Class 12 – Economics Worksheet

Chapter – National Income and Related Aggregates

1. Calculate NDP at FC. (Ans. = ₹ 6,400 (v) Subsidies 70
crores) (vi) Factor income to abroad 250
Particulars ₹ in
crores 5. Calculate Consumption of Fixed Capital
(i) GNP at MP 8,000 (Ans. = ₹ 900 crores)
(ii) Depreciation 600
(iii) Net Factor Income from 300 Particulars ₹ in
Abroad crores
(iv) Net Indirect taxes 700 (i) National Income or NNP 4,000
at FC
(ii) GDP at MP 5,000
2. Calculate GDP at MP. (Ans. = ₹ 2,250 (iii) Net Indirect Tax 300
crores) (iv) Net Factor income 200
from abroad
Particulars ₹ in
crores
(i) NNP at FC 2,000 6. Calculate Net Indirect Tax (Ans, = ₹ 600
(ii) Depreciation 200 crores)
(iii) Subsidies 70
(iv) Factor Income from 110 Particulars ₹ in
Abroad crores
(v) Indirect Taxes 180 (i) GNP at MP 7,000
(vi) Factor Income to 50 (ii) Domestic Income or 6,200
Abroad NDP at FC
(iii)Depreciation 600
(iv) Net Factor income from (-) 400
3. Calculate Domestic Income or NDP at FC abroad
(Ans. = ₹ 5,400 crores)
Particulars ₹ in 7. From the data given below, prove that ‘Net
crores Value Added at Factor Cost’ is equal to
(i) GNP at MP 6,000 ‘Income Generated’. (Ans, = ₹ 800
(ii) Subsidies 200 crores)
(iii) Depreciation 100
(iv) Net Factor income from 400 Particulars ₹ in
abroad crores
(v) Indirect tax 300 (i) Opening Stock 1,200
(ii) Closing Stock 1,400
(iii) Purchase of raw 300
4. National Income or NNP at FC (Ans. = ₹ materials
5,050 crores) (iv) Sales 1,200
(v) Corporate tax 100
Particulars ₹ in (vi) Undistributed profits 50
crores
(vii) Dividends 50
(i) GDP at MP 5,500
(viii) Rent 150
(ii) Consumption of Fixed 300
(ix) Interest 100
Capital
(x) Depreciation 200
(iii) Goods and Services 120
(xi) Indirect taxes 300
Tax
(xii) Subsidies 200
(iv) Factor income from 150
(xiii) Wages and salaries 250
abroad
(xiv) Mixed income of the 100
 self-employed (v) GNP at MP 1,07,000

8. Estimate the value of Net Domestic 11. Calculate Net National Product at Factor
Product at factor cost (NDP at FC) (Ans. = Cost. (Ans. = ₹ 2,590 crore)
₹ 4,700 crores)
Particulars ₹ in
Particulars ₹ in crores
crores (i) Mixed Income 1,500
(i) Household Consumption 2,000 (ii) Net Domestic fixed 250
Expenditure capital formation
(ii) Government final 1,500 (iii) Change in Stock (-) 50
consumption expenditure (iv) Government final 500
(iii) Gross domestic fixed 1,000 consumption expenditure
capital formation (v) Net Exports 60
(iv) Net additions to stock 300 (vi) Net Indirect Taxes 100
(v) Exports 700 (vii) Net factor income to 70
(vi) Net Indirect taxes 350 abroad
(vii) Imports 200 (viii) Private final 2,000
(viii) Consumption of fixed 250 consumption expenditure
capital (ix) Consumption of fixed 30
capital

9. On the basis of the given data, estimate the

value of Domestic Income. (Ans = ₹ 840 12. Calculate Domestic Income. (Ans. ₹ 4,755
crores) crores)

Particulars ₹ in Particulars ₹ in
crores crores
(i) Household Consumption 600 (i) Rent 155
Expenditure (ii) Government final 2,500
(ii) Gross fixed capital 200 consumption expenditure
formation (iii) Subsidies 120
(iii) Change in Stock 40 (iv) Gross domestic fixed 1,190
(iv) Government final 200 capital formation
consumption expenditure (v) Net factor income to 125
(v) Net Exports (-) 40 abroad
(vi) Net Indirect Taxes 120 (vi) Net decrease in 100
(vii) Net factor income from 20 inventories
abroad (vii) Net exports (-) 420
(viii) Consumption of fixed 40 (viii) Net indirect taxes 470
capital (ix) Private final 2,200
consumption expenditure
(x) Current replacement cost 145
10. Calculate (a) Depreciation; (b) Subsidies;
(c) NDP at FC (Ans. (a) = ₹ 7,000 crores;
(b) = ₹ 2,000 crores; (c) = ₹ 88,422 13. Calculate Gross National Product at
crores) Market Price by: (a) Expenditure Method
and (b) Income Method. (Ans. (a) = ₹ 280
crore, (b) = ₹ 280 crore)
Particulars ₹ in
crores Particulars ₹ in
(i) GNP at FC 95,000 crores
(ii) Indirect Tax 14,000 (i) Compensation of 100
(iii) NDP at MP 1,00,422 Employees
(iv) NNP at MP 1,00,000 (ii) Private final consumption 200
 expenditure crores
(iii) Rent 20 (i) Interest 80
(iv) Government final 50 (ii) Value of output:
consumption expenditure (a) Primary sector (a) 2,000
(v) Profits 10 (b) Secondary sector (b)1,000
(vi) Interest 10 (c) Tertiary sector (c) 900
(vii) Gross domestic capital 60 (iii) Compensation of 490
formation employees
(viii) Net imports 10 (iv) Net factor income from (-) 10
(ix) Consumption of fixed 20 abroad
capital (v) Private final 1,030
(x) Net indirect taxes 30 consumption expenditure
(xi) Net factor income from (-) 20 (vi) Intermediate cost:
abroad (a) Primary sector (a) 1,260
(xii) Change in stock 10 (b) Secondary sector (b) 620
(xiii) Mixed Income 110 (c) Tertiary sector (c) 530
(vii) Rent and royalty 50
14. Calculate compensation of Employees (viii) Government final 150
form the following data: (Ans = ₹ 45 consumption expenditure
crores) (ix) Gross domestic fixed 260
capital formation
Particulars ₹ in (x) Opening stock 80
crores (xi) Profit 60
(i) Profits after tax 20 (xii) Closing stock 140
(ii) Interest 45 (xiii) Net exports (-) 10
(iii) Gross domestic product 200 (xiv) Net indirect taxes 160
at Market Price (xv) Consumption of fixed 80
(iv) Goods and Services Tax 10 capital
(v) Consumption of fixed 50 (xvi) Mixed income of self- 570
capital employed
(vi) Rent 25
(vii) Corporate Tax 5
16. If Nominal GDP is ₹1,200 and Price Index
(with base 100) is 120. Calculate Real
15. From the following data relating to an GDP.
economy, calculate National Income by
Expenditure, Income and Value-Added 17. If Nominal GDP is ₹330 and Real GDP is
Method: (Ans. = ₹ 1,240 crore) ₹300. Calculate Price Index (with base
100).
Particulars ₹ in

CBSE Examination Questions from 2025 exam

Chapter – National Income and Related Aggregates
1. From the items given in Column-I and Column-II, choose the correct pair.
Column-I Column-II
(a) Income from Property (i) Old age pension
(b) Income from Entrepreneurship (ii) Profit
(c) Mixed Income (iii) Rent free accommodation from an employer
(d) Compensation of Employees (iv) Interest from capital
Options:
 (A) (a) – (i) (B) (b) – (ii) (C) (c) – (iii) (D) (d) – (iv)

2. (a) Calculate the value of Net Value Added at Factor Cost (NVA at FC): (3 Marks)
S.No Particulars Amount (In ₹ crore)
(i) Operating Surplus 3,740
(ii) Increase un unsold stock 600
(iii) Sales 10,625
(iv) Purchase of raw materials 2,625
(v) Consumption of fixed capital 500
(vi) Subsidies 400
(vii) Indirect taxes 1,200
OR
(b) Distinguish between Net Factor Income from Abroad (NFIA) and Net Exports (X — M).

3. (a)
i. Explain any two precautions to be adopted while estimating National Income by
Expenditure Method. (3 Marks)
ii. “Higher Gross Domestic Product (GDP) always means higher per capita availability
of goods in the economy.”
Defend or refute the given statement as the index of welfare of the people of that
country. (3 Marks)

OR
(b) i. Distinguish between Stock and flow variables, using suitable examples. (3 Marks)
ii. Explain the components of ‘Profit’ as per Income Method of estimating National
Income (NNP at FC). (3 Marks)

Chapter – Money and Banking

1. "Irfaan (a student) borrows 80,000 to finance his college fee. He plans to begin repaying the loan six
months after his graduation, making payments over a span of ten years.
Based on above text, identify the indicated function of money.
Options:
(A) Medium of Exchange (B) Unit of Account
(C) Standard of Deferred Payments (D) Store of Value

2. In the context of the Commercial Banks, which of the following statements are correct?
(I) Deposits received are liabilities for Commercial Banks.
(II) They are creator of credit in the economy.
(III) They accept deposits from general public.
(IV) They accept deposits on behalf of Reserve Bank of India.
Options:
(A) (I), (II) and (III) (B) (II) and (III)
(C) (I) and (II) (D) (I) and (IV)

3. Suppose in an economy, primary deposits are 500, if the Reserve Ratio is 25%. Estimate the total
deposits created and the total lending by the banking system. (4 Marks)
Chapter – Government Budget and the Economy
1. From the set of terms given in Column-I and Column-II, choose the correct pair:
Column-I Column-II
(a) Non-tax Revenue (i) Goods and Services Tax
(b) Indirect Tax (ii) Free-rider
(c) Capital expenditure (iii) Borrowings
(d) Private goods (iv) Rivalrous in nature
Options:
(A) (a) – (i) (B) (b) – (ii) (C) (c) – (iii) (D) (d) – (iv)

2. "Under the Ayushmaan Bharat Scheme, the government provides free medical treatment to the
poorer section of the society." Identify and explain the nature of budget expenditure and its objective,
indicated in the given statement. (4 Marks)

Chapter – Balance of Payments

1. In the context of Current Account transactions of Balance of Payment, identify the incorrect
statement from the following:
(Choose the correct option)
Options:
(A) Export of goods and services are recorded as credit items.
(B) Import Of goods and services are recorded as debit items.
(C) All transfer payments are recorded as debit items.
(D) All transfer receipts are recorded as debit items.

2. If a country exports goods worth of 600 crores and imports goods worth of 450 crores, the value of
Balance of Trade of the country would be crores.
(A) deficit, 150 (B) surplus, 150 (C) deficit, 1,050 (D) surplus, 1,050

3. "The Government had launched Incredible India Campaign to promote tourism in various parts of
the country." Elaborate the impact of this campaign on foreign exchange reserves and Balance of
Payment of India. (3 Marks)