ECONOMICS

Section A
Multiple Choice Questions 9 marks
1) Which slope did demand curve have?
a)positive b)negative c)inverse d)none of the above

2) Units of commodity which are produced by the producers are

called ?
a)supply b)stock c)production d)none of the above
3) Formula of total revenue?
a) Quantity sold*price per unit b) total revenue/units sold
c)average revenue-total revenue d)none of the above
4) Ahmedabad electricity company ltd. Is an example of ?
a)Perfect competition b)imperfect competition c)Monopoly d)none of the
above
5) Which of the following is not a characteristics of Land?
a)Mobility b)perishable means c)natures gift d)unlimited diversity
6) Formula of Total Income (Y) =?
a)C+I+G b)C+I+M+X c)C+S+T d)none of the above
7) Full form of APC?
a)Average propensity to consume b)Additional propensity to
comsume c)Average propensity to consume d)none of the above
8) In which year was RBI established?
a) 1949 b)1931 c)1949 d)none of the above
9) Profit Income from public sectors is an example of ?
a)Capital revenue b)Revenue expenditure c)Capital expenditure
d)Revenue income
Section B
Answer in One line 9 marks
10) Define Balance trade?
11) Define Demand
12)Define Supply
13)Define variable cost
14) Define Market
15)Define labour
16) Full form of GDPMP
17)Formula of Marginal propensity to consume
18)Define Money
Section C
Answer in Short 16 marks
19) State the assumptions of law of demand?
20) Explain any 2 determinants of supply?
21)Explain any 2 characterstics of monopoly?
22)Explain national Income at market price?
23)Explain Subjective Factors and Objective Factors?
24)Explain any 2 Functions of Money.
25)Explain Surplus Budget.
26)Difference between Balance of trade and Balance of payment.
Section D
Answer in brief 21 marks
27) Explain in change in demand with diagram
Or
Explain Exceptions of Demand
28)Explain process of credit creation
29)Explain Average Fixed Cost, average variable cost and Average cost,
all with diagram.
30)Explain Economic Equality OR Explain economic growth
31)Explain Balance of payment with debit credit difference.
32) Explain Law of Supply with schedule and diagram.
33) Short note on Gross National Product OR Short note Income Method.
Section E 25 Marks
Answer in Detail
34) Explain Deficit Budget
35)Explain Functions of Commercial Banks
36)Short note on Consumption expenditure with APC and MPC including
Schedule and Diagram
37) Explain Law of Demand with schedule and diagram
OR
Explain different kinds of Price elasticity of demand
38) Explain Equilibrium and re-establishment of equilibrium
OR
Explain Capital and entrepreneur with its characteristics