ECONOMICS PAPER TWO AS PER NEW SYLLABUS MAHARASHTRA STATE BOARD

MARKS : 80      TIME : - 3 HRS.

Q.1 (A) Select the correct answer form the possible options given below and rewrite the statements:                        5 Marks

1.    An increase in income leads to __________ (Increase in Consumption and decrease in Saving, Decrease in Consumption and Increase in Saving, Increase in consumption and saving, Decrease in Consumption and saving,  
2. _______ is the lender of the last resort. (SBI, ICICI, HSBC, RBI)
3. The demand for salt is _____ (Elastic, Inelastic, Infinite elastic, Unitary elastic)
4. Reward obtained by entrepreneur is known as _________ (Rent, Wages, Interest, Profit)
5. Individual demand is the purchasing by _______ buyers. (Some, All, One, Two)

   

(B) Match the correct Pairs:                                                                                                                                                    5 Marks

Group A	Group B
1. Super Normal Profit (8) 2. Real Capital (1) 3. Plastic Money (7) 4. E- Banking (6) 5. Central Bank (3)	1.     Physical capital in Production Process 2. Flat Money 3. Clearing House 4 Monopolistic Competition 5. Telephone 6. Internet 7. Debit Cards 8. Monopoly.

(C) State whether the following statements are True or False:                                                                                       6 Marks

1.      Under perfect competition, price is determined by equilibrium of demand and supply. (True)
2. Micro economics given an overall view of the economy. (False)
3. Rent is the reward for Capital. (False)
4. Money facilitates estimation of national income. (True)
5. Credit money is created by central bank of a country. (False) 

Q.2 (A) Define or Explain the following concepts: (Attempt any Three)                                                                             6 Marks

1. JOINT DEMAND

2. EXPANSION OF DEMAND

3. TOTAL UTILITY.

4. INDIVIDUAL DEMAND 

5. PRODUCT PRICING

6. SERVICE UTILITY

       (B) Give Reasons or Explain the Statements: (Attempt any Three)   6 Marks

1.       Macro economics is also known as income and employment theory.

2.       Overdraft facility is provided to current account holders.

3.       A central bank may take 'Direct Action' against the defaulting commercial banks.

4.       In balanced budget, Government Receipts equals Government Expenditure.

5.       Monopoly is a price taker.

6.       OMO are effective in influencing the credit supply.

Q.3 (A) Distinguish Between: (Attempt any Three)   6 Marks

1.       Revenue Receipt V/S Capital Receipt.

2.       Government Income V/S Government Expenditure

3.       Saving V/S Consumption

4.       Total Utility V/S Marginal Utility

5.       Export V/S Import.

6.       Surplus Budget V/S Deficit Budget

       (B) Write Short Notes: (Attempt any Two)    6 Marks

1.       Features of Land.

2.       Factor determinants of Consumption Function.

3.       Importance of Price elasticity of Demand..

4.       Function of Entrepreneur.

Q.4 Answer the following questions: (Attempt any Three)   12 Marks

1.       What are the Qualities of Entrepreneur?

2.       What are the Exception to the Law of Demand?

3.       What are the Quantitative method of Credit Control by the Central Bank.

4.       What are the Kinds of Investment Expenditure?

5.       State the features of National Income?

6.       What are the determinants of market supply?

Q.5 Do you agree or disagree with the following statements. Give reasons (Attempt any three)                  12 Marks

1.       Price is the sole determinants of Individual demand.

2.       There are three major method of measuring National Income.

3.       There are no Assumption in Law of Supply

4.       Utility and Usefulness are one and the same concept. 

5.       There are no difficulties involved in measuring national Income.

6.       Micro economics is the study of an individual unit. 

Q.6 Answer in Detail: (Attempt Any Two)  16 Marks

1.       Explain the Types of Price Elasticity of Supply?

2.       Define Law of Supply? Explain its Exception?

3.       Features of Labour?

4.       (A) What are the Types of Demand?

      (B) Features of Capital?