(English Medium)
Academic Year: 2024-2025
Date & Time: 19th March 2025, 11:00 am
Duration: 2h
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- Answers to this Paper must be written on the paper provided separately.
- You will not be allowed to write during the first 15 minutes.
- This time is to be spent in reading the question paper.
- The time given at the head of this Paper is the time allowed for writing the answers.
- Attempt all questions from Section A and any four questions from Section B.
- The intended marks for questions or parts of questions are given in brackets [ ].
Assertion (A): Festivals have a major economic impact on local and regional economies by increasing business activity specially in areas such as retail, tourism and entertainment.
Reason (R): Festivals stimulate increased consumer spending in sectors like retail, hospitality and transportation, thereby boosting local business and creating job opportunities.
(A) is true and (R) is false.
(A) is false and (R) is true.
Both (A) and (R) are true and (R) is the correct explanation of (A).
Both (A) and (R) are true and (R) is not the correct explanation of (A).
Chapter:
An inferior good for which demand falls with a fall in price is called ______.
Normal good
Giffen good
Complementary good
Substitute good
Chapter:
If price of x increases, the demand for y too increases. How are x and y related?
as complementary goods
as inferior goods
as substitute goods
as unrelated goods
Chapter:
Observe the image given below and identify the division of labour:
Horizontal Division of labour
Simple Division of labour
Vertical Division of labour
Partial Division of labour
Chapter:
The phenomenon of increasing share of urban population to the total population of a country is known as ______.
Migration
Urbanisation
Industrialisation
Civilisation
Chapter:
Match the following:
| 1. | Prices offered by the fashion industry depend on the services provided for their uniqueness. | P. | Perfectly Competitive Market |
| 2. | Central Government is the sole buyer of defense equipment. | Q. | Monopoly Market |
| 3. | Concession in Railway Tickets for senior citizens as compared to normal passengers. | R. | Monopolistically Competitive Market |
| 4. | The sellers have to quote the market price which usually remains uniform. | S. | Monopsony Market |
1 - S, 2 - Q, 3 - P, 4 - R
1 - Q, 2 - R, 3 - S, 4 - P
1 - R, 2 - P, 3 - Q, 4 - S
1 - R, 2 - S, 3 - Q, 4 - P
Chapter:
Contribution of ______ capital towards the increase in national output of any country is important.
Money
Real
Fixed
Sunk
Chapter:
As a result of a 5% increase in price, the demand for commodity X increases by 12%. The price elasticity of demand will be:
eD > 1
eD < 1
eD = 1
eD = ∞
Chapter:
Name the function of an entrepreneur as shown in the picture given below.
Innovation
Planning
Delegation
Risk bearing
Chapter:
Due to cyclonic effect in an area, the sea level covers a number of rice fields in that area. This reduces productivity of land. How will this affect the supply curve of rice of that region?
Downward movement along the supply curve
Supply curve shifts to the leftward side
Upward movement along the supply curve
Supply curve shifts to the rightward side
Chapter:
Assertion (A): Indirect taxes can be made progressive.
Reason (R): More excise duty imposed on producing luxury items and exempting taxes on necessary items.
(A) is true and (R) is false.
(A) is false and (R) is true.
Both (A) and (R) are true and (R) is the correct explanation of (A).
Both (A) and (R) are true and (R) is not the correct explanation of (A).
Chapter:
Which of the following is an impact of a decrease in Cash Reserve Ratio on loanable funds?
Loanable funds will increase
Loanable funds will decrease
Loanable funds remain unchanged
Banks will impose restrictions on loans
Chapter:
Which of the following is not a private sector enterprise?
Tata Industrial Group
Steel Authority of India
Hindustan Unilever
Bharti Airtel
Chapter:
Mr. Krishnan purchases 1 litre of milk per day when it is priced at ₹ 35 per litre. On arrival of his guests, he purchases 8 litres of milk. Choose the correct impact on demand:
Increase in demand
Increase in quantity demanded
Decrease in demand
Decrease in quantity demanded
Chapter:
Selling costs are absent in a monopoly market because:
there are many sellers.
all goods are close substitutes.
all goods are differentiated.
there is only one seller.
Chapter:
Observe the relationship of the first pair of words and complete the second pair.
2 – 3% per annum is Creeping Inflation, 10 – 20% per annum is ______.
Walking Inflation
Running Inflation
Hyper Inflation
Galloping Inflation
Chapter:
Any medium of exchange, enforced by law is known as ______.
Legal Tender Money
Credit Money
Fiduciary Money
Full bodied Money
Chapter:
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Desire to acquire some goods without the ability to purchase these goods ______.
Demand
Supply
Want
Price
Chapter:
Name an instrument of state intervention.
Monetary Policy
Agricultural Policy
Industrial Policy
Trade Policy
Chapter:
Calculate elasticity of demand on the basis of the following data:
| Price (Rs.) | Quantity (kg) |
| 6 | 10 |
| 4 | 15 |
Chapter:
Technical advancement leads to cost saving. With the help of a diagram, explain the effect of technical advancement on the supply curve.
Chapter:
|
‘The Indian Railways said that there is no proposal yet to restore concessions offered to certain categories of people in ticket fares after the facility was stopped due to Coronavirus Pandemic.’ – Economic Times, August 06, 2021 |
- The Indian Railways is an example of which form of market?
- State the feature of market highlighted in the above extract.
Chapter:
Prepare a hypothetical individual demand schedule.
Chapter:
Differentiate between labour and land.
Chapter: [5] Land
State the four merits of a direct tax.
Chapter: [11] The State and Economic Development
Mention any two adverse impacts of construction of dwelling units on the ecosystem.
Chapter:
Explain any three roles of an entrepreneur as a factor of production in ensuring economic development.
Chapter:
Explain the law of supply.
Chapter: [3] Theory of Supply
Complete the following market supply schedule and give a graphical representation of the same.
| Market Supply Schedule of Firm A and B | |||
| Price per unit (₹) | Quantity supplied (kgs) by | Market Supply (kgs) | |
| Firm A | Firm B | ||
| 5 | 3 | 5 | ? |
| 6 | 6 | 9 | ? |
| 7 | 8 | 12 | ? |
| 8 | 9 | 14 | ? |
Chapter:
What is meant by elasticity of supply?
Chapter: [3] Theory of Supply [4] Elasticity of Supply
Explain graphically the following:
Relatively Elastic Supply
Chapter:
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Explain graphically the following:
Unitary Elastic Supply
Chapter:
Explain graphically the following:
Perfectly Elastic Supply
Chapter:
- State the concept depicted in the image above. Define the market to which it belongs.
- Explain briefly the concept identified by you in (a) above.
Chapter:
Which of the following is not associated with fiscal policy?
Public revenue
Public expenditure
Public debt
Open market operations
Chapter:
Public sector units made a commendable contribution to the Indian economy in the early phase of planned development. Explain any four contributions of PSU’s to the Indian economy.
Chapter: [13] Public Sector Enterprises
Differentiate between decrease in demand and contraction of demand.
Chapter:
Which type of tax is indicated in the above graph?
Chapter:
State any three points of distinction between progressive taxation and degressive taxation.
Chapter:
Read the extract and answer the questions that follow:
|
India and Taiwan are reportedly close to finalising a deal for the far eastern country to host as many as one lakh Indian workers. This comes close on the heels of another reported move that Israel is considering bringing in a large number of Indian workers too. Source: Moneycontrol.com, November 13, 2023 |
- Which characteristic of labour has been highlighted through the above news report?
- What is meant by efficiency of labour'?
- Explain any two advantages of division of labour.
Chapter:
Distinguish between saving account and current account.
Chapter:
State how money acts as maximisation of utility.
Chapter:
Identify the agricultural practice shown in the image given below. Explain any three adverse effects of it on ecosystem.
Chapter:
Read the extract given below and answer the questions:
|
The objective of the Reserve Bank of India Occasional Papers is to publish high quality research produced by the staff of the Reserve Bank of India on a broad array of issues of interest to a large audience including academics and policy makers. The papers selected for publications are subject to intense review by internal and external referees. – Reserve Bank of India, 2003 |
- State the type of Credit control method described in the above extract.
- Define Central Bank.
- Why is Central Bank referred to as a Banker’s Bank?
- State any one difference between the Central Bank and Commercial Bank.
Chapter:
What is meant by the qualitative method of credit control?
Chapter:
Differentiate between quantitative and qualitative methods of credit control.
Chapter: [16] Banking : Commercial Banks and Central Bank
Explain the following credit control instrument:
Regulation of margin requirements
Chapter:
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