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General Instructions:
(i) This question paper contains five Sections A, B, C, D and E.
(ii) Section A consists of 10 questions carrying 1 mark each.
(iii) Attempt any 10 questions from Section B, carrying 2 marks each .
(iv) Attempt any 8 questions from Section C, carrying 5 marks each.
(v) Attempt any 2 questions from Section D, carrying 10 marks each.
(vi) Attempt any 2 questions from Section E, carrying 5 marks each.
(vii) All parts of the questions should be attempted at one place.
Question 1
  • Q1

    What is utility 

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  • Q2

    Define "Demand". 

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  • Q3

    Who introduced the concept of real cost? 

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  • Q4

    Write the meaning of Market. 

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  • Q5

    Give the meaning of 'Duopoly'. 

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  • Q6

    What do you mean by Macro-economics? 

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  • Q7

    Expand GDP. 

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  • Q8

    What is barter system? 

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  • Q9

    What is saving? 

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  • Q10

    Give the meaning of foreign trade. 

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  • Q11

    What are the basic functions of an economy? 

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  • Q12

    Mention any two properties of budget line. 

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  • Q13

    Name the factors of production. 

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  • Q14

    Write any two differences between firm and industry. 

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  • Q15

    What are selling costs? What is their main objective? 

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  • Q16

    Name any two areas of study under macro-economics. 

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  • Q17

    Name the methods of measuring national income. 

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  • Q18

    Give four objectives of monetary policy. 

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  • Q19

    How is saving equal to investment? 

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  • Q20

    Distinguish between surplus budget and deficit budget. 

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  • Q21

    How can a budgetary deficit be reduced? 

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  • Q22

    What are the differences between baalcne of trade and balance of payament? 

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  • Q23

    Discuss the three fundamental economic problems. 

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  • Q24

    Explain any five uses of micro economics. 

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  • Q25

    Explain any five properties of indifference curves. 

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  • Q26

    Classify the price elasticity of demand. 

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  • Q27

    Explain the laws of returns to scale with the help of diagram. 

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  • Q28

    What is oligopoly market? Write down the characteristics of oligopoly market. 

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  • Q29

    Describe the features of monopoly. 

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  • Q30

    'Although macro-economics has gained maximum popularity', yet it is not free from limitations'. Justify this statement. 

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  • Q31

    Explain the primary and secondary functions of money. 

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  • Q32

    What is investment? Explain the types of investment. 

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  • Q33

    Explain the role of public expenditure as an instrument of fiscal policy. 

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  • Q34

    Explain the theories of determination of exchange rate. 

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  • Q35

    Explain the law of diminishing marginal utility with a schedule and diagram. 

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  • Q36

    Give the meaning of supply and explain the law of supply with the help of a schedule and diagram. 

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  • Q37

    Discuss the difficulties in the measurement of national income. 

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  • Q38

    Explain the functions of commercial banks. 

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  • Q39

    As per the demand function Qd = 40 – 2p, when the price of tomato per kg., is Rs. 8, 10, 12, 14 and 16, then calculate the quantity of demand and derive an individual demand curve. 

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  • Q40

    Calculate the missing costs :
     

    Output in Units TFC TVC TC AFC AVC AC
    1 50 ? 70 50 ? ?
    2 ? 30 ? 25 ? 40
    3 50 ? 90 ? 13.33 30
    4 50 60 110 12.5 15 27.5
    5 50 90 ? 10 18 ?
     

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  • Q41

    If the demand and supply function of raw cotton are Qd = 250 – 50p and Qs = 25 + 25p, find the equilirbium price and the equilibrium quantity demanded and supplied and prove that any price other than equilibrium price leads either to excess supply or excess demand. 

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