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Economics 3 Marks Question

MODEL PAPER 2025 · CBSE STD 12 Commerce (CBSE - English Medium). 3 questions.

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3 Marks Question

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Question 13 Marks
‘To measure the extent of development in an economy, liberty indicators should be considered along with other socio-economic parameters.’ Do you agree with the given statement? Give valid reasons in support of your answer.
Answer
Yes. Measurement of the development level in an economy is a comprehensive approach where liberty indicators should be considered along with other socio-economic parameters.
Liberty indicators measure the extent of democratic participation in social and political decision-making. These indicators are significant as they reflect the degree of civil liberties, political rights and economic freedom within a society. With the incorporation of liberty indicators, policymakers can gain a more holistic understanding of an economy's development status.
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Question 23 Marks
‘Globalisation is an essential outcome of liberalisation of an economy’.
Justify the given statement with a valid explanation.
Answer
Globalisation is indeed an essential outcome of liberalisation of an economy. The removal or reduction of restrictions in the industrial sector, financial sector, trade and investment policy etc. opened the doors of the Indian economy to the rest of the world.
Hence, liberalisation acted as a catalyst for globalisation. It fostered international trade integrating the Indian economy with the global economy.
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Question 33 Marks
Critically appraise the disinvestment policy initiated by the government during the reforms of 1991.
Answer
Disinvestment aimed to boost financial discipline and modernisation. The government exceeded its mobilisation target but assets of Public Sector Enterprises (PSES) had been undervalued, resulting in significant losses to the government. Moreover, the proceeds were primarily used to cover shortfalls of government revenue instead of investing in social infrastructure or the development of PSE.
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3 Marks Question - Economics STD 12 Commerce Questions - Vidyadip