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Time : 3 hrs Economics Marks : 80

Q.1. A) Fill in the blanks with appropriate alternatives given in the brackets. 5
1) In case of close substitute the cross elasticity of demand is --------
( zero / positive / negative / more )
2) Labour is a -------- factor of production.
( Human / natural / manmade / free gift of nature )
3) There are ---------- method of measuring national income.
( one / two / three / four )
4) The law of diminishing marginal utility assumes ---------- commodity.
( homogeneous / heterogeneous / indivisible / differentiated )
5) --------- will have direct demand.
( chocolate / truck / taxi / land )
Q.1. B) match the following. 5
Group ‘A’ Group ‘B’
1) Demand a) Risk bearing
2) Entrepreneur b) Land
3) Demand drafts c) Labour
4) Defense expenditure d) Capital
5) Permanent factor of production e) Supply
6) f) Public expenditure
7) g) Bank money
h) Desire backed by ability & willingness to pay
Q.1. C) State whether the following statement are true or false. 6
1) Moral consideration has no place in utility.
2) Supply is a relative term.
3) Macro Economics theory is known as income theory.
4) Absolute monopoly can never exit.
5) Central bank is a banker’s bank.
6) Entrepreneur gets fixed reward.
Q.2. A) Define / Explain the following concept. (Any 3) 6
1) Composite demand 2) Natural Monopoly
3) Fixed Capital 4) Supply Curve
5) Limited legal tender money 6) Transfer Income.
Q.2. B) Give reason / explain the following statement. (Any 3) 6
1) An exceptional demand curve slope upward.
2) Supply is directly related to price.
3) Net export can be positive, negative or zero.
4) Fixed capital is durable capital.
5) Utility is the subjective concept.
6) It is difficult to avoid double counting.
Q.3. A) Distinguish between. (Any 3) 6
1) Saving and investment.
2) Demand curve and Supply curve.
3) Closed economy and Open economy.
4) Common money and Bank money.
5) Land and Capital.
6) Bank rate and Open market operation.
Q.3. B) Write short notes. (Any 2) 6
1) Quantitative credit control.
2) Concept of national income.
3) Scope of Micro Economics.
4) Agency functions of commercial bank.
Q.4. Answer any three of the following. 12
1) What are the determinants of market demand?
2) Explain Total Outlay Method of price elasticity of demand.
3) Explain meaning and features of Labour.
4) Explain the concept of Total output.
5) Explain Geometric method of measuring elasticity of Supply.
6) Define and compare Micro and Macro Economics.
Q.5. Do you agree with the following statement? Give reasons. (Any 3 ) 12
1) There are no exceptions to the Law of Supply.
2) The Law of diminishing marginal utility has no practical importance.
3) There are no limitations to the Micro Economics.
4) Perfect Competition is an idealistic market.
5) Land is the permanent factor of production.
6) Transfer Income is an included in a national Income.
Q.6. Answer in details. ( Any 2 ) 16
1) Explain subjective and objective factors determining consumption function.
2) What are the functions of an Entrepreneur?
3) Explain method of measuring Elasticity of Supply.
4) State and Explain the Law of Demand. What are the exceptions to this Law?


Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given in the bracket. 5
1) Micro Economics deals with -----------.
( an individual / society / nation / world economic )
2) The Law of equi- marginal utility is presented by ----------.
( Marshall / Pigou / Keynes / Adam smith )
3) Consumption expenditure can never be ------------.
( Positive / negative / zero / less than income )
4) When public expenditure is equal to public revenue the budget is called ----------.
( balanced / surplus / deficit / zero )
5)central Bank is a -----------.
( Profit making institution / Apex monetary institution / private owned Bank / Banker to people )
Q.1. B) Match the Following. 5
Group ‘A’ Group ‘B’
1) Prof. Boulding a) Exception to the Law of Demand
2) Negative utility b) Addition to total cost by one More unit of production
3) Giffen’s goods c) Marginal Revenue
4) Tea, sugar and milk d) Competitive demand
5) Marginal Cost e) Complementary demand
f) Substitute
g) Disutility
h) Definition of Micro Economics
Q.1. C) State whether the following statement are true or false. 5
1) Supply of durable goods is elastic.
2) Under perfect competition seller is rice maker.
3) Demand for Land is derived method.
4) National output is Macro Economics variable.
5) Saving can never be zero.
6) Investment depend upon interest.
Q.2. A) Define / explain the following concept. ( Any 3 ) 6
1) Economic Efficiency 2) Possession Utility
3) Law of demand 4) Stock
5) Circular flow of national income 6) Induced investment.
Q.2. B) Give reason / explain the following statement. ( Any 3 ) 6
1) All desires are demand.
2) Stock can never be more than supply.
3) Aggregate demand depends upon many factors.
4) Capital is a natural factor of production.
5) Current account is not suitable for Businessmen.
6) Investment expenditure depends upon rate of interest.
Q.3. A) Distinguish Between. ( any 3 ) 6
1) Commercial Bank and Central Bank.
2) Complementary demand and competitive demand.
3)Extension in supply and contraction in supply.
4) Income elasticity of demand and cross elasticity of demand.
5) Balanced Budget and surplus Budget.
6) Autonomous consumption and Induced consumption.
Q.3. B) Write short Notes. ( any 2 ) 6
1) Moral suasion.
2) Long term Loans.
3) Money of Account.
4) Average propensity to consume.
Q.4. Answer any three of the following. 12
1) Explain practical importance of the Law of diminishing marginal utility.
2) Explain factors determining elasticity of supply.
3) Explain the concept of total cost, Average cost and marginal cost.
4) What are the different types of monopoly?
5) What are the function of an Entrepreneur?
6) Explain subject matter of Macro Economics.
Q.5. Do you agree or disagree with the following statement? 12
1) There are no expectation to the Law of demand.
2) Total outlay method is one of the method of measuring elasticity of demand.
3) The backward slopping supply curve of labour shows an inverse relationship between supply of labour and wage rate.
4) Perfect competition means Pure competition.
5) All risk are insurable.
6) Macro Economics is a partial equilibrium analysis.
Q.6. Answer in details ( Any 2) 16
1) Explain the scope and subject matter of Macro Economics.
2) What are the different method of measuring national income?
3) Explain Keynes Psychological law of consumption.
4) What are the different types of money?


Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given In the bracket. 5
1) Marginal utility and total utility are ---------- at the initial stage.
( equal / unequal / different / zero )
2) When the price of petrol goes up, demand for car will ------------.
( rise / fall / not change / remain unchanged )
3) Indirect demand is also known as ------.
( derived / direct / composite / joint )
4) ---------- is a leader of organization.
( A capitalist / A consumer / a seller / An organizer )
5)Micro and Macro Economics approaches are ------------.
( competitive / alternative / substitutes / complementary )
Q.1. B) Match the following 5
Group ‘A’ Group ‘B’
1) Pen ink a) Vertical supply curve
2) Point method b) Real Capital
3) Perfectly inelastic supply c) Money Capital
4) Monopoly d) Abnormal Profit
5) Machinery e) Sunk Capital
f) Direct demand
g) Geometric Method
h) Joint demand
Q.1. C) State whether the following statement are true or False. 6
1) Micro Economics deals with allocation of resources.
2) The law f diminishing marginal utility explains economic behavior of rational consumer.
3) Law of demand is explained by Prof. Robbins.
4) Total Outlay is price multiplied by quantity.
5) Total Cost is the Total Expenditure incurred by a firm.
6) The demand curve of monopolistic competition market is horizontal.
Q.2. A) Define / explain the following concept. ( Any 3 ) 6
1) Slicing Method 2) Marginal propensity to consume
3) Barter System 4) Letter of credit
5) ATM Facility 6) Direct Tax
Q.2. B) Give reason / explain the following. ( Any 3 ) 6
1) The Cash Reserve Ratio affects the lending capacity of the bank.
2) Negative Marginal utility denotes more satisfaction.
3) Demand for factors of production is derived demand.
4) Concept of elasticity of demand helps trade union leaders.
5) Labour and labourer are inseperable.
6) Macro Economics is also known as income and employment theory.
Q.3. A) Distinguish Between. ( Any 3 ) 6
1) Perfectly elastic supply and Perfectly inelastic supply.
2) Increase in supply and Decrease in supply.
3) Simple Monopoly and Discriminating Monopoly.
4) Private Capital and Public Capital.
5) Common Money and Bank Money.
6) Production Cost and Selling Cost.
Q.3. B) Write short notes. ( Any 2 ) 6
1) Net Export.
2) Assumption of the law of diminishing marginal utility.
3) Importance of Elasticity of Demand.
4) Types of Investment.
Q.4. Answer any three of the following. 12
1) Explain subjective and objective factors influencing consumption function.
2) What are the limitation of Micro economics?
3) What is meant by insurable risk?
4) What are the main determinants of Aggregate Demand?
5) What are the features of Micro Economics?
6) What are the difficulties of estimation of national income?
Q.5. Do you agree with the following statement? Give reason. ( Any 3 ) 12
1) Under perfect competition market price is determine by the forces of demand and supply.
2) There are no limitation to the law of diminishing marginal utility.
3) Level of income is the only determinant consumption function.
4) There is no difference between monopoly and monopolistic competition.
5) Income is the only determinant of price elasticity of demand.
6) Risk bearing is the only function of an entrepreneur.
Q.6. Answer in details. ( Any 2 ) 16
1) What are the types of price elasticity of supply?
2) Explain the concept of consumption function.
3) Money plays an important role in the modern economics.
4) Explain the function of Commercial Bank.


Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with the appropriate alternatives given in the brackets. 5
1) Economics is a ---------- science.
( Natural / Social / Anthropology / Political )
2) Labour is --------- .
( Imperishable / perishable / convertible / non-convertible )
3) The nature of the market of barter system is --------.
( Wide / limited / personal / social )
4) There is lack of -------- in monopoly.
( Consumers / competition / seller / people )
5)------ has monopoly to issue the currency notes.
( Commercial Bank / Central Bank / Co-operative Bank / Rural Bank )
Q.1. B) Match the following. 5
Group ‘A’ Group ‘B’
1) Cardinal Measurement a) Inverse relationship
2) Demand and Price b) Inelastic Demand
3) Necessaries c) Horizontal supply curve
4) Perfectly inelastic supply d) Average cost
5) TC/TQ e) Marginal Cost
f) Fisher
g) Marshall
h) J. M. Keynes
Q.1. C) State whether the following statement are True / False. 6
1) Micro economics assume full employment.
2) Macro Economics theory suggest to policies to solve the problem of inflation.
3) Utility is the basis of demand.
4) When demand increases the demand curve shift to the left.
5) Demand for luxuries is elastic.
6) Geometric method is also known as point method.
Q.2. A) Define or Explain the following concept. (Any 3 ) 6
1) Marginal Cost 2) Average Revenue
3) equilibrium price 4) General equilibrium.
5) Depreciation. 6) Token coins.
Q.2. B) Give reason / explain. ( Any 3 ) 6
1) Utility and happiness are different.
2) Demand curve slopes downward from left to right.
3) Supply of agriculture commodities is relative inelastic.
4) A monopolist can control supply of goods.
5) The supply of land is inelastic.
6) Income from second hand sell is excluded from national income.
Q.3. A) Distinguish Between ( Any 3 ) 6
1)Relative less elastic supply and Relative more elastic supply.
2) National income at market price and National income at factors price.
3) Quantitative credit measure and Qualitative credit measure.
4) Current A/c and Saving A/c.
5) Paper money and Metalic money.
6) Consumption and Saving.
Q.3. B) Write Short Notes. ( Any 2 ) 6
1) E-Banking facility
2) Types of supply.
3) Variation in demand and Change in demand.
4) Types of monopoly.
Q.4. Answer any three of the following. 12
1) What are the types of consumption?
2) What are the types of investment?
3) What are the types of money?
4) Explain the subject matter of Macro Economics.
5) Explain Ratio method of measuring price elasticity of demand.
6) What are the assumption of marshalliun utility analysis?
Q.5. State with reason whether you agree or disagree with the following statement. ( any 3 ) 12
1) Barter system did not have any difficulties.
2) Saving are negative before break even point.
3) The law of demand depends upon many assumption.
4) Macro economics is different from Micro economics
5) Accepting deposit is the only primary function of Commercial bank
6) When Marginal utility is zero Total utility is highest.
Q.6. Answer in Details. ( Any 2 ) 16
1) What is Perfect Competition? State it’s features.
2) What are the types of income elasticity of demand?
3) State and explain the law of equi-marginal utility.
4) What are the types of piece elasticity of Supply?
Time : 3hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given in the bracket. 5
1) The law of demand state ------ relation between demand and price.
( Direct / total / inverse / positive )
2) Demand for salt is-------.
( elastic / inelastic / perfectly elastic / unitary elastic )
3) ------- is one of the determinants of supply.
( consumption / investment / natural recourses / saving )
4) The part of income not spend is --------
( Saving / consumption / investment / capital )
5)Commercial banks create ---------
( Paper money / metallic money / commodity money / credit money )
Q.1. B) Match the following. 5
Group ‘A’ Group ‘B’
Perfect competition Captain of Industry
Micro Economics Price discrimination
Entrepreneur Homogeneous product
Money Smallest unit
Central Bank Largest unit
Lender of last resort
Medium of exchange
Pure competition
Q.1. C) State whether the following statement are true / false. 6
1) Marginal utility increases with increase in consumption.
2) In deficit budget, expenditure is more than income.
3) Demand for perishable goods is elastic.
4) Commercial Bank play an important role in economic development.
5) Saving increases with increase in income.
6) Commercial Bank is non-profit making organization.
Q.2. A) Define or explain the following concept. ( Any 3 ) 6
1) Bank rate 2) Macro economic variable.
3) Recurring deposit A/c 4) Balanced Budget
5) Unitary elastic demand 6) Market
Q.2. B) Give reason or explain the following statement. ( any 3 ) 6
1) Utility means satisfaction.
2) Inferior goods are exceptional to the law of demand.
3) In the case of unrelated goods cross elasticity of demand is zero.
4) All Capital goods are durable.
5) There is difference between labour and entrepreneur.
6) Income from illegal activities can be easily included in national income.
Q.3. A) Distinguish between. ( Any 3 ) 6
1) Demand and Supply.
2) Consumption expenditure and Investment expenditure.
3) Metallic money and Paper money.
4) Fixed capital and Fluctuating capital.
5) Income method and expenditure method.
6) Natural monopoly and legal monopoly.
Q.3. B) Write short notes. ( Any 2 ) 6
1) Revenue expenditure.
2) Aggregate Demand.
3) Primary function of Commercial Bank.
4) Scope of Micro Economics.
Q.4. Answer any three of the following. 12
1) Explain objective factors determining consumption function.
2) Explain secondary function of money.
3) Explain output function of measuring National Income.
4) Explain features of Micro economics.
5) Explain features of capital.
6) Explain the concept of saving function.
Q.5. Do you agree with the following sentence? Give reason. ( Any 3 ) 12
1) Central Bank work as Government Bank.
2) Marginal Utility and Total utility is the same.
3) Perfect competition means Monopolistic competition.
4) Commercial Bank perform many useful function for the people.
5) The supply curve downward from Left to right.
6) Market supply depends upon various factors.
Q.6. Answer in details. ( Any 2 ) 16
1) What are the function of Commercial Bank?
2) Explain Qualitative / selective method of credit control use by the Central Bank.
3) Explain the law of supply with assumption.
4) What are the exception to the law of supply?


Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given in the bracket. 5
1) Micro Economics does not deals with ---------.
( Price theory / factor pricing / welfare / Income theory )
2) --------- depends upon intensity of Want.
( Utility / Demand / Price / Supply )
3) --------- Utility is the point of maximum satisfaction.
( zero / negative / highest / maximum )
4) When less is demanded at the same price it is called -------.
( increase in demand / decrease in demand / extension in demand / contraction in demand )
5)Single seller is the features of --------.
( Monopoly / perfect competition / pure competition / monopolistic competition )
Q.1. B) Match the following. 5
Group ‘A’ Group ‘B’
1) Railway a) Electricity
2) Perfect competition b) Macro economics
3) Flopping capital c) Partial equilibrium
4) Prof. J.J. Hansen d) Pure competition
5) Micro Economics e) Risk theory of profit
f) Private monopoly
g) Normal profit
h) Public monopoly
Q.1. C) State whether the following statement are true or false. 6
1) increase in national income is micro economic goal.
2) GDP includes net income from abroad.
3) The equality between aggregate demand and aggregate supply determines the equilibrium level of employment.
4) Money facilitates estimation of national income.
5) Overdraft facility is provided to the current account holder.
6) Bank rate is the selective credit control measure used by the central bank.
Q.2. A) Define or explain the following concept. ( Any 3) 6
1) Prof. Samuelson’s definition of Central Bank 2) Repo Rate
3) Cash credit 4) Near money
5) Dissaving 6) Final goods.
Q.2. B) Give reason or explain. ( Any 3 ) 6
1) Central bank works for a profit.
2) Macro economics studies single unit.
3) During the period of inflation surplus budget is advisable.
4) saving bank A/c are usually open by salaried class.
5) Any commodity can not act as a money.
6) Saving may be used in future for unforeseen.
Q.3. A) Distinguish between. ( Any 3 ) 6
1) Labour and Entrepreneur.
2) Slicing method and Lumping method.
3) Inferior goods and Normal Goods.
4) Export and Imports.
5) Direct Tax and Indirect Tax.
6) call loans and term loans.
Q.3. B) Write short notes. ( Any 3 ) 6
1) Historical review of micro economics.
2) Subject matter of Micro Economics.
3) Form Utility.
4) Geometric Method of measuring elasticity of demand.
Q.4. Answer the following question ( Any 3 ) 12
1) What is public expenditure?
2) What are the difficulties of estimating national income.
3) What are the different types of factors of production?
4) Explain the concept of foreign demand.
5) Explain general utility function of Commercial Bank.
6) What are the features of pure competition?
Q.5. Do you agree with the following statement? Give reason. ( Any 3 ) 12
1) The measurement of national income depends upon macro economics.
2) Central Bank has control on credit.
3) What are the different types of factor of production?
4) Explain the concept of foreign demand.
5) Explain general utility function of Commercial Bank.
6) What are the features of pure competition?
Q.6. Answer in details. ( Any 2 ) 16
1) What is meant by supply? State its determinant?
2) Explain types of price elasticity of supply.
3) Explain total outlay method of measuring national income.
4) Explain the process of multiple expansion of credit by Commercial Bank.

Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given in the bracket. 5
1) The word Micro Economics is derived from the -------- word.
( Greek / Indian / American / Latin )
2) --------Bank work as a leader of the last resort for commercial bank.
( Central Bank / State Bank / Indian Bank / Bank of India )
3) -------- is an example of variable capital.
( Equipment / Ship / Power / Bridge )
4) Public Budget is a ------- Economic concept.
( Micro / Macro / Partial / General )
5) Transport Service create -------- utility.
( Place / Time / Service / Possession )
Q.1. B) Match the following. 5
Group ‘A’ Group ‘B’
1) Zero cross elasticity of demand a) Aggregate of individual supply
2) Market Supply b) Central Bank
3) Giving Loan c) Profit Motive
4) Bank Rate d) Positive elasticity
5) Private Monopoly e) Secondary function
f) Public monopoly
g) Primary function of commercial bank
h) Not related goods
Q.1. C) State whether the following statement are true or false. 6
1) In monopoly price discrimination is not possible.
2) Token coins are full bodied coins.
3) Perfect competition is an idealistic market.
4) Central bank does not create credit.
5) Every loan creates deposit.
6) Normal demand curve slopes upward. 6
Q.2. A) Define / Explain the following concept. ( Any 3 )
1) National Income 2) bank Cheque.
3) Equilibrium price. 4) Aggregate demand.
5) Working / variable capital 6) Monopolistic competition.
Q.2. B) Give reason / explain the following statements ( Any 3 ) 6
1) When supply increase both price and quantity will increase.
2) Selling cost is necessary under perfect competition.
3) Saving can never be zero.
4) National income means personal income.
5) demand is a relative term.
6) supply curve slope upward.
Q.3. A) Distinguish between. ( Any 3 ) 6
1) Extensions of supply and increase in supply.
2) Price elasticity of demand and Income elasticity of demand.
3) Form utility and Time utility.
4) Land and labour.
5) Autonomous consumption and Induced consumption.
6) Public revenue and Public expenditure.
Q.3. B) Write short notes. ( Any 3 ) 6
1) Backward bending supply curve of labour.
2) Concept of price elasticity of demand.
3) Qualities of an entrepreneur.
4) Quantitative credit control tools of Central Bank.
Q.4. Answer any three of the following. 12
1) Explain Secondary function of commercial bank.
2) Explain importance of Micro Economics.
3) Explain secondary function of money.
4) There is no difference between Land and Capital.
5) What are the features f monopoly.
6) What are the features of Capital.
Q.5. State whether you agree or disagree with reason. ( Any 3 ) 12
1) Elasticity of supply depends upon many factors.
2) Pocket money received by a student should not be included in national income.
3) The rate of interest is the only determinants of saving.
4) When marginal utility is zero total utility is also zero.
5) Money is the medium of exchange.
6) Margin requirement determines the volume of loan.
Q.6. Answer in details. ( Any 2 ) 16
1) What are the different method of measuring national income.
2) Explain the concept of effective demand.
3) Explain the process of multiple expansion of credit by commercial bank.
4) what are the exception to the law of diminishing marginal uitility.


Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given in the bracket. 5
1) The law of equi -marginal utility is based on the law of--------
( Demand / supply / variable returns / diminishing marginal utility )
2) All consumers goods have -------- demand..
( Direct / indirect / derived / composite )
3) When responsiveness of change in quantity supplied to given change in price is zero, it is -------
( Perfect inelastic / unitary elastic / more elastic / less elastic )
4) Stock is a ------- supply.
( potential / current / past / flow of )
5)The concept of monopolistic competition was introduced by --------
( Prof. E.H. Chamberlin / Adam smith / Marshall / Samuelson )
Q.1. B) Match the following. 5
Group ‘A’ Group ‘B’
1) Public monopoly a) Innovation theory of profit
2) Passive factor of production b) Macro Economics
3) Prof. Schumpeter c) Definition of Economics
4) Lumping Method d) Supply
5) Prof. Fishes e) Demand
f) Definition of Labour
g) Land
h) Indian Railways
Q.1. C) State whether the following statement are true or false. 6
1) National income is a Micro Economics concept.
2) Effective demand is determined by aggregate supply only.
3) Metallic coins are portable.
4) Commercial Bank is non profit making institution.
5) Bank of India is central Bank of our country.
6) Bank rate is a quantitative credit control tool.
Q.2. A) define / explain the following concept. ( Any 3 ) 6
1) Credit Rationing 2)Tax Revenue.
3) Safe deposit vault 4) Money of Account
5) Marginal propensity to save 6) Gross Investment.
Q.2. B) Give reason / explain the following statement ( Any 3 ) 6
1) utility means usefulness.
2) Demand curve is downward slopping from left to right.
3) There is single price in perfect competition.
4) Net National income is less than gross national income.
5) The study of whole economy is done in the macro economics.
6) The difficulties of barter system have removed by money.
Q.3. A) Distinguish between (Any 3) 6
1) Legal money and Credit money.
2) Joint demand and Composite demand.
3) Direct taxes and Indirect taxes.
4) Bank rate and Interest rate.
5) Percentage method and Total outlay method.
6) Marginal utility and Total utility.
Q.3 B) Write short notes (Any 3 ) 6
1) Function of an entrepreneur.
2) Individual demand Schedule.
3) Giffen’s paradox.
4) Types of Bank Deposit.
Q.4. Answer any three of the following. 12
1) What is metallic money.
2) Explain the income method of measuring national income.
3) What are the components of government budget.?
4) Explain general utility function of commercial Bank.
5) What are the exception to the law f diminishing marginal utility?
6) Explain feature of pure competition.
Q.5. State with reason whether you agree or disagree with the following statement (Any 3) 12
1) central Bank is the bank of issue.
2) A commercial Bank can create credit on the basis of primary deposit.
3) Anything can function of money.
4) Saving are positive before breakeven point.
5) There are no difficulties of estimating national income.
6) the scope of macro economics is narrow.
Q.6. Answer in details. ( Any 2 ) 16
1) Explain the scope and subject matter of Micro Economics.
2) Explain different types of monopoly.
3) Explain factors determining elasticity of supply.
4) State and explain the law of demand.

Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given in the bracket. 5
1) ----------- studies about national income.
( Micro economics / macro economics / statistic / Physics )
2) In -------- market seller create product differentiation.
( Competition / perfect / pure / monopolistic )
3) To control inflation there is need of ----- bank.
( central / commercial; / local / foreign )
4) Bank cheque is a ------- money.
( legal tender / optional / paper money / token )
5)----- is desire backed by ability and willingness to pay.
( demand / supply / stock / utility )
Q.1 B) Match the following 5
Group ‘A’ Group ‘B’
1) Demand of electricity a) Natural Resources
2) Aggregate supply b) Income consumption
3) Saving c) Balanced Budget
4) Credit creation d) Surplus Budget
5) Adam smith e) Commercial Bank
f) Composite demand
g) Central Bank
h) Investment
Q.1. C) State whether the following statement are true or false. 6
1) Utility and usefulness are not same.
2) Total revenue means average Revenue.
3) Normal Supply curve slope upward.
4) In monopoly there is price discrimination.
5) All Desire are demand.
Q.2. A) Define / Explain the following Concepts ( Any 3 ) 6
1) Travelers cheques 2) Fixed deposit
3) Public monopoly 4) Bank Rate
5) Gross Domestic Product 6) Government demand
Q.2. B) Give Reason / explain the following statement (Any 3) 6
1) Land is a perishable factor of production.
2) Entrepreneur is a captain of the firm.
3) Central bank can control credit.
4) Macro Economics deals with aggregate economic behavior.
5) Beggars desire for car is demand.
6) Unpaid service are included in national income.
Q.3. A) Distinguish Between (Any 3) 6
1) Capital and Interest.
2) Output method and Expenditure method.
3) Monopoly and Monopolistic competition.
4) Balanced budget and Surplus Budget.
5) Increase in supply and Decrease in supply.
6) Fixed deposit A/c and Recurring Deposit A/c.
Q.3. B) Write short notes (Any 3) 6
1) Market demand scheduled.
2) Features of micro Economics.
3) capital Budget.
4) clearing house function
Q.4. answer any three of the following. 12
1) What are the primary function of money?
2) What are the different types of money?
3) explain importance of Micro Economics.
4) Explain factors determining elasticity of supply.
5) what are the features or monopolistic competition.
6) Define labour and state features of labour.
Q.5. Do you agree with the following statement? Give reason (Any 3) 12
1) Balanced budget is the only type of government budget.
2) Supply curve of labour slopes upward.
3) micro Economics theory is based on many assumption.
4) Central Bank have various instrument of credit control.
5) At Break even point saving is zero.
6) There are many exception to the law of demand.
Q.6. Answer in details. (Any 3 ) 16
1) Explain the process of multiple expansion of credit by commercial bank.
2) State features of monopolistic competition.
3) State and explains the law of equi marginal utility.
4) Explain subject matter of macro Economics.

Time : 3 hrs Economics Marks : 80
Q.1. A) Fill in the blanks with appropriate alternatives given in the bracket. 5
1) Blood donation has -------- utility.
( place / time / knowledge / form )
2) When less is purchased at the constant price it is called ------- in demand.
( increase / decrease / expansion / contraction )
3) Total Revenue / number of units sold = -----------
( Average revenue / Average cost / marginal cost / Total Cost )
4) -------- is regarded as primary factor of production.
( Land / labour / capital / entrepreneur )
5)The credit for the development of Macro economics goes to ----------
( Dr. Marshall / Prof. Pigou / Lord Keynes / Mrs. John Robinson )
Q.1. B) Match the following. 5
Group ‘A’ Group ‘ B’
1) Deposable income a) Destruction of utility
2) Consumption b) Personal income
3) Demat A/c c) Difficulty of barter system
4) Clearing house system d) Trading in shares
5) Plan expenditure e) Private expenditure
f) Govt. expenditure
g) Capital
h) Central Bank
Q.1. C) State whether the following statement is true or false. 6
1) Price theory is base of micro economics analysis.
2)Demand curve has a positive slope.
3) Demand for a commodity depends upon various factors.
4) Salt has elastic demand.
5)Macro economics depends upon many assumption.
6) price discrimination is impossible in monopoly.
Q.2. A) Define or explain the following concept. ( Any 3 ) 6
1) Demand schedule 2) National income
3) Average propensity to save. 4) Overdraft
5) Lender of the last resort. 6) Deficit budget
Q.2. B) Give reason and explain the following concept. ( any 3 ) 6
1) The concept of elasticity of demand is useful in economic theory
2) perfect competition means pure competition.
3) Macro economic study whole economics.
4) The govt. budget is for unlimited period.
5) Autonomous consumption expenditure can never be zero.
6) Commercial Bank can not give interest on deposit.
Q.3. A) distinguish between ( any 3 ) 6
1) Income method and Expenditure Method
2) marginal propensity to consume and Average propensity to consume.
3) Current deposit and Recurring deposit.
4) Balance Budget and Surplus budget.
5) Average Cost and Average revenue.
6) Bank rate and Open market operation.
Q.3. B) Writ short notes. ( any 2 )
1) Types of consumption.
2) Types of Investment.
3) Types of money.
4) Importance of Micro economics.
Q.4. Answer any three of the following question. 12
1) What are the determinants of saving function?
2) What are the secondary function of money?
3) What re the components of govt. budget?
4) What are the assumption of law of demand?
5) What are the limitation of the multiple expansion of money?
6) what are the different types of Bank cheque?
Q.5. State with reason whether do you agree or disagree with the following statement. ( Any 3 ) 12
1) The law of diminishing marginal utility depends upon various assumption.
2) Macro economics is different from Micro economics.
3) The central bank has control over credit creation.
4) Aggregate supply depends upon various factors.
5) There are many difficulties in measuring of national income.
6) There are no exception to the law of demand.
Q.6. Answer in details. ( Any 2 ) 16
1) Explain the law of demand and it’s various assumption.
2) Explain the law of supply and it’s assumption.
3) Explain different sources of revenue under govt. budget.
4) What are the features of monopoly?