100+ Free UPMSP Intermediate Economics — Code 136 Practice Questions

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Key Facts: UPMSP Intermediate Economics — Code 136 Exam

Code 136

Official UPMSP Subject Code for Class 12 Economics

UPMSP Intermediate Syllabus

100 Marks

Total Weightage of UPMSP Written Theory Paper

UPMSP Board Guidelines

3h 15m

Duration of Board Examination

UPMSP Examination Schedule

100

Curated practice questions in this OpenExamPrep study set

OpenExamPrep

33%

Minimum passing score required by UP Board

UPMSP Passing Standards

Master UPMSP Class 12 Economics (Code 136) with 100 practice questions covering Microeconomics, Macroeconomics, Money & Banking, BOP, Foreign Exchange, numerical calculations (elasticity, national income, multiplier), and Indian Economic Development.

Sample UPMSP Intermediate Economics — Code 136 Practice Questions

Try these sample questions to test your UPMSP Intermediate Economics — Code 136 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which central problem of an economy is primarily concerned with deciding the technique of production (labor-intensive versus capital-intensive)?

A.How to produce

B.What to produce

C.For whom to produce

D.When to produce

Explanation: 'How to produce' is the central economic problem dealing with the choice of technique of production, specifically choosing between labor-intensive and capital-intensive methods to minimize cost and maximize efficiency.

2According to Gossen's First Law (Law of Diminishing Marginal Utility), what is the condition for a consumer's equilibrium when consuming two commodities X and Y with prices Px and Py?

A.MUx * Px = MUy * Py

B.MUx / Px = MUy / Py

C.MUx + MUy = Px + Py

D.MUx / Py = MUy / Px

Explanation: Consumer equilibrium in a two-commodity case requires that the ratio of marginal utility of a good to its price is equal across all goods, i.e., MUx / Px = MUy / Py = MUM (marginal utility of money).

3A consumer is in equilibrium consuming goods X and Y. The price of X (Px) is ₹10 and price of Y (Py) is ₹5. If the marginal utility of Y (MUy) is 20 utils, what must be the marginal utility of X (MUx)?

A.20 utils

B.30 utils

C.40 utils

D.50 utils

Explanation: Using the equilibrium condition MUx / Px = MUy / Py, we substitute the known values: MUx / 10 = 20 / 5. Since 20 / 5 = 4, MUx = 4 * 10 = 40 utils.

4Indifference curves are strictly convex to the origin due to which underlying economic principle?

A.Increasing Marginal Rate of Substitution

B.Constant Marginal Rate of Substitution

C.Zero Marginal Rate of Substitution

D.Diminishing Marginal Rate of Substitution

Explanation: Indifference curves are convex to the origin because of the Diminishing Marginal Rate of Substitution (MRS), meaning a consumer is willing to give up fewer units of one good for each additional unit of another good.

5What is the slope of the Budget Line in indifference curve analysis representing goods X and Y?

A.- Px / Py

B.- Py / Px

C.- MUx / MUy

D.- ΔX / ΔY

Explanation: The slope of the budget line is given by - Px / Py, which reflects the rate at which the market allows the consumer to substitute good X for good Y at prevailing prices.

6When the price of a commodity falls from ₹20 to ₹16 per unit, its quantity demanded increases from 100 units to 140 units. Calculate the price elasticity of demand (Ed).

A.1.0

B.2.0

C.0.5

D.1.5

Explanation: Percentage change in price = (16 - 20) / 20 * 100 = -20%. Percentage change in quantity = (140 - 100) / 100 * 100 = +40%. Price Elasticity of Demand Ed = % change in Q / % change in P = 40% / 20% = 2.0.

7A movement along the same demand curve (extension or contraction of demand) is caused by a change in which factor?

A.Consumer income

B.Prices of substitute goods

C.Own price of the commodity

D.Consumer tastes and preferences

Explanation: A change in the own price of the commodity causes a movement along the same demand curve (extension when price falls, contraction when price rises). Changes in income, substitute prices, or tastes cause a shift of the demand curve.

8Tea and Coffee are classic examples of which type of related goods in microeconomics?

A.Complementary goods

B.Inferior goods

C.Giffen goods

D.Substitute goods

Explanation: Tea and Coffee are substitute goods because they satisfy the same want; an increase in the price of tea causes consumers to switch to coffee, increasing the demand for coffee.

9Using the Total Expenditure Method, if the price of a commodity increases from ₹10 to ₹12 per unit and the consumer's total expenditure on it remains unchanged at ₹120, what is the price elasticity of demand?

A.Unitary elastic (Ed = 1)

B.Highly elastic (Ed > 1)

C.Inelastic (Ed < 1)

D.Perfectly inelastic (Ed = 0)

Explanation: Under Marshall's Total Expenditure Method, when a change in price leaves total expenditure completely unchanged, price elasticity of demand is equal to unity (Ed = 1).

10The Law of Variable Proportions operates under which time horizon and input conditions?

A.Long run when all inputs are variable

B.Short run when one input is variable and other inputs are fixed

C.Very long run with technological progress

D.Short run when all inputs are fixed

Explanation: The Law of Variable Proportions applies to the short run production function where one factor of production (like labor) is variable while all other factor inputs (like land and capital) remain fixed.

About the UPMSP Intermediate Economics — Code 136 Exam

The Uttar Pradesh UPMSP Intermediate (Class 12) Economics (Code 136) examination assesses student knowledge across Introductory Microeconomics (consumer behavior, elasticity, production, market equilibrium), Introductory Macroeconomics (national income accounting, Keynesian multiplier, demand management), Money & Banking (RBI monetary controls, commercial bank credit creation), Public Finance & Government Budget, Balance of Payments, Foreign Exchange Markets, and Indian Economic Development (1947 to post-1991 LPG reforms and contemporary challenges). This practice set provides a comprehensive 100-question English-language MCQ study adaptation aligned with the NCERT-aligned UPMSP syllabus.

Assessment

100 multiple-choice practice questions structured as an English-language study adaptation for UPMSP Class 12 Intermediate Economics (Code 136). The official UPMSP board examination is a single 100-mark written paper featuring Section A (Multiple Choice Questions), Section B (Very Short Answer Questions), Section C (Short Answer Numerical & Conceptual Questions), and Section D (Long Essays & Case Analytical Questions).

Time Limit

3 hours 15 minutes (195 minutes)

Passing Score

33% aggregate marks

Exam Fee

₹600.75 for institutional (regular) Intermediate candidates and ₹806 for private candidates for the 2026 examination, plus ₹206 per additional subject. UPMSP charges one registration fee per candidate, not per subject paper. (Uttar Pradesh Madhyamik Shiksha Parishad (UPMSP))

UPMSP Intermediate Economics — Code 136 Exam Content Outline

25%

Introductory Microeconomics

Consumer Equilibrium, Demand & Price Elasticity of Demand, Production Function, Cost and Revenue Concepts, and Forms of Market (Perfect Competition, Monopoly, Monopolistic Competition, Oligopoly).

25%

Introductory Macroeconomics

Circular Flow of Income, National Income Aggregates (GDP, NDP, GNP, NNP at MP & FC), Keynesian Aggregate Demand and Supply, Short-Run Equilibrium Output, and Investment Multiplier.

20%

Money, Banking & Public Finance

Functions of Money, Commercial Banks & Credit Creation, Reserve Bank of India (RBI) & Monetary Policy Tools (Repo Rate, CRR, SLR), Government Budget Structure, and Measures of Deficit.

15%

Balance of Payments & Foreign Exchange Rate

Current Account, Capital Account, Balance of Trade, Autonomous and Accommodating Transactions, Foreign Exchange Rate Determination (Fixed, Flexible, Managed Floating).

15%

Indian Economic Development

Indian Economy on the Eve of Independence, Five-Year Plans (1950-1990), Economic Reforms of 1991 (LPG Policies), Poverty, Human Capital Formation, Rural Development, Employment, Environment, and Comparative Development of India, China & Pakistan.

How to Pass the UPMSP Intermediate Economics — Code 136 Exam

What You Need to Know

Passing score: 33% aggregate marks
Assessment: 100 multiple-choice practice questions structured as an English-language study adaptation for UPMSP Class 12 Intermediate Economics (Code 136). The official UPMSP board examination is a single 100-mark written paper featuring Section A (Multiple Choice Questions), Section B (Very Short Answer Questions), Section C (Short Answer Numerical & Conceptual Questions), and Section D (Long Essays & Case Analytical Questions).
Time limit: 3 hours 15 minutes (195 minutes)
Exam fee: ₹600.75 for institutional (regular) Intermediate candidates and ₹806 for private candidates for the 2026 examination, plus ₹206 per additional subject. UPMSP charges one registration fee per candidate, not per subject paper.

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

UPMSP Intermediate Economics — Code 136 Study Tips from Top Performers

1Master numerical formulas for Price Elasticity of Demand (Ed = %ΔQ / %ΔP), Investment Multiplier (K = 1 / (1 - MPC) = 1 / MPS = ΔY / ΔI), and National Income aggregates (NNP at FC = GDP at MP - Depreciation + NFIA - Net Indirect Taxes).

2Understand the key differences between Microeconomics (individual markets, individual decision-makers) and Macroeconomics (aggregate economy, inflation, national income).

3Study RBI's quantitative monetary policy instruments (Repo Rate, Reverse Repo, CRR, SLR, Open Market Operations) and how they correct inflationary and deflationary gaps.

4Review the three main methods of measuring National Income: Value Added (Product) Method, Income Method, and Expenditure Method, including precautions for each.

5Memorize the key milestones of Indian Economic Development: Land Reforms, Green Revolution, 1991 New Economic Policy (Liberalization, Privatization, Globalization), and NITI Aayog establishment.

6Practice drawing and analyzing microeconomic and macroeconomic diagrams: Demand and Supply curves, Cost curves (AC, MC), Short-Run Aggregate Demand-Aggregate Supply equilibrium, and Foreign Exchange determination.

Frequently Asked Questions

What is UPMSP Intermediate Class 12 Economics Code 136?

It is the official Class 12 Economics board paper administered by Uttar Pradesh Madhyamik Shiksha Parishad (UPMSP) for Commerce and Arts stream students, aligned with NCERT curriculum guidelines.

Does the UPMSP Class 12 Economics exam include numerical calculations?

Yes. The UPMSP Economics paper regularly includes numerical problems on Price Elasticity of Demand/Supply, National Income aggregates (GDP, NNP at FC), Marginal Propensity to Consume (MPC), and Investment Multiplier.

What is the weightage of Indian Economic Development in the UPMSP exam?

Indian Economic Development accounts for roughly 40-50% of the overall theory syllabus in Class 12 UPMSP Economics alongside Introductory Microeconomics and Macroeconomics.

Is this practice set an English-language adaptation for UPMSP Code 136?

Yes. While UPMSP exams are conducted in Hindi and English, this 100-question practice set offers an English-medium study adaptation to help students practice key concepts, definitions, and numerical calculations.

What is the passing score for UPMSP Intermediate Economics?

Candidates must achieve at least 33% aggregate marks out of 100 in the UPMSP written examination to pass the subject.

100+ Free UPMSP Intermediate Economics — Code 136 Practice Questions

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