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ECONOMICS HSC MARCH 2017 BOARD PAPER

Economics HSC Board Question Paper March 2017 & Important Questions 2018
Economics Board Paper Image 1 Economics Board Paper Image 2 Important Questions 2018 Image 1 Important Questions 2018 Image 2

ECONOMICS BOARD QUESTION PAPER : MARCH 2017

Note:
(1) All questions are compulsory.
(2) Draw tables/diagrams, wherever necessary.
(3) Figures to the right indicate full marks.
(4) Write answers of every new question on a new page.

Q. 1. A. Fill in the blanks using proper alternatives given in the brackets: (5)

1. Market demand is a total demand of all buyers.

2. Perfectly inelastic demand curve is vertical straight line parallel to ‘OY’ axis .

3. Other factors remaining constant, when price of a commodity raises there is extension of supply.

4. National income is flow concept.

5. Central bank is the apex body of the monetary and banking system of the nation’s economy.

Economics Board Questions with Solution

Q1. B. Match the following: [5]

(Presented below are the correctly matched pairs as per the solution provided)

a. Adam Smith - (2) Father of economics.
b. Railway - (3) Public monopoly
c. Legal tender money - (7) Fiat money
d. D-mat account - (5) Buying and selling of shares.
e. Bank rate - (6) Quantitative tool of credit control.

Q. 1. C. State whether the following statements are True or False: (6)

1. Total Revenue = Total quantiry x Price - True.

2. Demand for necessary goods is inelastic - True.

3. Capital is a natural factor of production - False.

4. Consumption expenditure is the only component of aggregate demand - False.

5. Credit money is created by the central bank of a country. - False

6. Budget is a monthly statement - False.

Q. 2. (A) Define or explain the following concepts (Any THREE): (6)

  1. 1. Microeconomics.
  2. 2. Service utility
  3. 3. Unitary elastic demand.
  4. 4. Disposable income
  5. 5. Autonomous consumption
  6. 6. Bank Rate

Q. 2. B. Give reasons or explain the following (Any THREE): [6 Marks]

  1. 1. Supply is directly related to price.
  2. 2. Price discrimination is possbile under monopoly.
  3. 3. Labour cannot be stored.
  4. 4. Macro economics is the study of aggregates.
  5. 5. Cash reserve ratio (CRR) affects the lending capacity of banks.
  6. 6. Microeconomics deals with allocation of resources.

Q. 3. A. Distinguish between (Any THREE): (6)

  1. 1. Increase in demand and decrease in demand.
  2. 2. Partial equilibrium and General equilibrium.
  3. 3. Personal income and National Income
  4. 4. Standard coins and Token Coins.
  5. 5. Direct Tax and Indirect Tax.
  6. 6. Extension of supply and contraction of supply.

Q.3. B. Write short notes on (Any Two) (6)

  1. (1) Importance of microeconomics.
  2. (2) Factors determining elasticity of demand.
  3. (3) Features of monopoly.
  4. (4) Types of capital.

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

  1. (1) What are the characteristics of utility?
  2. (2) What are the features of ‘pure competition’?
  3. (3) What are the features of ‘microeconomics’?
  4. (4) What are the primary functions of commercial bank?
  5. (5) What are the types of budget?
  6. (6) What are the determinants of aggregate demand?

Q. 5. State with reasons. Whether you ‘agree’ or ‘disagree’ with the following statements (Any Three) [12]

  1. (1) There are no exceptions to the law of demand.
  2. (2) Commercial bank can create credit on the basis of primary deposits.
  3. (3) Central bank is called the bankers’ bank
  4. (4) There is no difference between stock and supply.
  5. (5) General acceptability is the only quality of good money.
  6. (6) Law of Diminishing Marginal utility is important in practice.

Q. 6. Write explanatory answers: (Any two) [16]

  1. (1) State and explain law of demand with assumptions.
  2. (2) Explain Ratio method and Geometric method of measuring price elasticity of demand.
  3. (3) What is National Income? Explain theoretical or conceptual difficulties of measuring National Income.
  4. (4) Explain the subjective and objective factors determining consumption function.

ECONOMICS BOARD PAPERS WITH COMPLETE SOLUTION.

MARCH 2014, OCTOBER 2014, MARCH 2015, JULY 2015, MARCH 2016, JULY 2016, MARCH 2017, JULY 2017

ECONOMICS HSC IMPORTANT QUESTIONS FOR BOARD EXAM

ALMOST 99.99% SURE QUESTIONS.

Define / Explain the following concepts. (Any Three)

Autonomous consumption
Average revenue
Bank Rate
Elasticity of supply
Induced Consumption Expenditure
Labour
Land
Market Demand
Microeconomics
Monopoly
National income
Price discrimination
Pure competition
Selling Cost
Service utility
Slicing method
Stock
Unitary elastic demand.

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

A deficit budget may prove useful during the period of depression.
Agricultural goods are exceptions to the law of supply.
All desires are not demand.
An entrepreneur is called a leader of the organization
Autonomous investment is not directly linked with profit.
Cash reserve ratio (CRR) affects the lending capacity of banks.
Macroeconomics is concerned with macro economic variables
Macroeconomics is the study of aggregates.
Micro economic theories are based on certain assumptions
Microeconomics deals with allocation of resources.
Paid services are included in national income.
Perfectly inelastic demand curve is parallel to OY axis
Unpaid services are not included in national income.
Utility has no ethical consideration
Utility is a relative concept
Utility is ethically neutral.
With the increase in income, both consumption and savings increase

Distinguish between (Any Three) (6)

Average Revenue and Average cost
Central Bank and Commercial Bank.
Convertible paper money and Inconvertible paper money.
Demand curve and supply curve
Desire and demand
Direct Tax and Indirect Tax.
Microeconomics and Macroeconomics.
Paper Money and Metallic Coins.
Partial equilibrium and General equilibrium.
Percentage method of measuring elasticity of supply and Geometric method of measuring elasticity of supply.
Personal income and National Income
Place utility and Time utility.
Stock and Supply.
Surplus Budget and Deficit Budget.
Total Cost and Total Revenue.

Write short notes (Any Two) (6)

Credit creation
Determination of equilibrium price under perfect competition
Difficulties in Barter system
Factors determining elasticity of demand
Importance of micro economics.
Importance of the law of diminishing marginal utility
Income elasticity of demand.
Microscopic study
Price determination under perfect competition
Types of loans of commercial bank
Types of monopoly.

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

Explain different types of loans and advances provided by commercial banks
Explain features of National Income.
Explain features of utility
Explain qualitative measures of credit control adopted by the Central Bank
Explain the importance of elasticity of demand
Explain the importance of the law of Diminishing Marginal Utility.
Explain the increase in supply and decrease in supply
Explain the law of diminishing marginal utility.
Explain the relationship between Total utility and Marginal utility.
Explain the secondary function of money.
Explain the subject matter of Microeconomics.
Explain the subject matter of macroeconomics.
Explain the types of government budget
Explain the types of utility
Explain the various types of deposits
Explain various types of Bank Deposits.
What are the main components of budget?
What are the primary functions of commercial bank?
What are the types of budget?
What is the importance of the study of Microeconomics?

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

Aggregate demand depends only on the consumption expenditure
Aggregate supply is influenced only by availability of natural resources.
Commercial banks cannot create credit money
Commercial banks perform agency functions to earn profit.
Commercial banks provide many general utility services.
During the period of inflation surplus budget is advisable.
General acceptability is the only quality of good money.
The law of diminishing marginal utility can be explained with the help of schedule and diagram
The law of equi – marginal utility is based on certain assumptions.
The law of ‘diminishing marginal utility’ is important in practice
There are many features of labour
There are no exceptions to the law of demand.
There is no difference between the Central bank and a commercial bank.
There is no relationship between marginal utility and total utility.
Various factors influence Elasticity of Demand
Various factors influence the demand for a commodity.

HSC ECONOMICS IMPORTANT EXPLANATORY ANSWERS FOR BOARD EXAM

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

Explain any ‘two methods’ of measuring price elasticity of demand.
Assumption to the Law of Diminishing Marginal Utility.
Exception to the Law of Diminishing Marginal Utility.
Explain Ratio method and Geometric method of measuring price elasticity of demand.
Explain the subjective and objective factors determining consumption function.
Title: Economics HSC Board Question Paper March 2017 & Important Questions Labels: Economics, HSC Board, Question Papers, 12th Std, Maharashtra Board, Board Exam Permanent Link: economics-hsc-board-question-paper-march-2017-solution-important-questions Search Description: Complete solution for Economics HSC March 2017 Board Paper and important questions for board exam.
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