Professional Documents
Culture Documents
1. The income of government through all sources is called public _________ (money, income, debt, revenue).
2. The relation between the price and demand is _________ (direct, inverse, negative, indirect)
3. Real investment implies creation of new ___________ (goods, services, assets, capital)
4. A cheque which bears a future date is called a __________ cheque (crossed, pre-dated, post-dated, stale)
5. Value expressed in terms of money is called ____________ (utility, credit, price, demand)
(C) Choose the correct answer in each from the following four alternatives
1. National income refers to the value of goods and services produced in a __________
day
week
month
year
5.
Which of the following is not the exception to the law of demand___________
Medicines
Salt
Prestige goods
Normal goods
(D) Match the two columns given below:
Group A Group B
1. Sunshine 1. Uniform price
2. Very short period 2. Free goods
3. National Income 3. Derived demand
4. Factors of production 4. Country’s Income
5. Perfect competition 5. Market price
6. Normal Price
Q. 2 (A) Define and explain the following concept. (Attempt any 4) 8 marks
1. Export
2. Partial Equilibrium
3. Slicing method
4. Complimentary or Joint Demand
5. Gross Domestic Product
6. Open market operation
7. Import.
8. Inflation.
(B) Rewrite the following statements as True of False. Give Reasons. (Any 4) 8 marks
1. Values of only final goods and services are included in measuring GNP.
2. Labours is perishable in nature.
3. There is no real exception to the law of diminishing marginal utility.
4. The Seller is the price maker under perfect competition.
5. Price and Supply plays an inverse relationship.
6. There is no exception to the Law of Supply.
7. Medicines have elastic demand.
8. The capital is the most mobile factor of production.
Q. 4. (A) Answer the following questions in one or two paras (any 2) 8 marks
1. Function of Money
2. Features of National Income
3. Bank Rate Policy
4. Features of Labour
Q. 5 Do you agree or disagree with the following statements. Give Reasons. (Any Two) 16 marks