aes 58/1/1 lanl aie a saci © E75) re orate Fore | Candidates must write the Code on the title page of the answer-book. 4 pra sta ral fi ee wer ee ge 8 F 1 Breer a) wen ae RENE we HCH OTH TCT FETE TEE | pra sta ac ci fe we A 32 wae | pre ae RETR HA a ee, TIT RTTT wage fore | ya wera Ft wet & fer 15 frre ar ara fear mae Leena ar Pear Yates H 10.15 fear aT 1 10.15 FS 10,30 a8 we OE Fae WELT wT ET ait wa arate & ahr a sac afin BE eR A FTE | Please check that this question paper contains 8 printed pages. Code number given on the right hand side of the question paper should be written on the title page of the answer-book by the candidate. Please check that this question paper contains 32 questions. Please write down the Serial Number of the question before attempting it. 15 minutes time has been allotted to read this question paper. The question paper will be Jietibted at 10.15 am. From 10.15 a.m. t0 10.30 am. the students will read the question paper only and will not write any answer on the ‘answer-book during this period. Praifier wa 2 372 J] Lattice sie: 100 Time allowed : 3 hours ] [Maximum Marks : 100 arava Free: @ aha eaoet a arate ahrart & 1 (iy ees er BP ster a I TTT (iii) Wet eT 1-5 717-21 set LRT TR B ‘Borat acc ar 1 ates 1 Bree TR BACT poraraa tat rift e 1 (iv) Wet BET 6-10 3A 22-26 PETRIE IVA frat yoda & 3 sien 1 weer 1 TOE RTT 61) eee] PE ARE BT AUT | i (vy) We WT 11-13. atte 27-29 at TYRE We fat meter & 4 ster & 1 ester aT TAT “aoa: 70 ere onftar eF BrT TET | (vi) WRT HET 14-16 FH 30-32 SERMPAE AT a TB, Pat ee % 6 siee & ) oE aT “Ba ATeIEA: 100 BRE a safes eh BT TIT | (vii), Wet ATT ACD IRMETRT RTE | (viii) Fer eae mee PF eee ee ee ew Et HT aS | seit 1 [P-1.0.General Instructions : Ss8/1/1 () All. questions in both the sections are compulsory. (ii) Marks for questions are indicated against each. (iii) Question Nos. 1-5 and 17-21 are very short-answer questions carrying 1 mark each. They are required to be answered in one sentence each. (iv) Question Nos. 6-10 and 22-26 are short-answer questions carrying 3 marks each. Answers to them should normally not exceed 60 words each. () Question Nos. 11-13 and 27-29 are also short-answer questions carrying 4 marks euch. Answers to them should normally not exceed 70 words each. (i) Question Nos. 14-16 and 30-32 are long-answer questions carrying 6 marks each. Answers to them should normally not exceed 100 words each. (vii) Question Nos. 11 and 19 are value-based questions. (viti) Answers should be brief and to the point and the above word limits should be adhered to as far as possible. ws a SECTION -~ A Feac act & at scree Sif | 1 Give two examples of fixed costs. dtara aire at fear afar 1 Define marginal cost. fant aq af in af detsen aa aer ora? 1 ‘When is the demand for a good said to be inelastic ? ‘arse HPT ar at ATE | a Give the meaning of market demand. fae oer ana 4 dara anata (sree aba aise sree aie & 2 1 ‘Under which market form a firm’s marginal revenue is always equal to price ? fear aay site arara aq & cts ara BASIE | 3 Explain the difference between an inferior good and a normal good. i eae Stara seater Pras a ger Seen see st Tera See sf 3 rere sri faectan at aera suctam a ager st wei st eaen wifaT | Explain the law of diminishing marginal utility with the help of a total utility schedule. OR Explain the conditions of consumer's equilibrium with the help of utility analysis.8. vam weg at ee & 20 ft ead a & 30 ead a a, ee Se a SROTET BCT Te ‘gat a aoa (artsy F 100 Bae e 300 et sete Lyf at ine cite ar afters aif | 3 When the price of a good rises from @ 20 per unit to © 30 per unit, the revenue of the firm producing this good rises from % 100 to % 300. Calculate the price elasticity of supply. 9, Freaferfiac afer a ge ifr 3 ma TS atten serra (get) ‘sites seme (FTE) 1 8 2 10 are 3 10 4 cesses 5 oa 4 6 1 Complete the following table : Units of Labour Average Product, Marginal Produet (Units) (Units) 1 8 i 2 10 3 4 9 i 3 : 6 1 10, yet aaah arene ah “at ater & Be afte Feber” fave at rear SHAT | 3 Explain “large number of buyers and sellers” feature of a perfectly competitive market Ti. vee arererer & aeons 3 aren gee see are FE I weer thee 34 art saison eps eect & 1 sees ere aa SH Meera Sees TE wT TET SATE | 4 Production in an economy is below its potential due to unemployment. Government starts ‘employment generation schemes. Explain its effect using production possibilities curve. wie: Preafatina sr daw gedaan fore ae eT 1 SETAE | Note : The following question is for the blind candidates only in lieu of Q. No. 11. ew ardoraen § Soe are ger BER aT Sse TL wae dae 3 ath “aoe as act & sees Sea een AY evar Sea Te a aT SHE | 4 Production in an economy is below its potential due to unemployment. Goyernment starts employment generation schemes. Explain its effects using production possibilities schedule. S8/1/1 3 [P.T.0.12. ce deere Sere wh eT are a ages a a a eave sere 1 Explain the conditions of producer's equilibrium with the help of @ numerical example. 13. we aeg at i at aie cia — 0.4 & 1a cae at 5 afer ae at eat HT Feo afer Bah 2 afeeners TE | area vi oot heer ter wt peat ae aT Peat at aoe at een se | SUT SeTETT alfre t ‘The price elasticity of demand for a good is ~ 0.4. IF its price inereases by 5 percents by what percentage will its demand fall ? Calculate. OR Explain any two factors that affect the price elasticity of demand. Give suitable ‘examples. 44, reer 8a ge ae fer Preeaias ae wet aT TET @ watch er aa we oT Grae at Pt tray A He | i) Se teen rer en See 1 Giving reasons, state whether the following statements are true or false: ()-Amonopolist can sell any quantity he likes at a price. (ii) When equilibrium price of a good is less than its market price, there will be competition among the sellers. 15, ger seag abe dare sore aad at aren 8 ae orga Grae a ae aE Explain the Law of Variable Proportions with the help of total product and marginal product curves. aie ‘freafiatiaa wer thant gets witentirat & fore ser ee 1S eae! Note: The following question is for Blind Candidates only in lieu of Q. No. 15. ‘get atre ah arn ee er eee oe oe Pram at eran AE 1 Explain the Law of Variable Proportions with the help of total product and marginal product schedule. 16. gate aoe Present aren & sae 3 gent Bt eae ATE | area ‘frafatiaa & ota wearer oT area aire: HT agai at weet atte ct a aed BH Gi Benatar site eq wT Explain consumer's equilibrium with the help of Indifference Curve Analysis. OR Explain the relationship between (i) Prices of other goods and demand for the given good Gi) Income of the buyers and demand for @ good. S8//L 4 oe7. 18, 19. 20. 2. 22. 23. 24, 25. 26. 58/11 ws a SECTION -B swerer Fatah Prete feet fathers at aime at Se wenfaa ae wT F? How can increase in foreign direct investment affect the price of foreign exchange ? ‘aie sre ae eet F 2 What are demand deposits ? seedh wore” aor Wan Saree fe Parea cE eI A pet sat Give one example of “externality” which reduces welfare of the people. arora tt Bt See SP | Give two examples of indirect taxes. wear are aT ata F ? What is a Government Budget ? ay fairer aoe & orci areas & Set se eee at are aE | ABTA aa oa A Poa? Explain the problem of double coincidence of wants faced under barter system. How has money solved it ? rend aoe a aera ora ait Sptine er a Sg siting | oles ar Cae Sere AAT | reat ware oe ate tara are A ag alfa Distinguish between revenue expenditure and capital expenditure in Government budget. Give an example of each. oR Distinguish between revenue deficit and fiscal deficit. wear ane & fal Uw sivas are BIE | Explain any one objective of Government Budget. ait at apa & rae oe en wY ae wee Explain the effect of appreciation of domestic currency on imports. amr aie sie aig art & ate Ag ae Distinguish between balance of trade and balance on current account, 5 (PTO.27, Prafetiad sitesi a “faa” ar afters are : 4 @arat A) @ Berane Fat yes ahs 560 @ Fer 60 (ii) ae a oad 030 (iv) Weed art 1000 () Praia 200 (vi) sae ae 60 Calculate “sales” from the following data @ in lakhs) (i) Net value added at factor cost 560 (i) Depreciation 60 (iii) Change in stock ©30 (iv) _ Intermediate cost 1000 (v) Exports 200 (vi) Indirect taxes 60 28, sro ard a Preteen at ele alk ware Heelies 4 ‘ @® FF Gi) wa (ii) wer ha ea Gv) wf aeet ARE BT ST HATE TABI, | Giving reasons categorise the following into stock and flow : (i) Capital (i) Saving (iii) Gross domestic product (iv) Wealth OR Explain the circular flow of income. 29, Satta der oer ar ae” ard aT Sar aE | 4 Explain “Banker to the Government” function of the Central Bank. 58/1/1 630. Wr aekerren ar soutT er C= 100 + 0.4 & frat C sei aaa atte ¥ Tea oT Freer or 11008 | oiearert aiare : 6 @ Wr a Hig A Gi) Tear aq eee sri aT C= 100 + 0.4 Y is the Consumption Function of an economy where C is Consumption Expenditure and Y is National Income. Investment expenditure is 1100. Caleulate (Equilibrium level of National Income. (i) Consumption expenditure at equilibrium level of national income. 31. Preafetfiac anfereor at afore: 6 art sau at Pia aeaaghe | ateraea agit & @ 0 80 100 140 04 [aes 200 z I 0 240, fi I 0.20 = 260 08 0.35 ‘Complete the following table : Income — [Consumption expenditure| ‘Average @ © propensity to save | propensity to save| 0 80 100 140 oa = 200 aa 0 240, : 0.20 260 08 0.35 32. Frefefiac aitest @ aga ara ar oftecrs afer 6 miei @ Fst afr srt ae 900 Gi) am 100 (i) Weat ahae sort 400 (iv) Prac omen at 100 (@) Bre Seta fot Frater 250 (i) eA aa 50 (vii) fateit 8 Frat ree arr O40 (iii) fer tsar srr 20 Gx) Frac arena 30 S8/1/1 1 [P-T.0.ee sa/1/1 freafetisa afters & Frat ta water ona ar uftarert PE : @ Gi) ii) Ww) ”) wi (vii) Calculate National Income from the following data : @ Gi) Gil) Gv) ” (vi) (vii) (viii) (x) arene yer wet Seta STS ‘ay fava at Pract Sstiae wecicret Frat TACT HT fate st Pract rer aa wet eT fer fp an seit wea 8 fplar Carey) weir Private final consumption expenditure Profit Government final consumption expenditure Net indirect taxes Gross domestic capital formation Change in stock Net factor income from abroad ‘Consumption of fixed capital ‘Net imports oR Gate a), 2000 ©) 200 150 60 70 200 150 (@ in crores) 900 100 400 100 250 50 O40 20 30 Calculate net national disposable income from the following data : @ i) Gii) Gy) ” wi) (vii) Gross domestic product at market price Net current transfers to rest of the world Net indirect taxes Net factor income to abroad National debt interest Consumption of fixed capital Current transfers from Government in crores) 2000 © 200 150 60 70 200 150