Roll No.

No. of Questions — 30 SS—10—Econ.

No. of Printed Pages — 7

2014
SENIOR SECONDARY EXAMINATION, 2014

ECONOMICS
1
3
4
80

GENERAL INSTRUCTIONS TO THE EXAMINEES :

1.
Candidate must write first his / her Roll No. on the question paper
compulsorily.
2.
All the questions are compulsory.
3.
Write the answer to each question in the given answer-book only.
4.
For questions having more than one part the answers to those parts
are to be written together in continuity.
5.

If there is any error / difference / contradiction in Hindi & English

versions of the question paper, the question of Hindi version should
be treated valid.

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6.

1-10 1 10

11-18 2 20

19-27 4 30-40

28-30 6 250-300
Section Q. Nos. Marks per Word limit
question of answer
A 1-10 1 10 words
B 11-18 2 20 words
C 19-27 4 30-40 words
D 28-30 6 250-300 words

7. 28, 29 30
Question Nos. 28, 29 and 30 have internal choices.

–
Section – A
1.
Write the meaning of Centrally Planned Economy. 1
2.
What is the short run period ? 1
3.
Define Oligopoly. 1
4.
Explain the situation of zero excess demand and zero excess supply. 1
5.
What is the remuneration of human labour ? 1
6.
What is meant by liquidity preference ? 1
7.
Give any two deficiencies of barter system. 1

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8.
What is a closed economy ? 1
9. 25 5

If indirect taxes and subsidies amounted to Rs. 25 Cr. and Rs. 5 Cr.
respectively in an economy, calculate the net indirect taxes. 1
10.
Which are the capital goods among television, tractor, pump set and
food ? 1
–
Section – B
11.
Write any two central problems of an economy. 1+1
12.
What are meant by direct taxes and indirect taxes ? 1+1
13.
Explain the diminishing rate of substitution. 2
14. AB A B

What is the elasticity of demand at the points A and B on the given

demand curve AB ? 2

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15.

1 9 9 —
2 8 16

Calculate the marginal revenue and average revenue on the basis of

quantity sold, price and total revenue given in the table :
Total Average Marginal
Quantity sold Price
revenue revenue revenue
1 9 9 —
2 8 16
½+½+1
16. 250
100
Calculate the ex-ante aggregate demand, when the ex-ante
consumption expenditure is Rs. 250 Cr. and the ex-ante investment
expenditure is Rs. 100 Cr. in an economy without a government. 2
17.
Differentiate between foreign trade surplus and trade deficit. 1+1
18.

Explain the meaning of foreign exchange market. Mention any two

participants of the market. 1+½+½
–
Section – C
19.
Write four instruments of monetary policy of Reserve Bank of India.
41
20.
Describe any two measures to reduce the Government Deficit. 2+2

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21.

Explain the meaning of investment with an example. What is the

deciding factor of investment decision ? 3+1
22.
What is liquidity trap ? Explain with the help of a diagram. 2+2
23. —

Give a diagrammatic representation of Gross Domestic Product by the

three methods — Expenditure, Income and Product. 4
24.
Write any four conditions of perfectly competitive market. 41
25.

0 40 — 40 — — — —
1 40 20 60 ? 20 60 20
2 40 36 76 20 18 ? 16
3 40 48 88 13·33 ? 29·33 ?

Calculate the missing values of average fixed cost, average variable

cost, short run period average cost and short run period marginal cost
in the given table :
Short run Short run
Total Total Average Average
Output Total period period
fixed variable fixed variable
(Units) cost average marginal
cost cost cost cost
cost cost
0 40 — 40 — — — —
1 40 20 60 ? 20 60 20
2 40 36 76 20 18 ? 16
3 40 48 88 13·33 ? 29·33 ?
41

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26. 10 100 12
150
The price of a commodity is Rs. 10 and the supply is 100 units. If the
price increases to Rs. 12 and supply increases to 150 units, calculate
the price elasticity of supply. 4
27. 20

0
1
2
3
If the price of a good in a perfectly competitive market is Rs. 20 per
unit, compute the total revenue and marginal revenue schedules in
the given table. 4
Sold quantity Total revenue Marginal revenue
0
1
2
3
–
Section – D
28.

Explain shift in the demand curve and movement along the demand
curve with the help of diagrams. 3+3
OR
What do you mean by the budget line and indifference curve ? Explain
the indifference map with the help of a diagram. 1½ + 1½ + 3

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29.

Differentiate between fixed input and variable input. Explain the law of
Diminishing Marginal Product. 1+1+2+2
OR
Discuss the short run cost curves with the help of diagrams. 6
30.

(i)
(ii)
(iii)
(iv)
(v)
(vi)
Discuss the relationship between Gross Domestic Product and
Welfare. 6
OR
Explain the following concepts : 61
(i) Gross Domestic Product
(ii) Gross National Product
(iii) Net National Product
(iv) Net National Product at Factor Cost
(v) Personal Income
(vi) Personal Disposable Income.

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