Q.1.(A) Fill in the blanks with appropriate alternative given
in Brackets and rewrite the sentences :(5)
(i) The account
in which a certain amount of money is deposited every month regularly for a
fixed duration is ________ . (Savings/Current/Recurring/Fixed)
(ii) Perfectly
inelastic curve is _________ (parallel to X axis/parallel to Y axis/sloping
upwards/sloping downwards)
(iii) _________ studies
about national income. (Micro/Macro/Statistics/Mathematics)
(iv) In _________
market, the seller creates product differentiation.
(Pure/Perfect/Monopoly/Monopolistic)
(v) The _______ minister
presents the budget. (finance/home/industry/environment)
(B) State
whether the following statements are true or false : (5)
(i) Demand for
luxuries is inelastic.
(ii) Production
is the creation of value.
(iii) Transfer
incomes are included in national income.
(iv) The supply curve
of labour slopes downwards.
(v) In India,
paper money is legal tender.
(C) Choose
the correct answer and rewrite the statements : (5)
(i) In general
the duration of a budget is ________
months. (Twelve/nine/six/fifteen)
(ii) Cheque is
_______ money. (credit/cash/paper/metallic)
(iii) The demand
for consumer goods is __________ . (direct/indirect/mixed/constant)
(iv) ________ used
the term micro economics for the first time.
(Ragner Frisch/Marshall/J.
B. Clark/Adam smith)
(v) Labour is
geographically _______ factor. (mobile/immobile/stationary/immovable)
(D) Match
the column : (5)
A
|
B
|
(i)
Monopolistic competition
|
(a)
Risk taking
|
(ii)
Money
|
(b)
Inferior goods
|
(iii)
Enterpreneur
|
(c)
Chamberlin
|
(iv)
Demat
|
(d)
Normal goods
|
(v)
Giffen
|
(e)
Shares
|
(f)
Fixed deposits
|
|
(g)
Schumpeter
|
Q.2. (A) Define or explain
the concepts : (any four) (8)
(i) National Income (v) Capital
(ii) Overdrafts (vi) Keynes psychological law of Consumption
(iii) Monopolistic
competition (vii) Complementary demand
(iv) Gross
Domestic Product (viii) Budget
(B) State
whether the following statements are true or false: Give reasons (Any four) (8)
(i) Demand
varies directly with price.
(ii) Stock
cannot exceed supply.
(iii) Selling
costs are peculiar to monopolistic competition.
(iv) Labour
cannot be stored.
(v) Services of
housewife are included in national income.
(vi) Autonomous
consumption depends on income.
(vii) The central
bank controls credit.
(viii) A budget
should be economic and flexible.
Q.3. (A) Distinguish
between any four of the following : (8)
(i) Fixed
capital and Variable capital
(ii) Private
monopoly and Social monopoly
(iii) Surplus
budget and Deficit budget
(iv) Barter
economy and Money economy
(v) Contraction
of demand and Decrease in demand
(vi) Central bank
and Commercial bank
(vii) Gross
investment and Net investment
(viii) Gross
national product and Net national product
(B) Give
reasons or explain: (Any four) (8)
(i) The central
bank is the lender of the last resort.
(ii) Marginal
utility of money can never become zero.
(iii) Macro
economics is the study of aggregates.
(iv) A firm under
perfect competition is a price taker.
(v) Non
insurable risks are called uncertainties.
(vi) All capital
is wealth.
(vii) A commercial
bank is a profit seeking institution.
(viii) Tax is a
major source of revenue to the government of India.
Q.4. (A) Write
answers in one or two paragraphs each : (Any two) (8)
(i) State the
features of land.
(ii) Explain the
output method to measure national income.
(iii) Explain the
primary functions of money.
(iv) Explain the
importance of micro economics.
(B) Write
explanatory notes: (Any two) (8)
(i) What are
the features of monopoly?
(ii) Government
expenditure
(iii) Explain the
types of price elasticity of demand
(iv) Types of
utility
Q.5. State with
reasons whether you agree or disagree with the following Statements:
(Any two) (16)
(Any two) (16)
(i) There are
no exceptions to the law of diminishing marginal utility.
(ii) Aggregate
supply depends on many factors.
(iii) All things
cannot be good money.
Q.6. Answer in
detail any two of the following : (16)
(i) State and
explain the law of supply
(ii) What is
perfect competition? Explain price determination under perfect competition.
(iii) What are
the difficulties encountered in the measurement of national income?
