|
SAMPLE PAPER
SET-III
ECONOMICS
Time Allowed : 3 Hours
Max. Marks : 100
General
Instructions : All the questions are
compulsory
SECTION -
'A'
|
| Q.1. |
Define domestic factor income.
|
| Q.2. |
Name the two consuming sectors in the
domestic economy. |
| Q.3. |
A producer had a stock of only raw
materials of Rs. 3,000 at the beginning of the
year. At the end of the year, it had a
stock of raw material and finished goods of Rs.
4,000 and Rs. 2,000 respectively. What is
its change in
stocks.
[ Ans. Rs.
3000 ] |
| Q.4. |
Give two examples of departmental
enterprises in India. |
| Q.5. |
Explain the problem of double counting in
estimation of national income. |
| Q.6. |
Are the following included in national
income ? Give reasons : |
|
(a) Dividend on shares |
|
(b) Winning of a lottery
prize |
| Q.7. |
Describe the institutional categorisation
of domestic producers of an economy.
|
| Q.8. |
What are capital transfers ? Give an
example each of capital transfer within a
country and capital transfer between countries.
|
| Q.9. |
What is included in final consumption
expenditure of the government ?
|
| Q.10. |
Why is there a difference between the
gross value of output of an enterprise and that
of general government ? |
Q.11. |
Explain, with the help of an example, the
concept of "mixed income of
self-employed". |
| Q.12. |
Distinguish between private income and
personal disposable income. |
| Q.13. |
Explain briefly the role of entrepreneur
in the production process of a modern economy.
|
| Q.14. |
Calculate net domestic product at market
price from the following figures :
|
|
( Rs. in crores )
|
| (i) |
Gross capital formation |
1,000 |
| (ii) |
Net factor income from abroad |
(-) 200 |
| (iii) |
Net exports |
(-) 100 |
| (iv) |
Personal disposable income |
3,000 |
| (v) |
Personal savings |
350 |
| (vi) |
Net indirect taxes |
200 |
| (vii) |
Change in stocks |
300 |
| (viii) |
Consumption of fixed capital |
250 |
| (ix) |
Government final consumption expenditure
|
500 |
|
[ Ans. Rs.
4,100 crores ] |
| Q.15. |
From the following data, about a firm,
estimate the operating surplus :
|
|
(Rs. in lakhs)
|
| (i) |
Value of gross output at market
prices |
700 |
| (ii) |
Purchase of raw material
|
180 |
| (iii) |
Expenditure on fuel |
30 |
| (iv) |
Wages and salaries |
250 |
| (v) |
Profits |
20 |
| (vi) |
Net indirect taxes |
90 |
|
[ Ans. Rs.
150 lakhs ] |
| Q.16. |
How is private final consumption
expenditure measured ? Explain.
|
| Q.17. |
Write a brief note on the data compilation
of the net factor income from abroad in
India. How does this data help the Indian
economy ? |
| Q.18. |
Calculate the national income by income
and expenditure methods from the following data
: |
|
( Rs. in crores )
|
| (i) |
Gross fixed capital formation |
200 |
| (ii) |
Private final consumption expenditure
|
700 |
| (iii) |
Rent, interest and profits |
450 |
| (iv) |
Change in stocks |
80 |
| (v) |
Consumption of fixed capital |
20 |
| (vi) |
Net capital formation |
260 |
| (vii) |
Net factor income from abroad |
(-) 50 |
| (viii) |
Exports |
120 |
| (ix) |
Net indirect taxes |
100 |
| (x) |
Imports |
70 |
| (xi) |
Government final consumption expenditure
|
90 |
| (xii) |
Mixed income of self-employed |
200 |
| (xiii) |
Compensation of employees |
350 |
|
[ Ans. Rs. 950
crores ] |
| Q.19. |
What are explicit costs ?
|
| Q.20. |
Define monopolistic competition.
|
Q.21. |
Why is the demand for a factor of
production called "derived demand" ?
|
| Q.22. |
Define nominal wages. |
| Q.23. |
Explain the relationship between
elasticity of supply of a factor of production
and its transfer earnings. |
| Q.24. |
State the components of aggregate demand.
|
| Q.25. |
Would the elasticity of demand in the
following cases be unity, less than unity or
greater than unity. (i) A
rise in price of a commodity increases the total
household expenditure on it.
(ii) A
rise in price of a commodity reduces the total
household expenditure on it.
(iii) A
rise in prince of a commodity does not affect
total household expenditure on it.
|
| Q.26. |
Explain the law of supply.
|
| Q.27. |
How is equilibrium price of a commodity
determined ? How will it be affected by a
decrease in supply, demand being unchanged ?
|
| Q.28. |
Explain any one method of controlling
excess demand in an economy. |
| Q.29. |
What do you mean by Giffin's paradox ?
Explain the concept with the help of an example.
|
| Q.30. |
Why do wages differ between occupations ?
|
| Q.31. |
Complete the following table :
|
|
Output (Units) |
Price (Rs.) |
TR (Rs.) |
AR (Rs.) |
MR (Rs.) |
|
|
1 |
5 |
- |
- |
- |
|
|
2 |
6 |
- |
- |
- |
|
|
3 |
7 |
- |
- |
- |
|
| Q.32. |
Complete the following table :
|
|
Output (units) |
TFC (Rs.) |
AVC (Rs.) |
TC (Rs.) |
MC (Rs.) |
|
|
0 |
- |
- |
|
|
|
|
1 |
- |
20 |
|
|
|
|
2 |
50 |
15 |
|
|
|
| Q.33. |
Distinguish between gross interest and net
interest. |
| Q.34. |
What are the central problems of an
economy ? Why do they arise ? |
| Q.35. |
State the essential conditions of a
perfectly competitive market. What type of
demand curve does a firm have under perfect
condition. |
| Q.36. |
Using suitable diagram explain the three
stages of production with one variable factor
input. |
