CBSE Class 12 Sample Paper for 2022 Boards [Term 2] - Economics

Economics Class 12
Solutions to CBSE Sample Paper - Economics Class 12

### a) Given the following data, find Net Value Added at Factor Cost by Sambhav (a farmer) producing Wheat:

 Items (₹ in crore) i) Sale of wheat by the farmer in the local market 6800 ii) Purchase of Tractor 5000 iii) Procurement of wheat by the Government from the farmer 200 iv) Consumption of wheat by the farming family during the Year 50 v) Expenditure on the maintenance of existing capital stock 100 vi) Subsidy 20

(3 Marks)

Answer

a) Net Value Added at Factor Cost = NVAfc

NVAfc = Sale of wheat by the farmer in the local market + Procurement of wheat by the government from the farmer + Consumption of wheat by the farming family during the year + Subsidy - Expenditure on the maintenance of existing capital stock

NVAfc =(i)+(iii)+(iv)+(vi)-(v)

NVAfc=₹6800+₹200+₹50+₹20-₹100

Net Value Added at Factor Cost =₹6,970crore

### b)State any two components of ‘Net Factor Income from Abroad’.

(2 Marks)

Answer

b) Component of net factor income from abroad are-

i) Net compensation of employees

ii) Net Retained Earnings

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### Transcript

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Made by

#### Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years and a teacher from the past 17 years. He teaches Science, Economics, Accounting and English at Teachoo