Economics [Set 1]
Marks: 100 Maharashtra State Board
HSC Commerce (English Medium)
HSC Science (General)
HSC Arts (English Medium)
HSC Science (Electronics)
HSC Science (Computer Science)
HSC Commerce: Marketing and Salesmanship
Academic Year: 2016-2017
Date: July 2017
HSC Commerce (English Medium)
HSC Science (General)
HSC Arts (English Medium)
HSC Science (Electronics)
HSC Science (Computer Science)
HSC Commerce: Marketing and Salesmanship
Academic Year: 2016-2017
Date: July 2017
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[16]1
[5]1.1 | Fill in the blanks using proper alternatives given in the brackets.
[1]1.1.1
Fill in the blanks using proper alternatives given in the brackets.
Demand for car and petrol is ____________ de
1. Direct
2.Indirect
3.Joint
4.Composite
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
[1]1.1.2
Total Revenue ÷ number of units sold = ______
Average Cost
Average Revenue
Marginal Cost
Total Cost
Concept: undefined - undefined
Chapter:
Chapter:
[1]1.1.3
Fill in the blanks using proper alternatives given in the brackets
Personal Income - Direct Tax = ________________
1.Private income
2.Disposable income
3.National Income
4. Total Income
Concept: undefined - undefined
Chapter:
Chapter:
[1]1.1.4
Fill in the blanks using proper alternatives given in the bracket
____________ bank has the monopoly of note issue.
1.Commercial
2.Co - operative
3.Central
4.Industrial
Concept: undefined - undefined
Chapter: [2.06] Central Bank
Chapter: [2.06] Central Bank
[1]1.1.5
Fill in the blanks using proper alternatives given in the bracket.
When Government revenue exceeds government expenditure. It is known as a _______________ budget.
1.Surplus
2.balanced
3.deficit
4. unbalanced
Concept: undefined - undefined
Chapter: [1.01] Introduction to Micro Economics
Chapter: [1.01] Introduction to Micro Economics
[5]1.2
Match the following:
| Group ‘A’ | Group ‘B’ | ||
| a) | Marginal utility | 1) | Price Discrimination |
| b) | Medicines | 2) | Legal tender money |
| c) | Monopoly | 3) | Government bank |
| d) | Currency Notes | 4) | Utility from last unit. |
| e) | Central Bank | 5) | Inelastic demand |
| 6) | Commercial bank | ||
| 7) | Utility of all units | ||
| 8) | Elastic demand |
Concept: undefined - undefined
Chapter: [1.01] Introduction to Micro Economics
Chapter: [1.01] Introduction to Micro Economics
[6]1.3 | State whether the following statements are ‘True’ or ‘False’.
[1]1.3.1
State whether the following statements are True or False:
Adam Smith is known as the 'Father of Economics.'
Concept: undefined - undefined
Chapter:
Chapter:
[1]1.3.2
State whether the following statements are True or False:
Better transport facility increases supply at the same price.
Concept: undefined - undefined
Chapter:
Chapter:
[1]1.3.3
State whether the following statements are ‘True’ or ‘False’.
There is no need of advertisement in monopolistic competition.
Concept: undefined - undefined
Chapter:
Chapter:
[1]1.3.4
State whether the following statements are ‘True’ or ‘False’.
Depreciation is included in net investment.
Concept: undefined - undefined
Chapter: [2.03] Determinants of Aggregates
Chapter: [2.03] Determinants of Aggregates
[1]1.3.5
State whether the following statements are True or False:
Central Bank acts as a lender of the last resort.
Concept: undefined - undefined
Chapter: [2.06] Central Bank
Chapter: [2.06] Central Bank
[1]1.3.6
State whether the following statements are True or False:
Budget is not prepared for each and every year.
Concept: undefined - undefined
Chapter:
Chapter:
[12]2
[6]2.1 | Define or explain the following concepts (Any THREE):
[1]2.1.1
Define or explain the following concepts (Any THREE):
Individual demand
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
[1]2.1.2
Define or explain the following concepts (Any THREE):
Cross elasticity of demand
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.2] Elasticity of Demand
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.2] Elasticity of Demand
[1]2.1.3
Define or explain the following concepts (Any THREE):
Stock
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand
Chapter: [1.03] Analysis of Demand and Elasticity of Demand
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[1]2.1.4
Define or explain the following concepts:
Entrepreneur
Concept: undefined - undefined
Chapter:
Chapter:
[1]2.1.5
Explain the following concept:
Effective demand
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
[1]2.1.6
Define or explain the following concepts.
Clearing house
Concept: undefined - undefined
Chapter: [2.06] Central Bank
Chapter: [2.06] Central Bank
[1]2.2 | Give reasons or Explain the following statements. (Any Three)
[1]2.2.1
Give reasons or Explain the following statements.
All desires are not demand.
Concept: undefined - undefined
Chapter:
Chapter:
[1]2.2.2
A perfectly inelastic demand curve is parallel to 'Y' axis.
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
[1]2.2.3
Give reasons or Explain the following statements. (Any Three)
Agricultural goods are exceptions to the law of supply.
Concept: undefined - undefined
Chapter:
Chapter:
[1]2.2.4
Give reasons or Explain the following statements. (Any Three)
Macro Economic is also known as income and employement theory.
Concept: undefined - undefined
Chapter:
Chapter:
[1]2.2.5
Give reason or explain the following statement:
Rate of interest on fixed deposit is high.
Concept: undefined - undefined
Chapter:
Chapter:
[1]2.2.6
Give reasons or Explain the following statements. (Any Three)
During the [eriod of depression deficit budgets is used.
Concept: undefined - undefined
Chapter:
Chapter:
[12]3
[6]3.1 | Distinguish between (Any Three)
[2]3.1.1
Distinguish between (Any Three)
From Utility and Place Utility.
Concept: undefined - undefined
Chapter:
Chapter:
[2]3.1.2
Distinguish between:
Increase in demand and Decrease in demand
Concept: undefined - undefined
Chapter:
Chapter:
[2]3.1.3
Distinguish between (Any Three)
Relatively more elastic demand and relatively less elastic demand.
Concept: undefined - undefined
Chapter:
Chapter:
[2]3.1.4
Distinguish between the following.
Micro Economics and Macro Economics.
Concept: undefined - undefined
Chapter:
Chapter:
[2]3.1.5
Distinguish between the following.
Standard coins and Token coins.
Concept: undefined - undefined
Chapter: [2.04] Money
Chapter: [2.04] Money
[2]3.1.6
Distinguish between the following.
Commercial Bank and Central Bank.
Concept: undefined - undefined
Chapter: [2.06] Central Bank
Chapter: [2.06] Central Bank
[6]3.2 | Write short notes (Any Two)
[2]3.2.1
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[2]3.2.2
Explain the importance of the law of Diminishing Marginal Utility.
Concept: undefined - undefined
Chapter:
Chapter:
[2]3.2.3
Write short notes (Any Two)
Types of loans of commercial bank.
Concept: undefined - undefined
Chapter:
Chapter:
[2]3.2.4
Write short notes (Any Two)
Revenue Receipts
Concept: undefined - undefined
Chapter: [2.07] Public Economics [8] Public Finance in India
Chapter: [2.07] Public Economics [8] Public Finance in India
[12]4 | Answer the following Questions. [Any Three]
[4]4.1
Explain any four points of importance of microeconomics.
Concept: undefined - undefined
Chapter:
Chapter:
[4]4.2
Answer the following Questions. [Any Three]
Explain features of utility.
Concept: undefined - undefined
Chapter:
Chapter:
[4]4.3
Answer the following Questions. [Any Three]
Explain the imprtance of elasticity of demand.
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.2] Elasticity of Demand
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.2] Elasticity of Demand
[4]4.4
Explain the concept of Macro economics and its features.
Concept: undefined - undefined
Chapter:
Chapter:
[4]4.5
[4]4.6
Explain the agency function of commercial banks.
Concept: undefined - undefined
Chapter:
Chapter:
[12]5 | State with reason whether you agree or disagree with the following statements. (any Three)
[4]5.1
State with reason whether you agree or disagree with the following statements. (any Three)
Vrious factors influence Elasticity of Demand.
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand
Chapter: [1.03] Analysis of Demand and Elasticity of Demand
[4]5.2
State with reasons whether you agree or disagree with the following statements.
Supply curve slopes upward from left to right.
Agree
Disagree
Concept: undefined - undefined
Chapter:
Chapter:
[4]5.3
State with reason whether you agree or disagree with the following statements. (any Three)
There are many feature of labour.
Concept: undefined - undefined
Chapter:
Chapter:
[4]5.4
State with reason whether you agree or disagree with the following statements. (any Three)
Aggregate demand depand only on the consumption expenture.
Concept: undefined - undefined
Chapter: [2.03] Determinants of Aggregates
Chapter: [2.03] Determinants of Aggregates
[4]5.5
[4]5.6
State with reason whether you agree or disagree with the following statements. (any Three)
Central Bank do not adopt quantitative mesures of credit control.
Concept: undefined - undefined
Chapter:
Chapter:
[16]6 | Write Explanatory answer. (Any Two )
[8]6.1
Write Explanatory answer.
State and explain the law of demand with its exception.
Concept: undefined - undefined
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
Chapter: [1.03] Analysis of Demand and Elasticity of Demand [3.1] Demand Analysis
[8]6.2
Write Explanatory answer. (Any Two )
What is perfect competitaion ? Explain price determination under perfect competition.
Concept: undefined - undefined
Chapter:
Chapter:
[8]6.3
Write Explanatory answer. (Any Two )
What is national income. Explain how national income is mesured by output method
Concept: undefined - undefined
Chapter:
Chapter:
[8]6.4
Write Explanatory answer. (Any Two )
What do you mean by aggregate supply? Explain deteminants of aggregate supply?
Concept: undefined - undefined
Chapter:
Chapter:
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By referring the question paper Solutions for Economics, you can scale your preparation level and work on your weak areas. It will also help the candidates in developing the time-management skills. Practice makes perfect, and there is no better way to practice than to attempt previous year question paper solutions of Maharashtra State Board 12th Standard Board Exam.
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