Bismilla h

OMTEX CLASSES 2.30 hours

ECONOMICS

80Marks

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, Employment 2. 3. 4. 5.
theory) When the price of petrol goes up; demand of cars will _______ (Rise, Fall, Not changed, Remains Unchanged) Income elasticity of demand for inferior goods is_________ (Negative, Positive, Zero, Greater than one) The General Theory of Employment, interest and Money was published in ________ (1930, 1939, 1936, 1934) Reserve Bank of India was established in __________(1937, 1939, 1935, 1934)

(B) Match the correct Pairs: 5 Marks Group A Monopolistic competition Fixed capital Secondary function of Money Credit Creation Variable Cash Reserve Ratio Group B Machinery Commercial Bank Paul A. Samuelson Prof. E.H. Chamberlin Raw Material Standard of Deferred Payments Central Bank Lord J.M. Keynes

1. 2. 3. 4. 5.

1. 2. 3. 4. 5. 6. 7. 8.

(C) State whether the following statements are True or False: 6 Marks 1. 2. 3. 4. 5. 6. The demand curve of monopolistic competitive market is horizontal. Land is a free gift of nature. Macro economics is different from micro economics. Macro economics is also known as theory of income and employment. A cheque is bank money. 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. 2. 3. 4. 5. 6. General Equilibrium. Monopoly. Out put Percentage method. Natural Factors Bank Money

(B) Give Reasons or Explain the Statements: (Attempt any Three) 6 Marks

1. 2. 3. 4. 5. 6.

Macro economics is also known as income and employment theory. Overdraft facility is provided to current account holders. A central bank may take 'Direct Action' against the defaulting commercial banks. In balanced budget, Government Receipts equals Government Expenditure. Monopoly is a price taker. OMO are effective in influencing the credit supply.

Q.3 (A) Distinguish Between: (Attempt any Three) 6 Marks 1. 2. 3. 4. 5. 6. Revenue Receipt V/S Capital Receipt. Government Income V/S Government Expenditure Saving V/S Consumption Total Utility V/S Marginal Utility Export V/S Import. Taxable Income V/S Non-Taxable Income

(B) Write Short Notes: (Attempt any Two) 6 Marks 1. 2. 3. 4. Features of Land. Factor determinants of Consumption Function. Importance of Price elasticity of Demand.. Function of Entrepreneur.

Q.4 Answer the following questions: (Attempt any Three) 12 Marks 1. 2. 3. 4. 5. 6. What are the Qualities of Entrepreneur? What are the Exception to the Law of Demand Quantitative method Credit Control by the Central Bank. What are the Kinds of Investment Expenditure? State the features of National Income? 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. 2. 3. 4. 5. 6. Price is the sole determinants of Individual demand. There are three major method of measuring National Income. There are no Assumption in Law of Supply Commercial bank is the Baker to the government. There are no difficulties involved in measuring national Income. 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?

2. 3. 4.

Define Law of Supply? Explain its Assumption? Features of Labour? (A) What are the Types of Demand? (B) Features of Capital?