Roll No. LI ] Answer Sheet No. af is aaa “ECONOMICS HSSC-I ‘SECTION (Marks 20) Time allowed: 25 Minutes: NOTE: Section-A is compulsory. All pats of this section are to be answered on the question paper itself. It should be completed in the first 25 minutes and handed over to the Centre Superintendent. Deletingloverwriting is not allowed. Do not use lead pencil 1.1 Circle the correct option ie. A/B/C /D. Each part carries one mark. (Economies isa science of A ‘Seatee resources: 8 Unlimited resources ©. Unlimited weath D. None of these (i). Witch ofthe following s an economic activity? A Watching TV B Riding abicycle ©. Saying of prayers D. Spending money en needs (iw) Inaitference curves (IC) are AL Negatively sloped 8 Convex © Concave D. Both Aand 8 (wv) Which ofthe folowing is a ciscontinuous variable? A Change in income 'B _Change in speed ©. Change in weather ©, Both Band () Which ofthe folowing goods has etascty of demand more than Unity ie. Ed > 1? A Salt B Ghee Car D. Flour (vi) How wil demand for Gin goods be affected due to fallin ts price? A” Qdwil increase Bd wildecrease © __Nochange in aa D. Infinite elastic demané (vi) ‘The supply curve of perishable goods is. A. Honzontl 8. Vertical” ©. Negative —«D.—Posiive (vi Winch s the equation of Supply? A Q-8Psi0-0 8. Q+3PH1=0 C. BothAandB 0, —_Noneofthese (o) When Marginal Uity (MU) becomes negatve. A TUincreases BTUs maximum © TU remans constant D. TUitends todecine (When price remains the same and supply increases, ts called A Expansion in supply 3. Rise in supply ©. Fallin supply D. Contraction in supply (00) firm witbe tn equilibrium when A MR=MC. B MRSC C, -MR1 CC Ed aT 0. Ed=0 (ix) Wages paid in cash form are known 2s. wages. A Real Nome Te Minimum 0. —_Adtional (4) Upto what an extent does Islam provide justification of profit? A Nolimits fixed 8 Proft taking is prohibited ©. reasonable and justified limit D. None ofthese For Examiner's use only: otal Marks: Marks Obtained:Roll No ‘Answer Sheet No. Sig. of Candidate 86. of Invigator beget onal Gaal gal 20:2 Jim lables 25: EOE eta Sipnlak Lvl Ihe Mita Beh Libbey etl in> ed Mets — o Uetangine > eet + a Be) eo Ai totee ae AbD LO sie SL Meena LN ee IBF HL Pies MF | da Giro 4 ei re ewrds ? Saint Bihan nd Atgatise” SH den ao Wie fade Mtn ons techabosules dhe oe ‘ iste Gine ae ed Pruletion daar thie WA LAE Senths é a aw ebelineniet «inlet gle inthe 2 segs a eolaieto aserio0 Hendin Pmhewnf a bntbeKewl Hilbert elie ie cee wie adntelhensiths jaairie eSeaudiom. haart List di os ener dLiMlhive tise 2 o eta Tin Saslossion poe aeoantie ~ uae HLF AEMSE otek ttiba ARE ane tke Gopuenbbin cle ian AEM o HB Ine 0 o w 0 ” ws ro) om o) ow bev evi oo adrECONOMICS HSSC-1 Time allowed: 2:35 Hours. ‘Total Marks Sections B and C: 80 'NOTE:. Anewer any fifteon parts from Section (a) one part from Section ‘B(b)' and any three questions from Section "© on the separately provided answer book. Use supplementary answer sheet ‘Sheet-B if required. Write your answers neatly and legibly. ‘SECTION — B (Marks 50) Q.2 a. Attempt any FIFTEEN parts. The answer to each part should not exceed 3 to Sines. (15 x 3= 45) ()_Whatis Scarcity? Give an example (Define Rational Consumer. (Define Lui (iv) Define Non-econemic wants. Also give two examples of Noneconomic wants, () Differentiate between Consumer-goods and Captal-goods. (i) Define Are slasticty of demand. Whe down the formula to measure it (vi) Witea short note on Micro-economics. (ui) When demand decreases less than supply, what wil be the effect on equilibrium price? Make @ graph. (%) Write down three imitations ofthe Law of Demand, (%) — Whatis Market equilbrium? How ist obtained? (%) Make a graph of supply curve wit the help ofthe following table Pe wo | 6 4 Qs 20 12 8 (ci) Find equilibrium price and quantity of demand and supply with the help of given equations: ad=20-P Qs=5+2P (aii) Whatis meant by Constant Parameter? Give any example from economics, (ev) Define the term Input. Also ive example. (iv) White briefly the characteristics of Indiference Curve (IC) (vi) What is meant by vertical movement of labour? Give any example. (xvi) Define Sole-proprietorstip. Give example. (vii) Define and explain any three external economies of scale. (Gx) Find Average Total Cost (ATC) and Marginal Cost (MC) with the help of given schedule: Units of output | o | 1 [2 [3 [4 [5s [6 [7 Fixed Gost (rc) | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 VariableCostqve) | 0 | 20 | 50 | 65 | 77 | 96 | 125 | 175 (0%) Define MR and AR. Draw MR and AR curves under monopoly. (ox) Define Proft. Write two kinds of prof b, Attempt any ONE part. (1x5=5) () Describe any tree types of Rent (i) Whatis the practical importance of the study ofelastty of demand”? SECTION ~ ¢ (Marks 30) Attompt any THREE questions. (3x10=30) @.3 Define and explain Law of Equal Marginal Utity with the help ofa schedule and graph, Q.4 Define lastly of demand, Use total expenditure method to measure elasticity of demand. .5 Define Monopoly. How is price and output ofa firm determined under monopoly? Explain withthe help of graph. @.6 Explain Ricardo's theory of RentFocal ual qi) calatles 80 premio AK £228 Hor tL Rips aig PB pm bghn di goauiLaw LO a AYE Ent ites el og Se eSiegd A Msheet2) 22176. 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