Economics March 2015 Board Question Paper


Q1. A. Fill in the blanks with appropriate alternatives given in brackets below the questions: (5)

1. The terms ‘micro’ and ‘macro’ economics were first used by ____________ (Ragnar Frisch)

(Marshall / Ragnar Frisch / Robbins / Adam Smith)

2. The objective of a seller in monopoly market is _____________ maximization. (Profit)

(Loss / Profit / negative profit / zero profit)

3. Marginal propensity to consume + Marginal propensity to save is equal to _______ (one)

(zero / one / less / more)

4. Method of withdrawing money without going to the bank is by ___________ (ATM)

(cheque / demand draft / ATM / mail transfer)

5. The term ‘budget’ is derived from the _______________ word ‘bougette’.( French)

(Greek / German / French / Latin)

B. Match the following Group ‘A; with Group ‘B’

Group ‘A’
Group ‘B’
1. Pen and ink (g)
a. Quantity price
2. Revenue (h)
b. Accident (3)
3. Insurable risk (b)
c. Transfer income (4)
4. Unemployment allowance (c)
d. Short period
5. Reverse repo rate (f)
e. Long period

f. Change in demand (5)

g. Joint demand (1)

h. Quantity × Price. (2)

C. State whether the following statements are True or False. (6)

1. Demand for perishable goods is inelastic. (True)

2. Total cost is the total expenditure incurred by firm. (True)

3. The seller is a price maker in the perfect competition. (False)

4. Cheque is an optional money. (True)

5. A bank is an institution which deals in money and credit. (True)

6. The RBI was nationalised in the year 1935. (False)

Q2. (A) Define or explain the following concepts (Any Three) (6)

3. Market

4. Labour

(B) Give reasons or explain the following (Any Three) (6)

2. Cheque in the price of substitute goods affects the demand for another goods.

Q3. A. Distinguish between (Any Three) (6)

B. Write short notes (Any Two) (6)

Q4. Write short answers for the following questions (Any Three) (12)

Q5. Explain with reasons whether you ‘agree’ or ‘disagree’ with the following statements (Any Three) (12)

Q6. Write explanatory answers. (Any Two) : (16)