Economics Model set 2 by shaalaa.com 2024-2025 HSC Commerce (English Medium) 12th Standard Board Exam Question Paper Solution

Trends shown by the Public expenditure of any Government show the following trend.

1. Constant
2. Increasing
3. Decreasing
4. Fluctuating

only a

only b

only c

only d

Concepts studied under Macroeconomics.

1. Whole economy
2. Economic development
3. Aggregate supply
4. Product pricing

a, b and c

b, c and d

only d

a, b, c and d

Types of foreign trade:

1. Import trade
2. Export trade
3. Entrepot trade
4. Internal trade

a and b

a, b and c

a, b, c and d

None of these

Choose the correct option:

The role of foreign trade is:

1. To earn foreign exchange
2. To encourage investment
3. Lead to the division of labour
4. Bring change in the composition of exports

a and b

a, b and c

b and d

None of these

"Definition - Public finance is one of those subjects which are on the borderline between economics and politics." given by:

1. Adam Smith
2. Alfred Marshall
3. Prof. Hugh Dalton
4. Prof. Findlay Shirras

only a

only b

only c

only d

Complete the correlation:

Co-operative banks : Organised Sector :: Indigenous bankers : ______

Complete the correlation:

Makros: Macro-Economics: Mikros: ______

Complete the Correlation:

Price taker : ______ :: Price maker :: Monopoly.

Complete the correlation:

Rectangular hyperbola : ______ : Steeper demand curve : Relatively inelastic demand.

Complete the correlation:

Rectangular hyperbola : ______ : Steeper demand curve : Relatively inelastic demand.

Give economic terms:

The cost incurred per unit of output.

Give economic term:

The market where there are few sellers.

Give economic terms:

Degree of responsiveness of a change of quantity demanded of a good to a change in its price.

Give economic term:

Degree of responsiveness of quantity demanded to change in income only.

Give economic terms:

Degree of responsiveness of a change in quantity demanded of one commodity due to a change in the price of another commodity.

Find the odd word out:

Unregulated Financial intermediates:

Mutual fund

Nidhi

Chit fund

Loan Companies

Find the odd word out:

Features of monopoly:

Price maker

Entry barriers

Many sellers

Lack of substitutes

Find the odd word out:

Quantitative Tools of credit control:

Bank rate

Open market operations

Foreign Exchange rate

Variable reserve ratios

Find the odd word out:

Legal monopoly:

Patent

OPEC

Copyright

Trademark

Find the odd word out:

Quantitative Tools of credit control:

Bank rate

Open market operations

Foreign Exchange rate

Variable reserve ratios

Identify and explain the concept from the given illustration:

Lalita satisfied her want of writing an essay by using pen and notebook.

Identify and explain the concept from the given illustration:

Maharashtra purchased wheat from Punjab.

Identify and explain the concept from the given illustration:

ABC bank provides a Demat facility, safe deposit lockers, and internet banking facilities to its customers.

Identify and explain the concept from the given illustration:

Salma purchased a sweater for her father in the winter season.

Identify & Explain the Concepts from the given illustration:

Viru kept aside 100 kgs. out of 500 kgs. of wheat produced on his farm for his family.

Distinguish between:

Increase in demand and Decrease in demand

Differentiate between the Money Market and Capital Market.

Distinguish between:

Price Index and Quantity Index.

Distinguish between the following concepts:

Public finance and Private Finance

Distinguish between Internal trade and International trade.

Explain the determinants of supply.

Explain any four features of national income.

Explain the problems faced by the money market in India.

State and explain the factors influencing the elasticity of demand.

Explain the significance of index numbers in economics.

State with reason whether you agree or disagree with the following statement:

The obligatory function is the only function of the Government.

Agree

Disagree

State with reason whether you agree or disagree with the following statement:

The goods and services tax (GST) has replaced almost all indirect taxes in India.

Agree

Disagree

State with reason, whether you agree or disagree with the following statement:

There are many theoretical difficulties in the measurement of national income.

Agree

Disagree

State with reason, whether you Agree or Disagree with the following statement. 

The demand curve slopes downward from left to right.

Agree

Disagree

State with reasons whether you agree or disagree with the following statement:

Macroeconomics and Microeconomics are different concepts.

Agree

Disagree

Observe the following table and answer the questions:

Supply schedule of chocolates

1. Complete the above supply schedule.
2. Draw a diagram for the above supply schedule.
3. State the relationship between price and quantity supplied.

Explain the diagram:

1. The diagram represents _______ in demand.
2. In the diagram, A movement of the demand curve is in ______ direction.

Explain the diagram:

1. The diagram represents ______ in demand.
2. In the diagram, the movement of the demand curve is in ______ direction.

Study the following table and answer the questions given below it.

1. Calculate GDP (Gross Domestic Product) on the basis of the above table.
2. Calculate NDP (Net Domestic Product) on the basis of the above table.

State and explain the law of supply with exceptions.

State and explain the assumptions of the law of diminishing marginal utility.

Explain the steps involved in the construction of index numbers.