OMTEX
CLASSES
ECONOMICS Ist
preliminary exam….
3
hours 100
marks
Don’t
make any correction on objectives.
Write
four points for two marks answer.
Q.1
(A) Fill in the blanks with appropriate alternatives given in the brackets:
(5 marks)
1. Economics
is a ______________science. (natural, social, anthropology, political)
2. Labour
is __________ (imperishable, perishable, convertible, non-convertible)
3. There
is a lack of _________in monopoly. (Consumers, competition, sellers, people)
4. ________has
the monopoly to issue currency notes. (Commercial bank, Central bank, Central
Bank of India)
5. The
nature of the market in barter system is __________. (limited, unlimited,
personal, social)
(B) State the whether the
following statements are true or false: (5 marks)
1. Utility
is Subjective.
2. All
desires are not demand.
3. The
demand of food grains is inelastic.
4. The
relationship between price and demand is positive.
5. The
problem of Nation is studied in the Macro Economy.
(C) Choose the correct answer:
(5 marks)
1. The
capacity of a commodity to satisfy human want is known as __________. (utility,
need, satisfaction, production)
2. The
demand for salt is ___________ (inelastic, elastic, elasticity more than one,
elasticity less than one)
3. The
income which is not spent on consumption is ___________. (saving, investment,
loss, profit)
4. The
account in which the specific amount is deposited per month regularly is known
as ___________. (fixed account, current account, saving account, recurring
account)
5. The
money which is created by commercial bank is called_________money. (credit,
paper, metallic, legal tender)
(D) Match the following Group
‘A’ with Group ‘B’: (5 marks)
Group ‘A’
|
Group ‘B’
|
1.
Demand of Electricity
2.
Luxurious Commodities
3.
Income Minus Saving
4.
Central Bank of India
5.
Accepting Deposit
|
1.
Primary function of Central
bank
2.
Consumption
3.
Commercial Bank
4.
Elastic Demand
5.
Composite Demand
6.
Central Bank
7.
Investment
|
Q.2 (A) Explain the following
concepts or give definition: - (any
4) (8 Marks)
1. Micro
Economics
2. Demand
3. Perfectly
elastic Demand
4. Land
5. Depreciation
6. Monopoly
7. Capital
8. Joint
Demand
(B) State whether the following
statements are true or false give reason: - (any
4) (8 Marks)
1.
The demand for rich people is poor.
2.
There is no selling cost in Perfect Completion.
3.
The supply of land is fixed.
4.
There is no difference between micro and macro
Economics
5.
The interest is more on saving Deposit.
6.
The Scope of Macro Economics is wide.
7.
Perishable commodity has inelastic demand.
8. All capital is
wealth but all wealth is not a capital.
Q.3 (A) Distinguish Between: - (any
4) (8 Marks)
1.
Marginal Utility V/S Total Utility
2.
Saving Deposit V/S Current Deposit
3.
Perfect Competition V/S Monopolistic Competition
4.
Fixed Capital V/S Variable Capital
5.
Micro Economics V/S Macro Economics
6.
Demand V/S Supply
7.
Unitary Elastic Demand V/S Relatively Elastic Demand
8. Individual
Problem V/S National problems
(B) Give Reason or Explain:
- (any
4) (8 Marks)
1.
Government feels that micro economics is useful.
2.
Demand for Salt is inelastic.
3.
Supply cannot exceed Stock.
4.
There is direct relationship between Demand and
Price.
5.
Under Monopoly the firm is a price maker
6.
Utility cannot be measured cardinally.
7.
The demand curve slopes downward from left to right.
8. The difficulties
of barter system are removed by money.
Q.4 (A) Answer the following: - (any
2) (8 Marks)
1.
State the features of National Income
2.
Give the Types of Money.
3.
What are the Determinants of Individual Demand?
4. What is meant by
saving Function?
(B) Short Notes: - (any
2) (8 Marks)
1.
Features of Labour
2.
Types of Capital
3.
Assumption of Law of Demand.
4.
Qualitative Method of credit control by the Central
Bank.
Q.5
State with reason, whether you agree or disagree with the following
statements: - (any 2) (16 Marks)
1. Marginal
Utility and Total Utility is same. (write 8 Points) Diagram and Schedule
Needed)
2. There
is no Exception in Law of Demand. (Write 8 points)
3. Macro
Economy is deal with whole economy.
Q.6
Answer the following questions in detail: - (any
2) (16 Marks)
1. Explain
the Law of Demand? Explain its Exception?
2. What
is the Primary function of Commercial Bank?
3. Define
Monopolistic Competition? Explain its Features?