Valia Jr.
College
SYJC - Application Based Internal Question bank
(ABT)
Sub: Economics
Time: 01 Hr. Marks:20
Choose the correct option: (4)
(1) Micro economic is a equilibrium approach :
(a) Partial (b) general (c) total (d) multi variable
Options : (I)a, and b (ii) b and c (iii) only c (iv)only a
Ans: Option iv) Only a
(2) The law of DMU is important to
(a) Producer (b) consumer (c) Govt. (d) None of the above
Option : (i) a and b (ii) b and c (iii) d (iv) a, b and c
Ans: Option iv) a, b and
(3) When price rise demand
(a) rises (b) contract (c) remains constant (d) become Negative
Option: (i) a (ii) b (iii) c (iv) d
Ans: Option ii) only b
(4) Product differentiation is possible in the following market
a) Perfect competition. b) Monopoly
c) Monopolistic competition. d) all of the above
Option 1) a and b. 2) only b 3) only c 4) only d
Ans.: Option 2) only b
(5.) National income is a
a) Stock concept. b) final concept
c) intermediate concept. d) flow concept
Option 1) only a. 2) b and c. 3) only d. 4) a and d
Ans: Option 3 only d
(6) Non-tax sources of revenue
a) Direct and indirect tax. B) direct tax and fees. C) fees d) special levy
Options 1) b and c 2) a and c. 3) a, b, c and d. 4) c and d
Ans: Option 4 c and d
(7) Natural Monopoly created on the basis of natural condition such as
a)Climate b)Specific Location c)Rainfall d)OPEC
Option 1) a,b,c 2) b,c,d 3) c,d,a 4) d,a,b
Ans: Option 1 a ,b, c
(8) Demand curve slopes
a) downward b)Upward c)left to right d)right to left
Option 1) a and b 2) b and c 3) c and d 4) a and c
Ans: Option 4 a and c
Find odd word out: (4)
(1) Rent, wages, interest, profit, investment
Ans.: Investment
(2) continuity, constancy, rationality, homogeneity, parishable
Ans.: perishable
(3) Washing machine, mobile, laptop, salt.
Ans.: Salt
(4) Types of elasticity of demand: unitary elasticity, income elasticity, cross
elasticity, price elasticity.
Ans :unitary elasticity
(5) Cost concept: total cost, marginal cost, average cost, production cost
Ans : Production cost
(6) Land, Labor, Capital, Sunshine.
Ans: Sunshine
(7) Income, Employment, Investment, Laisez Fair Policy.
Ans : Laisez Fair Policy
(8) Price Index, Quantity Index, Value Index, Inflation Index.
Ans : Inflation Index
Complete the correlation (4)
1) Micro economy: :: macro economy : Income theory.
Ans: Price theory
2) Marginal utility : zero: total utility
Ans: Maximum
3) Composite demand: electricity :: : tea and coffee
Ans:Competitive demand
4) Direct tax: progressive :: Indirect tax :
Ans. Aggressive
5) Microeconomics: :: Macroeconomics: Makros
Ans: Mikros
6) Central Bank: : SBI : Commercial Bank
Ans: RBI
7) Outer circle: Real flow :: _______: Money flow
Ans: Inner circle
8) Import : Petroleum :: _______ : Rice
Ans: Export
Q. 4 Give economic term (4)
1) Macro economic is known as
Ans.:Income theory
2) The market where there are few sellers
Ans.: Oligopoly
3) Capacity of commodity to satisfy humanwants
Ans.: Utility
4) India exports the goods to USA
Ans.: External Trade
5) Net addition made to the total cost by
producing one more unit of output
Ans: Marginal cost
6) Wear and tear of capital assets due to their
use in the process of production
Ans: Depreciation
7) The year with which the changes are measured
Ans. Base year
8)Total expenditure is also known as
Ans. Total outlay/ total revenue method
Q.5 Answer the following and give your opinion by observing (4)
(i) Table shows India's import for 2 year observe and answer the question
given below
Case I
India's import in %
Commodities 2015-16 2016-17
(a) Electric goods 21.8 22.6
(b) Fertilizers 2.1 1.3
(3) Food grains 0.1 0.4
Questions
(1) Which commodity have more import in 2016?
Ans. Electric Goods
(2) Which commodity have minimum import in the year 2015?
Ans. Food grains
(3) Give your opinion about reducing our import
Ans.:
Case :II
In India, RBI has the sole right to issue currency notes. The one rupee note and coins
of all denominations are issued by the ministry of finance of the govt. of India, but their
distribution is undertaken by Reserve Bank of India. commercial bank is people's bank.
Central bank performs different function for the government.
Quesations:
i. RBI stand for
Ans. Reserve Bank of India
ii. Who issues one Rupee and coin?
Ans. The ministry of finance of the govt. of India,
CASE III
Mona visits a shopping mall near her residence. She shops for monthly groceries
which include rice, wheat, sugar, cooking oil and pulses. She purchases additional
quantities of sugar much more than her monthly requirement anticipating that prices
may rise in the coming days due to festivities.
She observes two different qualities of tur dal out of which one quality is inferior and the
other is superior. She does not purchase the low quality tur dal even though its price is
comparatively lower. Instead she prefers to buy superior quality tur dal.
Questions
i. Identify the exception to the law of demand in the given passage
with reference to purchase of additional quantities of sugar much
more than monthly requirement anticipating that prices may rise in
the coming days due to festivities.
Ans. Expectation about the future price.
ii. Identify the kind of good with reference to low quality tur dal.
Ans .Inferior goods / Perishable goods
Case IV
My mother purchased a two wheeler vehicle to me. This helped to fulfill my travel needs. At
the same time my father also utilized his provident fund amount to set up my classes.
1) Name the type of utility (1 Mark)
Ans. Time and Place utility
2) Explain the meaning of utility (1 mark)
Ans. Utility is a capacity of a good to satisfy human wants
Case V
Money market is a market for financial assets that are close subst itute for money. The
instruments deals with in this market are liquid.. They can be converted into cash. Money
market facilities mobilization of funds for a short period. The main function of money market
is to provide liquidity.
Questions:
1) Who facilitates mobilization of funds?
Ans. Money Market.
2) Give your opinion about money market.
Ans. Money market is a market that provides short term funds generally for a period of a
year or less.
