Model Examination 2016-17: Ii) All Questions Carry One Mark

MODEL EXAMINATION 2016-17
Class: XII
200
SUB: Economics
hrs
MARKS:
Time: 3
PART- A
Note: i) Answer all the questions.
ii) All questions carry one mark.
I. Choose the correct answer: -
14x1=14
1._______________ is the author of wealth definition.

a. Alfred Marshall
b.Lionel Robbins
c.Adam Smith
d.Samuelson
2.Traditional Economy is a __________________ Economy.
a.Subsistance
b.Market
c.Command
d.Monetary
3._______________ helps to the Finance Minister to levy more tax on rich
a.Consumers surplus
b.Law of equi-Marginal utility
c. The law of diminishing Marginal
d.None of these.
4. The demand for a commodity refers to ________
a.wish to buy
b.purchasing power to buy
c.decision to buy
d. all of these
5. Above the equilibrium price______________
a. S<D
b.S>D
c.S=D
d.None
6. Internal economics arise from _____
a.within a firm
b.outside of firm
c.land
d.investment
7. Real cost is ___________
a. Pain and sacrifice b.Subjective concept c. efforts and fore giving leisure
d. all these
8. The classical theory assumed the existence of _________
a.unemployement
b.Disguised unemployement
c.full employment
d.under employment
9. The firm which has only one seller is _____
a. Perfect competition b.monopoly
c. imperfect competition
d.oligopoly
10. According to professor __________profits are not different from wages.
a.Taussing
b. Ricardo
c.walker
d.Schumpeter
11. Law of demand establishes_______________
a. Inserve relationship between price and quantity b. Positive relationship between price and quantity
c.Both
d. None
12. The central problem in Macro Economics is ____________
a. Income and employment
b.Price and output
c.Interst and Money
d.None.
13. Public finance refers to ________
a. Related to Public revenue
b.related to public expenditure
c. Public revenue and public expenditure
d.tax revenue
14. During inflation _______________
a. businessmen gain
b.wage earners gain
c.salaried pepole gain
d.renters gain
II. Fill in the blanks:12x1=12
15.Production means creation of ______________

16.___________ is the Prime motive of socialistic society.
17.Marshallian utility analysis is called as __________ analysis.
18. The rate of change of suppy to a change in price is ________
19. Money wages is also called as ____________ wages.
20._________ is the money hold by people.
21.Equation of exchange was given by ________
22. The term micro means_______
23. ______tax is a blend of progressive tax and proportional tax
24.______________=Tun - Tun -1.
25. Price rigidity is an important feature of ________________
26.Implicit cost is also known as __________
III.Match the following: 12 x1=12

27.Income
28. Bureaucratic expansion
29. Law of Equi-marginal utility
30.Cross elasticity of demand
31.Discount price
32.Labour
33.Profit
34. No transport cost
35. Dynamic theory on profit
36. S/ Y
Perfect competition
TR-TC
MPS
flow
socialism
quantitive control of credit
Human input
H.H. Gossen
Annual stock clearance
rebate and subsidies
37. Bank Rate

38. Fiscal policy
X or Y are independent goods

Clark
-:2:-
P.T.O
IV. Answer each one of the following question in a word or two:12x1=12

39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
What is the basic assumption of economic theory?

What is the other name for budget line?
Who is the author of Agio theory of interest?
Who has introduced the time element?
How does the government control monopoly
What type of demand is labour?
Mention the formula for multiplier.
What is the other name for money income?
What is meant by stag-inflation?
Name the kind of tax which is imposed on commodities and services
Name any two successful socialist Economies.
What is break even point?
PART-B
Note: i) Answer any ten questions.
ii) Answer for each question should be about four or five lines.
10x3=30
V.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
62.
63.
64.
65.
Define consumer surplus as given by Marshall.

What is an opportunity cost?
What are the three motives of liquidity preference?
Write a note on Market Period?
Division of labour-what do mean by it.
Name the important general Economic systems
Write a short note on Giffens Paradox.
What is an equilibrium price?
What is main division of economics?
What are the four components of money supply in India?
What is Zero based budget?
Mention the relationship between MC and AC
What is production function? What are its clasification?
What are the properties of indifference curve?
What is effective demand?
PART C
VI.
Note: i) Answer any six questions.
ii) Answer for each question should be about a page.
6X10=60
66.
67.
68.
69.
70.
71.
72.
73.
74.
75.
Discuss the merits and demerits of mixed economy.

Describe the flatter long run supply curve.
Write the difference between direct tax and inderect tax
Bring out the criticisms of Says law of market.
Explain the relation between AR and MR curves.
Distinguish between laws of returns and returns to scale.
Draw the flow chart to depict the essence of Keynes theory.
Explain the features of Perfect competition.
Give a note on long run average cost curve.
Explain the canon of taxation.
VII.
76.
77.
78.
79.
80.
PART D
Note: i) Answer any three questions.
ii) Answer for each question should be about three pages.
3x20=60
Discuss the relationship between economics and other social science.

Explain the law of deminishing marginal utility with diagram.
Describe various method of measuring price elasticity of demand.
Explain price output determination under monopoly.
Describe Recardian theory of rent.
81. Discuss the causes effects and remedies for inflation.

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MODEL EXAMINATION 2016-17

1._______________ is the author of wealth definition.

II. Fill in the blanks:12x1=12

15.Production means creation of ______________

III.Match the following: 12 x1=12

37. Bank Rate

X or Y are independent goods

IV. Answer each one of the following question in a word or two:12x1=12

What is the basic assumption of economic theory?

Define consumer surplus as given by Marshall.

Discuss the merits and demerits of mixed economy.

Discuss the relationship between economics and other social science.

81. Discuss the causes effects and remedies for inflation.

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