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Std.XII:ECO
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EMINENT LEARNING
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01
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BOARD QUESTION PAPER OCT 2014
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Time: 3 Hours
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Max. Marks: 80
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Notes:(1) All questions are
compulsory.
(2) Figures to the right indicate full marks
for the questions
(3) Figures to the left indicate question
marks.
(4) Answer to every question must be
started on new page.
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Q.1.(A).Select the correct answer
from the possible choices given below and rewrite the statement: (5)
(1) Microeconomics is a study of
____________
[whole economy/ individual economic unit /
general price level/ national output]
(2) The slope of demand curve is ___________
in the case of relatively inelastic demand.
[flatter/ steeper/ horizontal / vertical]
(3) The book ‘The General Theory of
Employment, Interest and Money’ was written by __________
[Marshall/ Keynes / Smith/ Ricardo]
(4) Every loan creates a ___________
[loss/ profit / deposit/ credit]
(5) _____________ is an example of direct
tax.
[Excise duty/ Income tax /
Sales tax / Gifts]
(B)Match the correct pairs:
(5)
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Group ‘A’
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Group ‘B’
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(1) Inferior goods
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(a) Average Cost (AC)
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(2) Reward of capital
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(b) 1st April to 31st March
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(3) Financial year
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(c) Quantitative measure of credit control
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(4) Bank rate
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(d)
Marginal cost
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(5) Total Cost (TC) / Total Quantity (TQ)
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(e)
1st January to 31st December
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(f)
Profit
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(g) Interest
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(h) Giffen goods
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(C) State whether the following statements
are true or false. (6)
(1) Demand for electricity is elastic.
(2) Supply is directly related to price.
(3) In monopolistic completion goods have
no close substitutes.
(4) Barter system did not have any
difficulty.
(5) D-mat account is useful to investors
who deal in shares.
(6) Clearing house system economises the
use of cash.
Q2. (A) Define or explain the following
concepts (Any Three)
(6)
(1) Microeconomics.
(2) Average revenue
(3) Monopoly
(4) Land
(5) Macroeconomic
variables
(6) Central Bank.
(B)
Give reasons or explain the following (Any Three) (6)
(1) Microeconomics is useful to the government.
(2) Utility is relative concept.
(3) Demand for habitually used goods in inelastic.
(4) Services of housewives are excluded from national income.
(5) Autonomous investment is not directly linked with profit.
(6) Central Bank has the sole power of issuing currency notes.
Q3. A. Distinguish between (Any Three) (6)
(1) Direct demand and Indirect demand.
(2) Percentage method of measuring elasticity of supply and
Geometric method of measuring
elasticity of supply.
(3) Microeconomics and Macroeconomics.
(4) Gross National Product and Net National Product.
(5) Standard coins and Token coins.
(6) Revenue budget and Capital budget.
B. Write short notes (Any Two)
(6)
(1) Historical
review of microeconomics.
(2) Proportional
method of measuring elasticity of demand.
(3) Price
determination under perfect competition.
(4) Risk
and uncertainty bearing function of an entrepreneur.
Q4. Write short answers for the following
questions (Any Three) (12)
(1) Explain
the importance of the law of Diminishing Marginal Utility.
(2) Explain the features of perfect competition.
(3) Explain the features of macroeconomics.
(4) Explain the determinants of aggregate supply.
(5) Explain
the various types of deposits.
(6) Explain
the types of government budget.
Q5. Explain with reasons whether you ‘agree’
or ‘disagree’ with the following statements
(Any
Three) (12)
(1) There
is no relationship between marginal utility and total utility.
(2) There are no exceptions to the law of demand.
(3) There is difference between stock and supply.
(4) Good
money has many qualities.
(5) Commercial
banks provide many general utility services.
(6) Central
Bank does not work as a banker to the government.
Q6. Write explanatory answers. (Any Two) :
(16)
(1) State and explain the law of demand with assumptions.
(2) What is elasticity of demand? Explain the types of price elasticity of demand.
(3) Explain any two method of measuring national income.
(4)
Explain
Keynesian psychological law of consumption.
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