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BismillahOMTEX CLASSES ECONOMICS 80Marks
2.30 hours
Q.1 (A) Select the correct answer form the possible options
given below and rewrite the statements:
5 Marks
1. Micro economics is also called as __________ (Income theory,
Price theory, growth theory, Employmenttheory)
2. When the price of petrol goes up; demand of cars will _______
(Rise, Fall, Not changed, RemainsUnchanged)
3. Income elasticity of demand for inferior goods is_________
(Negative, Positive, Zero, Greater than one)4. The General Theory
of Employment, interest and Money was published in ________ (1930,
1939, 1936,
1934)
5. Reserve Bank of India was established in __________(1937,
1939, 1935, 1934)(B) Match the correct Pairs:
5 Marks
Group A Group B
1. Monopolistic competition2. Fixed capital3. Secondary function
of Money4. Credit Creation5. Variable Cash Reserve Ratio
1. Machinery2. Commercial Bank3. Paul A. Samuelson4. Prof. E.H.
Chamberlin5. Raw Material6. Standard of Deferred Payments7. Central
Bank8. Lord J.M. Keynes
(C) State whether the following statements are True or
False:
6 Marks
1. The demand curve of monopolistic competitive market is
horizontal.2. Land is a free gift of nature.3. Macro economics is
different from micro economics.4. Macro economics is also known as
theory of income and employment.5. A cheque is bank money.6.
Regulation of consumer credit is a quantitative credit control
measure of Central Bank.
Q.2 (A) Define or Explain the following concepts: (Attempt any
Three)
6 Marks
1. General Equilibrium.2. Monopoly.3. Out put4. Percentage
method.5. Natural Factors6. Bank Money
(B) Give Reasons or Explain the Statements: (Attempt any
Three)
6 Marks
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1. Macro economics is also known as income and employment
theory.2. Overdraft facility is provided to current account
holders.3. A central bank may take 'Direct Action' against the
defaulting commercial banks.4. In balanced budget, Government
Receipts equals Government Expenditure.5. Monopoly is a price
taker.6. OMO are effective in influencing the credit supply.
Q.3 (A) Distinguish Between: (Attempt any Three)
6 Marks
1. Revenue Receipt V/S Capital Receipt.2. Government Income V/S
Government Expenditure3. Saving V/S Consumption4. Total Utility V/S
Marginal Utility5. Export V/S Import.6. Taxable Income V/S
Non-Taxable Income
(B) Write Short Notes: (Attempt any Two)6 Marks
1. Features of Land.2. Factor determinants of Consumption
Function.3. Importance of Price elasticity of Demand..4. Function
of Entrepreneur.
Q.4 Answer the following questions: (Attempt any Three)
12 Marks
1. What are the Qualities of Entrepreneur?2.
What are the Exception to the Law of Demand
3. Quantitative method Credit Control by the Central Bank.4.
What are the Kinds of Investment Expenditure?5. State the features
of National Income?6. What are the determinants of market
demand?
Q.5 Do you agree or disagree with the following statements. Give
reasons (Attempt any three)
12 Marks
1. Price is the sole determinants of Individual demand.2. There
are three major method of measuring National Income.3. There are no
Assumption in Law of Supply4. Commercial bank is the Baker to the
government.5. There are no difficulties involved in measuring
national Income.6. The Bank rate is not fixed by the Central Bank
of the country.
Q.6 Answer in Detail: (Attempt Any Two)
16 Marks
1. Explain the Types of Price Elasticity of Supply?
