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    ECONOMICS S. Y .J.C. PRELIMINARY EXAMINATION JANUARY 2024

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    ECONOMICS S. Y .J.C. PRELIMINARY EXAMINATION JANUARY 2024

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    ECONOMICS S. Y .J.C. PRELIMINARY EXAMINATION JANUARY 2024

    Uploaded by

    swastik kadu

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    Parle Tilak Vidyalaya Association’s

    MULUND COLLEGE OF COMMERCE, S.N.Road, Mulund (W) Mumbai -80


    S.Y.J.C PRELIMINARY EXAM JANUARY 2024
    SUBJECT: ECONOMICS
    Date: 10.01.2024 Marks: 80 Time: 3.00Hrs
    ______________________________________________________________________________
    Notes: 1. All questions are compulsory.
    2. Draw tables/diagrams wherever necessary.
    3. Figures to the right indicate full marks
    4. Write answers to all main questions on new page.
    Q1. (A) Choose the correct option from given options: (5)
    1. Statements that are related to cross elasticity of demand.
    a) Change in quantity demanded of one commodity due to change in the price of other
    commodity.
    b) It is a type of elasticity of demand.
    c) It is applicable to complementary goods and substitutes.

    d) It is expressed as
    Options: 1) a, b, c, d 2) a, b, c 3) Only b 4) a, b
    2. Features of Oligopoly market.
    a) There are few firms or sellers.
    b) Sellers sell differentiated product.
    c) There is free entry and exit of firms.
    d) There is considerable element of uncertainty in this type of market.
    Options: 1) a, b 2) a, b, c 3) b, c 4) a, d
    3. Statements incorrect in relation to Balance of trade.
    a) It is also referred to as international trade balance.
    b) Trade surplus arises when export value is greater than import value.
    c) Trade deficit takes place when import value is greater than export value.
    d) Balance of trade includes value of imports and exports of visible goods only.
    Options: 1) Only d 2) Only a 3) b, c, d 4) a, b, c
    4. Method of Qualitative credit control.
    a) Fixing margin requirements.
    b) Open market operations.
    c) Moral suasion.
    d) Credit rationing.
    Options: 1) a, b, c 2) b, c, d 3) a, c, d 4) a, b, c, d
    5. Members of National Income Committee (NIC).
    a) Prof P. C. Mahalanobis.
    b) Dr. V. K. R. V Rao.
    c) Prof D. R. Gadgil.
    d) Amartya Sen.
    Options: 1) a, b, c 2) b, c 3) a, d 4) a, b, c, d
    B) Give economic term: (5)
    1. Policy that deals with public expenditure, public revenue and public debt.
    2. Financial statement showing the expected receipts and proposed expenditure of the
    government in the coming financial year.
    3. Very realistic competition in nature.
    4. Revenue per unit of output sold.
    5. Net market value of all final goods and services produced within the territorial boundaries of
    a country a period of one year.
    C) Find Odd Word: (5)
    1. Development of New port.
    Kandla, Cochin, Mumbai, Nhava Sheva
    2. Scope of Macroeconomics.
    Theory of Income, Theory of Consumption Function, Theory of wages, Theory of Investment
    Function.
    3. Method of measuring Price Elasticity of Demand.
    Ratio method, Total Outlay method, Income method, Geometric method.
    4. Non tax Revenue.
    Special assessment, Special levy, GST, Fees.
    5. Types of Utility.
    Total utility, Time utility, Form utility, Service utility.
    D) Assertion and Reasoning questions: (5)
    1. Assertion (A): The slope of demand curve is a rectangular hyperbola in case of unitary elastic
    demand.
    Reasoning (R): In unitary elastic demand, percentage change in price leads to more than
    proportionate change in quantity demanded.
    Options: 1) (A) is True, but (R) is False.
    2) (A) is False, but (R) is True.
    3) Both (A) and (R) are True and (R) is the correct explanation of (A).
    4) Both (A) and (R) are True and (R) is not the correct explanation of (A).
    2. Assertion (A): Transfer payments are included in National Income.
    Reasoning (R): Transfer payments such as pension, unemployment allowance etc are a part of
    government expenditure.
    Options: 1) (A) is True, but (R) is False.
    2) (A) is False, but (R) is True.
    3) Both (A) and (R) are True and (R) is the correct explanation of (A).
    4) Both (A) and (R) are True and (R) is not the correct explanation of (A).
    3. Assertion (A): Monopolist is a price maker.
    Reasoning (R): Monopolist can fix the price of his own product
    as he controls the whole market supply.
    Options: 1) (A) is True, but (R) is False.
    2) (A) is False, but (R) is True.
    3) Both (A) and (R) are True and (R) is the correct explanation of (A).
    4) Both (A) and (R) are True and (R) is not the correct explanation of (A).

    4. Assertion (A): Stock exchange is an important constituent of the money market.


    Reasoning (R): Stock exchange is an organization in which stocks, bonds, commodities etc are
    traded.
    Options: 1) (A) is True, but (R) is False.
    2) (A) is False, but (R) is True.
    3) Both (A) and (R) are True and (R) is the correct explanation of (A).
    4) Both (A) and (R) are True and (R) is not the correct explanation of (A).
    5. Assertion (A): Perishable goods are exception to the law of supply.
    Reasoning (R): To avoid losses, perishable commodities are sold in greater quantities even at a
    lower price after certain period of time.
    Options: 1) (A) is True, but (R) is False.
    2) (A) is False, but (R) is True.
    3) Both (A) and (R) are True and (R) is the correct explanation of (A).
    4) Both (A) and (R) are True and (R) is not the correct explanation of (A).

    Q2. (A) Identify and explain the concepts for the given illustrations: (Any 3) (6)
    1. Manish purchased 100 metres of cotton textile to produce readymade shirts at his garment
    factory.
    2. Manohar was able to supply less paper to the market due to technical glitches in the paper
    making factory.
    3. AVM bank provides d-mat facility, internet banking and mobile banking facilities to its
    customers.
    4. Rohini used to pay less income tax when her income was low, but now she has to pay more
    income tax due to increase in income.
    5. Nilesh purchased ornaments for his sister.
    (B) Distinguish between: (Any 3) (6)
    1. Revenue Expenditure and Capital Expenditure.
    2. Demand Deposits and Time Deposits.
    3. Demand curve and Supply curve.
    4. Perfect Competition and Monopoly.
    5. Partial Equilibrium and General Equilibrium.
    Q3. Answer the following questions: (Any 3) (12)
    1. Define tax with its essential characteristics.
    2. Calculate Paasche’s Index number from the given data.

    Commodity Base Year Current Year


    Price Quantity Price Quantity
    A 35 10 40 15
    B 50 22 60 25

    3. Explain features of National Income.


    4. Explain the types of monopoly.
    5. Explain determinants of supply.

    Q4. State with reasons whether you agree or disagree with the following statements (any 3)
    (12)
    1. The services of housewife is included in National Income.
    2. Central Bank having monopoly of note issue is most appropriate institute of the government.
    3. Index Number can be constructed without the base year.
    4. Every desire of an individual is demand.
    5. Trade is an engine of growth for an economy.

    Q5. Study the following table, figure, passage and answer the questions given below it (any 2)
    (8)
    1)

    A] Mention the equilibrium point and equilibrium price in above diagram


    (2)
    B] Explain the concept of equilibrium price with the help of above diagram
    (2)
    2)

    A] Complete the table (2)


    B] Identify any two intra marginal units (1)
    C] Explain consumer’s equilibrium (1)
    3)
    Selling cost is categorized as expenses associated with marketing a company’s brand, product
    or service via media outlets. Selling cost is a cost paid by company for print advertisements,
    radio or TV broadcast, online, or via direct mail promotion. Selling cost is sometimes recorded
    as a prepaid expense on the balance sheet and then moved to the income statement when
    sales relate to those costs come in. Selling cost is a way to increase a company’s sales through
    brand or product awareness and to inform about new products or features. Several studies
    show that selling cost does, generally speaking, work to boost revenues.
    A] Define selling cost in your own words (2)
    B] Why do companies incur selling cost? (2)

    Q6. Answer the following questions in detail: (any 2) (16)


    1. Explain the concepts of variation and changes in demand with the help of diagrams.
    2. Explain the concept of pubic revenue and its sources.
    3. Explain the role of money market in India.
    =============================================================================

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