“Achieve Success through”
Omtex Classes
one “THE Home of Text”
TIME: - 3 hours MARKS: - 100 Q.1 (A) Complete the sentences by choosing correct alternative given below. 1. Micro and macro approaches are _________________________ to each other. (Competitive, complementary, complementary, substitute, rival) 2. __________is the desire backed up by ability to pay and willingness to pay for it. (Demand, Want, Commodity, Utility) 3. The income of government through all sources called ____________ (Public debt, Public expenditure, Public revenue, public taxation) 4. Individual supply is a ___________________ economic variable. (Macro, Producer, Micro, Firm) 5.
Macro Economist was well explained by economist. (Marshall, Robbins, Adam Smith, J.M. Keynes)
(B) State whether the following statements are true or false . 1. Reservation price of perishable goods is generally high 2. 3. 4. 5.
Refrigerator Refrigerator in restaurant is capital goods. Macro economics studies the economy in its totality. Paper money economises on the use of precious metals. Free entry is an essential but not a sufficient condition of perfect competition.
(C) Choose the correct answer in each from the following four alternatives 1. ‘Principles of Economics’ is the celebrated book of:_____________ (Dr. Alfred Marshall, J.M. Keynes, Lionel Robbins, Adam Smith) 2.
Electricity has a composite demand:_______________ 1.
It is less expensive resources
2.
It is demanded for several uses It is available at all time It is used in combination with other resources
3. 4. 3.
Monopolist is a Price-maker and not a price taker.____________ 1. 2. 3. 4.
4.
Labour cannot be stored: 1. 2. 3. 4.
5.
Monopolist is intelligent in price-making Demand for his commodity is very high He is the seller in the market and has no close substitute for his product, There is free entry and exit of firms in the market.)
Labourer has less physical strength Labourer lacks mobility Labour is the most perishable factors of production. Labour is the most inactive factors of production
Monopoly of Note-issue of the Central Bank i s its: 1. 2. 3. 4.
Traditional function Development Function Modern Function Secondary function
(D) Match the two columns given below: below : Group A
1. 2. 3. 4. 5.
Point of Satiety General Price Level Perfect Competition Variable Cash Reserve Ratio Public expenditure greater than public revenue
Group B
1. 2. 3. 4. 5. 6.
Macro Economics Quantitative Credit Control method Deficit budget Total utility is maximum Homogenous Product Qualitative credit control method
Q. 2 (A) Define/explain the following concept. concept. (Attempt any 4) Microeconomics 1. Define Microeconomics 2.
Explain, with example, the term Utility
3.
Define Price Elasticity of Demand Define Cash Reserve Ratio Explain the concept of Gross National Product. (GNP)
4. 5. 6. 7. 8.
8 marks
Define Consumption Function State the definition of Central Bank. Explain Credit Cards
(B) Rewrite the following statements as True of Fal se. Give Reasons. Reasons. (Any 4) marks 1. 2. 3. 4. 5. 6. 7. 8.
Issuing travelers cheque is the primary function of commercial bank. Central banks controls credit creation. Money has no store value. As the income increases, Consumption also increases Functional budgeting of government is more important than balanced budgeting. Labour can be stored Today, barter system is in backward countries Demand and Desire are one and the same.
Q. 3 (A) Distinguish between (Any Four) of the following marks 1. 2. 3. 4. 5. 6. 7. 8.
2. 3. 4.
8
Direct Demand V/S Derived Demand Fixed Capital V/S Variable Capital Average Propensity to consume V/S Marginal propensity to consume Gross National product V/S Net National Product Consumption V/S Investment Fixed Deposit Account V/S Current Account Micro Economics V/S Macro Economics Monopoly V/S Monopolistic competition
(B) Give reasons or explain the following in brief . (Any 4) marks 1.
8
Why Monopolistic competition does have product differentiation? differentiation? Is demand and Desire the same thing? Explain with an example. Why is competitive firm a ‘Price-taker? Give Reason why labour can not be stored.
8
7.
Why has the Popularity of Macroeconomics increased? Why is income from illegal activities not included in the national product? Why the concept of balanced budget is called as an ‘Ideal Concept’?
8.
Why does land lacks mobility?
5. 6.
Q. 4. (A) Answer the following questions in one or two paras (any 2) marks
8
What are the factor determining aggregate Supply? 2. Explain with illustration, the Income method of Measuring National Income? 3. Describe the Various Function Of Money? 4. What are the Types of Price Elasticity of Demand ? 8 marks (B) Write Short notes on the following: following : (any two) 1.
3.
Features of Microeconomics Microeconomics Assumption to the Law of Demand Types of Monopoly
4.
Kinds of Investment
1. 2.
Q. 5 Do you agree or disagree disagree with the following statements. Give Reasons. Reasons. (Any Two) Two) marks 1.
At the point of satiety, Total utility is at its maximum
2.
Demand Curves Sloes downwards from left to Right.
3.
In open Economy AD is influenced by C+I+G+(X-M)
Q. 6 Answer the following (any two) two) 1. 2. 3.
16
16 marks
Define and Explain the Function of Central Bank? Explain the Features of Monopolistic Competition? Explain the Law of D.M.U? And it’s Assumption?
“Achieve Success through” Omtex Classes
TWO “THE Home of Text”
TIME: - 3 MARKS: - 100 Q.1 (A) Complete the sentences by choosing correct alternative given below. 1. The income of government through all sources is called public _________ (money, income, debt, revenue). The relation between the price and demand is _________ (direct, inverse, negative, indirect) 2. 3. 4. 5.
Real investment implies creation of new ___________ (goods, services, assets, capital) A cheque which bears a future date is called a __________ cheque (crossed, pre-dated, post-dated, stale) Value expressed in terms of money is called ____________ (utility, credit, price, demand)
(B) State whether the following statements are true or false . 1. 2. 3. 4. 5.
The value of mother’s service is not included in National Income. Wine is not a wealth. Supply curve is upward sloping from left to the right. Current deposits yield high interest rate. The Primary function of the money is to form the basis for credit.
(C) Choose the correct answer in each from the following four alternatives
National income refers to the value of goods and services produced in a __________
1. 1.
day
2.
week
3.
month
4.
year
2.
ATM facility is available for __________ 1. 6 hours 2. 12 hours 3. 18 hours 4. 24 hours
3.
During depression, the Central Bank adopts the _____________ 1. near money policy
4.
5.
2.
dear money policy
3.
Cheap money policy.
4.
No money policy
As the stock of commodities rises, the marginal utility starts ____________ 1. f alling alling 2.
rising
3.
increasing
4.
shifting
Which of the following is not the exception to the law of demand___________ 1. Medicines 2. Salt
Prestige goods Normal goods 4. (D) Match the two columns given below: below : 3.
Group A
Group B 1.
4.
Sunshine Very short period National Income Factors of production
5.
Perfect competition
5.
1. 2. 3.
Uniform price Free goods Derived demand Country’s Income
2. 3. 4. 6.
Market price Normal Price
Q. 2 (A) Define and explain the following concept. concept. (Attempt any 4)
8 marks
1. 2. 3. 4. 5. 6. 7. 8.
Direct Tax Partial Equilibrium Slicing method Complimentary Complimentary or Joint Demand Gross Domestic Product Open market operation Personal Disposable Income. Inflation.
(B) Rewrite the following statements as True of Fal se. Give Reasons. Reasons. (Any 4) 8 marks 1.
Values of only final goods and services are included in measuring GNP.
2.
7.
Labours is perishable in nature. There is no real exception to the law of diminishing marginal utility. The Seller is the price maker under perfect competition. Price and Supply plays an inverse relationship. There is no exception to the Law of Supply. Medicines have elastic demand.
8.
The capital is the most mobile factor of production.
3. 4. 5. 6.
Q. 3 (A) Distinguish between (Any Four) of the following 8 marks 1. 2. 3. 4.
Stock V/S Supply Commercial Bank V/S Central Bank Increase in Demand V/S Decrease in Demand Perfect Competition V/S Monopoly
7.
Saving V/S Consumption Autonomous Investment V/S Induced Investment Total Utility V/S Marginal Utility
8.
Bank Rate V/S Open market Operation
5. 6.
(B) Give reasons or explain the following in brief . (Any 4) 8 marks 1. 2. 3. 4. 5. 6. 7. 8.
The Reserve Bank is Government’s Bank The Demand for coffee and tea is competitive in nature. Why has water less price, though of much use? An Entrepreneur is called as a captain of the industry. Stock of Perishable commodities tends to be zero? Why does microeconomics use slicing method? The Supply of land can not be changed? Why study of macroeconomics is important and extremely useful?
Q. 4. (A) Answer the following questions in one or two paras (any 2) 8 marks 1. 2.
What are the determinants’ of Aggregate demand? Explain in brief the types of Capital
Explain the Exception to the Law of Demand? What are the Different Types of Utility ? 4. 8 marks (B) Write Short notes on the following: following : (any 2) 3.
Function of Money Features of National Income Bank Rate Policy Features of Labour
1. 2. 3. 4.
Q. 5 (A) Do you agree or disagree with the following statements. Give Reasons. (Any Two) Two) 16 marks
Accepting Deposit is the only primary function of commercial bank..
1. 2. 3.
Income Elasticity of demand for salt is zero At the point of satiety, Total utility is at its Minimum
Q. 6 (B) Answer the following (any two) two) 16 marks 1.
Define and Explain the Features of monopoly?
2.
Features of Perfect Competition? What are the different methods of measuring national income?
3.
ALL THE VERY BEST
“You don’t know what you can do until you try”
“Achieve Success through”
Omtex Classes
THREE “THE Home of Text”
TIME: - 3 hours
PRELIMINARY EXAMINATION BISMILLAH MARKS: - 100
3.00pm to 6.00pm
Avoid Cancelation, Diagram is Necessary, Try to attend all questions,
Q.1 (A) Complete the sentences by choosing correct alternative given below. 5 marks
BISMILLAH
BISMILLAH
1. Converting log of wood into a table is addition of ___________ (Place Utility, Time Utility, Form Utility , Personal Utility) 2. Supply curve has _________ slope. (Positive, Negative, Horizontal, Vertical) Vertical) 3. Supply is a _________ of stock. (Part, Total, Maximum, Minimum) Minimum) Receiving deposits and advancing loans is a ___________ function of any commercial bank. (Primary, 4. Secondary, Current, Total) 5. The income of government through all sources called ____________________ (Public debt, Public expenditure, Public revenue, public taxation) (B) State whether the following statements are true or false . 5 marks 1. 2. 3. 4. 5.
BISMILLAH
Refrigerator Refrigerator in restaurant is capital goods. Government budget gives us the complete financial information of the country Reservation price of perishable goods is generally high Price is the only factor that determines demand for a commodity. Free entry is an essential but not a sufficient condition of perfect competition.
(C) Choose the correct answer in each from the following four alternatives BISMILLAH 1.
in case of perfectly elastic demand, the demand curve is __________ 1. Parallel to Y axis 2. Parallel to X axis 3. 4.
2.
3.
Central Bank is __________ 1. Bankers bank 2. 3.
Provides lockers facility Commercial Commercial bank
4.
Provides Overdrafts facility
During depression, the Central Bank adopts the _____________ 1. near money policy 2. dear money policy 3. Cheap money policy. 4.
4
Downward sloping Upward Sloping
No money policy
National Income data is not completely reliable _____________ 1. Due to statistical and conceptual difficulties Due to illiteracy in the country 2. 3. 4.
N.I data is too large. It takes a long time in its calculation
5. Monopoly of Note-issue of the Central Bank is its: 1. Traditional function 3.
Development Function Modern Function
4.
Secondary function
2.
(D) Match the two columns given below: below : BISMILLAH 5marks
5marks
Group A 1. 2. 3. 4. 5.
Micro economics Electricity Surplus budget Marginal utility Moral Suasion
Group B
Composite Demand 2. Revenue more than expenditure Selective method of credit control 3. 4. Study of one millionth part of the country 5. Joint demand 6. Additional utility 1.
Q. 2 (A) Define and explain the following concept. concept. (Attempt any 4) 8 marks 1.
Land
2.
Monopolistic competition Cross elasticity of demand Aggregate Supply Autonomous Investment
3. 4. 5. 6. 7. 8.
BISMILLAH
Marginal propensity to consume Credit Card Open Market Operation
(B) Rewrite the following statements as True of Fal se. Give Reasons. Reasons. (Any 4) 8 marks 1. 2. 3. 4. 5. 6. 7. 8.
The concept of price-elasticity price-elasticity is of great practical importance Selling cost is an important component in Perfect competition. Macroeconomics helps in understanding economic problem of a State. At the point of satiety, marginal utility is zero. Price and supply has inverse relationship. Microeconomics helps to understanding of economic problem o a nation. Investment in demand is the sole determinants of aggregate demand. Whenever income increases, saving also increases.
Q. 3 (A) Distinguish between (Any Four) of the following 8 marks 1. 2.
BISMILLAH
APC V/S MPC Central bank V/S Commercial Bank
7.
Capital V/S Wealth Gross National product V/S Net National Product Perfect competition V/S Pure Competition Saving Account V/S Current Account Joint Demand V/S Composite Demand
8.
Income Elasticity of demand V/S Cross Elasticity of demand
3. 4. 5. 6.
BISMILLAH
(B) Give reasons or explain the following in brief . (Any 4) 8 marks
BISMILLAH
2.
Goods with close substitute have an elastic demand explain this statements Why stock and supply of perishable commodities is are equal?
3.
What are the causes for the changes in the demand
1.
Why are the transfer payment not included in the national income Why do commercial bank have greater importance in development of a country Explain the reasons for the evolution of money?
4. 5. 6.
Why the concept of balanced budget is called as an ‘Ideal Concept’? Why popularity of the macro economics increased?
7. 8.
Q. 4. (A) Answer the following questions in one or two paras (any 2) 8 marks
BISMILLAH
Explain the functions of the Entrepreneur. Explain with illustration, the Income method of Measuring National Income? Describe the Various Function Of Money?
1. 2. 3.
Primary function of commercial bank? 8 marks (B) Write Short notes on the following: following : (any two) BISMILLAH 4.
What are the factors determining Aggregate demand Exception to the Law of Supply
1. 2.
Consumption Function Kinds of Utility
3. 4.
Q. 5 Do you agree or disagree with the following statements. Give Reasons. (Any Two) 16 marks 1.
BISMILLAH
At the point of satiety, Total utility is at its maximum
Central bank is the lender of the last resort Accepting Deposit is the only primary function of commercial bank
2. 3.
Q. 6 Answer the following (any two) 16 marks
BISMILLAH
Define and Explain the Perfect Competition? Explain the Different measures of measuring National Income? Explain the law of D.M.U? And it Assumption?
1. 2. 3.
“Achieve Success through”
Omtex Classes “THE Home of Text” TIME: - 3 hours
PRELIMINARY EXAMINATION BISMILLAH MARKS: - 100
3.00pm to 6.00pm
Avoid Cancelation, Diagram is Necessary, Try to attend all questions, Q.1 (A) Complete the sentences by choosing correct alternative given below. 5marks (Min 1
) SIDE OF THE PAGE IS NEEDED
1.
Central banks Central banks lends loans to ___________ (businessmen, farmers, consumers, commercial banks)
2.
Stock refers to the ____________ (real concept, static concept, flow concept, none of these)
3.
The law of demand is not applicable for ___________. (music, reading, money, indivisible goods)
BISMILLAH
BISMILLAH
4.
Electricity has ____________ (competitive demand, composite demand, complimentary demand, joint demand)
5.
The abnormal demand curve slopes _____________ (upward, downward, vertical, remains the same)
(B) State whether the following statements are true or false. false. (Min 1
5marks
BISMILLAH
) SIDE OF THE PAGE IS NEEDED
1.
Refrigerator in restaurant is capital goods.
2.
Government budget gives us the complete financial information of the country
3.
Reservation price of perishable goods is generally high
4.
Price is the only factor that determines demand for a commodity.
5.
Free entry is an essential but not a sufficient condition of perfect competition .
(C) Choose the correct answer in each from the following four alternatives BISMILLAH (Min 1
5marks
) SIDE OF THE PAGE IS NEEDED
1.
in case of perfectly elastic demand, the demand curve is __________
2.
1.
Parallel to Y axis
2.
Parallel to X axis
3.
Downward sloping
4.
Upward Sloping
Discriminating monopoly implies that the monopolist charges __________ 1.
Different prices
2.
Single price
3.
No price
4.
Uncertain price
During depression, the Central Bank adopts the _____________
3.
5.
near money policy
6.
dear money policy
7.
Cheap money policy.
8.
No money policy
National Income data is not completely reliable _____________
5
1.
Due to statistical and conceptual difficulties
2.
Due to illiteracy in the country
3.
N.I data is too large.
4.
It takes a long time in its calculation
5. Monopoly of Note-issue of the Central Bank is its: 1.
Traditional function
2.
Development Function
3.
Modern Function
4.
Secondary function
(D) Match the two columns given below: below: BISMILLAH (Min 1
5marks
) SIDE OF THE PAGE IS NEEDED
Group A
Group B
1.
Increase in Demand
1.
Ed = 1
2.
Unitary elastic demand
2.
Reserve Bank of India
3.
Aggregate Supply
3.
Fall in consumption
4.
Heavy loss
4.
Bank of India
Banker’s Bank
5.
Q. 2 (A) Define and explain the following concept. concept.
5.
Rise in Income
6.
Natural resources
7.
Central Bank of India
8.
Saving
(Attempt any 4)
BISMILLAH
8 marks
(Separate page for separate answer) 1.
GDP (4 points needed) Min 1
2.
Labour (4 points needed) Min 1
3.
Budget(4 Budget(4 points needed) Min 1
4.
Aggregate Demand (Diagram needed) Min 1
5.
Stale Cheque(4 Cheque(4 points needed) Min 1
6.
Average propensity to consume(4 consume(4 points needed) Min 1
7.
Open Market Operation (4 points needed) Min 1
SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS
8.
Fixed Capital (Diagram needed) (4 points needed) Min 1 SIDE OF THE PAGE FOR ONE QUESTONS
(B) Rewrite the following statements as True of False. Give Reasons . (Any 4)
BISMILLAH
8 marks
(Separate page for separate answer) 1.
Pen and ink have negative cross elasticity of demand (4 points needed)
2.
Autonomous consumption can be zero. (4 points needed)
3.
Utility is a subjective concept. (4 points needed)
4.
Commercial bank regulates the issue of currency. (4 points needed)
5.
Supply curve slopes upward from left to right. (4 points needed) (Diagram needed)
6.
Microeconomics helps to understanding of economic problem o a nation. (4 points needed)
7.
Sunk capital Sunk capital has several purposes (uses). (uses). (4 points needed)
8.
Whenever income increases, saving also increases. (4 points needed) (Schedule needed)
Q. 3 (A) Distinguish between (Any Four) of the following
8 marks
BISMILLAH
(Separate page for separate answer) 1.
APC V/S MPC (4 points needed)
2.
Labour V/S Capital (4 points needed)
3.
Total Utility V/S Marginal Utility (4 points needed) (Diagram needed)
4.
Gross National product V/S Net National Product(4 Product(4 points needed)
5.
Perfect competition V/S Monopoly(4 Monopoly(4 points needed)
6.
Saving Account V/S Fixed Deposit Account(4 Account(4 points needed)
7.
Extension in demand V/S Increase in Demand(4 Demand(4 points needed) (Diagram needed)
8.
Income Elasticity of demand V/S Cross Elasticity of demand (4 points needed) (Diagram needed)
(B) Give reasons or explain the following in brief . (Any 4)
BISMILLAH
8 marks
(Separate page for separate answer) 1.
A cheque is optional money. (4 points needed)
2.
Geffen’s goods are an exception to the law of demand(4 demand(4 points needed)
3.
Reading books and stamp collection is not a real exception to th e law of DMU. (4 points needed)
4.
In Deficit budget Expenditure is more than Income. (4 points needed)
5.
When Consumption is equal to income, saving is zero. (schedule is needed) (4 points needed)
6.
Reservation price is low in case of perishable commodity. (4 points needed)
7.
Value of only final goods and services are included in Calculating National Income(4 Income(4 points needed)
8.
Why popularity of the macro economics increased? (4 points needed)
5 FULL PAGES MUST BE COMPLETED UPTO HERE . BISMILLAH
Q. 4. (A) Answer the following questions in one or two paras ( any 2)
BISMILLAH
8 marks
(Separate page for separate answer) 1.
Explain the functions of the Entrepreneur .(Meaning, .(Meaning, Definition and 6 points)
2.
Explain The Exception to the Law of Demand? (Meaning, Definition and 6 points)
3.
Explain the Backward Bending Labour Curve? (Meaning, Definition and 6 points) (Diagram needed)
4.
Explain the Features of Land? (Meaning, Definition and 6 points)
8 marks (B) Write Short notes on the following : (any two) BISMILLAH (Separate page for separate answer) 1.
Secondary function of commercial bank (Meaning, bank (Meaning, Definition and 6 points)
2.
Product method of measuring National Income (Meaning, Definition and 6 points)
3.
Consumption Function (Meaning, Definition and 6 points) (Diagram needed)
4.
Types of Cheque (Meaning, Definition and 6 points)
Q. 5 Do you agree or disagree with the following statements. Give Reasons. (Any Two )
16 marks
BISMILLAH
(Separate page for separate answer) 1. 2. 3.
In a closed economy AD = C+I+G (X-M) (Reason + 7 or 8 points Min 1 1/2
) PAGE
There are no difficulties involved in the measurement of National Income? (Reason + 7 or 8 points Min 1 1/2 Accepting Deposit is not only the primary function of commercial bank (Reason bank (Reason + 7 or 8 points Min 1 1/2
Q. 6 Answer the following (any two )
Min 21/2
SIDE OF THE PAGE FOR ONE QUESTONS
) PAGE
) PAGE
16 marks
BISMILLAH
(Separate page for separate answer) 1.
Define and Explain the Functions of Central Bank? (Meaning, Definition and 8 points)
2.
Explain the Different measures of measuring National Income? (Meaning, Definition and 8 points)
3.
Explain the law of Diminishing Marginal Utility? And it’s Assumption? (Meaning, Definition and 8 points) (Diagram needed) Minimum 38 side of the page must be completed
“Achieve Success through”
Omtex Classes “THE Home of Text”
TIME: - 3 hours
PRELIMINARY EXAMINATION
MARKS: - 100
BISMILLAH
3.00pm to 6.00pm
Avoid Cancelation, Diagram is Necessary, Keep this paper safely with you Try to attend all questions,
Q.1 (A) Complete the sentences by choosing correct alternative given below. BISMILLAH (Min 1
BISMILLAH
5marks
) SIDE OF THE PAGE IS NEEDED
1.
Human want-satisfying power of a commodity is called ___________ called ___________ (Utility, Usefulness, Productivity, Unproductively)
2.
Demand of several consumers is called __________demand. (Individual, Joint, Market, Independent)
3.
Perfectly elastic demand curve is_______ (parallel to X-axis, parallel to Y-axis, going upward, going downward)
4.
Monopolist means a _______ (Single seller, several sellers, single buyer, several buyers)
5.
The normal demand curve slopes _____________ (upward, downward, vertical, remains the same)
(B) State whether the following statements are true or false. false. (Min 1
BISMILLAH
) SIDE OF THE PAGE IS NEEDED
1.
Price theory is the base of micro economic analysis
2.
Demand for electricity means composite demand.
3.
All Capital is wealth but all want is not capital.
4.
Standard money means its face value is equal to its intrinsic or metallic value.
5.
Central banks create credit money.
5marks
(C) Choose the correct answer in each from the following four alternatives BISMILLAH (Min 1
5marks
) SIDE OF THE PAGE IS NEEDED
1.
2.
3.
4
in case of perfectly elastic demand, the demand curve is __________ 1.
Parallel to Y axis
2.
Parallel to X axis
3.
Downward sloping
4.
Upward Sloping
Due to decrease in aggregate demand in the economy __________ 1.
Employment increases
2.
Employment decreases
3.
Production increases
4.
Inflation increases
During depression, the Central Bank adopts the _____________ 1.
near money policy
2.
dear money policy
3.
Cheap money policy.
4.
No money policy
National Income data is not completely reliable _____________ 1.
Due to statistical and conceptual difficulties
2.
Due to illiteracy in the country
3.
N.I data is too large.
4.
It takes a long time in its calculation
5. The account in which a certain amount of money is deposited every month regularly for a fixed duration is ___________ 1.
Saving account
2.
Current account
3.
Recurring deposit account
4.
Fixed deposit account
(D) Match the two columns given below: BISMILLAH (Min 1
5marks
) SIDE OF THE PAGE IS NEEDED
Group A
Group B
1.
Equi-marginal utility
1.
Motive of foresight
2.
Cross elasticity
2.
Credit money
3.
Less consumption expenditure
3.
Ricardo
4.
Bills of exchange
4.
Maximum satisfaction from limited income
5.
Statement of income and expenditure
5.
Change in the price of substitute goods and complementary goods
6.
Budget
7.
Cash money
Q. 2 (A) Define and explain the following concept. concept.
BISMILLAH
(Attempt any 4)
8 marks
(Separate page for separate answer) 1.
Perfectly inelastic demand (Diagram needed) (4 points needed) Min 1
2.
Price discrimination (4 points needed) Min 1
3.
Macro Economics(4 Economics(4 points needed) Min 1
4.
Government Expenditure Min 1
5.
Marginal propensity to save(4 save(4 points needed) Min 1
SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS
SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS
6.
Travelers Cheque(4 Cheque(4 points needed) Min 1
7.
Surplus Budget (4 points needed) Min 1
SIDE OF THE PAGE FOR ONE QUESTONS SIDE OF THE PAGE FOR ONE QUESTONS
8.
Fixed Capital (Diagram needed) (4 points needed) Min 1 SIDE OF THE PAGE FOR ONE QUESTONS
(B) Rewrite the following statements as True of False. Give Reasons . (Any 4)
BISMILLAH
8 marks
(Separate page for separate answer) 1.
Micro economics studies individual units of the economy (4 points needed)
2.
All desires are demand. (4 points needed)
3.
Supply of land cannot be increased. (4 points needed)
4.
Macro economics is also called micro economics. (4 points needed)
5.
Supply curve slopes upward from left to right. (4 points needed) (Diagram needed)
6.
Transfer income cannot be included in the national income. (4 points needed)
7.
Commercial banks Commercial banks cannot give interest on deposits (uses). (uses). (4 points needed)
8.
Central bank has monopoly power to issue the currency. (4 points needed)
Q. 3 (A) Distinguish between (Any Four) of the following
8 marks
BISMILLAH
(Separate page for separate answer) 1.
Utility V/S Usefulness (4 points needed)
2.
Direct demand V/S Indirect Demand (4 points needed)
3.
Total Utility V/S Marginal Utility (4 points needed) (Diagram needed)
4.
Import V/S Export (4 points needed)
5.
Perfect competition V/S Monopoly(4 Monopoly(4 points needed)
6.
Saving Account V/S Fixed Deposit Account(4 Account(4 points needed)
7.
Extension in demand V/S Increase in Demand(4 Demand(4 points needed) (Diagram needed)
8.
Income Elasticity of demand V/S Cross Elasticity of demand (4 points needed) (Diagram needed)
(B) Give reasons or explain the following in brief . (Any 4)
BISMILLAH
8 marks
(Separate page for separate answer) 1.
Government feels that micro economics is useful. (4 points needed)
2.
Demand varies inversely with price (4 points needed)
3.
The supply curve has a positive slope. (4 points needed)
4.
In Deficit budget Expenditure is more than Income. (4 points needed)
5.
When Consumption is equal to income, saving is zero. (schedule is needed) (4 points needed)
6.
Reservation price is low in case of per ishable commodity. (4 points needed)
7.
Demand for necessary goods is inelastic (4 points needed)
8.
Consumption function de pends upon distribution of National Income (4 points needed)
5 FULL PAGES MUST BE COMPLETED UPTO HERE . BISMILLAH
Q. 4. (A) Answer the following questions in one or two paras ( any 2)
BISMILLAH
(Separate page for separate answer) 1.
Explain the functions of the Entrepreneur .(Meaning, .(Meaning, Definition and 6 points)
2.
Total out put method of measuring National Income? (Meaning, Definition and 6 points)
3.
Explain the Backward Bending Labour Curve? (Meaning, Definition and 6 points) (Diagram needed)
4.
Explain the Features of Land? (Meaning, Definition and 6 points)
8 marks (B) Write Short notes on the following : (any two) BISMILLAH (Separate page for separate answer) 1.
Secondary function of commercial bank (Meaning, bank (Meaning, Definition and 6 points)
2.
Product method of measuring National Income (Meaning, Definition and 6 points)
3.
Consumption Function (Meaning, Definition and 6 points) (Diagram needed)
4.
Types of Cheque (Meaning, Definition and 6 points)
8 marks
Q. 5 Do you agree or disagree with the following statements. Give Reasons. (Any Two )
16 marks
BISMILLAH
(Separate page for separate answer) 1. 2. 3.
There are no exception to the Law of Demand (Reason + 7 or 8 points Min 1 1/2 Market supply depends upon several factors (Reason + 7 or 8 points Min 1 1/2 A seller is a price maker in the monopoly (Reason + 7 or 8 points Min 1 1/2
Q. 6 Answer the following (any two )
Min 21/2
SIDE OF THE PAGE FOR ONE QUESTONS
) PAGE
) PAGE
) PAGE
BISMILLAH
16 marks
(Separate page for separate answer) 1.
Explain the relationship between total utility and marginal utility? (Meaning, Definition and 8 points) (Diagram needed)
2.
Explain the features of macro economics (Meaning, Definition and 8 points) (Diagram needed)
3.
Explain the law of Diminishing Marginal Utility? And it’s Assumption? (Meaning, Definition and 8 points) (Diagram needed) Minimum 38 side of the page must be completed
