HSC ACCOUNTS MODEL PAPER
Time: 3 hour Sub: Economics Marks: 100
Q.1 (A) Complete the sentences by choosing correct alternative given below. 5marks
1. Central banks lends loans to ___________ (businessmen, farmers, consumers, commercial banks)
2. Stock refers to the ____________ (real concept, static concept, flow concept, none of these)
3. The law of demand is not applicable for ___________. (music, reading, money, indivisible goods)
4. Electricity has ____________ (competitive demand, composite demand, complimentary demand, joint
demand)
5. The abnormal demand curve slopes _____________ (upward, downward, vertical, remains the same)
(B) State whether the following statements are true or false. 5marks
5marks
1. Refrigerator in restaurant is capital goods.
2. Government budget gives us the complete financial information of the country
3. Reservation price of perishable goods is generally high
4. Price is the only factor that determines demand for a commodity.
5. Free entry is an essential but not a sufficient condition of perfect competition.
(C) Choose the correct answer in each from the following four alternatives 5marks
1. in case of perfectly elastic demand, the demand curve is __________
Parallel to Y axis
Parallel to X axis
Downward sloping
Upward Sloping
2. Discriminating monopoly implies that the monopolist charges __________
Different prices
Single price
No price
Uncertain price
3. During depression, the Central Bank adopts the _____________
near money policy
dear money policy
Cheap money policy.
No money policy
4 National Income data is not completely reliable _____________
Due to statistical and conceptual difficulties
Due to illiteracy in the country
N.I data is too large.
It takes a long time in its calculation
5. Monopoly of Note-issue of the Central Bank is its:
Traditional function
Development Function
Modern Function
Secondary function
(D) Match the two columns given below: 5marks
Group A Group B
1. Increase in Demand 1. Ed = 1
2. Unitary elastic demand 2. Reserve Bank of India
3. Aggregate Supply 3. Fall in consumption
4. Heavy loss 4. Bank of India
5. Banker’s Bank 5. Rise in Income
6. Natural resources
7. Central Bank of India
8. Saving
Q. 2 (A) Define and explain the following concept. (Attempt any 4)
8 marks
1. GDP
2. Labour
3. Budget
4. Aggregate Demand
5. Stale Cheque
6. Average propensity to consume
7. Open Market Operation
8. Fixed Capital
(B) Rewrite the following statements as True of False. Give Reasons. (Any 4) 8 marks
1. Pen and ink have negative cross elasticity of demand)
2. Autonomous consumption can be zero.
3. Utility is a subjective concept.
4. Commercial bank regulates the issue of currency.
5. Supply curve slopes upward from left to right.
6. Microeconomics helps to understanding of economic problem o a nation.
7. Sunk capital has several purposes (uses).
8. Whenever income increases, saving also increases.
Q. 3 (A) Distinguish between (Any Four) of the following 8 marks
1. Variation in demand V/S Changes in demand
2. Labour V/S Capital
3. Income method V/S expenditure Method
4. Illegal income/S transfer income
5. Perfect competition V/S Monopoly
6. Saving Account V/S Fixed Deposit Account
7. Extension in demand V/S Increase in Demand
8. Income Elasticity of demand V/S Cross Elasticity of demand
(B) Give reasons or explain the following in brief. (Any 4) 8 marks
1. A cheque is optional money.
2. Geffen’s goods are an exception to the law of demand
3. Reading books and stamp collection is not a real exception to the law of DMU.
4. In Deficit budget Expenditure is more than Income
5. When Consumption is equal to income, saving is zero.
6. Reservation price is low in case of perishable commodity.
7. Value of only final goods and services are included in Calculating National Income
8. Why popularity of the macro economics increased?
Q. 4. (A) Answer the following questions in one or two paragraphs (any 2) 8 marks
1. Components of Budget
2. Features of Micro economics
3. Explain the Backward Bending Labour Curve?
4. Explain the Features of Land
(B) Write Short notes on the following: (any two) 8 marks
1. Secondary function of commercial bank
2. Product method of measuring National Income
3. Consumption Function
4. Importance of Elasticity of demand
Q. 5 Do you agree or disagree with the following statements. Give Reasons. (Any Two) 16 marks
1. Whenever Saving Increases Consumption also increases.
2. There are no difficulties involved in the measurement of National Income?
3. Accepting Deposit is not only the primary function of commercial bank
Q. 6 Answer the following (any two) 16 marks
1. Define and Explain the Functions of Central Bank?
2. What are the determinants of Individual Demand?
3. Explain the law of Diminishing Marginal Utility? And it’s Assumption?
