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    Economics_New[1]

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    wecon

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    Economics_New[1]

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    Amit Pasi
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    wecon

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    wecon

    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    1 views5 pages

    Economics_New[1]

    Uploaded by

    Amit Pasi
    wecon

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Pre Board Examination 2024-25

    Class 12th (English Medium)


    Subject- Economics

    Time- 3 Hours Marks-80

    Name of the Teacher- Uroosa Kareemi

    Q1. Choose the correct answer. (6 marks)


    1. Who is the father of Modern Economics:

    (a) John Maynard Keynes. (b) Prof. J. k. Mehta


    (c)Marshall (d) Adam Smith

    2. Indian economy is :
    (a) Centrally planned economy (b) Market Economy
    (c) Mixed Economy (d) None of these

    3. Consumer is in equilibrium when


    (a) MUx = Px (b) MU > Px (c) MUx < Px (d) MUx ÷ Px

    4. Active factor of production

    (a) Capital (b) Labour (c) Land (d) None of these

    5. Market Price is found in:


    (a) Short period of market (b) Long Period market
    (c) Very long period market (d) None of these

    6 . Income and Employment are determined by:


    (a) Total demand
    (b) Total Supply
    (c) Total demand and total supply both
    (d) By market demand

    Q2. Fill in the blanks. (6 marks)


    1. There is ___________ relation between Price and Demand.
    2. Increase in total revenue by the sale of additional unit of the commodity is
    Called ________________.
    3. Price Ceiling means fixing of ________________by Government.
    4. Propensity to consume shows relation between ______________ and distributed
    income.
    5. __________is a document containing income and expenditure of the
    Government.
    6. Income tax is a __________ Tax. (direct/Indirect)
    Q3. True or False. (6 marks)

    1. Two indifference curve intersect each other………….


    2. There is Inverse relation between price and supply………….
    3 As compared to developed countries India’s per capita income is quite less………..
    4. The precautionary demand for money increases with the proportionate increase in
    Income………….
    5. Central Bank has direct relation with the public………….
    6. Full employment does not mean zero unemployment……………

    Q4. Match the column (7 marks)


    (a) Inelastic Minimum support price
    (b) Elastic Supply Replacement expenditure
    (c) Price floor is also called
    (d) Depreciation Demand of necessary or essential
    goods
    (e) Marginal propensity to consume
    (f) Balance of payment always remains Always favourable
    (g) India’s Balance of payments In balance

    Q5. Answer in one word/sentence (7 marks)


    1. Name the total of fixed cost and variable cost ………………….
    2. Who maintains buffer Stock of Commodities ………………………
    3. What is the nature of normal price - temporary or permanent?……………………
    4. National Income is studied under which economics? ……………………..
    5. Which sector contributes maximum in National Income?……………………
    6. The duration of Government budget is ………………
    7. What is the objective of trade? ……………………..

    Q6. What is opportunity cost (2 marks)


    or
    Distinguish between Micro and Macro Economics?

    Q7 What is Law of Diminishing Marginal Utility? (2 marks)


    or
    What is indifference Map?
    Q8. What is Market Demand? (2 marks)
    or
    What is Law of Demand?

    Q9 Explain constant returns to scale? (2 marks)


    or
    What is short run and long run?

    Q10. What is Price ceiling? (2 marks)


    or
    What is Price floor?

    Q11 Distinguish between stock and flow?


    or (2 marks)
    Distinguish between consumer goods and capital goods?

    Q12. What is barter system? What are its defects (2 marks)


    or
    Explain primary function of money?

    Q13. What is supply of money? (2 marks)


    or
    What is demand for money?

    Q14. What is Ex-ante investment and Ex-post investment?


    or (2 marks)
    What is average propensity to consume (APC)?

    15 An increase of ₹ 200 crore in investment leads to a rise in national income by ₹


    1000
    crores. Find out marginal propensity to consume. (2 marks)
    or
    In an economy investment is increased by ₹ 300 crore. If marginal propensity to
    Consume is 2/3 . Calculate increase in national income/multiplier.

    Q16 Write difference between substitute goods and complementary goods? (3 marks)
    or
    The demand for a commodity falls to 120 units in response to a rise in price by ₹
    2.
    If the original demand was 150 units at a price of ₹ 20, calculate the price
    Elasticity of demand
    Q17. Suppose the demand and supply curves of salt are given by: (3 marks)

    (1) Find equilibrium price and quantity .)


    or
    Write a note on perfect competition?

    Q18.What is Tax revenue? Explain direct tax and indirect tax? (3 marks)
    or
    Distinguish between revenue receipts and capital receipts?

    Q19. What is foreign Exchange Rate? Explain fixed and flexible exchange rate system?
    (3 marks)
    or
    Write meaning and definition of Balance of Payment (BOP)? Explain BOP
    Surplus and Deficit.

    Q20 What is Elasticity of demand? Explain degrees of price elasticity of demand


    (4 marks)
    Or
    Write difference between cardinal and ordinal utility?
    (4 marks)
    Q21. Calculate Average product and Marginal Product from the following information?

    Fixed Factor Land (in hectare) 1 1 1 1 1 1 1 1


    Variable Factors (Lab) units 1 2 3 4 5 6 7 8
    Total Output 20 60 120 160 180 180 168 128
    or
    Calculate the total fixed cost and total variable cost from the following?
    Output in units 0 1 2 3 4
    Total Variable Cost 80 102 122 140 156
    ( 4 marks)
    Q22. Calculate National Income on the basis of following information. (in ₹ crore)
    1. Net Domestic product at factor cost => 4700
    2. Income received from abroad by Indian residents=> 1,000
    3. Income received from India by foreign residents=> 1200
    or
    On the basis of following information, calculate-

    (a) Gross Domestic Product (b) Net Domestic Product (c) Gross National Product.
    (in ₹ crore)
    (i) Production of consumer goods 2,500
    (ii) Production of consumer services 1,000
    (iii) Production of capital goods 1,500
    (iv) Production of capital services 500
    (v) Net factor income from abroad 400
    (vi) Cost of depreciation 100

    Q23 Distinguish between Excess Demand and Deficient demand? (4 marks)


    Or
    Write Short Note on
    1. Ceteris Paribus
    2. Liquidity Preference
    3. Paradox of Thrift
    4. Under employment equilibrium

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