Date & Time: 30th March 2016, 11:00 am
Duration: 2h
Attempt all questions from Question 1 to Question 4
Attempt any four From Question 4 to Question 10
Define a direct tax. Give two examples.
Chapter: [0.031] Meaning and Scope of Public Finance
State any two differences between an entrepreneur and other factors of production.
Chapter: [0.01] The Productive Mechanism
How does money help in maximising utility?
Chapter: [0.040999999999999995] Money
Explain two rights of a consumer.
Chapter: [0.05] Consumer Awareness
Mention one way by which the Government can reduce the inequalities of income and wealth in an economy.
Chapter: [0.031] Meaning and Scope of Public Finance
What is meant by the contraction in demand?
Chapter: [0.021] Meaning of Demand and Supply
Mention two ways by which producers benefit from the division of labour.
Chapter: [0.01] The Productive Mechanism
Mention the degree of price elasticity of demand for the following goods:
(1) cosmetics
(2) medicine
(3) school uniform
(4) air conditioners
Chapter: [0.022000000000000002] Elasticity of Demand and Elasticity of Supply
Explain briefly two factors affecting the productivity of the land.
Chapter: [0.01] The Productive Mechanism
A special virtue of indirect taxes is that they sometimes help in social reforms. Explain.
Chapter: [0.031] Meaning and Scope of Public Finance
Public expenditure in India has increased over the years. Explain four principal reasons for its increase.
Chapter: [0.032] Public Expenditure
Complete the following demand schedule:
| Price (in Rs) | Quantity of mangoes demanded (in kgs) |
| 350. 00 | 2 |
| 300.00 | |
| 250.00 | |
| 200.00 | |
| 150.00 | |
| 100.00 |
Chapter: [0.022000000000000002] Elasticity of Demand and Elasticity of Supply
Draw a perfectly inelastic supply curve
Chapter: [0.022000000000000002] Elasticity of Demand and Elasticity of Supply
Explain three causes of low capital formation in India.
Chapter: [0.01] The Productive Mechanism
What is the impact of the level of technology on supply?
Chapter: [0.021] Meaning of Demand and Supply
Explain the following: Creeping inflation
Chapter: [0.021] Meaning of Demand and Supply
Why is creeping inflation considered good for an economy?
Chapter: [0.021] Meaning of Demand and Supply
Mention two differences between fixed deposits and demand deposits.
Chapter: [0.042] Banking
What is meant by a degressive tax system?
Chapter: [0.031] Meaning and Scope of Public Finance
Define simple division of labour.
Chapter: [0.01] The Productive Mechanism
Define demand. Explain clearly two factors which determine demand.
Chapter: [0.021] Meaning of Demand and Supply
Explain four important characteristics of labour as a factor of production.
Chapter: [0.01] The Productive Mechanism
Define public expenditure.
Chapter: [0.032] Public Expenditure
Explain two ways by which public expenditure promotes economic development.
Chapter: [0.032] Public Expenditure
What is meant by the efficiency of labour?
Chapter: [0.01] The Productive Mechanism
Explain three causes of low efficiency of labour in India.
Chapter: [0.01] The Productive Mechanism
With the help of a diagram explain the meaning of the increase in supply and decrease in supply.
Chapter: [0.021] Meaning of Demand and Supply
What is meant by consumer awareness?
Chapter: [0.05] Consumer Awareness
Mention one way by which consumers are exploited in the market.
Chapter: [0.05] Consumer Awareness
Define money.
Chapter: [0.040999999999999995] Money
Explain the primary functions of money.
Chapter: [0.040999999999999995] Money
Mention five differences between a direct tax and an indirect tax.
Chapter: [0.031] Meaning and Scope of Public Finance
Explain briefly the five agency functions of a commercial bank.
Chapter: [0.042] Banking
Define capital.
Chapter: [0.01] The Productive Mechanism
Differentiate the following with examples:
Real capital and debt capital
Chapter: [0.01] The Productive Mechanism
Differentiate the following with examples:
Money capital and sunk capital
Chapter: [0.01] The Productive Mechanism
What is meant by price elasticity of supply?
Chapter: [0.022000000000000002] Elasticity of Demand and Elasticity of Supply
Explain three factors which determine the elasticity of supply.
Chapter: [0.022000000000000002] Elasticity of Demand and Elasticity of Supply
Explain the following:
Internal debt and external debt
Chapter: [0.033] Public Debt
Explain the following:
Productive debt and unproductive debt
Chapter: [0.033] Public Debt
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