Section A Multiple Choice Questions 9 marks 1) Which slope did demand curve have? a)positive b)negative c)inverse d)none of the above
2) Units of commodity which are produced by the producers are
called ? a)supply b)stock c)production d)none of the above 3) Formula of total revenue? a) Quantity sold*price per unit b) total revenue/units sold c)average revenue-total revenue d)none of the above 4) Ahmedabad electricity company ltd. Is an example of ? a)Perfect competition b)imperfect competition c)Monopoly d)none of the above 5) Which of the following is not a characteristics of Land? a)Mobility b)perishable means c)natures gift d)unlimited diversity 6) Formula of Total Income (Y) =? a)C+I+G b)C+I+M+X c)C+S+T d)none of the above 7) Full form of APC? a)Average propensity to consume b)Additional propensity to comsume c)Average propensity to consume d)none of the above 8) In which year was RBI established? a) 1949 b)1931 c)1949 d)none of the above 9) Profit Income from public sectors is an example of ? a)Capital revenue b)Revenue expenditure c)Capital expenditure d)Revenue income Section B Answer in One line 9 marks 10) Define Balance trade? 11) Define Demand 12)Define Supply 13)Define variable cost 14) Define Market 15)Define labour 16) Full form of GDPMP 17)Formula of Marginal propensity to consume 18)Define Money Section C Answer in Short 16 marks 19) State the assumptions of law of demand? 20) Explain any 2 determinants of supply? 21)Explain any 2 characterstics of monopoly? 22)Explain national Income at market price? 23)Explain Subjective Factors and Objective Factors? 24)Explain any 2 Functions of Money. 25)Explain Surplus Budget. 26)Difference between Balance of trade and Balance of payment. Section D Answer in brief 21 marks 27) Explain in change in demand with diagram Or Explain Exceptions of Demand 28)Explain process of credit creation 29)Explain Average Fixed Cost, average variable cost and Average cost, all with diagram. 30)Explain Economic Equality OR Explain economic growth 31)Explain Balance of payment with debit credit difference. 32) Explain Law of Supply with schedule and diagram. 33) Short note on Gross National Product OR Short note Income Method. Section E 25 Marks Answer in Detail 34) Explain Deficit Budget 35)Explain Functions of Commercial Banks 36)Short note on Consumption expenditure with APC and MPC including Schedule and Diagram 37) Explain Law of Demand with schedule and diagram OR Explain different kinds of Price elasticity of demand 38) Explain Equilibrium and re-establishment of equilibrium OR Explain Capital and entrepreneur with its characteristics