Maharashtra HSC Economics Board Paper March 2026 with Answers

Q.1 (A) (i) Complete the correlation : Micro economics : Slicing method : : Macro economics : ______

Q.1 (A) (ii) Complete the correlation : Price rises : ______ : : Price falls : Contraction of supply

Q.1 (A) (iii) Complete the correlation : Salt : Essential good : : Diamond : ______

Q.1 (A) (iv) Complete the correlation : ______ : Base year price : : P₁ : Current year price

Q.1 (A) (v) Complete the correlation : Money market : Short term funds : : ______ : Long term funds

Q.1 (B) (i) Give economic term : Capacity of a commodity to satisfy human want.

Q.1 (B) (ii) Give economic term : A branch of economics which does microscopic study of the economy.

Q.1 (B) (iii) Give economic term : Cost incurred on fixed factors.

Q.1 (B) (iv) Give economic term : The cost incurred by the firm to promote sales.

Q.1 (B) (v) Give economic term : A budget in which estimated revenue and expenditure of the government are equal.

Q.1 (C) (i) Find the odd word : Types of utility : Place utility, Form utility, Time utility, Commodity utility

Q.1 (C) (ii) Find the odd word : Exceptions to the Law of supply : Giffen’s goods, Supply of labour, Perishable goods, Rare goods

Q.1 (C) (iii) Find the odd word : Selling cost : Free gifts, Patents, Hoardings, Window display

Q.1 (C) (iv) Find the odd word : Determinants of demand : Income, Cost of production, Size of population, Price

Q.1 (C) (v) Find the odd word : Types of Index Numbers : Selection Index Number, Price Index number, Value Index Number, Quantity Index Number

Q.1 (D) (i) Choose the correct option : Demand curve is parallel to ‘Y’-axis –

(a) Perfectly inelastic demand
(b) Relatively inelastic demand
(c) Perfectly elastic demand
(d) Unitary elastic demand

Q.1 (D) (ii) Choose the correct option : Revenue per unit of output sold –

(a) Marginal revenue
(b) Marginal cost
(c) Average revenue
(d) Total revenue

Q.1 (D) (iii) Choose the correct option : Statements that are incorrect in relation to index numbers –

(a) Index number is a geographical tool.
(b) Index numbers measure changes in the air pressure.
(c) Index numbers measure relative changes in economic variable.
(d) Index numbers are specialized averages.

Q.1 (D) (iv) Choose the correct option : Obligatory functions of the government –

(a) Provision of employment
(b) Maintaining internal law and order
(c) Welfare measures
(d) Exporting goods and services

Q.1 (D) (v) Choose the correct option : Examples of competitive demand are –

(a) Tea - Coffee
(b) Car - Petrol
(c) Sugar - Jaggery
(d) Pen - Ink

Q.2 (A) (i) Identify and explain the concept : Shabana paid wages to workers in her factory.

Q.2 (A) (ii) Identify and explain the concept : India purchased petroleum from Iran.

Q.2 (A) (iii) Identify and explain the concept : Gopal collected information about output of rice, wheat, cotton and jowar produced in 2016 and 2020 and derived Index Number.

Q.2 (A) (iv) Identify and explain the concept : 40% fall in price of a commodity leads to 40% rise in quantity demanded.

Q.2 (A) (v) Identify and explain the concept : Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year.

Q.2 (B) (i) Distinguish between : Micro Economics and Macro Economics.

Q.2 (B) (ii) Distinguish between : Increase in demand and Expansion of demand

Q.2 (B) (iii) Distinguish between : Average cost and Average revenue

Q.2 (B) (iv) Distinguish between : Simple Index Number and Weighted Index Number

Q.2 (B) (v) Distinguish between : Direct tax and Indirect tax.

Q.3 (i) Explain any four features of utility.

Q.3 (ii) Explain Ratio method of measuring elasticity of demand.

Q.3 (iii) Explain any four sources of non-tax revenue of the government.

Q.3 (iv) Explain the concept of foreign trade and its types.

Q.3 (v) Calculate Price Index Number from the given data :

Q.4 (i) State with reasons whether you agree or disagree : Perfect competition means monopolistic competition.

Q.4 (ii) State with reasons whether you agree or disagree : Scope of micro economics includes only the theory of product pricing.

Q.4 (iii) State with reasons whether you agree or disagree : There are many features of National Income.

Q.4 (iv) State with reasons whether you agree or disagree : Public expenditure includes only revenue expenditure.

Q.4 (v) State with reasons whether you agree or disagree : The concept of total utility and marginal utility is the same.

Q.5 (i) Observe the following table and answer the questions given below it :

(a) Complete the above supply schedule. (2)
(b) Draw a diagram for the above supply schedule. (2)

Q.5 (ii) Observe the following figures and answer the questions given below them :

[Figure ‘A’: price on the Y-axis and quantity demanded on the X-axis; the demand curve DD is a vertical straight line parallel to the Y-axis.]

[Figure ‘B’: price on the Y-axis and quantity demanded on the X-axis; DD is a smooth downward sloping curve (rectangular hyperbola). Price falls from P to P₁ and quantity demanded rises from Q to Q₁.]

(1) Identify and explain the degree of elasticity of demand in figure ‘A’. (2)
(2) Identify and explain the degree of elasticity of demand in figure ‘B’. (2)

Q.5 (iii) Study the following passage and answer the questions given below it :

Digital marketing is also called online marketing. We can connect with probable customers by using internet and other digital communication media. This includes not only email, social media, and web-based advertising but also text and multimedia messages as a marketing channel. In practice, digital marketing typically refers to marketing campaigns that appear on a computer, phone, tablet or other devices. It can take many forms, including online video, display advertisement, search engine marketing, paid social- advertisement and social media post. Digital marketing is often compared to traditional marketing such as magazine advertisement, direct mail, etc.

In America, nearly three quarters of Americans go online on a daily basis. Not only that, 43% go online more than once a day and 26% are online almost constantly so they find it more convenient to use digital marketing. A digital marketing strategy allows you, to get advantage of different digital channels such as social media, pay-per-click, search engine, e-mail marketing etc., to connect with existing customers and individuals interested in your product or service. As a result one can build a brand, which provides a great customer experience.

Questions :
(1) What is Digital marketing? (1)
(2) What percentage of Americans are online more than once? (1)
(3) Write your opinion from the above passage. (2)

Q.6 (i) State and explain the law of demand with exceptions.

Q.6 (ii) Explain the practical difficulties involved in the measurement of national income.

Q.6 (iii) Explain the functions of Reserve Bank of India.