25-08-2017, 09:32 PM
PRE BOARD QUESTION
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Section:-A
1. Define Production possibility curne.
2. what do you mean by indifference map ?
3. What is meaned by Budget set ?
4. What is meant by average physical product
5. State any one characteristic of monopolistic competition. (1)
6. Explain giving reason, why production possibility curve is coneve
7. A consumer consumes only two goods X and Y and is in equilibrium price of X rises. Explain the reaction of the consumer with the help of utility analysis. (3)
8. Draw supply curnes showing price elasticity of supply equal to
(i) Zero (ii) One (iii) Infinity
9. An individual is both the owner and the manager of a shop tareen on rend identify implicit cost and explicit cost from this information. Explain (3)
10. Explain the implication of large number of buyers in a perfectly competitive market (3)
11. Define an indifference curve. Eplain why an indifference curve is downward sloping from left o right. (4)
12. When Price of a good is Rs. 7 per unit consumer buys 12 units. When price falls to Rs. 6 perunit he spends Rs. 72 in the good calculate price elasticity of demand by using the percentage method. comment on the likely shope of demand curve based on this measure of elasticity.
13. explain how changes in price of inputs influence the supply of a products (4)
14. Explain the difference between (i) inferior goods and normal goods and (ii) coordinal utility and ordinal utility. Give example in each case. (6)
15. explain the distinction between changes in quantity supplies and change in supply use diagram. (6)
16. Market for a good is in equilibrium. there is simuttaneous “decrease” both in demand and supply but there is no change in market price.
Explain with the help of a schedule how it is possible. (6)
or
Market for good is in equilibrium. Explain the chain of reaction in market if the price is
(i) Higher than market price and
(ii) Lower than equilibrium price.
Section :- B
17. Define stock variable (1)
18. Define caplital goods (1)
19. What are demand deposits ? (1)
20. Define a Tax (1)
21. Give meaning of managed floating exchanges rate (1)
22. calculate gross value added at feature Cost (3)
(i) Units of output (sold) (Units) 1000
(ii) Price per unit of output Rs. 30
Depreciation Rs. 1000
Intermediate Cost Rs. 12,000
Closing Stock Rs. 3000
Opening Stock Rs. 2000
Excise Rs. 2500
Sales Tax Rs 3500