OMTEX CLASSES ECONOMICSBISMILLAH Istpreliminary exam….
3 hours 100 marks
Don’t make any correction on objectives. BISMILLAH
Write four points for two marks answer. BISMILLAH
Q.1 (A) Fill in the blanks with appropriate alternatives given in the brackets: (5 marks)BISMILLAH
1. If the price of the inferior good falls, the demand for them wills ____________. (increase, decrease, become zero)
2. Demand elasticity can be measured from demand curve by ____________method. (total outlay, geometric, percentage, mathematical)
3. To increase credit creation Central Bank ___________the debentures. (sells, purchases, borrows, stocks)
4. Marginal consumption function is always ___________ (zero, less than one, more than one, one)
5. ___________economics can study the problem of inflation in the country. (micro, macro, static, dynamic)
(B) State the whether the following statements are true or false: (5 marks) BISMILLAH
1. Poison has utility.
2. Demand will not increase by coming of new customers.
3. Demand elasticity concept is useful for labour union. OMTEX CLASSES
4. There is no price discrimination in the monopolistic competition. Group B
5. Due to government expenditure demand increases.
(C) Choose the correct answer: (5 marks)BISMILLAH
1. In the period of scarcity of a particular commodity_____________. (price becomes less, demand becomes less, price and demand increase, price and demand decreases)
2. When income increases consumption and saving _________. (decreases, increases, be constant, be equal)
3. Currency rate of India to other currency means___________(interest rate, exchange rate, tax rate, profit rate)
4. In the long run supply becomes __________. (active, inactive, zero, negative)
5. Demand elasticity of habitual goods is____________. (more elastic, less elastic, zero elastic, unitary elastic)
(D) Match the following Group ‘A’ with Group ‘B’: (5 marks)BISMILLAH
| Group ‘A’ | Group ‘B’ |
| 1. Economics 2. Reward of Capital 3. Value of money 4. Establishment of Central Bank 5. Sales Tax | 1. Not Steady 2. 1st April 1935 3. Social Science 4. Income from commodity tax 5. Natural Science 6. Interest 7. 1st April 1939 |
Q.2 (A) Explain the following concepts or give definition: -BISMILLAH (any 4) (8 Marks)
1. Average Propensity to Consume
2. Monetary System
3. Saving
4. Consumption
5. Paper Money
6. Fixed Deposit
7. Surplus Budget
8. Export
(B) State whether the following statements are true or false give reason: -BISMILLAH (any 4) (8 Marks)
1. Low interest rate is given on Fixed Deposit.
2. Actual Money and near money are one and the same. (False)
3. Central Bank has monopoly power to issue notes.
4. There is no difference between surplus and deficit budget.
5. Public revenue always exceeds public expenditure.
6. Donation is not compulsory.
7. Petrol and diesel have positive cross elasticity of demand.
8. The demand for composite commodities is elastic.
Q.3 (A) Distinguish Between: - BISMILLAH (any 4) (8 Marks)
1. Percentage method V/S Total Outlay method
2. Stock V/S Supply
3. Perfectly elastic Demand V/S Perfectly Inelastic Demand
4. Demand Curve V/S Supply Curve
5. Land V/S Capital
6. Income method V/S Expenditure Method
7. Illegal Income V/S Transfer Income
8. Aggregate Demand V/S Aggregate Supply
(B) Give Reason or Explain: - BISMILLAH (any 4) (8 Marks)
1. Bearer cheque is as considered as very danger cheque.
2. For the Period of depression, deficit budget is prepared. Pg no…74
3. Margin requirement determines the value of loan.
4. Credit money can be refused.
5. Investment expenditure depends upon the rate of interest also.
6. The stock of capital is a determinant factor of aggregate supply.
7. Money is medium of exchange.
8. The demand of goods depends upon many factors.
Q.4 (A) Answer the following: - BISMILLAH (any 2) (8 Marks)
1. Consumption Function
2. Function of Money.
3. What are the Determinants of Market Demand?
4. Secondary Function of Commercial Bank?
(B) Short Notes: - BISMILLAH (any 2) (8 Marks)
1. What are the Determinants of Aggregate Demand?
2. Types of Utility.
3. Assumption of Law of Supply.
4. Relationship between Marginal Utility and Total Utility
Q.5 State with reason, whether you agree or disagree with the following statements: -BISMILLAH (any 2) (16 Marks)
1. Perfect Competition and Monopolistic competition is the same.
2. There is no Exception in Law of Supply.
3. Micro Economy is deal with whole economy.
Q.6 Answer the following questions in detail: - BISMILLAH (any 2) (16 Marks)
1. Explain the Law of Diminishing marginal Utility? Explain its Exception?
2. What meant by Perfect Competition? State its Features?
3. What is meant by Price Elasticity of Demand? Explain its Types?