1.

At the break-even point for a firm: [1]

a. TR = TC
b. TR > TC
c. TR < TC
d. TR = Zero
2. The demand curve of a firm would be a horizontal straight line under [1]
a. Perfect competition
b. Monopoly
c. Oligopoly
d. Monopolistic competition
3. Define oligopoly. [1]
4. Why does the Indian government believe in fixing the ‘support price’ for crops? Give
reason.
5.. What is meant by marginal cost? [1]
6.If Total Variable Cost and Total Fixed Cost of producing 10 units are 500 & 200, the value of
average cost would be?
a) 50 b) 70
c) 20 d) 80
7. Which of the following would be substitute goods?
(a) Bread and butter
(b) Car and petrol
(c) Tea and coffee
(d) All of the above
8. Budget line is:
(a) Parallel to X – axis
(b) Parallel to Y-axis
(c) Downward sloping line
(d) None of the above.
9. If price of goods-X rises and this leads to decrease in demand for goods-Y, how are the two
goods related?
10. Total utility is maximum when MU is:
(a) positive
(b) Zero
(c) Negative
(d) None of the above.
11If eight workers earn the following income—30, 36, 34, 20, 42, 46, 54, 62, then the
arithmetic mean will be [1]
a. 40.5
b. 65
c. 54
d. 72
12.define mode
13.If every class interval excludes items relevant to its upper limit in a series, then it is
called ________________. [1]
a. Inclusive series
b. Exclusive series
c. Both a and b
d. None of the above
14What does ‘0’ indicate in price index Po1?
(a) Base year (b) Current year
(c) Last year (d) All of the above
15The sum of deviation of items from mean is always zero, (true/false)
(1)
16.Degree of correlation between +0.25 and +0.75 is (1)
(a) Perfect positive (b) Moderate positive
(c) Highly positive (d) Low positive
17Which of the following is not a positional value? (1)
(a) Median (b) Quartile
(c) Deciles (d) Mode
18Find the correct option from the following. (1)
(a) Made = 3 medain – 2 mean
(b) Mode = 2 median – 3 mean
(c) median = 3 mode – 2 mean
(d) Mean = 3 median – 2 mode
19.what is cluster sampling?
20. What is the graphical measure available to measure of dispersion.
(1)
(a) Frequency polygon (b) Histogram
(c) Ogive curve (d) Lorenz curve

a. What is meant by production possibility curve?

b. What is the slope of PPC? What does it indicate? Why is PPC concave to the origin?
[4]
11.Explain the following terms: [6]
a. Break-even point
b. Shut-down point
12. Explain the implications of the following features of perfect competition: [6]
a. Large number of buyers and sellers
b. Homogeneous products