(English Medium)
Academic Year: 2015-2016
Date & Time: 30th March 2016, 11:00 am
Duration: 2h
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Attempt all questions from Question 1 to Question 4
Attempt any four From Question 4 to Question 10
State any two differences between an entrepreneur and other factors of production.
Chapter: [0.01] Factors of Production
How does money help in maximising utility?
Chapter: [0.06] Meaning and Functions of Money
Explain two rights of a consumer.
Chapter: [0.14] Consumer Awareness
Mention one way by which the Government can reduce the inequalities of income and wealth in an economy.
Chapter: [0.1] Public Revenue
What is meant by the contraction in demand?
Chapter: [0.02] Elementary Theory of Demand
Mention two ways by which producers benefit from the division of labour.
Chapter: [0.01] Factors of Production
Mention the degree of price elasticity of demand for the following goods:
(1) cosmetics
(2) medicine
(3) school uniform
(4) air conditioners
Chapter:
Explain briefly two factors affecting the productivity of the land.
Chapter: [0.01] Factors of Production
A special virtue of indirect taxes is that they sometimes help in social reforms. Explain.
Chapter:
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Public expenditure in India has increased over the years. Explain four principal reasons for its increase.
Chapter: [0.11] Public Expenditure
Complete the following demand schedule:
| Price (in ₹) | Quantity of mangoes demanded (in kg) |
| 350 | 2 |
| 300 | |
| 250 | |
| 200 | |
| 150 | |
| 100 |
Chapter: [0.02] Elementary Theory of Demand
Draw a perfectly inelastic supply curve.
Chapter: [0.04] Theory of Supply
Explain three causes of low capital formation in India.
Chapter: [0.01] Factors of Production
What is the impact of the level of technology on supply?
Chapter: [0.02] Elementary Theory of Demand
Explain the following:
Creeping inflation
Chapter: [0.02] Elementary Theory of Demand
Why is creeping inflation considered good for an economy?
Chapter: [0.02] Elementary Theory of Demand
Mention two differences between fixed deposits and demand deposits.
Chapter:
What is meant by a degressive tax system?
Chapter: [0.1] Public Revenue
Define simple division of labour.
Chapter: [0.01] Factors of Production
Define the term demand.
Chapter: [0.02] Elementary Theory of Demand
Explain clearly two factors which determine demand.
Chapter: [0.02] Elementary Theory of Demand
Explain four important characteristics of labour as a factor of production.
Chapter: [0.01] Factors of Production
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Define public expenditure.
Chapter: [0.11] Public Expenditure
Explain two ways by which public expenditure promotes economic development.
Chapter: [0.11] Public Expenditure
What is meant by the efficiency of labour?
Chapter: [0.01] Factors of Production
Explain three causes of low efficiency of labour in India.
Chapter: [0.01] Factors of Production
With the help of a diagram, explain the meaning of the increase in supply.
Chapter: [0.04] Theory of Supply
What is meant by consumer awareness?
Chapter: [0.14] Consumer Awareness
Mention one way by which consumers are exploited in the market.
Chapter: [0.14] Consumer Awareness
Explain the primary functions of money.
Chapter: [0.06] Meaning and Functions of Money
Mention five differences between a direct tax and an indirect tax.
Chapter:
Explain briefly the five agency functions of a commercial bank.
Chapter:
Differentiate the following with examples:
Real capital and debt capital
Chapter: [0.01] Factors of Production
Differentiate the following with examples:
Money capital and sunk capital
Chapter: [0.01] Factors of Production
Explain three factors which determine the elasticity of supply.
Chapter:
Explain the following:
Productive debt and unproductive debt
Chapter:
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