Maharashtra HSC Economics Board Paper June 2026 with Answers

Q.1 (A) (i) Complete the following statement : E_d = 0 in case of _______.

Q.1 (A) (ii) Complete the following statement : Balance of trade is also referred to as _______.

Q.1 (A) (iii) Complete the following statement : The famous book “General Theory of Employment, Interest and Money” was published by _______.

Q.1 (A) (iv) Complete the following statement : When a government borrows from its citizens, banks, central bank, industries, etc. it is known as _______.

Q.1 (A) (v) Complete the following statement : A period of time in which all factors of production and costs are variable is known as _______.

Q.1 (B) (i) Complete the correlation : ______ : Teacher : : Form utility : Toys made of clay

Q.1 (B) (ii) Complete the correlation : Perfect competition : Large number of sellers : : ______ : Few sellers

Q.1 (B) (iii) Complete the correlation : Theoretical difficulty : Unpaid services : : ______ : Valuation of inventories

Q.1 (B) (iv) Complete the correlation : Pen and ink : ______ : : Tea and coffee : Substitutes

Q.1 (B) (v) Complete the correlation : Trends in exports : Petroleum products : : ______ : Gold

Q.1 (C) (i) Give economic term : A market for long term funds, both equity and debt raised within and outside the country.

Q.1 (C) (ii) Give economic term : Demand for a commodity which can be put to several uses.

Q.1 (C) (iii) Give economic term : The total quantity of commodity available for sale with a seller at a particular point of time.

Q.1 (C) (iv) Give economic term : Index number which is constructed with some specific purpose.

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

Q.1 (D) (i) Find the odd word : Scope of macro economics : Theory of income and employment, Theory of product pricing, Theory of general price level and inflation, Macro theory of distribution

Q.1 (D) (ii) Find the odd word : Methods of measurement of national income : Output method, Income method, Expenditure method, Ratio method

Q.1 (D) (iii) Find the odd word : Reasons for downward sloping demand curve : Law of supply, Income effect, Substitution effect, New consumers

Q.1 (D) (iv) Find the odd word : Exceptions to the law of supply : Agricultural goods, Perishable goods, Rare goods, Giffen’s paradox

Q.1 (D) (v) Find the odd word : Types of utility : Form utility, Total utility, Time utility, Place utility

Q.2 (A) (i) Identify and explain the concept : Arnav sells 80 dozens of mangoes daily at ₹ 500/- per dozen.

Q.2 (A) (ii) Identify and explain the concept : Demand for sugar falls by 10% when the price of sugar rises by 10%.

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

Q.2 (A) (iv) Identify and explain the concept : Shabana paid wages to workers in her factory and interest on her bank loan.

Q.2 (A) (v) Identify and explain the concept : Vrinda receives monthly pension of ₹ 5000/- from the state government.

Q.2 (B) (i) Distinguish between : Direct Demand and Indirect Demand

Q.2 (B) (ii) Distinguish between : Laspeyre’s Price Index Number and Paasche’s Price Index Number

Q.2 (B) (iii) Distinguish between : Direct Tax and Indirect Tax

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

Q.2 (B) (v) Distinguish between : Total Cost and Total Revenue

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

Q.3 (ii) Explain any four roles of foreign trade.

Q.3 (iii) Explain any four features of micro economics.

Q.3 (iv) Explain any four factors influencing elasticity of demand.

Q.3 (v) Explain any four types of monopoly.

Q.4 (i) State with reasons whether you agree or disagree : There are many assumptions to the law of supply.

Q.4 (ii) State with reasons whether you agree or disagree : Product differentiation is the only feature of monopolistic competition.

Q.4 (iii) State with reasons whether you agree or disagree : Marginal utility and total utility are the same.

Q.4 (iv) State with reasons whether you agree or disagree : Index numbers have limitations.

Q.4 (v) State with reasons whether you agree or disagree : Public finance is different from private finance.

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

(a) Complete the above table. (1)
(b) Calculate the Quantity Index Number from the above table. (3)

Q.5 (ii) Observe the following diagram and answer the questions given below it :

In the following diagram A E is the linear demand curve of a commodity. On the basis of the given diagram, state whether the following statements are true or false:

[Figure: A straight-line demand curve AE with price on the Y-axis and quantity demanded on the X-axis. A lies on the Y-axis and E on the X-axis. Points B, D and C are marked on the line in that order from A towards E; D is at the middle of AE, B lies between A and D, and C lies between D and E.]

(1) Demand at point ‘C’ is relatively elastic demand. (1)
(2) Demand at point ‘B’ is unitary elastic demand. (1)
(3) Demand at point ‘D’ is perfectly inelastic. (1)
(4) Demand at point ‘A’ is perfectly elastic demand. (1)

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

The Finance Ministry has proposed a two slab GST structure instead of multiple slabs. This reform will make the tax system simpler, benefiting micro, small and medium enterprises and also making goods cheaper for consumers. Apart from regular tax revenue, the central government earns a large share through Cess and Surcharge.

For the financial year 2025-26, the government expects ₹ 5.91 lakh crore from Cess and Surcharge which is a 9.43% increase compared to the previous year.

Recently, GST rates on several items were reduced. This gives relief to consumers, increases the purchasing power and boosts demand in the economy. However, such cuts reduce the government’s revenue. According to officials, this loss can be managed through better tax collection and other fiscal measures.

Today, India’s public finance system faces major challenges:

• Revenue shortfall with increasing expenditure.
• Need to reduce fiscal deficit while promoting investment.

To address this, the government must focus on tax reforms, prioritizing expenditure and long term infrastructure and investment.

Questions :
(1) How much revenue does the government expect from Cess and Surcharge in F.Y. 2025-26? (1)
(2) Mention the major challenges faced by India’s public finance system today. (1)
(3) Express your opinion with reference to the given passage. (2)

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

Q.6 (ii) Define National Income and explain its features.

Q.6 (iii) Explain the role of money market in India.