ECONOMICS PAPER NO. 3 IMPORTANT FOR BOARD EXAM

Q.1 (A) FILLS IN THE BLANKS                                                                                                                                                                                                                                  5 MARKS

1. Facility of E-banking is provided through________. (telephone, debit cards, credit cards, internet)
2. __________ is a father of Economics. (Alfred Marshall, J.M. Keynes, Robin, Adam Smith)
3. Macro economic analysis adopts _____________ method. (lumping, aggregative, slicing, inclusive)
4. __________ is an example of direct tax. (Excise duty, Wealth tax, Sales tax, Gifts)
5. The term budget is derived from __________ word Bougette (Latin, French, German, Greek)

 (B) MATCH THE PAIRS                                                                                                                                                                                                                                 5 MARKS

GROUP A	GROUP B
R.B.I Moral Suasion Bank rate Open market Operation D-mat account	1.      Quantitative measures of credit control. 2.      Apex banking institution. 3.      Deliberate buying and selling of government securities. 4.      Selective method of credit control 5.      Central Bank of India 6.      S.L.R Statutory Liquidity Ratio) 7.      useful for share trading

              

(C) SAY WHETHER THE FOLLOWING STATEMENTS ARE TRUE OR FALSE                                                                                 6 MARKS

1. Demand for labour is direct demand.
2. Total outlay is price multiplied by quantity.
3. Utility is the basis of demand.
4. Micro economics deals with allocation of resources
5. A cheque is a fiat money.
6. Consumption expenditure is the only component of aggregate demand.

Q.2 (A) DEFINE / EXPLAIN (ANY THREE)                                                                                                                                                                                               6 MARKS

1. Natural Factors.
2. Entrepreneur.
3. Physical Capital
4. Output.
5. Income Elasticity
6. Percentage method

(B) GIVE REASONS (ANY THREE)                                                                                                                                                                                              6 MARKS

1. Single price prevails in perfect competition.
2. Labour cannot be stored.
3. Macro economics is different from micro economics.
4. Old age pension is transfer income
5. Under monopoly seller is a price maker.
6. Money act as a medium of exchange

Q.3 (A) DISTINGUISH BETWEEN (ANY THREE)                                                                                                                                                                                   6 MARKS

1. Less elastic V/S More Elastic.
2. Variation in demand V/S Changes in demand.
3. Bank rate V/S Open market operation.
4. Demand V/S Supply
5. Natural Monopoly V/S Social Monopoly.
6. Fixed Capital V/S Variable Capital.

(B) ANSWER THE FOLLOWING (ANY TWO)                                                                                                                                                                                  6 MARKS

1. Features of Capital.
2. Types of Investment.
3. Consumption Function.
4. Methods of measuring National Income.

Q.4 SHORT NOTES (ANY THREE)                                                                                                                                                                                                                             12 MARKS

1. Objectives of Budget.
2. Factor determinants of saving Function.
3. Types of Capital
4. Relationship between Total Utility and Marginal Utility.
5. Components of Government Budget. (V.Imp)

Q.5 DO YOU AGREE OR NOT (ANY THREE)                                                                                                                                                                                           12 MARKS

1. There is no factor determining Consumption Function. (V.Imp)
2. Price is the only determinants of Individual Demand.
3. Demand curve slopes downward from left to right.
4. There is no Assumption in Law of Diminishing Marginal Utility.
5. Seller is a price maker under perfect competition.

Q.6 ANSWER IN DETAIL (ANY TWO)                                                                                                                                                                                                         12 MARKS

1. Explain the Law of Diminishing Marginal Utility? And it's Exception?
2. Quantitative and Qualitative Credit Control method of Central Bank?