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Class 12 Economics Case Study Questions

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In this article, we will discuss how to download CBSE class 12 Economics Case Study Questions from the myCBSEguide App and our Student Dashboard for free. For the students appearing for class 12 board exams from the commerce/ humanities stream, Economics is a very lucrative and important subject. It is a very high-scoring subject that aids the students to increase their percentile and excel in academics.

CBSE Class 12 Economics Case Study Questions

The exam is divided into 2 parts:

  • Macro Economics
  • Indian Economics Development

12 Economics Case Study Questions

CBSE introduced case-based questions for class 12 in the year 2021-22 to enhance critical thinking in students. CBSE introduced a few changes in the question paper pattern to enhance and develop analytical and reasoning skills among students. Sanyam Bharadwaj, controller of examinations, CBSE quoted that the case-based questions would be based on real-life situations encountered by students.

The purpose was to drift from rote learning to competency and situation-based learning. He emphasized the fact that it was the need of the hour to move away from the old system and formulate new policies to enhance the critical reasoning skills of students. Introducing case study questions was a step toward achieving the goals of the National Education Policy (NEP) 2020.

What is a Case Study Question?

As part of these questions, the students would be provided with a comprehensive passage, based on which analytical questions will have to be solved by them. The students will have to read the given passage thoroughly before attempting the questions. In The current examination cycle (2021-22), case-based questions have a weightage of around 20%.

Types of Case Study Questions in Economics

CBSE plans to increase the weightage of such questions in the following years, so as to enhance the intellectual and analytical abilities of the students. Case-based questions are predominantly of 3 types namely:

  1. Local
  2. Global
  3. Inferential

Local questions

Local questions can be easily solved as the answers are there in the given passage itself.

Global Questions

For Global questions, the students will have to read the passage in depth, analyze it and then solve it.

Inferential questions

Inferential questions are the ones that would require the student to have complete knowledge of the topic and could be answered by application of the concepts. The answers to such questions are tricky and not visible in the given passage, though the passage would highlight the concept on which the questions would be asked by CBSE.

HOTS Questions in Class 12 Economics

Personally, the concept of case-based questions is not new since CBSE has always included questions based on Higher Order Thinking Skills (HOTs). Though now we will have an increased percentage of such questions in the question paper.

Advantages of Case-based Questions

Class 12 Economics has two books and CBSE can ask Case study questions from any of them. Students must prepare themselves for both the books. They must practice class 12 Economics case-based questions as much as possible.

Case study questions:

  1. Enhance the intellectual and analytical abilities of the students.
  2. Provide a complete and deeper understanding of the subject.
  3. Inculcate intellectual reasoning and scientific temperamental in students.
  4. Help students retain knowledge for a longer time.
  5. Would definitely help to discard the concept of memorizing insanely and cramming without a factual understanding of the content.
  6. The questions would help to terminate the existing system of education in India that promotes rote learning.

Sample case study questions (Economics) class 12

Here are some case study questions for CBSE class 12 Economics. If you wish to get more case study questions and other related study material, download the myCBSEguide App now. You can also access it through our Student Dashboard.

Case Study 1

Keeping in view the continuing hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements, the Reserve Bank of India has extended the relaxation of the minimum daily maintenance of the CRR of 80% for up to September 25, 2020. Currently, CRR is 3% and SLR is 18.50%.

“As announced in the Statement of Development and Regulatory Policies of March 27, 2020, the minimum daily maintenance of CRR was reduced from 90% of the prescribed CRR to 80% effective the fortnight beginning March 28, 2020 till June 26, 2020, that has now been extended up to September 25, 2020,” said the RBI.

Q.1 The full forms of CRR and SLR are:

  1. Current Reserve Ratio and Statutory Legal Reserves
  2. Cash Reserve Ratio and Statutory Legal Reserves
  3. Current Required Ratio and Statutory Legal Reserves
  4. Cash Reserve Ratio and Statutory Liquidity Ratio (ans)

Q.2 What will be the value of the money multiplier?

  1. 33.33
  2. 5.4
  3. 4.65 (ans)
  4. None of these

Q.3 SLR implies:

  1. a) Certain percentage of the total banks’ deposits has to be kept in the current account with RBI
  2. b) Certain percentage of net total demand and time deposits have to be kept by the bank themselves (ans)
  3. c) Certain percentage of net demand deposits has to be kept by the banks with RBI
  4. d) None of the above

Q.4 Decrease in CRR will lead to __.

  1. a) fall in aggregate demand in the economy
  2. b) rise in aggregate demand in the economy (ans)
  3. c) no change in aggregate demand in the economy
  4. d) fall in the general price level in the economy

Case Study 2

An important lesson that the COVID-19 pandemic has taught the policymakers in India is to provide greater impetus to sectors that make better allocation of resources and reduce income inequalities. COVID-19 has also taught a lesson that in crisis the population returns to rely on the farm sector. India has a large arable land, but the farm sector has its own structural problems. However, directly or indirectly, 50 percent of the households still depend on the farm sector. Greater support to MSMEs, higher public expenditure on health and education and making the labour force a formal employee in the economy are some of the milestones that the nation has to achieve.

One of the imminent reforms to be done in the country is labour reforms. Labour laws are outmoded in India, and some of these date back to the last century.

India’s complex labour laws have been blamed for keeping manufacturing businesses small and hindering job creation. Industry hires labour informally because of complex laws and that is responsible for low wages.

  1. Which types of structural problems are faced by the agricultural sector?
  2. “It is necessary to create employment in the formal sector rather than in the informal sector.’’ Defend or refute the given statement with valid argument.
  3. Hired labour comes in …………………. (Informal organisation / formal organisation)
  4. What do you mean by MSMEs?

Case Study 3

People spend to acquire information relating to the labour market and other markets like education and health. This information is necessary to make decisions w.r.t investment in human capital and its efficient utilization. Thus, expenditure incurred for acquiring information relating to the labour market and other markets is also a source of human capital formation.

Q1. Which of the following is the source of human capital formation in India?

  1. Health
  2. Migration
  3. Acquiring information
  4. All of these (ans)

Q2. Education provides

  1. Private benefit
  2. Social benefit
  3. Both 1) and 2) (ans)
  4. None of these

Q3. __ persons contribute more to the growth of an economy.

  1. Educated
  2. Healthy
  3. Both 1) and 2) (ans)
  4. None of these

Q4. Training given by a company to its employees is generally__________

  1. Investment (ans)
  2. Social wastage
  3. Both 1) and 2)
  4. None of these

Tips to Solve Case Study Questions in Economics

Let’s understand how you can solve case study questions in class 12 Economics. The two books are Macroeconomics and Indian Economic Development.

  1. Read the passage thoroughly
  2. Can follow a reversal pattern, especially macroeconomics questions, i.e. read questions first and then look for the answers in the passage.
  3. In case the question asked is about Indian Economic Development, read the passage very carefully as most of the answers would be hidden in the passage itself.
  4. Macro Economics questions will be more application-based and would test your conceptual clarity.
  5. Answer briefly and precisely.

Important Chapters – Economics Case Study Questions

Following are some of the very important topics that need to be prepared very thoroughly under CBSE class 12 Economics. We expect that CBSE will certainly ask case-based questions from these chapters.

  • National income and its aggregates
  • Money
  • Banking
  • Government budget
  • Current challenges faced by the Indian economy

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