SAMPLE QUESTION PAPER / ECONOMICS XII (49) <— —____ Time: 3 Hours Max. Marks: 80 = —— All questions are compulsory, Draw neat tablesidiagrams wherever necessary, Figures to the right indicate full marks. Write answersto all mainguestionson new pages ‘(A)Fill in the blanks using appropriate alternatives given inthe brackets: [20] (1) Point of Saticty mean . ——_ png TU is falling and MU is negative! TU is maximum and MU is zerof MU is rising and TU is falling) (2) The term ‘micro’ and ‘macro’ economic were fi first coined and used by which economist? (Adam Smith? Ragnaar Frisch’ Alfted Marshall? @)The cost incurred by th Mill) firm to promote sales is known as (Cost of Production’ Advertising Cos /Seling Cosv Ageregais Cost) (A)NDP is obtained by « (deducting deprecia nn from GNP/ deducting depreciation from GDP/ including depreciationin GDP/ including depreciation in GNP) (5) "Definition - Public finance is ‘one of those subjects which are on the borderline between economics and politics."given by : (Adam Smith/Alfred Marshall/ Prof, Hugh Daltory Prof. Findlay Shirras) (B) Match the words from. the following groups ‘A and'B’ (Group at ‘Group [Wealth tax Excepionl Taw of demand Perfectly inelastic demand ietived demand i: = inela mane —f-_Derived demand | correctly: Direct tax (Find the odd word : 1. Rent’ Wages! Capital/ Profit )2. Price theory/slicing method flumping method Mimited scope 3. Three sector economy: Household! Foreign sestor/ Goverment! Business firm 4. Selling contre gifts! Patent’ Advertisement Window. ‘display 5. Fees! Fines! Excise duty/ Special levy D) Complete the correlation: 1. General equilibrium : Macro economics : Micro economics 2. Single price: Perfect Competitior Discriminated Price: 3. TC: TFCHTV Cc: 4, : : Single vanabl "omposite index : Group of variables 5. Co-operative market ; Organized sector: Indigenous banker: 7 we ijnd explain he coer? Any3) pla ncepts (ANY id social uy ' ati inermal a 10 OH ey 2 (4) Identify and © stomata i é es ees a onto dorng the ear 2015-16 bie 2a. Rane afr al nis ite change in quantity demanded, soit hang roregate of Uti L en forker bakery fom the Dour msl tf i 4. Elastcty 1 Hs 5, Shaka purchased wheat ; 2 (Any 3 ‘ (a) vingasBtneen sn | ay muketand Capi Some ly andine uty 3 stock and Supply Meise 5. Cents nk and Commercial ba (Q3. Write short notes: (Any 3) te 1 Significance of inex number 2. Features of monopoly market. 4. Functions of central bank, 4. Functions of money market, S$. Relationship between TU and MU. Qo4 State with reason whether you agree or disagree: (Any 3) a |, Nationa! income is nota stock concept. 2. Trae isan engine of growth for an economy. 3. Supply cannot exceed stock, ; 4. The lawof DMU can be explained with kelp of schedule and diagram, 5. Democratic Governments do not Tea to increase in public expenditure, Q5. Do (Any 2) parts: 4 (1) Read the given passage and ansiver the question; ‘ervices Tax (GST] came into ccficet in India on July 12017, plementation ofthe Fiscal Responsibiliy and Budget Mana mendment inthee Constitution Act, 2016, Good and ‘ce Minister, the Minister of State Revenue] and the ‘GST would replace the follow se Duty, Service tay, Tax ete, LS proposed tye emet [FRAMY daisy Service Tax Counc f6st¢ coer Finance Ministers of ea t i h ate, apy Following taxes levied and collected by the Centreand Site say Additional Duties ‘of Customs, State Value Added Tat, Envy Ts, r + This tax is received by te in wiih Services are consumed and not by the state in which these y the state in w Integrated Goods and So : vices Tax GST). tj Sd services which willbe gover i * 4 tax levied on all intersate apglisesS i) Whatis Ger " elby he IGST Ag i) When GST came into effect in India? iti) Name the taxes Feplaced by ggiv) Which is a tax levied on interstate supplies of both 4 2) Solve the following: Calculate Las oods and services? eyre’s and Pa Current ¥ Price |] Quantity, rR 23 20 16 wasche's Index number from the given data: | Commodity Quant @) Observe the table and answer the questi Obsery, market suy 5 . Ply schedule of potatoes and answer the following questions, Firms Market) “AY TBE | «> ‘supply (ke) V Ro Tas 100 2 a7 BO as Co 3 40 3S 155 LK a 4 Bo 154 ‘| | To 1) Complete the quantit of potato supplied by the firms to the market in the above table. (@)Draw the market supply curve from the schedule ana explain it. ‘Q.6 Answer in details: (Any 2) (sy J. State and explain the law of demand with assu mptions, } Explain the different method of measuring Price elasticity of demand, 3. Define national income . Explain the expenditure method of measuring national income. Me . : fda.