Q. 1 A) Find the odd word out:                                                                                                   (05)

1.         Individual consumer, Individual producer, Particular commodity, Total Savings

2.         Public expenditure, Public park, Public revenue, Public debt  

3.         Desire, ability to pay, uselessness, willingness to purchase

4.         Rent, wages, capital, Profit

5.         Indirect demand, individual demand, composite demand, competitive demand

 

Q1 B): Complete the Correlation:                                                                                              (05)

 

1.        Micro economics : Slicing method : : Macro economics :

 

2.        Output method :                    :: Income method : Factor cost method

 

3.        Total revenue :                 :: Average revenue : TR/TQ

 

4.        Expansion of supply : Price rises :: Contraction of supply :

 

5.        Direct Tax  :  Wealth Tax     ::                      :  Excise duty

 

Q1 C): Identify and explain the following concepts (any three)                                      (06)

1.         Padma collected the information about the income of a particular firm.

2.         Government of India takes loans from World Bank for Mumbai Metro Train.

3.        Padma receives monthly pension of Rs.5,000/- from the State Government.

4.         Mr. Tanwani a rich farmer buy a tractor .

PADMA.jpg5.         A seller is in urgent need for cash therefore he sell more at lower price.

 

Q2:      Distinguish between (any three)                                                                                   (06)

1.         Gross National product and Gross Domestic product

2.         Public finance and private finance

3.         Stock and Supply

4.         Micro economics and Macro economics

5.         Perfect Competition and Monopoly

 

Q 3:    Write short notes  (any three)                                                                                        (12)

1.         Features of Macro Economics

2.         Features of Perfect Competition

3.         Determinants of Market supply

4.         Reasons for growth of public expenditure in India

5.         Income method of measurement of National income

 

Q4:      Do you agree with the following statement? Give reason for the same

                                                               (any two)                    (08)

1.         Macroeconomics studies behavior of individual economic unit.          .

2.         Under output method, value added approach is used to avoid double counting.

3.         Public finance is more elastic than private finance.

4.         Demand curve sloped downward from the left to right.

 

Q5:      Answer in detail (any one)                                                                                              (08)

1.         Explain the difficulties involved in the measurement of National income.

2.         State and explain Law of Supply along with its exceptions.

 

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