SRI VIDYANIKETHAN PU COLLEGE

II PUC
PREPARATORY EXAMINATION
ECONOMICS

TIME: 3 HOURS MAX MARKS: 100

I CHOOSE THE CORRECT THE ANSWER ( Any 5) 1X5 =5

1. The scarce resources of an economy have

a. Competing usages
b. Unlimited usages
c. Single usage
d. None of the above
2. The equation of budget line is
a. PX+P1X1
b. P1X1+P2X2=M
c. M =P0X0+PX
d. Y=MX+C
3. TC =
a. TFC
b. TVC
c. AC+MC
d. TFC+TVC
4. The Individuals or institutions which take economic decisions are
a. Economic Variables
b. Economists
c. Economic agents
d. Revenue receipt
5. Consumption which is independent of income is
a. Induced consumption
b. Autonomous Consumption
c. Wasteful consumption
d. Past consumption
II FILL IN THE BLANKS (Any 5) 1X5 = 5
1. The demand for a good move in the _____ direction of its price
2. _____is defined as the output per unit of variable input.
3. In Monopoly Market, the goods which is sold have no ______
4. ______ issues coins in India
5. Taxes imposed on goods imported and exported out of India are called _________

III MATCH THE FOLLOWING 1X5 =5

1. Centrally Planned Economy a. Zero Profits
2. Normal Profit b. Intermediate goods
3.Adam smith c. Government
4. Raw materials d. Paper Gold
5. SDR e. Operation of invisible hands

IV ANSWER THE FOLLOWING IN ONE SENTENCE (ANY 5) 1x5=5

1. What is price ceiling?
2. Meaning of Super normal profit?
3. What is monopoly?
4. What is depreciation?
5. What are public goods?
6. Who are free riders?
V ANSWER THE FOLLOWING IN 2 OR 3 SENTENCES(Any 10) 2X10 =20
1. What do you mean by inferior goods give example
2. State the law of demand
3. Give the meaning of the concept of short-run & long- run
4. Give the meaning of price elasticity of supply & write the formula
5. Define equilibrium price & quantity
6. Meaning of Monopolistic competition & give example
7. What is the difference between consumer goods & capital goods
8. Write the difference between nominal & real GDP
9. Mention the 2 motives of Demand of Money
10. Whare the factors which cause change in Aggregate demand
11. What is Foreign exchange rate
VI ANSWER IN 6 TO 8 SENTENCES ( ANY 7) 5X7 =35
1. Distinguish between positive & normative economics
2. Note on Returns of scale
3. Difference between Total utility & marginal utility
4. Explain Iso quant with diagram
5. Features of perfect competition
6. Functions of RBI
7. Note on externalities
8. Components of Current Account
VII ANSWER THE FOLLOWING (any 3) 5X3=15
1. Note on Balance of payment

2. Suppose the demand & supply curves of Wheat are given by qd = 200-p &
qs=120+P find
a. Find the equilibrium price
b. Find the equilibrium quantity of demand & supply
c. Find the quantity of demand & supply when P> equilibrium price
d. Find the quantity of demand & supply when P< equilibrium price
3. Explain how the firms behave in oligopoly
4. Functions of Money.
VIII Answer any 2 5X2 =10
5. Prepare a budget on the monthly income & expenditure of your family

6. Name the currencies of any five countries

 USA, UK, Germany, Japan, China, Bangladesh

7. Calculate TR & MR from the following table

Q 1 2 3 4 5 6 7 8 9 10
P 100 90 80 70 60 50 40 30 20 10