12th HSC Board Economics:
GIVE ECONOMIC TERM
| Economics |
1. | Choose the Correct Option | 5 Marks | |
2 | Complete the Correction | 5 Marks | |
3 | Give Economic Term | 5 Marks | |
4 | Find the Odd Word | 5 Marks | |
5 | Complete the following Statements | 5 Marks | |
6 | Assertion and Reasoning Questions | 5 Marks | |
7 | Identify and Explain the Concepts | 6 Marks | |
8 | Distinguish Between | 6 Marks | |
9 | Answer in Brief | 12 Marks | |
10 | State with Reasons, Do you Agree/ Disagree | 12 Marks | |
11 | Table, Diagram, Passage Based Questions | 8 Marks | |
12 | Answer in Detail | 16 Marks |
Chapter 1: Introduction to Microeconomics and Macroeconomics
(1) A type of equilibrium that explains the equilibrium of the entire economy.
(2) The economic variables of macro quantities.
(3) The economic variables of micro quantities.
(4) Reward of capital
Ans. (1) General equilibrium (2) Macroeconomic variables (3) Microeconomic variables (4) Interest.
Chapter 2: Utility Analysis
(1) Utility of a commodity increases with a change in its time of utilization. (Sept. 21)
(2) Additional utility derived by a consumer from an additional unit consumed. (March 22)
(3) Swati purchased raincoat for her father in rainy season. (March 23)
(4) Utility derived from computer after completing computer training
(5) Want satisfying capacity of a commodity. (July 23)
(6) Quality in a commodity that is beneficial for the health.
(7) The sum of the utilities derived from the consumption of all the units of a commodity.
(8) The additional utility derived from the consumption of an additional (last) unit of a commodity.
Ans. (1) Time utility (2) Marginal utility (3) Time utility (4) (4)Knowledge utility (5) Utility (6) Usefulness (7) Total utility (8) Marginal utility.
Chapter 3 (A): Demand Analysis
(1) The demand for a commodity which can be put to several uses. (Sept. 21)
(2) Price being constant, demand falls due to unfavourable change in other factors. (March (22)
(3) A desire which is backed by willingness, purchase and ability to pay. (March '23; July '23)
(4) A situation where more quantity is demanded at lower price.
(5) Graphical representation of demand schedule.
(6) A commodity which can be put to several uses.
(7) Demand for factors of production.
(8) Demand for sugar and jaggery.
Ans. (1) Composite demand (2) Decrease in demand (3) Demand (4) Expansion of demand
(5) Demand Curve (6) Multipurpose commodity (7) Derived demand (8) Competitive demand.
Chapter 3 (B): Elasticity of Demand
(1) Degree of responsiveness of a change of quantity demanded of a goods to a change in its price. (March '23)
(2) Degree of responsiveness of a change in quantity demanded of one commodity due to change in the price of another commodity.
(3) Elasticity resulting from infinite change in quantity demanded.
(4) Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
Ans. (1) Price elasticity of demand (2) Cross elasticity of demand (3) Perfect elasticity (4) Unitary elasticity
Chapter 4: Supply Analysis
(1) Revenue per unit of output sold. (March 22)
(2) Cost incurred on foxed factor.
(3) Cost Incurred per unit of output.
(4) Cost incurred on raw material.
Ans. (1) Average revenue (2) Fixed Cost (3) Average Cost (4) Variable Cost.
Chapter 5: Forms of Market
(1) The market where there are few sellers. (Sept. 21)
(2) Period in which all factors of production are variable. (March 22)
(3) Very realistic competition in nature.(March 23)
(4) The cost incurred by the firm to promote sales. (July 23)
(5) The point where demand and supply curve intersect.
(6) Charging different prices to different consumers for the same product or services.
Ans. (1) Oligopoly (2) Long period (3) Monopolistic competition (4) Selling cost (5) Equilibrium point (6) Price discrimination.
Chapter 6: Index Numbers
(1) A statistical tool to measure changes in an economic variable over a period of time.
(2) An index number measuring the general changes in the prices of goods over a period of time.
(3) An index number measuring the general changes in the labour productivity over a period of time.
(4) An index number measuring the general changes in a single variable over a period of time.
(5) An index number measuring the general changes in a group of variables over a period of time.
Ans. (1) Index numbers (2) Price Index Number (3) Labour Productivity Index Number (4) Univariable Index Number (5) Composite Index Number.
Chapter 7: National Income
(1) The gross market value of all final goods and services produced within the domestic territory of a country during a period of a year. (March 22)
(2) The volume of commodities and services turned out during a given period counted without duplication. (March 23)
(3) Factor payment received by land in the form of money.
(4) Factor payment received by labour in the form of money.
(5) The flow of goods and services produced in an economy during a year,
(6) The difference between the value of exports and imports during a year.
Ans. (1) Gross Domestic Product (GDP) (2) National income (3) Rent (4) Wages (5) National income (6) Net exports.
Chapter 8: Public Finance in India
(1) Financial statement showing the expected receipts and proposed expenditure of the government in the coming financial year. (Sept. '21)
(2) Financial transactions made for the maximum benefit of the society.
(3) Expenditure incurred on various government departments and services.
(4) Compulsory contribution from the person to the government without reference to special benefits conferred.
(5) Amount to be paid by the concerned person in case of violation of law.
(6) Debts raised by the government on the basis of financial resources outside the country.
Ans. (1) Government budget (2) Public finance (3) Revenue expenditure (4) Tax (5) Fine (6) External debt.
Chapter 9: Money Market and Capital Market in India
(1) Deposits withdrawable on demand. (Sept. '21)
(2) Debt instrument issued by companies or the government as a means of borrowing long term funds
(3) Shares of a company held by an individual or a group.
(4) Debt instruments issued by a government with a promise of repayment at maturity.
Ans. (1) Demand deposits (2) Bonds (3) Equity shares (4) Government securities.
Chapter 10: Foreign Trade of India
(1) Purchase of goods and services by one country from another country.
(2) Sale of goods and services by one country to another country.
(3) Systematic record of all international economic transactions of a particular country for a given period.
(4) The difference between the value of country's exports and imports for a given period.
Ans. (1) Import trade (2) Export trade (3) Balance of payments (4) Balance of trade.
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