Economics Question Paper 2nd Preliminary Exam Yr-24-25 PDF

SINDHU EDUCATION SOCIETY ECONOMICS Time: 2 Hours Total Marks: 50 DATE: STD. XII All questions are compulsory. (ii) Figur...

SINDHU EDUCATION SOCIETY ECONOMICS Time: 2 Hours Total Marks: 50 DATE: STD. XII All questions are compulsory. (ii) Figures to the right indicate full marks for the questions’ (iii) Figures to the left indicate question numbers. (iv) Answer to every question must start on a new page. Q. 1. (A) Complete the following statements by choosing the correct alternatives: (5) (1) In the law of diminishing marginal utility, Alfred Marshall assumes that marginal utility of money................................ (a) increases (b) remains constant (c) decreases (d) rises and then falls (2) Demand curve is parallel to X-axis in case of........................ (a) perfectly elastic demand (b) perfectly inelastic demand (c) relatively elastic demand (d) relatively inelastic demand (3) Index number is an..................... barometer. (a) Weights (b) simple (c) statistical (d) economic (4) In India, national income is estimated using …………………… (a) output method (b) income method (c) expenditure method (d) combination of output and income method Page | 1 (5) While calculating the National Income, we include only value of final goods and services to ……………… (a) avoid double counting (b) double counting (c) deducting depreciation from GDP (d) depreciation. (B) Find the odd word out : (5) (1) Harmful Products: Alcohol, Poison, Opium, Milk. (2) Necessary Goods: Salt, Medicine, Milk, Perfume. (3) Exceptions to the Law of Supply: Urgency of cash, Agricultural produce, Labour, Mobile phone. (4) Feature of Monopoly: Single seller, Large number of buyers, Selling cost, Price discrimination. (5) Legal monopoly: Patent, OPEC , Copyright, Trade mark. Q. 1. (C) Complete the correlation: (5) (1) Transportation of good : Place utility : : Furniture from wood : _ (2) Makros:Macro economics : : Mikros : : (3) : Central bank : : SBI : Commercial bank : : _ (4) Direct Tax : Wealth Tax : : _ : Excise Duty (5) Pen and ink : Complementary goods : : Car and milk : _ Q. 1. (D) Give an economic term: (5) (1) Reward of entrepreneur. (2) The Market where there are very few sellers. (3) Degree of responsiveness of quantity demanded to change in income only. (4) The additional utility derived from the consumption of an additional (last) unit of a commodity. (5) A situation where more quantity is demanded at lower price. Q. 2. Identify and explain the concepts from the given illustrations: (1) Due to rise in prices of mango, Sheetal demanded only three dozen mangoes instead of five dozen. (2) Ramesh decided to take all decisions related to production, such as what and how to produce? (3) ABC firm sold 10 chairs charging ` 1000 each and received ` 10000. (4) Vrinda receives monthly pension of Rs.5,000/- from the State Government. (5) Sheetal purchased wheat flour for her bakery from the flour mill Page | 2  Q. 3. Distinguish between: (1) Desire and Demand. (2) Micro economics and Macro economics. (3) Stock and supply (4) Simple Index Numbers and Weighted Index Numbers (5) Total utility and Marginal utility (6) Demand deposit and Time deposit Q. 4. Study the following table, diagram, passage and answer the questions given below: 1. Observe the table and answer the questions: Price of Demand (in Supply Relation banana dozen) (in between DD (per dozen) and SS dozon) in ` 10 500 100 DD > SS 20 400 DD > SS 30 300 DD = SS 40 200 DD < SS 50 500 DD < SS 1) Fill in the blanks in the above schedule. 2) Derive the equilibrium price from the above schedule with the help of a suitable diagram (2) Find out: Close substitutes for the following product (Write atleast two examples of each):- Products Substitutes 1) Gemini Oil 2) Colgate Toothpaste 3) Red Label Tea 4) Bru Coffee ------End----- Page | 3