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    © All Rights Reserved
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    11 views7 pages

    ECONOMICS December 2023

    Uploaded by

    Vihaan J

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
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    arses Monje Educational Trust's © comactusainsacin JAMNABAI NARSEE SCHOOL Narsce Moje Bhavan, Nase Magee Mag. Kot 2260157575 6915 7578 NSvoad no 7.¥D. Scheme ee ie Pade (W), Mumba 400 O49, inca, FIRST PRELIMINARY EXAMINATION 2023 ECONOMICS ene mR ‘Time: 3 hrs. f Marks: @0 Date: 04.12.'23 Answer all questions in Section A consists of objecti The intended Question 1 ni 5 ’ (a) without expect (b) me lower level itisfaction from the commodity. (©) ie, commodityfonly if he does not have to pay any price for it. 1¢ the commodity in spite of not paying any price for it. (ii) Which of the following statemei (1) (a) Giffen goods have positive (>) Marginal Utility curve and Demand curve have identical slope. (©) With a fall in price, when demanid rises, it is known as Extension of Demand. With a rise in price, when demand falls it is known as Decrease in Demand. Incase there is an improvement inthe technique of production of goods, then how will it 1) affect Supply and Equilibrium Price? (a) Supply will increase and equilibrium price will fall. (b) Supply will decrease and equilibrium price will rise. (©) Noeffect on Supply and equilibrium price, (@) Demand of the goods will decrease, (iii) Ao ——--— ven 10 (¥) Uf the per unit cost of production will be lower when 20 units are produced than 10 (y nits are produced in the short-run, it means bulk production is at a cheaper rate, Select the most appropriate answer for the above: (3) Increasing returns to a factor (b) Diminishing returns to s factor (©) Negative retums to a factor (3) Positive returns to a factor (©) Than ABC Lid, a firm under imperfect competi C Fevenue increases in the heginning. then (a) Average Revenue will be greater than Mjfginal Revenue. () Total Revenue will be equal to Margi (©) Average Revenue will be equal tp M: (4) Total Revenue will be equal (Vi) Assertion (A): There is a direct Fetat Marginal Propensity to Consume, Reason (R): One man’s income is another m @ Both Assertion and Reason are true, Assertion, (vii) (viii) ABC Ltd. in India receives » , Will this transaction be recorded? (8) Credit side of Current t (6) Debit side of Current Account. (©) Credit side of Capital Acco (®) Debit side of Capita . ity his current ape tt Seton of 10.00.000 The bank oper oe it Bank of Bard ‘Keyur wherein hes rps bank opens one new account . whenever he requires. The bank (ka metho Kee ay ete : 2 eee» when the firm's total oan that the bank has offered ay ti (a) Outright Loans and Advances. (b) Overdraft Facilities. (©) Discounting Bills of Exchange, (d) Cash Credit. $9) Zara Ltd. is one of the few sellers producing automobile parts and hence it dominates the [1] market. But the demand curve of the firm keeps on shifting in spite of it having large number of buyers. Give reason for the indefinite demand curve of the firm. (xi) Identify the type of Cross Elasticity of Demand betwee ike and Air Conditioner. Justify [1] your answer, y (xii) Draw the supply curve of perishable goods in od. 1 (sii) Find Personal Disposable Income fig a (xiv) Money acts as a yardstick in the distriO® a (x*) Calculate MPC and MPS from the following dat ty (xvi) i Question 2 (4) (@) Raman is working in a shoe 0 ‘48 a support staff. His income was not sufficient ‘o fulfil the expenses of his family in so he took up an overtime Job of a night security guard in a residential society. After few months, his company promoted him, as a result, Maen i inreased and ths Wave up his job of a security guard, @ supply curve baséd on the i ttoaupply above case. Give reason for the shape of Gi) Distinguish between Veblen goods and Veblen effect as exceptions to law of demand. Question 3 Whil ie : Gite tins National Income, how ate final goods and pe Gy AS a result of an increase in. “ iocal ty SOF Gc IfMPC%s075,eeulne the ec i 3 change in investmenn, @ Ramlal is a wholesaler. He sells agricultural products ata fs “ee o ‘0? government. Ramlal wants to clear his stock quickly. Will he ” the Question 4 alsted price fixed OY q your answer. Gi) Complete the following Table if Yotal Fixed Cost is € 90. Total Cost ia Average Total Cost (2) Unit of Output | Marginal Cost (2) 7 10 2 20 3 15 = —_ aro 5 oced's Mal ‘mini talcum powder on every has (i) Why should level of output where the 2 the Marginal Cost of the wo “ABs Th tVByfirm. The firm is at equilibrium, but its equilibrium [4] Question 6 {4 F u ti¢fCompetition is more elastic than the demand the statement with the help of a diagram, Gi) Mint Co. isa perfect competitiveifirm and the Marginal Cost of its product is equal to its Average Cost. Diagrammaticalljexplain the equilibrium position of Mint Co. in the short-run, Question 7 a GF With the help of adi plaimo i ima w does Bank Rate help to wipe out excess (ii) There are multiple cheques issued by the customers of o i which

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