Dr. A.R. Undre Eng. High school & Jr.

college, Borli-panchatan
Preliminary Exam. Jan-2023 *
Class-XII Com.
Sub-Economics.
Date-
Time-3hrs  marks-80
Note-1) All questions are compulsory .
2) Draw neat & clear diagram wherever necessary.
3) Figure to the Right indicate full marks.
4) write answer to all main questions on new page.
Q.1-A) Choose the correct option.   5M
1) The branch of economics that deals with the allocation of resources
a) Micro economics b) Macro economics.
c)econometrics        d) None of these.
options-1) a,b & c       2)a & b
               3) only a     4) None of these.

2) Concepts studied under Micro economics.

a) National Income b) General price level.
c) Factor Pricing   d) Product pricing.
  options- 1) b & c       2) b, c & cd
                  3) a, b & c   4) c & d.

3) Point of satiety means........

a) TU is rising, & MU is falling
b) TU is falling & MU is negative.
c) TU is maximum & MU is zero.
d)MU is falling & TU is rising.
options   1) a & b      2) only c
                  3) c & d     4) only d

4) Statements indicating consumer equilibrium-

a) MU is greater than price
b) MU is equal to price.
c)MU is less than price.
d)price is less than one.
options-1) a & b   2)a,b,c & d
               3) abfc 4) only b

5)Non-tax sources of revenue-

a) Direct & Indirect Tax
b) Direct Tax & Fees.
c)Fees
d)special levy.

options-1)b & c    2) a & b

               3)a,b,c & d  4) c & d

B) Complete the correlation -

1) Micro economics- Tree, Macro economics-[   ]
2) Pen & ink- [] ,Tea & coffee-substitutes.
3) Demand curve-[]:: Supply curve Upwards
4) Price taker[] .:: Price maker - Monopoly.

5)[] Base year prices, P₁- Current year prices.

C) - complete the following statements. 5M

1) when less units are demanded at high price it shows........

a) increase in demand  b) Expansion of demand. c)decrease in demand  d)contraction in demand
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) Ed=0 in case of.......

a)luxurious    b)normal goods.
c)necessities   d)comforts
4)when supply curve is upward sloping ,It's slop is  .. . .......
a)positive
b)negative
c) first positive then negative
d)zero
5)in India national income is estimated using.....
a)output method
b)income method
c)expenditure method
d)Combination of output & income method.

D) Give economic term.

1) A desire  which is backed  by willingness to purchase & ability to pay .......
2)Degree of responsiveness of quantity demanded to change in income only .
3)cost incurred on fixed factor.
4) The market where there are few sellers.
5)The point where demand and supply curve intersect.

Q.2- Identify & Explain the concept from the given illustrations. (Any 3)           6M
1)Shabana paid wages to workers in her factory & interest on her bank loan.
2)Nilesh purchased ornaments for his sister.
3)Vrinda receives monthly pension of Rs.5000/- from the state government.
4)Tina deposited a lumpsum amount of Rs.50,000/- in the bank for a period of one year.
5) India purchased petroleum from Iran.
B)Distinguish between (any-3)        6M
1) Desire and demand.
2)perfectly elastic demand and perfectly inelastic demand.
3)Stock and supply
4) Price Index and Quantity Index .
5)Public finance and private finance.

Q.3- Answer the following questions. (Any 3)       12M

1)Explain the features of Micro economics.

2)Explain the total outlay method of measuring elasticity of demand.
3)Explain the concept of total cost and total revenue.
5)Explain the features of Index numbers.

Q.4- State with reasons whether  you agree or disagree with the following statements.  (Any
3)                 12M
1)Micro economics uses slicing method.
2) Price is the only determinant of demand.
3) Index numbers are free from limitations.
4) Public finance is more elastic than private finance.
5) Trade is an engine of growth for an economy.

Q 5-Study the following table, figure, passage and answer the questions (any 2)      8M
1) observe the given table and answer the questions-

Unit of commodity   TU units    MU units

                1                        6                6
                2                       11               5
                3                       15               4
                4                       15               0
                5                       14               -1
1) Draw total utility curve and marginal utility curve .
2)a.When total utility is maximum, marginal utility is .......
b) When total utility fall ,marginal utility becomes......

2) observe the table and answer the questions-

      Table ?......

1) fill in the blanks in the above schedule

2) derive the equilibrium price from the above schedule with the help of suitable diagram.

3) observe the following table and answer the questions.

Table.....?

*About table shows direction of India's imports.

Questions-
1) which org. has the least share in the direction of India's imports in 2015-16?

2) which org. Has Maximum share in India's direction of imports in 1990-91?

3) Expand the abbreviations of OECD & OPEC.
4) State your opinion regarding the direction of India's imports.
5) How much is the percentage of increase in the imports of developing nations in 2015-16 as
compared to 1990-91?

Q.6 - Answer the detail. (any-2) (16)

1) Explain the law of diminishing Marginal Utility with exceptions.

2) Explain the practical difficulties involved in the measurement of national income.
3) Explain various reasons for the growth of Public expenditure.

                 * Best of luck *