ{b{IV CÔoí` g_PmBE : 6

(H$) g§gmYZm| H$m Am~§Q>Z

(I) Am` Ag_mZVmE± H$_ H$aZm
Explain the meaning of the following :
(a) Revenue deficit
(b) Fiscal deficit
(c) Primary deficit
OR
Explain the following objectives of government budget :
(a) Allocation of resources
(b) Reducing income inequalities

58/3 11 P.T.O.
 English
SENIOR SCHOOL CERTIFICATE EXAM
MARCH 2018

MARKING SCHEME
ECONOMICS – XII

SET (58/1/2/3)
Expected Answers / Value Points
GENERAL INSTRUCTIONS :

1 The Marking Scheme carries only suggested value points for the answers.
These are only guidelines and do not constitute the complete answers.
Students can have their own expression and if the expression is correct, marks
should be awarded accordingly.
2 As per orders of the Hon’ble Supreme Court, a candidate would now be
permitted to obtain a photocopy of his/her Answer Book on payment of the
prescribed fee. Examiners/Head Examiners are, therefore, once again
reminded that they must ensure that evaluation is carried out strictly as per
value points for each answer as given in the Marking Scheme.
3 Head Examiners/Examiners are hereby instructed that while evaluating the
answer books, if the answer is found to be totally incorrect, the (X) should be
marked on the incorrect answer and awarded ‘0’ mark.
4 Please examine each part of a question carefully and allocate the marks
allotted for the part as given in the ‘Marking Scheme’ below. TOTAL MARKS
FOR ANY ANSWER MAY BE PUT IN A CIRCLE ON THE LEFT SIDE
WHERE THE ANSWER ENDS.
5 Expected/suggested answers have been given in the ‘Marking Scheme’. To evaluate
the answers, the value points indicated in the marking scheme should be followed.
6 For questions asking the candidate to explain or define, the detailed explanations
and definitions have been indicated alongwith the value points.
7 For mere arithmetical errors, there should be minimal deduction. Only ½ mark
should be deducted for such an error.
8 Where only two / three or a ‘given’ number of examples / factors / points are
expected, only the first two / three or expected number should be read. The rest are
irrelevant and must not be examined.
9 There should be no effort at ‘moderation’ of the marks by the evaluating teachers.
The actual total marks obtained by the candidate may be of no concern to the
evaluators.
10 Higher order thinking ability questions are for assessing a student’s understanding /
analytical ability.
General Note: In case of a numerical question, no marks should be awarded if
only the final answer has been given, even if it is correct.

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 Expected Answer / Value Points
Set1 Set2 Set3 SECTION – A Distribution
of Marks
1. 3 2. Problem of scarcity means insufficient availability of resources in relation 1
to demand for the resources.
2. 2 3. Cost in economics is the sum total of explicit cost and implicit cost 1
including normal profit.
Or, Cost in Economics is the sum of actual money expenditure on inputs
and estimated value of inputs provided by the owners including normal
profits.
3. 1 4. (c) May fall or may rise. 1
4. 4 1. (b) Rises 1
5. 5 6. Microeconomics studies the behaviour of individual economic units 2
(OR whereas macroeconomics studies the behavior of the economy as a whole.
Up Example of microeconomics – consumer’s equilibrium (or any other one ½
Down ) relevant example)
Example of macroeconomics – national income (or any other one relevant ½
example.)
OR
Production Possibility Curve (PPC) shows various
combinations/possibilities of the two goods that can be produced with
given resources and technology assuming full and efficient utilization of 1
resources.
Yes, PPC can shift due to:
a) Change in resources. 1+1
b) Change in technology.
6. 6 5. i) Price of substitute goods
ii) Price of complementary goods. 3x1=3
iii) Income of its buyers.
(or any other three relevant determinants)
7. 9. 8. Demand curve will be parallel to the Y axis as there is no change in
quantity demanded due to rise in the price of the commodity. 4
(Note : Diagram not required)
8. 7. 9. Revenue in Microeconomics means the market value of output. 1
Relation between MR and AR
Schedule
Units Price/AR MR Diagram
1 10 10
2 10 10 OR
3 10 10
4 10 10 3

MR = AR at all levels of output MR curve is parallel to the X-

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 axis and coincides with the
AR curve.

OR

Supply refers to the quantity of a good which a producer is willing to 1

supply at various possible prices during a given period of time.
- Increase in supply means supply rises due to favourable change in 1½
factors affecting supply other than own price of that good
whereas
- Extension in supply means increase in quantity supplied due to rise
1½
in price of that good, other factors remaining constant.

9. 8. 7. ‘Price Floor’ is the minimum price fixed by the government below which 1
sellers cannot sell their product.
Since this price is normally fixed above the equilibrium price, there is excess 3
supply in the market. As the seller may not be able to sell all that he wants to
sell, he may illegally attempt to sell the product at a price below the floor price
fixed by the government.
10. 11. 12. The consumer is in equilibrium when
MU X MU Y
a)  1
PX PY
b) MU continuously falls. 1
Explanation
Condition 1 Suppose per rupee marginal utility by spending on good X is
greater than on good Y. This induces the consumer to spend
more on good X by reducing spending on Y. This leads to 3
fall in MUX and rise in MUY. This shift of spending from
MU X MU Y
good Y to good X continues till 
PX PY

MU X MU Y
(Answer based on  is also acceptable)
PX PY

Condition 2 Marginal utility falls as more units are consumed i.e. the law
of diminishing marginal utility is operating. This ensures
fulfilment of the first condition. 1

(Diagram not required)

OR
The three properties of ICs are 1
1) An IC slopes downwards from left to right.
It is because to consume more quantity of one good, some quantity 1
of the other good must be reduced for the consumer to remain on
the same IC.

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 2) An IC is convex towards origin. 1
It is because MRS declines as more is consumed of one good,
because of operation of law of diminishing marginal utility. 1

3) An IC to the right represents higher level of satisfaction.

It is because an IC to the right shows more units of goods consumed 1
and more units of goods consumed are assumed to have more 1
satisfaction.
(No diagram is required)
11. 12. 10. According to the Law of Variable Proportions – as only one input is 1
increased, others remaining unchanged, the total product increases at an
increasing rate, then at a decreasing rate and ultimately falls.

Phase I In the first phase, TP increases at an increasing rate upto point A. 1

Phase II In the second phase, TP increases at a diminishing rate between 1
point A & B.
Phase III In the third phase, TP starts falling beyond point B. 1

FOR BLIND CANDIDATES – Any Valid Schedule 2

12. 10. 11. 1) Large number of buyers and sellers – The number of buyers and
sellers is so large that an individual seller or buyer has insignificant
share of total output sold or purchased.
2) Homogeneous products – The buyers treat the products of all the
firms in the industry as identical/homogeneous.
1½x4=6
3) Perfect knowledge – All producers and consumers are fully
informed about the market.
4) Freedom of entry and exit – There are no barriers in the way of
new firms joining the industry and existing firms leaving the
industry.
13. 14. 16. (a) Rises 1
14. 13. 15. Money Multiplier = 5 1
15. 16. 14. (b) Banking facilities to public 1
16. 15. 13. APS = 0.25 1

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17. 17. 18. (a) A car used as a taxi - It is a capital good because it is used for
1
producing services for generating income.
(b) Refrigerator in a hotel – It is a capital good because it is used for 1
providing services over a period of time to the production unit.
(c) Air-conditioner in a house – It is a consumer good because it is used 1
for satisfaction of a want by a household.
(No marks if reason is not given or is incorrect)

OR
Intermediate Consumption refers to the expenditure incurred by a
production unit on purchasing those goods and services from other 1½
production units, which are meant for resale or for using up completely
during the same year.
For example: Milk purchased by a hotel because it is purchased from
another production unit for resale indirectly. (or any other relevant ½
example)
Whereas Final Consumption refers to the expenditure on goods and
services meant for final consumption and investment. 1

18. 18. 17. i) C = 100 + 0.6Y (given)

1
So MPC = 0.6
MPS = 1 – MPC
= 1 – 0.6
1
= 0.4
ii) S = – C + (1 – b)Y.
1
S = –100 + 0.4 Y
19. 21. 20. a) Bank Rate Policy – It is the rate at which the central bank lends
funds to the commercial banks. An increase in the bank rate 2
increases the costs of borrowing from the central bank. This will
then cause banks to increase the rate at which they lend. This will
discourage people from taking loans, thus reducing the volume of
credit in the economy and vice-versa.
b) Cash Reserve Ratio (CRR) – It is the proportion of deposits that
commercial banks have to keep as cash reserves with the central 2
bank. An increase in CRR has the effect of reducing the bank’s
excess reserves and thus decrease their ability to give credit.
(Any other relevant method is to be considered) (Any Two)
OR
It means that the Central bank has the sole authority to issue currency notes
in the country. The monopoly of issuing notes by the central bank ensures
uniformity in the notes issued. 4
(To be marked as a whole)

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20. 19. 21. National Income is determined in an economy at a point where planned 1
saving equals planned investment.

1½

In the above diagram E is the equilibrium point where savings equals

investment at national income Y.
At any output level less than equilibrium output, S < I means there is
unplanned decrease in inventories. To increase inventories to the planned 1½
level, producers increase output leading to increase in income. With such
rise in income, saving rises again till S = I at equilibrium E.

(Note : Explanation with S > I, is also acceptable.)

FOR BLIND CANDIDATES – Any Valid Schedule 1½

21. 20. 19. Investment multiplier is a measure of the effect of change in the initial
investment on change in final income. 1
Numerical example
Suppose I = ` 100 cr.
MPC = 0.8
Initial investment of ` 100 cr. raises the income by ` 100 cr. In the first
round, this additional income causes an increase in consumption
expenditure which in turn, generates more income (as one man’s
expenditure is another man’s income). This process continues till the total
income is equal to multiplier times the initial investment.
Round Y C S
I 100 80 20
II 80 64 16
III 64 51.2 12.8
– – –
– – –
– – –
Total 500 400 100
(or any other relevant example)
1 3
K =
1 - MPC
1
K =
1 - 0.8
K = 5
So Y = K. I

Outside Delhi Page 6

 = 5 x 100
= `500
(Explanation without schedule is also acceptable)
22. 23. 23. (a) Revenue expenditure – It is the expenditure made by the
government that neither creates any assets nor reduces any liability. 1½ x 2=3
Capital expenditure – It is the expenditure incurred by the
government that either creates assets or reduces liabilities.

(b) Fiscal Deficit refers to the excess of ‘total expenditure’ over ‘total
receipts excluding borrowings’. 1½ x 2=3
Whereas
Primary deficit is defined as fiscal deficit less interest payments.
OR
Revenue Receipts are receipts which neither create a liability nor lead to
reduction in assets whereas Capital Receipts are the receipts which either
create a liability or reduce assets of the govt. 3

Components of Revenue Receipts are –

- Tax revenue receipts (direct and indirect taxes) 1½
- Non-tax revenue receipts.
Components of Capital Receipts are
- recovery of loans
- borrowings and other liabilities 1½
- other capital receipts like disinvestment.

23. 24. 22. Fixed exchange rate is the rate which is decided by the government at
2
which domestic currency can be exchanged with foreign currency.
Flexible exchange rate is the rate which is determined by the forces of
demand and supply of foreign exchange in the foreign exchange market.
The foreign exchange rate and demand for foreign exchange are inversely 4
related. The supply of foreign exchange and rate of foreign exchange are
directly related. The exchange rate at which demand and supply of foreign
exchange are equal is the equilibrium exchange rate.
(Diagram is not required)

24. 22. 24. (a) GDPMP = (ii) + (i) + (iii) + (iv) 1½

= 3,500 + 4,000 + 1,100 + 500 1
= ` 9,100 Crores ½
(b) NNPFC = GDPMP – (ix) + (v) – (vi) 1½
= 9,100 – 120 + 100 – 300 1
= ` 8,780 Crores
½
(No marks to be awarded if only final answer is given)

Outside Delhi Page 7

 Hindi
SENIOR SCHOOL CERTIFICATE EXAMINATION
MARCH-2018

अंक योजना – अर्थ शास्त्र (दिल्ली)

Expected Answers / Value Points
अपेक्षऺत उत्तर / मल
ू ययांकन ब द
ां ु
सयमयन्य ननदे श

1 The Marking Scheme carries only suggested value points for the answers.
These are only guidelines and do not constitute the complete answers.
Students can have their own expression and if the expression is correct, marks
should be awarded accordingly.
2 As per orders of the Hon’ble Supreme Court,a candidate would now be
permitted to obtain a photocopy of his/her Answer Book on payment of the
prescribed fee. Examiners/Head Examiners are, therefore, once again
reminded that they must ensure that evaluation is carried out strictly as per
value points for each answer as given in the Marking Scheme.
3 Head Examiners/Examiners are hereby instructed that while evaluating the
answer books, if the answer is found to be totally incorrect, the (X) should be
marked on the incorrect answer and awarded ‘0’ mark.
4 Please examine each part of a question carefully and allocate the marks
allotted for the part as given in the ‘Marking Scheme’ below. TOTAL MARKS
FOR ANY ANSWER MAY BE PUT IN A CIRCLE ON THE LEFT SIDE
WHERE THE ANSWER ENDS.
5 Expected/suggested answers have been given in the ‘Marking Scheme’. To evaluate
the answers, the value points indicated in the marking scheme should be followed.
6 For questions asking the candidate to explain or define, the detailed explanations
and definitions have been indicated along with the value points.
7 For mere arithmetical errors, there should be minimal deduction. Only ½ mark
should be deducted for such an error.
8 Where only two / three or a ‘given’ number of examples / factors / points are
expected, only the first two / three or expected number should be read. The rest are
irrelevant and must not be examined.
9 There should be no effort at ‘moderation’ of the marks by the evaluating teachers.
The actual total marks obtained by the candidate may be of no concern to the
evaluators.
10 Higher order thinking ability questions are for assessing a student’s understanding /
analytical ability.
General Note: In case of a numerical question, no marks should be awarded if
only the final answer has been given, even if it is correct.

1
58/1,2,3(CD)
 अपेक्षऺत उत्तर / मल
ू ययांकन ब द
ां ु
भयग – अ
Question अनुभाग – अ Marks
No.
1. 2 3 सर्वश्रेष्ठ वर्कल्प की मूल्य है | 1
2. 3 2 शून्य उत्पादन स्तर पर 1
3. 4 1 (ब) र्स्तु की कीमत 1
4. 1 4 (द) 1.5 1
5. 6 5 इस समस्या का सम्बन्ध उस वस्थती से है जब एक अथवव्यर्स्था तय करती है कक उसे ककन
र्स्तुओं और सेर्ाओं का उत्पादन करना है तथा ककतनी मात्रा का उत्पादन ककया जायेगा | 3
क्योंकक संसाधन समान्यत: सीवमत होते है तथा इनके र्ैकवल्पक प्रयोग होते हैं |
अथर्ा
उत्पादन संभार्ना र्क्र वनम्नविवखत पररवस्थवतयों में मूि बबदु से दूर वखसक सकता है :
१. संसाधनों में र्ृवि 1½
२. तकनीक में सुधार 1½
6. 5 6 Q 1
Ed= x
P

1
-2 = X

-2 (∆P) = 10 ½
∆P =-5
नयी कीमत = आरां भभक कीमत+ ∆P = 20+(-)5 = `15 ½

7. 8 9 बजट रे खा का समीकरण
m = PxQx + PyQy जहााँ m = आय;
1
इस प्रकार :
100 = 10Qx + 5Qy
3
अथर्ा
प्रवतस्थापन की सीमान्त दर से अवभप्राय उस र्ह दर से है, वजस पर एक उपभोक्ता एक र्स्तु 1
की अवतररक्त इकाई प्राप्त करने के विए दूसरी र्स्तु की मात्रा त्यागने को तैयार है|
जैसे जैसे उपभोक्ता अनावधमान र्क्र पर नीचे की ओर आता है प्रवतस्थापन की सीमान्त दर
िगातार घटती जाती है | यह दशावता है की जब उपभोक्ता X र्स्तु की अवतररक्त इकाई को प्राप्त
करता है तो र्ह Y र्स्तु की कम इकाईयो को त्याग करना चाहता है और इसका कारण है 3
घटती सीमान्त उपयोवगता का वनयम है|

8. 9 7 उत्पादक संतुिन की शते है :

१. MC = MR and
1
२. MC = MR, उत्पादन स्तर के बाद MC>MR 1

शतव 1 की व्याख्या
यकद MC<MR है तो , यह उत्पादक के विए िाभदायक होगा क्योकक हर नयी इकाई के
उत्पादन से िाभ में र्ृवि होगी, वजससे प्रेररत हो कर उत्पादक और उत्पादन करे गा तथा जब 1

2
58/1,2,3(CD)
 तक की MC = MR न हो जाये |
यकद MC>MR है, तब भी उत्पादक संतुिन में नही होगा क्योकक यहााँ िाभ संति ु न स्तर पर
िाभ के स्तर से कम होगा वजससे उत्पादक उत्पादन में तब तक कमी करे गा जब तक की
MC = MR न हो जाये |
शतव 2 की व्याख्या
यकद MC = MR स्तर के पश्चात MC<MR होता है, तो प्रत्येक नयी इकाई िाभ में र्ृवि 1
करे गी |
यकद MC = MR स्तर के पश्चात MC>MR होता है, तो प्रत्येक नयी इकाई िाभ में कमी
करे गी | अत: ऐसी वस्थवत में उत्पादक और उत्पादन नही करे गा तथा उत्पादक संतुिन में होगा |
9. 7 8 प्रर्ेश तथा बवहगवमन की स्र्तंत्रता का वनवहताथव है कक फमो के उद्योग में प्रर्ेश तथा बवहगवमन
पर कोई अर्रोध नही होते | जब र्तवमान फमे असामान्य िाभ अर्जजत करती है तो नयी फमे
उद्योग में प्रर्ेश के विए प्रेररत होती है, इससे बाज़ार पूती में र्ृवि होती है तथा कीमतों में तथा
िाभ में कमी होती है | प्रर्ेश तब तक चिता रहता है जब तक कक फमे के र्ि सामान्य िाभ
अर्जजत करती है |
इसी प्रकार जब फमो को हावन होती है तो कु छ फमे उद्योग को छोड़ देती है वजससे बाज़ार पूती 4
में कमी होती है पररणाम स्र्रूप कीमत बढ़ जाती है तथा हावन में कमी आने िगती है इस
प्रकार दीघव काि में फमे के र्ि सामान्य िाभ अर्जजत करती है |
(एक सार् मल्
ू यांकन ककया जाए)
10. 12 11 माना उपभोक्ता के र्ि दो र्स्तुओं X तथा Y का उपभोग करता है तब संतुिन की शते वनम्न है :
MU MU
१ = 1

२ जब र्स्तु की अवधक मात्रा का उपभोग ककया जाता है तब MU घटती है 1

व्याख्या :

१. यकद > इस वस्थवत में उपभोक्ता को Y र्स्तु के मुकाबिे X र्स्तु से अवधक 3

प्रवत रुपये सीमान्त उपयोवगता प्राप्त होती है अत: र्ह X र्स्तु को अवधक खरीदेगा और Y
र्स्तु को कम खरीदेगा | इससे में कमी आयेगी और बढ़ेगा | उपभोक्ता तब तक
MU 𝑀𝑈
Y को खरीदना जारी रखेगा जब तक = न हो जयये |

MU MU
(इस प्रकार < पर आधाररत उत्तर भी मान्य होगा)

२. जब उपभोग बढता है तो MU घटता है | अगर MU नहीं घटेगा तो उपभोक्ता संति

ु न 1
स्तर पर नही पहुचेगा |

3
58/1,2,3(CD)
11. 10 12 परीक्षक कृ पया जांच:ें
(i) (i) MC र्क्र,ATC तथा AVC र्क्रो
को उनके न्यूनतम वबन्दुओ पर काटता 3
है
(ii) उत्पादन में र्ृवि के साथ ATC
तथा AVC वक्रो के ीच की दरू ी
वनरं तर घटती है ।

MC, AVC तथय AC के बीच संबंध:

जब MC < ATC/AVC, ATC/AVC वगर जाता है
MC = ATC /AVC , ATC /AVC वस्थर होता है 3
MC > ATC /AVC , ATC /AVC बढ़ जाता है
दृविहीन वर्द्यार्जथयों के विए कोई भी उपयुक्त संख्यात्मक ताविका 3
12. 11 10 “न्यूनतम कीमत” सीमा वनधावरण से अवभप्राय उस न्यूनतम कीमत से है वजसे सरकार द्वारा
2
वनधावररत ककया जाता है तथा कोई भी उत्पादक अपने उत्पाद को इस कीमत से कम कीमत पर
नही बेच सकता है |
क्योकक समान्यता: यह कीमत संतिु न कीमत से अवधक होती है इसविए बाज़ार में पूर्जत 4
आवधक्य की वस्थती होती है अत: उत्पादक अपने उत्पाद को इस कीमत पर नही बेच पाता
तथा र्ह गैरकानूनी रूप से न्यूनतम कीमत से कम कीमत पर अपने उत्पाद को बेचने का प्रयत्न
करता है |
अथर्ा
एक र्स्तु का बाज़ार संतुिन में है | मांग में कमी मौजूदा कीमत पर पूर्जत आवधक्य पैदा करती
है। 6
- इसके पररणामस्र्रूप, वर्क्रेताओं के बीच प्रवतस्पधाव पैदा होती है, क्योंकक वर्क्रेता जो भी
मात्रा सब मौजूदा कीमत पर बेचना चाहते है, र्ह बेचने में सक्षम नहीं होंगें

- कीमत में वगरार्ट से मांग में र्ृवि और आपूर्जत में वगरार्ट होगी ।
- ऐसे पररर्तवन तब तक जारी रहते है जब तक बाजार नई संतुिन तक न पाँहुच जाय ।
(एक साथ मूल्यांकन ककया जाए)
अनुभाग ब
13. 16 14 कारखानों तथा र्ाहनों द्वारा प्रदूषण (कोई भी अन्य प्रासंवगक उदाहरण) 1
14. 15 13 द) उपरोक्त सभी 1
15. 14 16 जनता के पास करेंसी तथा बैंको के पास की मांग जमायें 1
16. 13 15 समग्र पूती से अवभप्राय ककसी अथवव्यर्स्था में उत्पादन हेतु वनयोवजत सभी अंवतम र्स्तुओं एर्ं 1
सेर्ाओं के मौकिक मूल्य से है |
17. 1 1 र्े आर्जथक चर वजन्हें समय के एक वनवश्चत वबन्दु पर मापा जाता है स्टॉक कहिाते है| जैसे – 1½
8 7
पूाँजी, आकद
जबकक र्े आर्जथक चर वजन्हें वनवश्चत समय अर्वध में मापा जाता है प्रर्ाह कहिाते है जैसे -
1½
आय, आकद

4
58/1,2,3(CD)
 (अन्य प्रासंवगक उदाहरण मूल्यांकन ककये जाने चावहए)
अथर्ा

पूंजीगत र्स्तुए,ं र्े रटकाऊ र्स्तुएं है वजनका र्स्तुओ और सेर्ाओ के उत्पादन में प्रयोग ककया 1½
जाता है जबकक

उपभोक्ता र्स्तुएं र्े र्स्तुएं है वजनका प्रयोग उपभोक्ताओ द्वारा अपनी आर्श्कताओं की संतुवि के 1½
विए ककया जाता है |
18. 17 18 1
वनर्ेश गुणक एक ऐसा मापक है जो वनर्ेश में प्रारं वभक पररर्तवन के फिस्र्रूप आय में अंवतम
पररर्तवन के अनुपात को मापता है |

वनर्ेश गुणक तथा सीमान्त उपभोग प्रर्ृवत के बीच प्रत्यक्ष सम्बन्ध होता है अथावत यकद सीमांत
उपभोग प्रर्ृवत का मूल्य ऊाँचा है तो वनर्ेश गुणक का मूल्य भी ऊाँचा होगा |
2
1
K = 1 – MPC
19. 20 21 कें िीय बैंक द्वारा अथवव्यस्था में मुिा की आपूर्जत तथा साख के वनयंत्रण के विए जो नीवत अपनाई 1
जाती है उसे मोकिक नीवत कहा जाता है मौकिक नीवत के प्रमुख उपकरण हैं : बैंक दर, रे पो दर,
ररर्सव रे पो दर, नकद आरवक्षत अनुपात, सांवर्वधक चिवनवध अनुपात आकद । 3
(कोई तीन उपकरण)
20. 21 19 पूणव रोजगार र्ह वस्थवत है वजसमें मजदूरी की प्रचवित दर पर जो श्रवमक कायव करने की इच्छा 1
र् योग्यता रखता है उसे कायव का अर्सर उपिब्ध हो |
यकद पूणव रोजगार के स्तर पर आर्श्यक कु ि पूर्जत से कु ि मांग अवधक है (AD>AS) तो यह
वस्थवत अवतररक्त मांग /स्फीवतक अन्तराि कहिाती है |इस वस्थवत में उपिब्ध र्स्तुएं एर्म्
3
सेर्ाएाँ कु ि मांग के आर्श्यक स्तर से कम रह जाती हैं तथा पूणव रोजगार की वस्थवत में अवतररक्त
र्स्तुओं एर्ं सेर्ाओं का उत्पादन संभर् नहीं होता वजससे सामान्य कीमत स्तर में र्ृवि होती है
(आरे ख आर्श्यक नहीं)
अथर्ा
आय का संति ु न स्तर के वनधावरण करने के दो वर्कल्प हैं:
2
i. समग्र मांग -समग्र पूर्जत अर्धारणा (AD-AS अर्धारणा)
ii. बचत -वनर्ेश अर्धारणा(S-I अर्धारणा)।

दोनों के बीच आपसी संबंध:

AD=AS (AD-AS अर्धारणा) 2
C+I = C+S
I=S (S-I अर्धारणा)
(आरे ख आर्श्यक नहीं)
21. 19 20 प्रत्यावशत उपभोग से अवभप्राय अथवव्यर्स्था में राष्ट्रीय आय के वनवश्चत स्तर पर वनयोवजत 1
उपभोग से है | स्र्ायत उपभोग से तात्पयव उस उपभोग स्तर से है जो राष्ट्रीय आय पर वनभवर
नही करता, अथावत शून्य आय स्तर पर उपभोग,
जबकक प्रेररत उपभोग से तात्पयव उस उपभोग स्तर से है जो प्रत्यक्ष रूप से आय पर वनभवर 3
करता है।

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22. 23 23 सरकारी बजट - सरकार की आगामी वर्त्तीय र्षव की वनयोवजत प्रावप्तयो और वनयोवजत व्यय 2
का वर्र्रण है| इसके प्रमुख घटक हैं :
अ) राजस्र् प्रावप्तयााँ - सरकार की र्ह प्रावप्तयााँ वजससे न तो सरकार की पररसम्पवत्तयो में कमी
आती है और न ही सरकार के दावयत्र्यो में र्ृवि होती है |
ब) पूंजीगत प्रावप्तयााँ – सरकार की र्ह प्रावप्तयााँ वजससे या तो सरकार की पररसम्पवत्तयो में
कमी आती है या तो सरकार के दावयत्र्यो में र्ृवि होती है |
स) राजस्र् व्यय – सरकार का ऐसा व्यय वजससे न तो सरकार की पररसम्पवत्तयो में र्ृवि होती
है और न ही सरकार के दावयत्र्यो में कमी आती है |
द) पूज
ं ीगत व्यय – सरकार का ऐसा व्यय वजससे या तो सरकार की पररसम्पवत्तयो में र्ृवि
1x4=4
होती है और या तो सरकार के दावयत्र्यो में कमी आती है |
अथर्ा
सरकार के बजट का उद्देश्य:
अ) संसाधनों का आबंटन - अथवव्यर्स्था में ऐसी अनेको आर्जथक कक्रयाये है जो वनजी क्षेत्र के विए
िाभदायक नही होती जैसे जि आपूर्जत, साफ़ सफाई आकद | जनता के वहत को ध्यान में रखते 3
हुए सरकार इन कक्रयाओ का संचािन स्र्यं करती है ताकक अवधकतम समाज कल्याण हो सके ,
साथ ही सरकार वर्वभन्न प्रकार की कर ररयायतें तथा आर्जथक सहायता प्रदान करके वनजी क्षेत्रो
के उत्पादकों को जनता के वहत में कायव करने के विए प्रोत्सावहत करती है |
ब) आर्जथक वस्थरता – आर्जथक वस्थरता का अथव है जब कीमतों में बड़े पैमाने पर उतार चढ़ार्
नही होता क्योकक कीमतों में उतार चढ़ार् से अथवर्यर्स्था में अवनवश्चतता की वस्थवत बनती है |
सरकार ऐसे उतार चढ़ार् होने पर आर्जथक सहायता तथा कर ररयायतें द्वारा वनयंत्रण करती है | 3
उदाहरण के विए स्फीवत अन्तराि की वस्थवत में सरकार करो को बढ़ा कर तथा अपने व्ययों को
कम करके समग्र मांग को कम करने में सहायता करती है जबकक अर्स्फीवत अन्तराि की वस्थवत
में आर्जथक सहायता तथा कर ररयायतें दे कर समग्र मांग को बढाने में सहायता करती है |
(ककसी अन्य कोई उपुक्त र्णवन हेतु अंक दें)
23. 22 24 वस्थर वर्वनमय दर: वस्थर वर्वनमय दरर्ह दर होती है जो सरकार द्वारा वनधावररत की जाती है 2
तथा वजस दर पर घरे िु मुिा का वर्देशी मुिा में वर्वनमय कक/जाता है ।
नम्य वर्वनमय दर: र्ह दर है वजसका वनधावरण वर्देशी वर्वनमय बाज़ार में वर्देशी वर्वनमय की 2
मांग और पूती की शवक्तयों द्वारा ककया जाता है।
प्रवतबंवधत वर्वनमय दर : यह वर्वनमय दर की ऐसी व्यर्स्था है वजसके अंतगवत कें िीय बैंक
2
बाज़ार शवक्तयों द्वारा वनधावररत वर्देशी वर्वनमय दर को आर्श्यक पररवस्थवतयों के अनुसार
हस्तक्षेप कर प्रभावर्त करता है |
24. 24 22 अ) प्रचािन अवधशेष = (ii)+ [(iv) + (vii) + (viii)] 1½
= 800+ 460 + 940 + 300 1
= ` 2500 करोड़ ½
ब) घरे िू आय = (i) + प्रचािन अवधशेष + (x) 1½
= 2,000 + 2500 + 200 1
= `4,700 करोड़ रुपए ½

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