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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
• 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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