Maharashtra HSC Economics Board Paper March 2025 with Answers

Q.1 (A) (i) Give economic term : A desire which is backed by willingness to purchase and ability to pay.

Q.1 (A) (ii) Give economic term : Deposits that are withdrawable on demand.

Q.1 (A) (iii) Give economic term : Wear and tear of capital assets, due to their use in the process of production.

Q.1 (A) (iv) Give economic term : Elasticity resulting from a proportionate percentage change in the quantity demanded due to a proportionate percentage change in price.

Q.1 (A) (v) Give economic term : The difference between the value of a country’s exports and imports for a given period.

Q.1 (B) (i) Complete the correlation : Internal Trade : Home Trade : : International Trade : ______

Q.1 (B) (ii) Complete the correlation : Discriminated prices : ______ : : Single price : Perfect competition

Q.1 (B) (iii) Complete the correlation : ______ : Central Bank : : SBI : Commercial Bank

Q.1 (B) (iv) Complete the correlation : Output method : ______ : : Income method : Factor cost method

Q.1 (B) (v) Complete the correlation : The period of Inflation : Surplus Budget : : The Period of Depression : ______

Q.1 (C) (i) Find the odd word : Durable Goods : Furniture, Cupboard, Washing Machine, Fish.

Q.1 (C) (ii) Find the odd word : Cost Concepts : Total cost, Average cost, Marginal cost, Selling cost.

Q.1 (C) (iii) Find the odd word : Legal Monopoly : Patent, OPEC, Copyright, Trademark.

Q.1 (C) (iv) Find the odd word : Theory of Economic Welfare : Theory of Income and Employment, Efficiency in production, Efficiency in Consumption, Overall Economic Efficiency.

Q.1 (C) (v) Find the odd word : Exceptions to the Law of Demand : Giffen’s paradox, Prestige goods, Price illusion, Supply of labour.

Q.1 (D) (i) Complete the following statement : The terms of Micro Economics and Macro Economics were coined by Norwegian Economist ______.

Q.1 (D) (ii) Complete the following statement : When the supply curve is sloping upward, then its slope is ______.

Q.1 (D) (iii) Complete the following statement : The Price Index number is used ______.

Q.1 (D) (iv) Complete the following statement : Development financial institutions were established to ______.

Q.1 (D) (v) Complete the following statement : Obligatory functions of the govt. is ______.

Q.2 (A) (i) Identify and explain the concept : Abhijeet sold 15 chairs for ₹ 3000, for each chair he earned ₹ 200.

Q.2 (A) (ii) Identify and explain the concept : Rajaram produced 25 quintals of wheat in his field, from it he kept aside 2 quintals of wheat for his own family use.

Q.2 (A) (iii) Identify and explain the concept : Rani collected the data of India’s National Income for the purpose of study.

Q.2 (A) (iv) Identify and explain the concept : Amar demanded milk, sugar and tea powder jointly to satisfy his want of the tea.

Q.2 (A) (v) Identify and explain the concept : Sunita madam satisfied her want to write on the blackboard by using a chalk.

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

Q.2 (B) (ii) Distinguish between Perfectly elastic demand and Perfectly inelastic demand.

Q.2 (B) (iii) Distinguish between Quantity index number and Value index number.

Q.2 (B) (iv) Distinguish between Internal debt and External debt.

Q.2 (B) (v) Distinguish between Expansion of supply and Increase in supply.

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

Q.3 (ii) Explain the functions of Commercial Banks.

Q.3 (iii) Explain the classification of market on the basis of time.

Q.3 (iv) Calculate price index number from the following data:

Q.3 (v) Explain any four points of the role of foreign trade in India.

Q.4 (i) State with reasons whether you agree or disagree with the statement : Demand Curve slopes downward from the left to the right.

Q.4 (ii) State with reasons whether you agree or disagree with the statement : There are no limitations to the Index numbers.

Q.4 (iii) State with reasons whether you agree or disagree with the statement : Elasticity of demand depends upon several factors.

Q.4 (iv) State with reasons whether you agree or disagree with the statement : There are some exceptions to the law of supply.

Q.4 (v) State with reasons whether you agree or disagree with the statement : Capital market plays very important role in Indian economy.

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

Questions :
(a) Complete market demand schedule. (2)
(b) Draw market demand curve based on above market demand schedule. (2)

Q.5 (ii) Observe the following diagram of non-linear demand curve and answer the questions given below.

[Figure: Price of commodity on the Y-axis and demand of commodity on the X-axis. A non-linear (convex) demand curve dd₁ touches a straight line AB at point E; A is on the Y-axis and B on the X-axis. From E, a dashed line meets the Y-axis at P and another dashed line meets the X-axis at Q.]

(1) If EB = EA (Ed = 1) = ........ (1)
(2) If EB > EA (Ed > 1) = ........ (1)
(3) If EB < EA (Ed < 1) = ........ (1)
(4) The ‘x’ axis represents ........ of commodity and ‘y’ axis represents ........ of commodity. (1)

Q.5 (iii) Regulated Market :

Regulated market is wholesale market where buying and selling are regulated and controlled by the state government through the market committee.

Regulated market aims at the elimination of unhealthy and unscrupulous practices regarding charges and providing facilities to producers and sellers in the market. The poor standards of primary and secondary markets in agricultural market are cash transactions, short weights, excessive market charges, unauthorized deduction, and the absence of machinery to settle disputes between sellers and buyers. These defects and malpractices can be recovered by the establishment of Regulated market. According to the Bombay Agricultural Product Market Act-1939, this market is controlled. In this market mainly the trade of cereals, fruits, tobacco, cotton, groundnut, coconut, betel nut, potatoes and turmeric, etc. are controlled.

Questions :
(1) Which act regulates the market? (1)
(2) What are the poor standards in primary and secondary markets? (1)
(3) Give your opinion with reference to above passage. (2)

Q.6 (i) State and explain the law of diminishing marginal utility with its assumptions.

Q.6 (ii) State the meaning of National Income and explain the features of National Income.

Q.6 (iii) Explain various reasons for the growth of government’s public expenditure.