Q.1 (A) FILLS IN THE BLANKS 5 MARKS
- Reserve Bank of India was nationalized in the year _____________. (1949, 1939, 1935, 1956)
- When MU is _____________ TU decreases. (positive, negative, zero, high)
- Micro economic analysis adopts _____________ method. (lumping, aggregative, slicing, inclusive)
- The most liquid asset is __________ (cheque, money, shares, debentures)
- During depression _________budget is preferable. (balanced, surplus, deficit, zero)
(B) MATCH THE PAIRS 5 MARKS
1. Tax revenue
2. Capital receipts
4. non-tax revenue
5. one year
6. government expenditure > Government revenue
7. two years
(C) SAY WHETHER THE FOLLOWING STATEMENTS ARE TRUE OR FALSE 6 MARKS
- Demand for labour is direct demand.
- Total outlay is price multiplied by quantity.
- Utility is the basis of demand.
- Micro economics deals with allocation of resources
- A cheque is bank money.
- Consumption expenditure is the only component of aggregate Supply.
Q.2 (A) DEFINE / EXPLAIN (ANY THREE) 6 MARKS
- Bank Rate.
- Government Expenditure.
- Deficit Budget.
- Indirect Tax.
- Non-taxable income.
(B) GIVE REASONS (ANY THREE) 6 MARKS
- Single price prevails in perfect competition.
- Labour cannot be stored.
- Macro economics is different from micro economics.
- Old age pension is transfer income
- Under monopoly seller is a price maker.
- Money act as a medium of exchange
Q.3 (A) DISTINGUISH BETWEEN (ANY THREE) 6 MARKS
- Revenue Receipt V/S Capital Receipt.
- Qualitative credit control V/S Quantitative credit control.
- Commercial Bank V/S Central Bank.
- Loan V/S over Draft.
- Current Deposit V/S Fixed Deposit.
- Convertible Paper Money V/S Inconvertible Paper Money.
(B) ANSWER THE FOLLOWING (ANY TWO) 6 MARKS
- Features of Perfect Competition.
- Types of Demand.
- Function of Money.
- Saving Function or Propensity to save.
Q.4 SHORT NOTES (ANY THREE) 12 MARKS
- Features of National Income.
- Types of Price Elasticity of Demand.
- Aggregate Supply. Or determinants of Aggregate supply.
- Function of Entrepreneur.
- Types of Cheques.
Q.5 DO YOU AGREE OR NOT (ANY THREE) 12 MARKS
- There is no exception in law of supply.
- Micro economics deals with individual unit. (write features of micro economics)
- Price discrimination is possible under monopoly.
- Supply curve slopes downward from left to right.
- Seller is a price taker under Monopoly. (write about features of monopoly Don't give heading)
Q.6 ANSWER IN DETAIL (ANY TWO) 12 MARKS
- Explain the Law of Supply? And it's Assumption?
- Function of Central Bank?