OMTEX AD 2

HSC ECONOMICS MARCH 2014 BOARD PAPER

HSC Economics Board Paper - March 2014

Name Page No. 1 Name Page No. 2

Q1. Objective Questions (16 Marks)

A. Fill in the blanks (5 Marks)

  1. Microeconomics is a Partial equilibrium approach.
    (Partial / general / total / multi-variable)
  2. The demand for salt is inelastic.
    (elastic / inelastic / infinite elastic / unitary elastic)
  3. Investment made by the government is autonomous investment.
    (unplanned / gross / autonomous / induced)
  4. A bank is an institution which deals in money and credit.
    (commodity money / credit / barter / standard money)
  5. During depression, a deficit budget is preferable.
    (balanced / surplus / deficit / zero)

Economics Board Questions with Solution

B. Match the Following (5 Marks)

Group ‘A’

  • 1. Tea and Coffee
  • 2. Stock
  • 3. Labour
  • 4. National Income
  • 5. Clearing house system

Group ‘B’

  • a. Wages
  • b. Flow concept
  • c. Central bank
  • d. Commercial bank
  • e. Complementary goods
  • f. Rent
  • g. Potential supply
  • h. Substitute goods

Correct Answers:

1-h,   2-g,   3-a,   4-b,   5-c

C. State True or False (6 Marks)

  1. Perfectly inelastic demand curve is parallel to the ‘Y’ axis. True
  2. Supply is inversely related to price. False
  3. Price discrimination is possible under monopoly. True
  4. In the case of token coins, intrinsic value is less than their face value. True
  5. Credit money is created by the Central Bank of a country. False
  6. The main objective of the Central Bank is to earn profit. False

Q2. Concepts and Reasons (12 Marks)

A. Define or explain the following (Any Three)

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

Q3. Distinctions and Short Notes (12 Marks)

A. Distinguish between (Any Three)

B. Write short notes (Any Two)

Q4. Short Answer Questions (Any Three - 12 Marks)

  1. Explain the types of utility.
  2. Explain the features of monopolistic competition.
  3. Explain the subject matter of macroeconomics.
  4. Explain the determinants of aggregate demand.
  5. Explain the agency function of commercial banks.
  6. Explain the budget expenditure of the government.

Q5. Agree or Disagree with Reasons (Any Three - 12 Marks)

  1. The law of ‘diminishing marginal utility’ is important in practice.
  2. Price is the only determinant of demand.
  3. Supply curve of labour bends backwards.
  4. Money also performs certain contingent functions.
  5. Commercial banks cannot create credit money.
  6. Cash reserve ratio is a quantitative measure of credit control.

Q6. Explanatory Answers (Any Two - 16 Marks)

  1. State and explain the ‘law of demand’ with its exceptions.

  2. Explain any ‘two methods’ of measuring price elasticity of demand.

  3. Explain the practical difficulties involved in the measurement of national income.

  4. What is ‘Consumption function’? Explain the subjective factors which determine consumption functions.

Important Questions for Board Exams

ALMOST 99.99% SURE QUESTIONS

Define / Explain the Following Concepts
Give Reasons or Explain the Following
Distinguish Between
Write Short Notes
Agree or Disagree with Reasons
Explanatory Answers (Long Questions)
Labels:
Location: Maharashtra, India

OMTEX CLASSES AD