ISC 2023 Economics Question Paper for Class 12

About this paper

This is the ISC Class 12 Economics paper from the 2023 board examination, code 1223-856. It carries 80 marks and lasts three hours, with fifteen minutes extra for reading only. All thirteen questions are compulsory. Section A is Question 1, sixteen one-mark items mixing multiple choice with very short answers. Section B, worth 32 marks, has eight short questions of four marks each, and Section C, worth 32 marks, has four long questions of eight marks each. The last of these is a passage on the falling rupee–dollar exchange rate. Internal choices are given in Questions 5, 8, 11 and 12. The paper covers utility, elasticity, costs, market forms, money, the multiplier, public finance and national income. This copy has the questions only.

Exam

ISC Class 12

Subject

Economics

Year

2023

Paper code

1223-856

Maximum marks

80

Time allowed

3 hours + 15 min reading

Questions

13

Pages

7

Answers included

No, questions only

Paper pattern

• Section A

  16 marks

  Question 1: sixteen objective and very short parts, one mark each

• Section B

  32 marks

  Questions 2–9, four marks each; internal choice in Questions 5 and 8

• Section C

  32 marks

  Questions 10–13, eight marks each, the last a passage on the rupee–dollar rate; internal choice in Questions 11 and 12

Topics covered

• Utility and consumer equilibrium
• Elasticity of demand and supply
• Law of supply
• Costs and revenue
• Price ceiling
• Perfect competition and oligopoly
• Money and central banking
• Investment multiplier
• Public revenue and expenditure
• National income
• Foreign exchange rate

Questions from this paper

1. Why is the AVC curve U-shaped?
2. Mention any one difference between the impact of a tax and the incidence of a tax.
3. What is meant by a sinking fund?
4. Explain a price ceiling with the help of a diagram.
5. State any two features of oligopoly.
6. Define income elasticity of demand. When can it be negative?