SVKM's Narsee Moniee College of Commerce & Economics (Autonomous)
2024
SYJC HSC Preliminary Application Based Test, December
Subject: Economics Duration: 1 hour
Marks: 20
Date:14.12.24 Class: S3( Div: A Roll No: A-0B Seat Number:
Examiner's Supervisor's
Marks
Awarded 20 20 Signature:
Signature:
Instructions:
1. All questions are compulsory.
2. Answers are required to be written on the question paper itself.
No Extra supplements will be provided.
No Electronic gadgets are permitted during the examination.
Pencil work will not be awarded any marks.
0.1. Choose the correct option: 4 Marks
) Unit at which MU becomes equal with market price it is called:
a) Intra- marginal unit
b) Marginal Unit
c) Extra Marginal unit
d) Consumer's equilibrium
Options: i) a and b i) b and c ii) b and d iv) only d
Ans. tonty iu) band d.
2) The following is the scope of Macro economics
a) Theory of investment function
b) Theory of income and employment
c) Theory of economic welfare
d) Theory of business cycles
Options: i) a, bandd ii) b, c and d ii) a, b andc iv) a, c and d
Ans. ()oband d.
3) Statements that highlight the significance of index numbers:
a) Index numbers are used to measure changes in economic variables
b) Index numbers provide guidelines to policy makers
c) Index numbers measure changes in the price level from time to time
d) Index numbers can be misused
Options: i) a, b and d ii)) b, c and d iii) a, b and c iv) a, c and d
Ans.
4) Prccautions that should be taken while estimating national income by output method:
a) Imputed value of goods produced for self-consumption is included in national income
b) Indirect taxes should be deducted and subsides to be included
c) All unpaid services should be ignored
d) Value of exports should be added and value of imports should be dcducted.
Options: i) a, b and c ii) b, c and d iii) a, b and d iv) a, c and d
Ans.
A-013
0.2) Find the Odd Word: 4 Marks
1) Perfect competition: Free entry and exit, Absence of transport cost, Fairly large number of
buyers, Single price.
Ans. faisty la9c number of bu yers-islue od ol word.
2) Pxeeptions to the law of demand: Price illusions, Prestige goods, Rare goods, Giffen's
paradox.
Ans. Rare qoods ishe odd woso
3) Types of price elasticity of demand: Relatively inelastic demand, Unitary elastic demand,
Positive elasticity of demand, tnitayeiestie-demard- Pefectly elasie ole aud
Ans. osit e elasic demand
4) Classical economists: J.S. Mill, Adam Smith, J.R Hicks, David Ricardo
Ans. JR Hicks
Q.3) Complete the co-relation: 4Marks
teorease in supply: Supply curve shifts to the left of the Supoy
dertand curve.:
oSupP :Upward movement on the same supply curve.
2) Export trade: sale of goods by one country to another country: Enhtpot Irode:
purchasc of goods from one country and selling to another country after processing.
3),Consumer goods: Direcf Demaro:: Producers goods: Derived Demand.
4) Unitary elastic demand: Rectaugu(ar
hyperbolQ. :: Relatively inelastic demand: Steeper demand
curve.
0.4) Give Economic Term:
4 Marks
) The minimum amount of sales proceeds which entrepreneur expect to rcccive from the sales
of output at a given level of
employment.
Ans, Aggre gate Suppl
2) Asymbol legally registered that represents a company or product.
-Ans. YademarK
) The sum of money granted by a public body to help an
industry to keep the price of a
commodity Jow.
Aas.Subsidies
3
4) A summary statement of all the transactions between the residents of one country and the rest
of the world.
Ans. Bedanee o Payment
Q.5) Study the following situations and express your opinion: 4 Marks
1) Mr Doga runs a manufacturing unit, where he produces various categories of goods. He
purchases raw material from various vendors across India. For his recent purchase he had to pay
Mr Gojo Rs. S5000 who lives in Chennai. Since cash payment was not possible, he sent money
from his account to Mr Gojo's account directly without any hassle.
i) What is the above transaction called?
ii) Give your opinion on how the above mention payment infrastructure is helpful to
our country.
Ans.
i) fue tansachM i called Nohal slechoni c
ii) NEET inauivises Qnline tanses ot nMneyincteacd or
pnysial KUhcn-e ot curreuu notei Tais oieens tiu hosi20n foY
SupplioYS Moreo vey
it leads .curikicn at labtuY ,specicdlisaso
Conpehhin, Sinc hadurs
intneases
not YeSicted to te al naces
esues geod quauty pvodlues
2) Mr Nandu decided to present a research paper on India's
economy. He learnt that Indian
government adjusts its spending levels and tax rates to monitor and influence the economy. On
diving deep in to his research he understood that these financial decisions taken by the
government deal with various types of public expenditure, various sources of public revenuc and
the government takes public debt to finance its deficit. All the financial decisions taken by the
government aim to increase economic activity in the country.
i) ldentify the concept highlighted in the above situation.
ii) In your opinion what is the relevance of the
identified concept
Ans.
i)ue conap i_ukd inhe above cen capt is
Ciscal Policy
4
A
potiay ot he couuty.efiscaA
i) fiácal policy isThe fina ucialCloupnay
poliay qreatty influea ue d4-tue louny arai
po Jtutisal poliay us
aey
Moreoret affespYov isi D s offect the distnbuht
0ic WAhatey attects tyade lcom mene
