HSC Maharashtra State Board
Practice Test Paper
Sub: ECO (1,2,3,4 & 5) Marks:
45 Marks
Time: 2Hrs Date:
Q.1 A) Complete the following statement by
choosing the correct alternatives: [3 Marks]
1. In the law of diminishing marginal
utility, Alfred Marshall assumes that the marginal utility of money ________.
a) increases
b) remains constant
c) decreases
d) rises and then
falls
2. When less units are demanded at a high
price it shows ______.
a) increase in
demand
b) expansion of
demand
c) decrease in
demand
d) contraction in
demand
3. A rightward shift in supply curve
shows _______.
a) contraction of
supply
b) decrease in
supply
c) expansion of
supply
d) increase in
supply
Q.1.B. Complete the correlation: [3 Marks]
a) Macro economic theory :
Income and employment : : Micro economics : __________
b) Straight line demand curve : Linear
demand curve :: ___________ : non-linear demand curve.
c) Single price : Perfect
competition :: Discriminated prices : __________.
Q.1.C Give economic term: [3 Marks]
a) Degree of responsiveness of a change of
quantity demanded of a good to a change in its price.
b) A desire which is backed by willingness
to purchase and ability to pay demand.
c) Number of firms
producing identical product
Q.1.D. Identify and explain the concept from the given
illustration: [4
Marks]
a) Bhushan refused to eat
fifth chapati after eating four chapatis.
b)
Shabana paid wages to workers in her
factory and interest in her bank loan.
Q.1.E Assertion and Reasoning type of
question: [2 Marks]
1. Assertion (A): Degree of price
elasticity is less than one in case of relatively inelastic demand.
Reasoning (R): Change in demand is less than the change in price.
Options
(A) is true, but (R) is false
(A) is false, but (R) is true
Both (A) and (R) are true and (R) is the
correct explanation of (A)
Both (A) and (R) are true and (R) is not
the correct explanation of (A)
2. Assertion (A): Elasticity of
demand explains that one variable is influenced by another variable.
Reasoning (R): The concept of elasticity of demand indicates the
effect of price and changes in other factors on demand.
Options
(A) is true, but (R) is false
(A) is false, but (R) is true
Both (A) and (R) are true and (R) is the
correct explanation of (A)
Both (A) and (R) are true and (R) is not
the correct explanation of (A)
Q.2. Answer the following: (Any 2) [9 Marks]
a) Explain the features of Micro Economics.
b)
Explain in detail the determinants of
demand.
c)
Explain the importance of elasticity of
demand.
d)
What is meant by Perfect competitions?
State its features.
Q.3. Observe the
following table and answer the question: [4
Marks]
Supply schedule of chocolates
|
Price in ₹ |
Quantity supplied in units |
|
10 |
200 |
|
15 |
|
|
20 |
300 |
|
25 |
350 |
|
30 |
|
|
35 |
|
|
40 |
|
1. Complete the above supply schedule.
2. State the relationship between price and quantity
supplied.
3. Draw a diagram for the above supply schedule.
Q.4.
State with reason whether you agree or disagree with the following statement:
(Any 3) [9 Marks]
a) Microeconomics uses
slicing methods.
b) When the price of
Giffen goods fall, the demand for it increases.
c) Macroeconomics is
different from microeconomics.
d) Demand curve slopes
downward from left to right.
Q.5.
Distinguish between:(Any 3)
[6 Marks]
a) Perfectly elastic demand and perfectly
inelastic demand.
b) Desire and demand.
c)
Micro Economic and Macro Economic
d)
Stock and Supply.
Q.6. Answer
in detail (Any 1) [6
Marks]
a) State and explain the ‘law of demand’
with its exceptions.
b)
State and
explain the law of Diminishing Marginal Utility and explain its exceptions.
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