SKY EDUCATION

Subject : Economics Marks: 80

Q.1.A. Choose Correct Option:. (5)

1. These are the various types of Demand.
a)Direct Demand. b)Derived Demand. c) Composite demand. d)Joint Demand
Options: 1) a, c and d. 2)a,b and d. 3)a,b and c. 4) a,b,c and d
2. National Income is a composite measure of:
a) Production. b) Exchange. c) Distribution. d) Consumption
Options: 1) a and d. 2)a,b,c and d. 3) a,c and d. 4) b and c.
3. These are exceptions to the law of Supply.
a) Agricultural goods. b) Supply of labour. c) Rare goods. d) Perishable goods
Options: 1)all of above. 2) a,b and d. 3)b,c and d. 4)a,b, and c
4. Money Market in India are located at:
a)Mumbai. b)Delhi. c)Pune d) Kolkata
Options: 1) a and b 2)a,b and d. 3) b and d. 4)a,c and d
5. Method adopted in micro economic analysis.
a) Lumping method b)Aggregative method c) Slicing method d) Inclusive method
Options :1) a, c and d 2) a, b and d 3) only c 4) only a

Q.1.B. Find the Odd word out: (5)

1. Financial Assets: Bonds, Land, Govt.Securities, Derivatives.
2. Transfer payments: Grants, Wages, Old age pensions, Scholarship
3. Fixed Cost, Variable Cost, Marginal Cost, Marginal Revenue
4. Legal monopoly: Patent, OPEC, Copyright, Trademark
5. India's export items: Gold, Steel, Fertilizer, Jewellery.

Q.1.C. Suggest an economic term for the given statements: (5)

1. The assumption to the law of DMU violated in case of a miser.
2. The wear and tear of capital assets.
3. The point where demand and supply curve intersect.
4. The Greek word which means small or a millionth part.
5. Aggregate collection of income with the government through various sources.

Q.1.D. Complete Correlations: (5)

1. Pen and Ink : ______________ : : Tea and Coffee : __________.
2. Theoretical difficulty : Transfer Payments : : __________ : Valuation of Inventories.
3. ____________ : Single variable : : Composite index : Group of variable.
4. Micro-economics : Slicing Method : : Macro-economics : _____________.
5. Primary Market : __________ : : Secondary Market : Old issues.

Q.2.A. Identify and explain the concepts from the given illustrations: (Any 3/6): (6)
1. Shobha collected data regarding the money value of all final goods and services produced in the country for the financial
year 2018-2019.
2. Gauri collected the information about the income of a particular firm.

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2. Observe the given diagram and Answer the following questions :

1. Rigthward shift in demand curve ____________.

2. Leftward shift in demand curve ____________.
3. Price Remains __________.
4. Increase and Decrease in Demand comes under ______________.

3. Calculate Value Index number from the given data :

Commodity Base Year Current Year
Price Quantity Price Quantity
A 40 15 70 20
B 10 12 60 22
C 50 10 90 18
D 20 14 100 16
E 30 13 40 15

Q.6. Answer in Detail: (Any 2/3): (16)

1. Explain types of Price Elasticity of Demand.
2. Explain the functions of RBI.
3. State and explain the law of Demand with its Exceptions.

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