CBSE Class 12 Economics (Part B) Previous Year Question Paper 2013

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This is the CBSE Class 12 Economics (Part B) Previous Year Question Paper from 2013, focusing on the topic of Methods of Calculating National Income. The paper includes questions requiring the calculation of sales and Gross Value Added at Factor Cost using provided data. These questions are typically worth 3 marks each and assess students' understanding of key formulas and their application in national income accounting. Solving this board question paper helps students familiarise themselves with the exam pattern, question types, and marking scheme, thereby enhancing their preparation and performance in the upcoming board examinations.

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Quick info

BoardCBSE
Class12
SubjectEconomics Part B
Session2013
LanguageEnglish
TypePrevious Year Question Paper
Exam typeBoard Exam

Paper pattern

The paper contains 3-mark questions requiring calculations related to national income.

Topics covered

Paper topics

  • National Income
  • Gross Value Added
  • Net Value Added
  • Factor Cost
  • Market Price
  • Intermediate Consumption
  • Consumption of Fixed Capital
  • Change in Stock
  • Subsidies
  • Profit
  • Sales
  • Indirect Taxes
  • Excise Duty
  • Sales Tax

Important topics

  • Methods of Calculating National Income
  • Calculating Sales
  • Calculating Gross Value Added at Factor Cost

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Question paper text

Methods of Calculating National Income

3 Marks Questions

  1. Calculate sales from the following data (All India 2013)

S.No. Contents ₹ (in lakhs)

  1. Subsidies 200
  2. Opening Stock 100
  3. Closing Stock 600
  4. Intermediate Consumption 3000
  5. Consumption of Fixed Capital 700
  6. Profit 750
  7. Net Value Added at Factor Cost 2000

Ans. GVA<sub>MP</sub> = Net Value Added at Factor Cost (NVA<sub>FC</sub>) - Subsidies + Consumption of Fixed Capital <math>GVA_{MP} = 2000 - 200 + 700 = ₹ 2500 lakh</math>

Gross Value Added at Market Price (GVA<sub>MP</sub>) = Value of Output (Sales + Change in Stock) - Intermediate Consumption

2500 = Sales + (600 - 100) - 3000 (2) <math display="block">Sales = 2500 + 3000 - 500 = 5500 - 500</math>

Sales = ₹ 5000 lakh (1) ...

  1. Calculate sales from the following data (Delhi 2013)

S.No. Contents ₹ (in lakhs)

  1. Intermediate Cost . 700
  2. Consumption of Fixed Capital 80
  3. Change in Stock (-- )50
  4. Subsidy 60
  5. Net Value Added at Factor Cost 1300
  6. Exports 50

Ans. Gross Value Added at Market Price (GVA<sub>MP</sub>) = Net Value Added at Factor Cost (NVA<sub>FC</sub>)

Subsidies + Consumption of Fixed Capital

GVA<sub>MP</sub> = ₹ 1300 - 60 + 80

= ₹ 1320 lakh

<math>GVA_{MP} = Value of Output (Sales + change in Stock) - Intermediate Cost (2)</math>

<math>1320 = Sales + (-50) - 700</math>

<math>Sales = 1320 + 50 + 700</math>

Sales = ₹ 2070 lakh (1)

  1. Calculate sales from the following data (Delhi 2013)

S.No. Contents ₹ (in lakhs)

  1. Net Value Added at Factor Cost 560
  2. Depreciation 60
  3. Change in Stock (-)30
  4. Intermediate Cost - 1000
  5. Exports 200
  • (Vi) Indirect Taxes 60

Ans. Gross Value Added at Market Price (GVA<sub>MP</sub>) = NVA<sub>FC</sub> + NIT + Depreciation

<math>=560 + 60 + 60</math>

= ₹ 680 lakh

NIT = Indirect tax - Subsidies = <math>60 - 0 = ₹60</math> lakh (2) GVA<sub>MP</sub> = Value of Output (Sales + Change in Stock) - Intermediate Cost

<math>680 = Sales + (-30) - 1000</math>

Sales = 680 + 1000 + 30 = ₹ 1710 lakh (1)

  1. Calculate Gross Value Added at Factor Cost (Delhi 2012)

S.No. Contents ₹ (in crores)

  1. Units of Output Sold (units) 1000
  2. Price Per Unit of Output 30
  3. Depreciation 1000
  4. Intermediate Cost 12000
  5. Closing Stock 3000
  6. Opening Stock 2000
  7. Excise Duty 2500
  8. Sales Tax 3500

Frequently asked questions

What is this document?

This is a CBSE Class 12 Economics (Part B) Previous Year Question Paper from 2013, focusing on the topic of Methods of Calculating National Income.

What is the main topic covered?

The primary focus is on the methods and calculations involved in determining National Income, including concepts like Gross Value Added and Sales.

How can solving this paper help?

Solving this previous year question paper helps students understand the exam pattern, question difficulty, and marking scheme for the CBSE Class 12 Economics board exam.

What type of questions are included?

The paper includes calculation-based questions where students need to apply formulas to find values like Sales and Gross Value Added using given data.

What is the benefit of practicing with PYQs?

Practicing with previous year question papers like this one is crucial for effective exam preparation, improving accuracy, and boosting confidence for the board exams.

Important links

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