Examdays Admissions Economics-Commerce

1
MODEL PAPER
d{kk & XII
vFkZ’kkL= ¼okf.kT;½ & Economics (Commerce)
set - 1
[k.M&1 (Section-1)
oLrqfu"B iz’u (objective type Question)
1x40=40
funsZ’k%& iz’u la[;k 1 ls 40 rd esa pkj fodYi fn, x, gS ftuesa ls ,d lgh gSA lgh fodyi
dks pqus ,oa i= esa fpfUgr djsA
Instructions:- For Question Nos.I to 40 there are four alternative of which only one is correct.
Choose
the correct alternative and mark it in the answer sheet.
(1) What is economics activity ?

vkfFkZd fØ;k fdls dgrs gS \
(2) What is price elasticity of demand ?
ek¡x dh dher yksp D;k gS \
(3) What is short-run production function ?
vYidkyhu mRiknu Qyu D;k gS \
(4) Demand curve o f a firm under perfect competition is perfectly elastic : Explain.
iw.kZ izfr;ksfxrk esa QeZ dh ek¡x oØiw.kZ rFkk ykspnkj gksrk gSA Li”V djsaA
(5) With the help of demand and supply carves shout the minimum support price.
Ekk¡x ,oa iwfrZ oØksa dh lgk;rk ls U;wure leFkZu ewY; n’kkZb,A
(6) What do you mean by Gross national product ?
Lkdy jk”Vªh; mRikn ls vki D;k le>rs gS \
(7) In an economy investment increases from Rs.-1000 crone to 1200 crone and as a
result total income increased by Rs.-800 crone. Calculate MPC.
,d vFkZO;oLFkk esa fcfu;ksx :0] 1000 djksM+ ls c<+dj :0] 1200 djksM+ gks tkrk gS] ftlls
dqy vk; esa :0] 800 djksM+ esa o`f) gksrh gSA lhekUr miHkksx izo`fÙk dh x.kuk dhft,A
(8) Calculate MPC from the following data about an economy which is in equilibrium
national income.
,d vFkZO;oLFkk tks fd lUrqyu esa gS ds ckjs esa fuEufyf[kr vk¡dM+ksa ls lhekUr miHkksx izo`fÙk
dk ifjdyu dhft,A
jk"Vªh; vk; (National Income) 2000
2
Lokpr miHkksx O;; (Autonomous consumption expenditure) 200

fuos'k O;; (Investment expenditure) 100
(9) What is the effect of revenue deficit ?
jktLo ?kkVs dk D;k izHkko gS \
(10) What are the main characteristics of balance of payment ?
Hkqxrku lUrqyu ds eq[; fo’ks”krk,¡ D;k gS \
nh?kZ&mÙkjh;
Q. (11) Distinguish between Micro Economics and Macro Economics.
Lkw{e vFkZ’kkL= ,oa O;kid vFkZ’kkL= eas vUrj Li”V dhft,A
Q. (12) Explain the distinction between law of demand and elasticity of demand..
ek¡x ds fu;e ,oa ek¡x dh yksp eas vUrj Li”V dhft,A
Q. (13) Discuss the main function of Reserve Bank of India as central Bank.
Hkkjrh; fjtoZ cSad ds dsUnzh; cSad ds :i esa eq[; dk;Z crkb,A
Q. (14) What do you mean by aggregate demand ? Distinguish between market
demand and aggregate demand.
Lkkewfgd ek¡x ls vki D;k le>rs gS \
cktkj ek¡x ,oa lkewfgd ek¡x esa vUrj djsaA
Q. (15) Define foreign exchange rate Differentiate between fixed and flexible e
xchange rates.
fons'kh fofu;e nj dks ifjHkkf”kr dhft,A
fLFkj rFkk ykspiw.kZ fofu;e nj esa vUrj dhft,A
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MODEL QUESTION PAPER

COMMERCE
CLASS –XII
ECONOMICS
SECTION : 1
(Objective Questions)
In the following question Nos. 1 to 40 there are four options of which only one is
correct. You have to choose the correct option and mark in the answer sheet.
1. Which of the following economic activities are included in the subject-matter of
Economics ?
(a) Economic Activities related to unlimited wants
(b) Economic Activities related to Limited Resources
(c) Both (a) and (b)
(d) None of these
2. Which Economist divided Economics in two branches of micro & macro on the basis
of economic activity ?
(a) Marshall (b) Ricardo
(b) Ragnar Frish (d) None of these
3. Who said, “ Economics is a science of wealth, “ ?
(a) Marshall (b) Robbins
(c) Adam Smith (d) J.K. Mehta
4. Micro Economics includes :
(a) Individual unit
(b) Small units
(c) Individual Price determination
(d) All of these
5. Who gave the cardinal concept of utility ?
(a) Marshall (b) Pigou
(c) Hicks (d) Samuelson
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6. Slope of budget line or price line is

(a) (b)
(b) (d)
7. Following figure shows :
(a) High Elastic Demand

(b) Perfectly Elastic Demand
(c) Perfectly Inelastic Demand
(d) Inelastic Demand
8. For giffin goods, Price elasticity of demand is
(a) Negative (b) Positive
(b) Zero (d) None of these
9. Elastic demand is shown by :

(a) (b)
(c) (d) None of these
10. Production function is expressed as :

(a) Qx = PX (b) QX = f (A, B, C,D)
(c) Qx = DX (d) None of these
11. An active factor of Production is
(a) Capital (b) Labour
(c) Land (d) None of these
12. Which of the following is not fixed cost ?
(a) Insurance Premium (b) Interest
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(c) cost of Raw material (d) Rent of the factory

13. When average cost is decreasing what status marginal cost has an compared to
average cost ?
(a) MC > AC (b) MC = AC
(c) MC ≤ AC (d) MC ≠ AC
14. Which is a characteristic of the market ?
(a) One Area (b) Presence of both Buyers and sellers
(c) Single Price of the commodity (d) All the above
15. Market Price is found in :
(a) Short Period (b) long period Market
(c) Very long Period (d) None of these
16. Who said, “ Price is determined by both Demand and supply forces “ ?
(a) Jevons (b) Walras
(c) Marshall (d) None of the above
17. Market situation where there is only one buyer is :
(a) Monopoly (b) Monopsony
(c) Duropoly (d) None of the above
18. The concept of monopolistic competition is given by
(a) Hicks (b) Chamberlin
(c) Mrs. Robinson (d) Samuelson
19. In very short period, supply will be :
(a) perfectly elastic (b) Perfectly inelastic
(c) Elastic (d) None of the above
20. Rent is = ?
(a) Actual Income - Transfer Earnings
(b) Actual Income + Transfer Earnings
(c) Transfer Earnings (d) None of the above
21. Which of the following is a stock ?
(a) Wealth (b) Saving
(c) Export (d) Profit
22. Which service is included in Tertiary Sector
(a) Mining (b) Construction
(c) Communication (d) Animal Husband-ary
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23. The Market price of all final goods and services produced in the domestic territory
of a country in a year is known as :
(a) G D PMP (b) G D PFC
(c) N N PFC (d) None of the above
24. Which method is adopted in measuring national Income ?
(a) Production Method (b) Income Method
(c) Expenditure (d) All the above
25. N N PMP = ?
(a) G N PMP __ Depreciation
(b) G N PMP + Depreciation
(c) G N PMP + Indirect Tax

(d) None of the above
26. “ Money is what money does. “ who said it ?
(a) Hartley withers (b) Haw trey
(c) Thomas (d) Keynes
27. Which is the Primary function of commercial Banks ?
(a) Accepting Deposits (b) Advancing Loas
(c) Credit creation (d) All the above
28. Which is the central Bank in India ?
(a) Reserve Bank of India (b) State Bank of India
(c) Central Bank of India (d) Bank of India
29. With which Narsimham committee is relased to ?
(a) Tax Reforms (b) Banking Reforms
(c) Agriculture Reforms (d) Infrastructure Reforms
30. Banking Sector Reforms in India began in :
(a) 1969 (b) 1981
(c) 1991 (d) 2001
31. If MPC = 0.5, then Multiplier 9K) will be :
(a) (b) = 0
(c) 1 (d) 2
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32. On which concept does classical viewpoint depend ?

(a) Say’s law of Market
(b) Perfect Flexibility of wage Rate
(c) Perfect Flexibility of Interest Rate
(d) All of these
33. Which one is correct ?
(a) Y = C + I (b) Y = 0 = N
(c) C + S = C + I (d) All the above
34. Which of the following is a reason of appearing surplus Demand ?
(a) Increase in Public Expenditure
(b) Increase in Money supply
(c) Fall in Taxes
(d) All the above
35. Deflationary Gap shows the measurement of :
(a) Deficit Demand (b) Surplus Demand
(c) Full Employment (d) None of the above
36. Which monetary measure is to be adopted in connecting Inflationary Gap ?
(a) Increase in Bank Rate
(b) Selling of Securities in open market
(c) Increase in cash Reserve Ratio
(d) All the above
37. Financial year in India is :
(a) April 1 to March 31
(b) January 1 to December 31
(c) October 1 to September 30
38. Which is a component of Budget Receipt ?
(a) Revenue Receipt (b) Capital Receipt
(c) Both a & b (d) None of the above
39. Which is included in indirect Tax ?
(a) Income Tax (b) Wealth Tax
(c) Excise Duty (d) Gift Tax
40. What is the duration of a Budget ?
(a) Annual (b) Two Years
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(c) Five Years (d) Ten Years
Ans :-
1. (C), 2. (d), 3. (c), 4. (d)
5. (a), 6. (a), 7. (b), 8. (b)
9. (a), 10. (b), 11. (b), 12. (c)
13. (c), 14. (d), 15. (a), 16. (c)
17. (b), 18. (b), 19. (b), 20. (a)
21. (a), 22. (c), 23. (a), 24. (d)
25. (a), 26. (a), 27. (d), 28. (a)
29. (b), 30. (c), 31. (d), 32. (d)
33 (d), 34. (d), 35. (a), 36. (d)
37. (a), 38. (c), 39 (c), 40. (a)

9
cgq &fodYih; iz’u % &
funsZ’k & fuEukafdr iz’uksa ds pkj fodYi fn, x, gS] ftuesa ls ,d lgh gSA lgh fodYi dks mÙkj
rkfydk es fpfg~r dhft,A
1- fuEu esa ls dkSu&lh vkfFkZd fØ;k,¡ vFkZ&’kkL= dh v/;;u lkexzh ds vUrxZr lfEefyr dh tkrh
gS \
(a) vlhfer vko’;drkvksa ls tqMh+ vkfFkZd fØ;k,¡
(b) lhfer lk/kuksa ls tqMh+ vkfFkZd fØ;k,¡
(c) a vkSj b nksuksa (d) buesa ls dksbZ ughaA
2- vkfFkZd fØ;kvksa ds v/;;u ds lUnHkZ esa vFkZ’kkL= dks nks ‘kk[kkvks&a O;fLV vkSj lefLV esa fdl
vFkZ’kkL=h us foHkkftr fd;k \
(a) ek’kZy (b) fjdkMksZ
(c) jSxuj fQ’k (d) buesa ls dksbZ ugha

3- fdlus dgk fd ^^ vFkZ’kkL= /ku dk foKku gSA **
(a) ek’kZy (b) jkWfoUl
(c) ,Me fLeFk (d) ts0 ds0 esgrk

4- O;fLV vFkZ’kkL= esa lfEEkfyr gksrh gS %
(a) O;fDrxr bdkbZ (b) NksVs&NksVs bdkbZ
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(c) O;fDrxr ewY; fu/kkZj.k (d) buesa ls lHkh

5- mi;ksfxrk dk x.kukokpd fl)kUr fuEu esa fdlus izLrqr fd;k \
(a) ek’kZy (b) ihxw
(c) fgDl (d) lSE;qvYlu

6- dher ;k ctV js[kk dh <ky gksrh gS %
(a) (b)
(c) (d)
7- fuEufyf[kr fp= iznZf’kr djrk gS %
(a) vkfFkZd ykspnkj ek¡x (b) iw.kZr% ykspnkj ek¡x

(c) iw.kZr% csykspnkj ek¡x (d) de ykspnkj ek¡x
8- fxfQu oLrqvksa (Giffin Goods) ds fy, dher ek¡x dh yksp gksrh gS %
(a) _.kkRed (b) /kukRed
(c) ‘kwU; (d) buesa ls dksbZ ugha

9- lkis{k ykspnkj ek¡x dks O;Dr djrk gS %
(a) (b)
(c) = (d) buesa ls dksbZ ugha
10- mRiknu Qyu dks O;Dr djrk gS &

(a) QX = PX (b) QX = f (A, B, C, D)
(c) QX = DX (d) buesa ls dksbZ ugha

11
11- mRiknu dk lfØ; lk/ku gS &

(a) iwt
a h (b) Je
(c) Hkwfe (d) buesa ls dksbZ ugha

12- fuEufyf[kr esa dkSu fLFkj ykxr ugha gS \
(a) ches dh izhfe;e (b) C;kt
(c) dPps eky dh ykxr (d) QSDVªh dk fdjk;k

13- tc vkSlr ykxr ?kV jgh gks rks lhekUr ykxr vkSlr ykxr dh rqyuk esa fdruh gksrh gS \
(a) MC > AC (b) MC = AC
(c) MC ≤ AC (d) MC ≠ AC
14- cktkj dh fuEufyf[kr esa dkSu&lh fo’ks”krk,¡ gS \

(a) ,d {ks= (b) Øsrkvksa vkSj foØsrkvksa dh fLFkfr
(c) oLrq dk ,d ewY; (d) buesa ls lHkh
15- cktkj ewY; ik;k tkrk gS %
(a) vYidkyhu cktkj (b) nh?kZdkyhu cktkj esa
(c) vfr nh?kZdkyhu cktkj esa (d) buesa ls dksbZ ugha
16- fuEufyf[kr esa ls fdlus dgk Fkk fd ^^ fdlh oLrq dh dher ek¡x ,oa iwfrZ dh ‘kfDr;ksa }kjk
fu/kkZfjr gksrh gS \ **
(a) tsoUs l (b) okyjl
(c) ek’kZy (d) buesa ls dksbZ ugha

17-cktkj fLFkfr ftlesa oLrq dk dsoy ,d Øsrk gksrk gS %
(a) ,dkf/kdkj (b) ehuksIlksuh
(c) };kf/kd`r (d) buesa ls dksbZ ugha

18- ,dkf/kd`r izfr;ksfxrk dh /kkj.kk dks fn;k gS %
(a) fgDl us (b) pSEcjfyu us
(c) jkWfoUl us (d) lSE;qYlu us
12
19- vfr vYidky esa iwfrZ gksxh %

(a) iw.kZr% ykspnkj (b) iw.kZr% csykspnkj
(c) ykspknkj (d) buesa ls dksbZ ugha
20- yxku ¾ \
(a) okLrfod yxku & gLrkUrj.k vk;
(b) okLrfod yxku $ gLrkUrj.k vk;
(c) gLrkUrj.k vk; (d) buesa ls dksbZ ugha
21- fuEufyf[kr esa ls dkSu&lk LVkWd gS \
(a) lEifÙk (b) cpr
(c) fu;kZr (d) ykHk
22- r`rh;d {ks= ds vUrZxr fuEu esa ls dkSu&lh lsok lfEefyr gS \

(a) [kuu (b) fuekZ.k
(c) lapkj (d) i'kqikyu

23- ,d ys[kk o”kZ esa fdlh ns’k dh ?kjsyw lhek esa lHkh vRikndksa }kjk ftruh Hkh vafre oLrqvksa vkSj
lsokvksa dk mRiknu gksrk gS ¼ftlesa ewY; g~kl dher ds ;ksx dks dgk tkrk gS %
(a) G D PMP (b) G D PFC
(c) NN PFC (d) buesa ls dksbZ ugha

24- jk”Vªh; vk; dk ekiu fuEufyf[kr esa fdl fof/k ls fd;k tkrk gS \
(a) mRiknu fof/k (b) vk; fof/k
(c) O;; fof/k (d) ;s lHkh
25- NN PMP = ?
(a) GN PMP f?klkoV (b) GN PMP f?klkoV

(c) GN PMP vizR;{k dj (d) buesa ls dksbZ ugha
26-fuEufyf[kr esa fdlds vuqlkj] ^^ eqnzk og gS rks eqnzk dk dk;Z djA **
(a) gkVZys fonlZ (b) gkVªs
(c) izks0 FkkWel (d) dhUl

13
27- O;kikfjd cSad ds izkFkfed dk;Z fuEufyf[kr esa dkSu&ls gS \

(a) tek,¡ Lohdkj djuk (b) _.k nsuk
(c) lk[k fuekZ.k (d) mi;qZDr lHkh
28- Hkkjr dk dsUnzh; cSad fuEfyf[kr esa dkSu&lk gS \
(a) fjtoZ cSad vkWQ bf.M;k (b) LVsV cSad vkWQ bf.M;k
(c) lsUVªy cSad vkWQ bf.M;k (d) cSad vkWQ bf.M;k
29- ujflEge lfefr dk lEcU/k fuEufyf[kr esa fdlls gS \
(a) dj lq/kkj (b) cSafdax lq/kkj
(c) d`f”k lq/kkj (d) v/kkjHkwr lajpuk
30- Hkkjr esa cSafdax {ks= lq/kkj izkjEHk gqvk %
(a) 1969 esa (b) 1981 esa
(c) 1991 esa (d) 2001 esa
31- ;fn MPC = 0.5 rks xq.kd (R) gksxk %

(a) (b) = 0
(c) 1 (d) 2
32- Dykfldy fopkj/kkjk fuEu esa ls fdl rF; ij vk/kkfjr g \
(a) ^ ls * dk cktkj fu;e
(b) etnwjh nj dh iw.kZ yksp’khyrk
(c) C;kt nj dh iw.kZ yksp’khyrk
(d) buesa ls lHkh
33- fuEufyf[kr esa dkSu lk dFku lgh gS \
(a) Y = C + I
(b) vFkZO;oLFkk esa vk; dk lUrqyu Lrj (Y) = mRiknu dk lUrqyu Lrj (0) = jkstxkj dk lUrqyu
Lrj [Y = 0 =N]
(c) C+S = C+I
(d) mi;qZDr lHkh

34- vfrjsd ek¡x mRiUu gksus ds fuEufyf[kr esa dkSu&ls dkj.k gS \
14
(a) lkoZtfud O;; esa o`f) (b) eqnzk dh iwfrZ esa o`f)
(c) djksa esa deh (d) mi;qZDr lHkh
35- voLQhfrd vUrjky fdldh eki crkrk gS \
(a) U;wu ek¡x dh (b) vkf/kE; ek¡x dh
(c) iw.kZ lUrwyu dh (d) buesa ls dksbZ ugha
36- LQhfrd vUrjky dks Bhd djus ds fy, izeq[k ekSfnzd mik; dkSu&ls gS \
(a) cSad nj esa o`f) (b) [kqys cktkj esa izfrHkwfr;k¡ cspuk
(c) uxn dks”k mRikr esa o`f) (d) mi;qZDr lHkh
37- Hkkjr dk foÙkh; o”kZ gS %
(a) 1 vizSy ls 31 ekpZ (b) 1 tuojh ls 31 fnlEcj
(c) 30 vDVwcj ls 1 flrEcj (d) buesa ls dksbZ ugha
38- ctV izkfIr;ksa ds la?kVd fuEufyf[kr esa dkSu gS \

(a) jktLo izkfIr;k¡ (b) iwt
a hxr izkfIr;k¡
(c) (a) vkSj (b) nksuksa (d) buesa ls dksbZ ugha
39- vizR;{k dj ds vUrxZr fuEufyf[kr esa fdls ‘kkfey fd;k tkrk gS \

(a) mRiknu ‘kqYd (b) fcØh dj
40- ctV dh vof/k D;k gksrh gS \
(a) okf”kZd (b) nks o”kZ
(c) 5 o”kZ (d) nl o”kZ
Ans :-
1. (C), 2. (d), 3. (c), 4. (d)

15
5. (a), 6. (a), 7. (b), 8. (b)
9. (a), 10. (b), 11. (b), 12. (c)
13. (c), 14. (d), 15. (a), 16. (c)
17. (b), 18. (b), 19. (b), 20. (a)
21. (a), 22. (c), 23. (a), 24. (d)
25. (a), 26. (a), 27. (d), 28. (a)
29. (b), 30. (c), 31. (d), 32. (d)
33 (d), 34. (d), 35. (a), 36. (d)
37. (a), 38. (c), 39 (c), 40. (a)

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SECTION :II
Short Answer type Questions
(1) What is economic activity ?

Ans : - All economic activities arising out of unlimited wants and scarce maens are included
in the subject matter of economics.
According to the modern economics “ That activity is called economic
activity which is related to the use of limited resources for satisfying unlimited
human wants. “
All economic activities do not generate income i.e. it is not necessary that
income must always be created through economic activities- Income may or may not
be generated by performing economic activities. For example, consumption is an
economic activity but income is not generated by consuming an article.
(2) What is price elasticity of demand ! What do you mean by elasticity of demand
?
Ans : - Price elasticity of demand may be define as the percentage change in the quantity
demanded of a commodity divided by the percentage change in price of that
commodity. “ In other words, it is a ratio of percentage change in quantity demanded
to percentage change in price of that commodity. Elasticity of demand (ed)
= Proportionate change in Quantity Demanded
Proportionate change in Price
ed = Q/Q
P/P
(3) What is short-run production function ? What is meant by returns to a factor ?
Ans : - In variable proportion production function, proportion of factors utilised changes because in
short-run, all factors cannot be changed. Those factors which cannot be changed due to short
period, are called fixed factors. Few factors of production are variable in the short-run-
Capital, Capital goods, land, production technique, etc. are mainly fixed factors or remain
unchanged in short period while labour units are variable. Size of plant also remains
unchanged in short-run-In this way, few factors of production are fixed and few are variable
in short-run By changing variable factors ratio of factors utilized also changes and
consequently quantity of production or output varies. This is called’ variable Proportion
production Function’.
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(4) Demand Curve of a Firm under perfect competition is perfectly elastic. Explain.
or
Explain the relationship between average revenue and marginal revenue in perfect
competition.
Ans : - A perfectly competitive firm is price-taker and so it cannot take the price more than the
prevailing price in the market. In perfect competition, a buyer had to pay the same price for
every additional unit.
i.e., Average revenue
= Marginal Revenue
AR = M R
Hence, price remains Constant
under perfect competition
and the demand
Curve for an individual firm becomes perfectly elastic.

(5) With the help of demand and supply curves show the minimum support price.
Ans : - Price floor limit
Signifies that minimum price
which government fixes at
the minimum to support the
producers. For agricultural
products, this price is known as minimum support
price.
Fig shows that in case of excess supply, government fixes price floor limit at OP2,
so as to prevent any price fall tendency appearing due to excess supply cd such price floor
limit saves the producers from losses.
(6) What do you mean by Gross National Product ?
Ans : - Gross national product is not only related to the value of final products produced by the
residents of the country within the country ‘s territory but also ads net factor income from
abroad. Thus, Gross National Product at market price (GNPMP) is the market value of the
final goods and services produced within the domestic territory of a country by the normal
residents during an accounting year along with net factor income earned from abroad.
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GNPMP = GDP + Net Factor Income from Abroad
(7) In an economy investment increases from Rs -1000 crone to Rs-1200 crone and
as a result, total income increased by Rs – 800 crone. Calculate MPC.
Ans : - I = 1200 -1000 = 200
Y = 800
We Know
Y= C+ I
C= Y+ I
= 800 – 200 = 600
SO, M P C = C 600
= = 0.75
Y 800
(8) Calculate MPC from the following data about an economy which is in
equilibrium National income 2000
Autonomous Consumption expenditure 200
Investment expenditure 100
Ans : - Multiplier = =
= = 20 =
= 20 – 20 MPC = 1
- 20 MPC = -19
MPC = = 0.95
(9) What is the effect of revenue deficit ?
Ans : - For economic development government should put a control on revenue deficit. A
high revenue deficit warns the government either to cut its expenditure or increases
its tax and non-tax receipts. But in a country like India, where people are poor, it is
difficult to force them to pay more taxes. In such a situation, revenue deficit can be
made up either through borrowing or disposal of assets, i.e., disinvestment. While
borrowing creates liability for the government, disinvestment reduces her assets. A
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government should try to strike a proper balance between its assets and liabilities
otherwise the financial system of the economy will be destabilised.
(10) What are the main characteristics of balance of payments ?
Ans : - Main characteristics of ‘ Balance of Payments ‘ are :
(1) Systematic Record - It is a record of payments and receipts of a country related

to its import and export with other country.
(2) Fixed Period of Time – It is an account of a fixed period of time generally a year.
(3) Comprehensiveness – It includes all types of visible items, invisible items and
capital transfers.
(4) Double Entry system – Payments and receipts are accounted on the basis of
double entry system.
(5) Self – balanced – Double entry system itself keeps balance of payments as
balanced.
(6) Adjustment of differences – Whenever difference arises between total receipts
and payments, This disequilibrium needs to be adjusted.
20
SECTION : II
[k.M - II
¼xSj & oLrqfu”B½

¼y?kq mÙkjh; iz’u½
1- vkfFkZd fØ;k fdls dgrs gS \

mÙkj & vlhfer vko’;drkvksa rFkk lhfer lk/kuksa ls tqMh+ lHkh vkfFkZd fØ;k,¡ vFkZ‘kkL= dh v/;;u
lkexzh ds varxZr lfEefyr dh tkrh gSA
vk/kqfud vFkZ‘kkfL=;ksa ds vuqlkj ^^ ml fØ;k dks vkfFkZd fØ;k dgrs gS* ftldk
lEcU/k ekuoh; vko’;drkvksa dks lUrq”V djus ds fy, lhfer lk/kuksa ds mi;ksx ls gksrk
gSA **
lHkh vkfFkZd fØ;k,¡ vk; l`ftr ugha djrh vFkkZr~ ;g vko;;d ugha fd vkfFkZd
fØ;k esa vk; dk l`tu gks Hkh ldrk gS vkSj ugha HkhA mnkgj.k ds fy,] miHkksx ,d vkfFkZd
fØ;k gS] fdUrq oLrq ds miHkksx }kjk vk; dk l`tu ugha gksrk gSA
¼2½ ek¡x dh dher yksp D;k gS \
vFkok
ek¡x dh yksp ls vki D;k le>rs gS \
mÙkj & ek¡x dh dher yksp fdlh oLrq dh dher esa gksus okys izfr’kr ifjoÙkZu rFkk ml oLrq dh
ek¡x esa gksus okys izfr’kr ifjoÙkZu dk vuqikr gSA
ek¡x dh yksp (ed) =

ek¡xh xbZ ek=k esa vkuqikfrd ifjoÙkZu
dher esa vkuqikfrd ifjoÙkZu mi;qZDr esa D D ek¡x
oØ gSA fd vU; rRoksa ds fLFkj jgus ij ek¡x ,oa
oLrq dh dher esa izfrykse lEcU/k gksrk gSA layXu
fp= esa fcUnq P ij miHkksäk OC dher ij OA oLrq ekuk dk mi;ksx dj jgk gSA dher esa
P deh gksus ij miHkksäk oLrq dh miHkksx ekuk Q c<+k nsrk gSA nwljs ‘kCnksa esa] dher dh
deh ds dkj.k miHkksäk dh ek¡x esa o`f) gks tkrh gSA
21
oLrq dh ek¡xh xbZ ekuk esa vkuqikfrd ifjoÙkZu
ed = oLrq dh dher esa vkuqikfrd ifjoÙkZu
(3) vYidkyhu mRiknu Qyu D;k gS \

vFkok
,d dkjd ds izfrQy ls D;k vfHkizk; gS \
mÙkj & vYidkyhu mRiknu Qyu & izfjoÙkZu’khy mRiknu Qyu esa mRikn ds fofHkUu Lrjksa ij
mRifÙk lk/kuksa ds iz;ksx vuqikr esa ifjoÙkZu gksus dh izo`fÙk ikbZ tkrh gSA vYidky esa lk/kuksa
dk iz;ksx vuqikr cnyrk gS D;ksafd vYidky esa mRifÙk ds leLr lk/kuksa dks ifjofrZr ugha
fd;k tk ldrkA vYidky esa lw{e le;kof/k ds dkj.k ftu mRifÙk ds lk/kuksa dks ifjofrZr
ugha fd;k tk ldrk] mUgsa fLFkj lk/ku dgk tkrk gSA vYidky esa dqN mRifÙk ds lk/ku
ifjoÙkZu’khy gSA eq[;r% iw¡th] i¡wthxr midj.k] Hkwfe] mRikn rduhd vkfn vYidky esa
fLFkj gS tcfd Je dh bZdkbZ;k¡ ifjoÙkZu’khy gks ldrh gSA vYidky esa mRiknu ds la;=a
vFkok Iyk.V dk vkdkj Hkh vifjofrZr jgrk gSA bl izdkj vYidkyhu mRiknu Qyu esa
dqN mRifÙk ds lk/ku fLFkj gksrs gaS rFkk dqN ifjoÙkZu’khyA ifjoÙkZu’khy lk/kuksa esa ifjoÙkZu
djus ls lk/kuksa dk iz;ksx vuqikr ifjoÙkZu’khy gks tkrk gS vkSj ifj.kkeLo:Ik mRiknu ek=k
esa Hkh vUrj mRiUu gksrk gSA bls ifjoÙkZu’khy vuqikr mRiknu Qyu dgrs gSA
(4) iw.kZ izfr;ksfxrk esa QeZ dk ek¡x oØ iw.kZrFkk ykspnkj gksrk gSA Li”V dhft,A
vFkok
iw.kZ izfr;ksfxrk esa QeZ ds ek¡x oØ dh vkd`fr D;k gS \
vFkok
iw.kZ izfr;ksfxrk esa vkSlr vkjke rFk lhekUr vkjke ds chp laca/k Li”V dhfr,A
mÙkj & iw.kZ izfr;ksfxrk esa QeZ dk ek¡x oØ iw.kZrFkk ykspnkj gksrk gS &
iw.kZ izfr;ksfxrk esa QeZ dher izkIrdÙkkZ
gksus ds dkj.k cktkj esa izpfyr dher
ls vf/kd dher Øsrk ls olwy ugha dj
22
ldrhA iw.kZ izfr;ksfxrk esa Øsrk dks izR;sd

vfrfjä bZdkbZ ds fy, ,dleku dher nsuh iM+rh gS vFkkZr
vkSlr vkjke ¾ lhekUr vkjke
AR = MR
bl izdkj iw.kZ izfr;ksfxrk esa oLrq dh dher lnSo fLFkj gksxh vkSj ,d O;fäxr QeZ
dk ek¡x oØ iw.kZrFkk ykspknkj gksxkA
(5) ek¡x ,oa iwfrZ oØksa dh lgk;rk ls U;wure leFkZu ewY; n’kkZb,A
mÙkj & dher fuEure lhek & dher fuEure
lhek ml lhek dks crkrh gS ftls ljdkj cktkj
esa olwyh tkusokyh fuEure dher ds :Ik esa
fu/kkZfjr djrh gSA d`f”k inkFkksZ ds U;wure
lEkFkZu ewY; blds mnkgj.k gSA
fp= ls Li”V gS fd ;fn vfrfjDr iwfrZ C.D
mRiUu gksrh gS rc dher ?kVus dh izo`fÙk j[ksxh
ftls jksdus ds fy, ljdkj dher dh
fuEure lhek OP2 r; dj nsrh gS rkfd mRiknd dks gkfu ls cpk;k tk ldsA
(6) ldy jk”Vªh; mRikn ls vki D;k le>rs gS \
mÙkj & ldy jk”Vªh; mRikn dh /kkj.kk dsoy ,d ns’k dh ?kjsyw lhek ds varxZr lkekU; fuokfl;ksa
}kjk mRikfnr vfUre mRikn ds ewY; ls lEcfU/kr ugha gS cfYd blesa fons’kks ls izkIr ‘kq)
lk/ku vk; dks Hkh ‘kkfey fd;k tkrk gSA
bl izdkj cktkj dher ij ldy jk”Vªh; mRikn (GNPMP) ,d ns’k dh ?kjsyw lhek
esa lkekU; fuokfl;ksa }kjk ,d ys[kk o”kZ esa mRikfnr vfUre oLrqvksa rFkk lsokvksa ds cktkj
ewY; ,oa fons’kksa ls izkIr ‘kq) lk/ku vk; dk tksM+ gSA
23
GNPMP = GDPMP + fons’kksa ls izkIr ‘kq) lk/ku vk;A

(7) ,d vFkZO;oLFkk esa fofu;ksx :0 1]000 djksM+ ls c<+dj :] 1]200 djksM+ gks tkrk gS ftlls
dqy vk; esa :] 800 djksM+ dh o`f) gksrh gSA lhekUr miHkksx izo`fÙk dh x.kuk dhft,A
mÙkj & I = 1,200 – 1,000 = 200
Y = 800
ge tkurs gSa Y= C+ I
C= Y- I = 800-200 = 600
vr% MPC = = = 0.75
(8) ,d vFkZO;oLFkk tks fd larqyu esa gS ds ckjs esa fuEufyf[kr vk¡dM+ksa ls lhekUr miHkksx izo`fÙk
dk ijdyu dhft,A
jk"Vªh; vk; 2000

Lok;Ùk miHkksx O;; 200
fuos'k O;; 100
mÙkj &
xq.kd ¾ =
= = 20 =
= 20-20 MPC = 1
- 20 MPC = -19
MPC = = 0.95
(9) jktLo ?kkVs dk D;k izHkko gS \

mÙkj & vFkZO;oLFkk ds fodkl ds fy, ljdkj dks jktLo ?kkVs dks fu;a=.k esa j[kuk pkfg,A bldk
dkj.k ;g gS fd jktLo ?kkVk ?kjsyw cpr esa ljdkj ds _.kkRed ;ksxnku vFkok ljdkjh
[kkrs ij cprksa dk eki gksrk gSA ;g bl ckr dks Li”V djrk gS fd jktLo izkfIr;k¡ jktLo
24
O;; ls de gS ftldh iwfrZ ljdkj dks m/kkj ysdj vFkok ifjlEifÙk;ksa dks cspdj iwjh djuh
iM+sxhA bl izdkj jktLo ?kkVs ds ifj.kkeLo:Ik ;k rks ljdkj ds nkf;Roksa esa o`f) gks tkrh gS
vFkok bldh ifjlEifÙk;ksa esa deh vk tkrh gSA ljdkj dks viuh ifjlEifÙk;ksa ,oa nsunkfj;ksa
esa ,d mfpr leUo; cuk, j[kuk vko’;d gS vU;Fkk vFkZO;OkLFkk esa vfLFkjrk mRiUu gksus
dk [krjk mRiUu gks tkrk gSA
(9) Hkqxrku lUrqyu dh eq[; fo’ks”krk,¡ \
mÙkj & Hkqxrku lUrqyu dh eq[; fo’ks”krk,¡ fuEufyf[kr gS &
¼1½ Øec) ys[kk fjdkWMZ & ;g ,d ns’k dk vU; ns’kksa ds lkFk fd;s x;s vk;kr fu;kZr
lEcU/kh Hkqxrkuksa o izkfIr;ksa dk Øec) ys[kk gksrk gSA
¼2½ fuf’pr le; vof/k & ;g le; dh ,d fuf’pr vof/k izk;% ,d o”kZ dk ys[kk &tks[kk
gksrk gSA
¼3½ O;kidrk & blesa lHkh idkj dh n`’;] vn`’; ,oa iw¡th vUrj.k dh enksa dks ‘kkfey fd;k
tkrk gSA
¼4½ nksgjh vadu iz.kkyh & nksgjh ys[kk vadu] iz.kkyh ds vk/kkj ij gh Hkqxrku o izkfIr;ksa dks
ys[kkc) fd;k tkrk gSA
¼5½ Lo & lUrqfyr&nksgjh ys[kkadu iz.kkyh] ys[kk n`f”Vdks.k ls Lor% gh Hkqxrku ‘ks”k dks
lUrqyu esa j[krh gSA
¼6½ vUrj lek;kstu & okLrfod O;ogkjksa esa tc dHkh dqy izkfIr;ksa o Hkqxrkuksa esa vUrj gks
tkrk gS rks budks lek;ksftr djus dh vko’;drk iM+rh gSA
25
Long Answer Type Questions.

Question Nos. 11 to 15 are Long Answer Type Each question is of six marks.
5×6 = 30
Q. 11. Distinguish between Micro Economics and Macro Economics and macro
Economics.
Ans. Distinction between Micro and macro Economics :
Micro Economics Micro Economics
1. It is concerned with an individual economic It deals with aggregates of economy such as
unit like a consumer, a firm, an industry or national income, aggregate expenditure, total
income of an individual. employment, general Price level, etc.
2. It is based on the assumption of full It is based on the assumption of under full
employment. employment of resources.
3. Its central problem is price determination. Its central problem is production and
4. What is true at micro level may not be true employment determination.
for macro level. Group behaviour is applicable on entire
5. It is based on the assumption of ‘ other economy.
things This is based on general equilibrium analysis.
being equal ‘. This analysis is based on
partial equilibrium. Its objective is to study the theories related with
6. Its objective is to study the the ories related full employment.
to optimum distribution of resources. Its nature is comparatively complex.
26
7. Its nature is comparatively easy. Its main instruments are aggregate demand,
8. It has main instruments of demand and aggregate supply, aggregate saving and
supply. investment.
Q. 12. Explain the distinction between Law of Demand and the Elasticity of Demand.
Ans. Demand of goods changes due to change in price of the goods but changes in demand are
not uniform in all cases. Law of Demand is only a ‘ Qualitative statement ‘ as it does not
explain the quantity of change in demand due to change in price. It only explains the
direction of the change. ‘ Elasticity of Demand ‘ is an effort by economist to present law of
demand in form of ‘ Quantitative statement ‘. We can say that, other things being equal,
elasticity of demand expresses change in quantity of demand relative to change in price of
goods. Points of difference between Law of Demand and Elasticity of Demand are :
(a) Law of demand is a ‘ qualitative statement ‘ which expresses the change in direction of
demand due to change in price of the goods while elasticity of demand is a ‘
Quantitative statement’ which measures the quantitative change in demand of goods due
to price change.
(b) Law of Demand in general conditions, indicates inverse relation between price of goods
and demand for it while elasticity of demand can be Positive or negative.
(c) Law of Demand expresses only price demand relationship, while elasticity of demand
can also measure change in income, related goods, etc.
Q. 13. Discuss the main functions of Reserve Bank of India as central Bank.
Ans. Functions of Reserve Bank of India
(1) Issue of Notes : The Reserve Bank has the monopoly of note issue in the country. It
has the sole right to issue currency notes of various denominations except one rupee
note. The Reserve Bank acts as the only source of legal tender money because the one
rupee note issued by Ministry of Finance are also circulated Through it. The Reserve
bank has adopted the Minimum Reserve system for the note issue since 1957, it
maintains gold and foreign exchange reserves of Rs. 200 crore, of which at least Rs.
115 crore be in gold.
(2) Banker to the Government : The second important function of the Reserve Bank is
to act as the banker, Agent and Adviser to the Government. It performs all the banking
functions of the state and central Government on matters related to economic and
monetary policy. It also manages the public debt for the government.
27
(3) Banker’s Bank : The Reserve Bank Performs the same function for the other banks as
the other banks ordinarily perform for their customers. It is not only a banker to the
commercial banks, but it is the lender of the last resort.
(4) Controller of credit : The Reserve Bank undertake the responsibility of controlling
credit created by the commercial banks. To achieve this objective it makes extensive
use of quantitative and qualitative techniques to control and regulate the credit
effectively in the country.
(5) Custodian of Foreign Reserves : For the purpose of keeping the foreign exchange
rates stable the Reserve Bank buys and sells the foreign currencies and also protects
the country’s foreign exchange funds.
(6) Other Functions : The bank performs a number of other development works. These
works include the function of clearing house arranging credit for agriculture, ( which
has been transferred to NABARD) collecting and Publishing the economic data,
buying and selling of Government securities and trade bills, giving loans to the
Government buying and selling of valuable commodities etc. it also acts as the
representative of Government in I.M.F. and represents the membership of India.
Q. 14. What do you mean by aggregate demand ? Distinguish between market

demand and aggregate demand.
Ans. The total demand of goods and Services in an economy is termed as ‘aggregate
demand ‘ which is expressed in terms of total expenditure made in the economy thus
aggregate demand in an Services.
In other words, aggregate demand refers to total expenditure that the
residents of a country are ready to incur on the purchase of goods and Services oat
given level of income.
Aggregate Demand = Consumption Expenditure + Investment Expenditure
AD = C + I
Difference between ‘market Demand and ‘ Aggregate Demand’
(i) Market demand refers to the demand of goods in the Market but aggregate
demand refers to the total demand of goods and Services in the economy.
28
(ii) Market demand is a ‘ micro concept while aggregate demand is a ‘ macro

concept.
(iii) Market demand curve is negatively sloped which shows the inverse relationship
between price and demand while aggregate demand curve is positively sloped
which establishes positive relationship between income and demand.
Give attention on fig. market Demand curve
Aggregate Demand Cureve
Q. 15. Define Foreign Exchange Rate, Differentiate

between fixed and flexible exchange rates.
Ans. Foreign Exchange Rate : Foreign exchange rate refers to the rate at which one
unit of currency of a country can be exchanged for the number of units of currency
of another country. In other words, it is the price paid in domestic currency in order
to get one unit of foreign currency. In other words, exchange rate expresses the ratio
of exchange between the currencies of two countries. Hence, exchange rate is the
price of a currency expressed in terms of another currency.
(i) According to sayers, “ the price of currencies in terms of each other are called
foreign exchange rate. “
(ii) According to crowther, “ The rate of exchange measures number of units of one
currency which is exchanged in the foreign market for one unit.
Or another. “
29
Distinction between Fixed Exchange Rate and flexible Exchange Rate.
Fixed Exchange Rate Flexible Exchange Rate

1. It is decided and declared by the 1. It is determined by demand and
government and it is kept stable. supply forces in international market.
2. In this system, the central bank 2. Exchange rate is freely dependent on
becomes ready to buy or sell its the working of foreign exchange
currencies at a fixed rate market and the central bank has
3. No fluctuation takes place nothing to do with it
3. Fluctuations ppear.
nh?kZ&mÙkjh; iz’u
iz’u ¼11½ Lkw{e vFkZ’kkL= ,oa O;kid vFkZ’kkL= eas vUrj Li”V dhft,A
mÙkj & lw{e vFkZ’kkL= vkSj O;kid vFkZ’kkL= esa vUrj &
¼1½ lw{e vFkZ’kkL= ds vUrxZr lw{e bZdkbZ;ksa dk tSls & fof’k”V QeZ] fof’k”V m|ksx]
fof’k”V fopkjks]a O;fDrxr dher vkSj fof’k”V oLrqvksa dk v/;;u fd;k tkrk gS
tcfd O;kid vFkZ’kkL= ds vUrxZr lewg dk v/;;u] tSls & dqy jkstxkj]
lkekU; dher Lrj] dqy mRiknu] dqy miHkksx vkfn dk v/;;u fd;k tkrk gSA
¼2½ lw{e vFkZ’kkL= dk lEcU/k dher fo’ys”k.k ls gS tcfd O;kid vFkZ’kkL= dk
lEcU/k vk; fo’ys”k.k ls gSA
¼3½ lw{e vFkZ’kkL= dk {ks= lhfer gSA lw{e vFkZ’kkL= lhekUr fo’ys”k.k ds fu;e ij
vk/kkfjr gS tcfd O;kid vFkZ’kkL= ds v/;;u dk {ks= cgqr foLr`r gSA ;g
laiw.kZ vkfFkZd fØ;kvksa dk v/;;u djrk gSA
¼4½ lw{e vFkZ’kkL= esa Hkh lewgksa dk v/;;u fd;k tkrk gSA ijUrq ;s lewg mu lewgksa
ls fHkUu gksrs gS ftudk lEcU/k O;f”V vFkZ’kkL= ls gSA tcfd O;kid vFkZ’kkL=
laiw.kZ vFkZO;oLFkk ls lacaf/kr fo’kky lewgksa ds milewgksa dks Hkh O;k[;k djrk gSA
¼5½ O;f”V vFkZ’kkL= dh fo”k;oLrq esa inkFkksZ rFkk lk/kuksa dh lkis{k dherksa dk
fu/kkZj.k rFkk mu ij vk/kkfjr lk/kuksa ds vkc.Vu dh O;k[;k lfEefyr gS nwljh
vksj] lef”V vFkZ’kkL= dh fo”k;oLrq ;g O;k[;k djrh gS fd jk”Vªh; vk; rFkk
jkstxkj dk Lrj fdl izdkj fu/kkZfjr gksrk gS rFkk jk”Vªh; vk;] mRiknu rFkk
jkstxkj esas mPpkopu fdu dkj.kksa ls gksrs gSA
30
¼6½ cM+h leL;kvksa ds lek/kku esa lw{e vFkZ’kkL= vlQy gS tcfd O;kid vFkZ’kkL=
bu fo’kky leL;kvksa dk lek/kku izLrqr djrk gSA
iz’u ¼12½ ek¡x ds fu;e ,oa ek¡x dh yksp esa vUrj Li”V dhft,A
mÙkj & fdlh oLrq dh ek¡x ml oLrq dh dher ds lkFk ifjofrZr gksrh jgrh gS fdUrq lHkh
fLFkfr;ksa esa ek¡x ds ifjorZu dh ek=k ,dleku ugha gksrhA ek¡x dk fu;e ;g ugha
crkrk fd fdlh oLrq dh dher esa ifjorZu ds QyLo:Ik mldh ek¡x esa fdruk
ifjorZu gksxk \ D;ksfa d ek¡x dk fu;e dsoy ,d xq.kkRed dFku gS ftlds dkj.k
;g dher ifjorZu ds dkj.k dsoy ek¡x ds ifjorZu dh fn’kk dks crkrk gSA ek¡x dh
yksp vFkZ’kkfL=;ksa }kjk ek¡x ds fu;e dks ifjek.kkRed dFku ds :Ik esa izLrqr djus
dk ,d iz;kl gSA nwljs ‘kCnksa esa] ge dg ldrs gS fd ek¡x dh yksp fdlh oLrq dh
dher esa ifjorZu ds lkis{k mldh ek¡x esa ifjofrZr gqbZ ek=k dks crkrh gS tcfd
vU; ckrsa leku jgrh gSA
bl izdkj ek¡x ds fu;e ,oa ek¡x dh yksp esa vUrj n’kkZusokys fcUnq fuEu
gS &
¼1½ ek¡x dk fu;e ,d ^ xq.kkRed dFku * gS tks oLrq dh dher esa ifjorZu gksus ij
ek¡x esa gksusokys ifjorZu dh fn’kk dk cks/k djkrk gS tcfd ek¡x dh yksp ,d ^
ifj.kkRed dFku * gS tks ek¡x ds fu;e esas gksusokys ifjorZu dh ek=kRed eki
izLrq djrk gSA
¼2½ ek¡x dk fu;e lkekU; n’kkvksa esa lnSo dher vkSj ek¡x ds foifjr lEcU/k dk
lwpd gS tcfd ek¡x dh yksp /kukRed ,oa _.kkRed nksuksa gks ldrh gSA
¼3½ ek¡x dk fu;e dsoy dher ek¡x ds lECkU/k dks Li”V djrk gS tcfd ek¡x dh
yksp ds }kjk vk;] lEcfU/kr oLrq vkfn esa gksus okys ifjorZuksa dk Hkh ekuuk
lEHko gSA
iz’u ¼13½ Hkkjrh; fjtoZ cSad ds dsUnzh; cSad ds :i esa eq[; dk;Z crkb,A
mÙkj & Hkkjrh; fjtoZ cSad ds dk;Z &
¼1½ uksVksa dk fuxZeu & fjtoZ cSad dks ,d :Ik, ds flDdks@ a uksVksa dks NksM+dj Hkkjr
esa fofHkUu ewY;oxZ ds uksV tkjh djus dk ,dkf/kdkj izkIr gSA fjtoZ cSad ljdkj
ds izfrfuf/k ds :Ik esa ,d :Ik, ds uksVksa rFkk flDdksa dk ns’k Hkj esa forj.k dk
dk;Z djrk gSA djsUlh uksV tkjh djus ds fy, orZeku esa fjtoZ cSad uksV
izpkyu dh U;wure fuf/k i)fr (Minimum Reserve System) dks viukrk gSA bl
i)fr ds vUrxZr fjtoZ cSad ds ikl Lo.kZ ,oa fons’kh _.ki= dqy feykdj
fdlh Hkh le; :0 200 djksM+ ds ewY; ls de ugha gksus pkfg,A buesa Lo.kZ dk
31
ewY; ¼/kkrq rFkk eqnzk feykdj½ :0 115 djksM+ ls de ugha gksuk pkfg,A ;g
i)fr fjtoZ cSad us 1957 ds ckn viukbZ FkhA
¼2½ ljdkj ds cSadj ds :Ik esa dk;Z djuk & fjtoZ cSad dk nwljk egRoiw.kZ dk;Z
ljdkj ds cSadj] ,tsUV ,oa ijke’kZnkrk ds :I esa dk;Z djuk gSA ;g dsUnzh;,oa
jkT; ljdkjksa ds lHkh cSafdax dk;ksZ dks lEiUu djrk gS rfkk ljdkj dks vkfFkZd
,oa ekSfnz uhfr lECkU/kh ekeyksa esa lykg Hkh nsrk gSA ;g ljdkj ds fy,
lkoZtfud _.k dh O;oLFkk Hkh djrk gSA
¼3½ cSadksa ds cSad ds :Ik esa dk;Z djuk & fjtoZ cSad ns’k esa vU; cSadksa ds fy, ogh
dk;Z djrk gS tks fd vU; cSad vius xzkgdksa ds fy, djrs gSA ;g O;kikfjd
cSadksa dk cSadj gh ugha cfYd vfUre _.knkrk Hkh gSA
¼4½ lk[k fu;U=.k & fjtoZ cSad O;kikfjd cSadksa }kjk fufeZr lk[k dh ek=k rFkk fn’kk
ij fu;U=.k djus dk dk;Z Hkh lEiUu djrk gSA bl mÌs’; dh izkfIr ds fy,
og ifjekxkRed o xq.kkRed mik;ksa dk mi;ksx djrk gSA
¼5½ fons’kh fofu;e ij fu;U=.k & :i, ds fofu;e ewY; dks fLFkj cuk, j[kus ds
mÌs’; ls fjtoZ cSad fons’kh eqnzk dk Ø; & foØ; djrk gS rFkk ns’k ds fons’kh
eqnzk dks”kksa dk laj{k.k djrk gSA
¼6½ vU; dk;Z & LorU=rk izkfIr ds ckn vkfFkZd fodkl ij vf/kd cy nsus ds
QyLo:Ik fjtoZ cSad ds dk;ksZ dk yxkrkj foLrkj gqvk gSA cSad }kjk fodkl
lEcu/kh vkSj Hkh cgqr ls dk;Z fd, tkrs gSA bu dk;ksZ esa lek’kks/ku x`g dk
dk;Z] d`f”k lk[k dh O;oLFkk djuk] vkfFkZd vkdM+s ,df=r djuk ,oa izdkf’kr
djuk] ljdkjh izfr=wfV;ksa o O;kikfjd fcyksa dk Ø; foØ; djuk] _.k nsuk]
ewY;oku oLrqvksa dk Ø; foØ; djuk vkfn dk;Z vkrs gSA ;g vUrjkZ”Vªh;
eqnzkdks”k esa Hkkjr dh lnL;rk ds laca/k esa ljdkj ds izfrfuf/k ds :Ik esa Hkh dk;Z
djrk gSA
iz’u ¼14½ lkewfgd ek¡x ls vki D;k le>rs gS \ cktkj ek¡x ,oa lkewfgd ek¡x esa vUrj djsaA
mÙkj & ,d vFkZO;oLFkk esa oLrqvksa vkSj lsokvksa dh lEiw.kZ ek¡x dks gh lkewfgd ek¡x dgk
tkrk gS vkSj ;g vFkZO;oLFkk ds dqy O;; ds :Ik esa O;Dr dh tkrh gSA bl izdkj]
,d vFkZO;oLFkk esa oLrqvksa ,oa lsokvksa ij fd, x, dqy O;; ds lanHkZ esa lkewfgd
ek¡x dh eki dh tkrh gSA
nwljs ‘kCnksa esa] lkewfgd ek¡x ml dqy O;; dks crkrh gS] ftls ,d ns’k ds
fuoklh vk; ds fn, gq, Lrj ij oLrqvksa ,oa lsokvksa ds [kjhnus ds fy, [kpZ djus
dks rS;kj gSA
lkewfgd ek¡x ¾ miHkksx O;; $ fuos’k O;;
AD = C + I
^ cktkj ek¡x ,oa * lkewfgd ek¡x esa vUrj &
32
¼i½ cktkj ek¡x dk vfHkizk; ,d oLrq dh cktkj esa ek¡x ls gksrk gS] tcfd lkewfgd
ek¡x dk vfHkizk; lEiw.kZ vFkZO;oLFkk esa oLrqvksa ,oa lsokvksa dh dqy ek¡x ls gksrk gSA
¼ii½ cktkj ek¡x ,d O;f”Vxr /kkj.kk gS] tcfd lkewfgd ek¡x ,d lef”Vxr /kkj.kk gSA
¼iii½ cktkj ekax oØ _.kkRed <ky okyk gksrk gS] tks dher vkSj ekax esa foijhr lEcU/k
n’kkZrk gSA mlds foojhr lkewfgd ekax oØ /kukRed <ky okyk gksrk gS tks vk;
vkSj ekax dks lh/ks /kukRed lEcU/k dks crkrk gSA
fp=ksa ij /;ku nsa % &
cktkj ekax oØ lkewfgd ekax oØ
fp= & 1 fp= & 2
iz’u ¼15½ fons’kh fofu;e nj dks ifjHkkf”kr dhft,A fLFkj rFkk ykspiw.kZ fofu;e nj esa vUrj
dhft,A
mÙkj & fons’kh fofu;e nj & fofue; n jog nj gS] ftl ij ,d ns’k dh ,d eqnzk bdkbZ dk
nwljs ns’k dh eqnzk esa fofue; fd;k tkrk gSA nwljs ‘kCnksa esa] fons’kh fofue; nj ;g
crkrh gS fd fdlh ns’k dh eqnzk dh ,d bdkbZ ds cnys esa nwljs ns’k dh eqnzk dh fdruh
bdkbZ;ksa fey ldrh gSA bl izdkj fofu;e nj ?kjsyq eqnzk ds :Ik esa nh tkus okyh og
dher gS tks fons’k eqnzk dh ,d bdkbZ ds cnys nh tkrh gSA
ls;lZ ds vuqlkj] ** pyu eqnzkvksa ds ijLij ewY;ksa dks gh fons’kh fofue; dgrs gSA **
ØkmFkj ds vuqlkj] ** fofue; nj ,d ns’k dh bdkbZ eqnzk ds cnys nwljs ns’k dh
eqnzk dh feysu okyh bdkb;ksa dh eki gSA **
fLFkj fofue; nj Ykksp’khy fofue; nj

33
1- fofue; nj ljdkj }kjk ?kksf”kr dh Ykksp’khy fofue; nj vUrjkZ”Vªh; cktkj

fLFkj ,oa tkrh gS vkSj bls fLFkj j[kk tkrk gSA esa ek¡x o iwfrZ dh ‘kfDr;ksa }kjk fu/kkZfjr
yksp’khy fofue; 2- bl O;oLFkk ds vUrxZr fons’kh dsUnzh; gksrh gSA
njksa esa vUrj & cSad viuh eqnzkvksa dks ,d fu/kkZfjr bl O;oLFkk ds vUrxZr fofue; nj
dher ij [kjhnus cspus ds fy, Lora= :i ls fons’kh fofue; cktkj esa
rRij jgrs gSA fu/kkZfjr gksrh gSA dsUnzh; cSadksa dk blesa
3- blesa ifjorZu ugha vkrsA dksbZ gLr{ksi ugha gksrkA
blesa lnSo ifjorZu vkrs jgrs gSaA
34
MODEL PAPER
d{kk & XII
set - 2
[k.M&1 (Section-1)
oLrqfu"B iz’u (objective type Question)
1x40=40
Instructions:- For Question Nos.I to 40 there are four alternative of which only one is correct.
Choose
1. How many types of elasticity of demand are ?
(A) Three (B) Five

(C) Six (D) Seven
ekWax dh yksp ds fdrus izdkj gksrs gSa
(A) rhu (B) ikWap
(C) N% (D) lkr

2. Basic reason of operating the law of Diminishing return is
(A) Scarcity of factors (B) Imperfect Substitution between factors
(C) Both A&B (D) None of these
mRifÙk ál fu;e ds ykxq gksus ds eq[; dkj.k D;k gSA
(A) lk/kukas dh lhferrk (B) lk/kuksa dk viw.kZ LFkkukiUu
(C) A vkSj B nksuks (D) blesa ls dksbZ ugh
3. Which is the first law of gossen ?
(A) Law of Demand (B) Law of Diminishing marginal utility
(C) Law of Equi-marginal utility (D) Consumer ’s surplus
xkSlu dk igyk fu;e dkSu gSA
(A) ekWax dk fu;e (B) lhekUr mi;ksfxrk ál fu;e
(C) le& lhekUr mi;ksfxrk fu;e (D) miHkksDrk dk fu;e
4. Basis of classification of market is
(A) Perfect competition (B) Imperfect competition
(C) Zero competition (D) All
Cktkj ds oxhZdj.k dk vk/kkj gS
(A) iw.kZ izfr;ksfxrk (B) viw.kZ izfr;ksfxrk
35
(C) ’kwU; izfr;ksfxrk (D) lHkh

5. Flow is a :
(A) Static Concept (B) Dynamic Concept
(C) Both A and B (D) None of these
Ikzokg gS ,d
(A) LFkSfrd /kkj.kk (B) xR;kRed /kkj.kk
6. Which one of the following is a kind circular flow ?
(A) Real flow (B) Money flow
(C) Both A and B (D) None of these
blesa ls dkSu ,d pfØ; izokg ds izdkj gS &
(A) okLrfod izokg (B) eqnzk izokg
7. What is / are factor of production ?
(A) Land (B) Labour
(C) Captial (D) All these
mRiknu ds lk/ku D;k gS ?
(A) Hkwfe (B) Je
(C) iqath (D) ;s lHkh
8. The altermative name of opportunity cost is ?
(A) Economic cost (B) Equilibrium price
(C) Marginal cost (D) Average Cost
volj ykxr dk oSdfYid uke gS &
(A) vkfFkZd ykxr (B) lUrqyu ewY;
(C) lhekUr ykxr (D) vkSlr ykxr
9. Which of the following is included in money cost ?
(A) Normal profit (B) Explicit cost
(C) Implicit cost (D) All the above
ekSfnzd ykxr esa fuEufyf[kr esa fdls lfefyr fd;k tkrk gS ?
(A) lkekU; ykHk (B) O;Er ykxrsa
(C) vO;Er ykxrsa (D) mi;qZDr lHkh
10. What is an opportunity cost ?
(A) The alternative foregon (B) The opportunity lost
(C) Transfer earnings (D) All of these
36
volj ykxr D;k gS

(A) og fodYi ftldk ifjR;kx dj fn;k x;k (B) [kks;k gqvk volj
(C) gLrkUrj.k vk; (D) buesa ls lHkh
11. A R is shown as :
(A) TR (B) Q
Q P
(C) TR (D) None of these
Q
A R iznZf’kr fd;k tkrk gS &
(A) TR (B) Q
Q P
(C) TR (D) buesa ls dksbZ ugha
Q
12. In which market product differentiation is found ?
(A) Pure Competition (B) Perfect Competition
(C) Monopoly (D) Monopolistic
fdl cktkj esa oLrq foHksn ik;k tkrk gS ?
(A) 'kq) izfr;ksfxrk (B) iw.kZ izfr;ksfxrk
(C) ,dkf/kdkj (D) ,dkf/kdkj izfr;ksfxrk
13. In which market is AR equal to MR ?
(A) Perfect Competition (B) Oligopoly
(C) Imperfect Competition (D) Monopoly
fdl cktkj esa vkSlr vk; lhekUr vk; ds cjkcj gksrh gS
(A) iw.kZ izfr;ksfxrk (B) vYif/kdkj
(C) viw.kZ izfr;ksfxrk (D) ,dkf/kdkj
14. The price of a goods is determined by ?
(A) Demand (B) Supply
(C) Both demand & supply (D) Government
fdlh oLrq dk ewY; fu/kkZfjr gksrk gS %
(A) ekWax ds }kjk (B) iwfrZ ds }kjk
(C) ekWax ,oa iwfrZ nksuks ds }kjk (D) ljdkj
15. Market price is associated with :
(A) Price of very short period (B) Normal price
(C) Permanent price (D) All the above
37
cktkj ewY; lEofU/kr gksrk gS %

(A) vfr vYidkyhu ewY; ls (B) lkekU; ewY; ls
(C) LFkk;h ewY; ls (D) buesa ls lHkh
16. What is consumption of fixed capital called ?
(A) Capital formation (B) Depreciation
(C) Investment (D) All of these
LFkk;h iwWath ds miHkksx dks D;k dgrs gSA
(A) iwWath fuekZ.k (B) ewY; ál
(C) fuos’k (D) buesa ls lHkh
17. Primary sector includes :
(A) Agriculture (B) Retail trading
(C) Small Industries (D) All the above
izkFkfed {ks= esa lfEefyr gksrk gSA
(A) d`f"k (B) [kqnjk O;kikj
(C) y/kq m/kksx (D) buesa ls lHkh
18. Which one is included in secondary sector ?
(A) Insurance (B) Manufacturing
(C) Trade (D) Banking
f}rh;d {ks= esa fuEufyf[kr esa dkSu lh lsok,Wa lfEefyr gSaA
(A) chek (B) fofuekZ.k
(C) O;kikj (D) oSfdax
19. Which one is a component of profit ?
(A) Dividend (B) Undistributed Profit
(C) Corporate Profit Tax (D) All the above
ykHk dk fuEefyf[kr esa dkSu&lk |Vd gSA
(A) ykHkka’k (B) vforfjr ykHk
(C) fu;e ykHk dj (D) mi;wZDr lHkh
20. Which one is included in National Income ?
(A) Transfer earnings (B) Sale proceeds of shares and bonds
(C) Black money (D) None of the above
jk"Vªh; vk; esa fuEefyf[kr esa fdls lfEefyr fd;k tkrk gSA
(A) gLrkUrj.k Hkqxrku (B) 'ks;j ,oa ckUM dh fcØh ls izkIr jkf’k
(C) dkys /ka/ks ls izkIr vk; (D) buesa ls dksbZ ugh
21. ‘’Money is a pivot around Which the whole economy clusters’’. Who said it ?
38
(A) Keynes (B) Robertson

(C) Marshall (D) Hawtrey
fuEefyf[kr esa fdlds vuqlkj ^êqnzk og /kqjh ] ftlds pkjks vksj leLr vFkZ foKku pDdj
yxkrk gS” ?
(A) dhUl (B) jkWoVZlu
(C) ek’kZy (D) gkVªs
22. Reserve Bank of india was established in :
(A) 1947 (B)1935
(C) 1937 (D) 1945
fjtoZ cSad vkWaQ bf.M;k dh LFkkiuk gwbZ
(A) 1947 esa (B) 1935 esa
(C) 1937 esa (D) 1945 esa
23. 14 Big scheduled commercial Blanks in india were nationalized in :
(A) 1949 (B)1955
(C) 1969 (D) 2000
Hkkjr esa 14 cMs- vuqlwfpr O;kolkf;d cSdksa dk jk"Vªhdj.k fd;k x;k %
(A) 1949 esa (B)1955 esa
(C) 1969 esa (D) 2000 esa
24. Which is associated with reforms in the banking sector ?
(A) Year 1991 (B) Narsimhan Committee
(C) Y.V Reddy committee (D) only (a) & (b)
Hkkjr esa cSafdax {ks= ds lq/kkj ls tqMk gqvk gS %
(A) o"kZ 1991 (B) ujflEge desVh
(C) okbZ - oh jsÔh desVh (D) dsoy (a) rFkk (b)
25. Monetary policy is relased with :
(A) Public Expenditure (B) Taxes
(C) Public Debt (D) Open market
ekSfnzd uhfr dk lEcU/k gS %
(A) lkoZtfud O;; ls (B) djksa ls
(A) lkoZtfud _.k ls (D) [kqys cktkj dh fØ;kvksa ls
26. Who regulates money supply ?
(A) Govt of india (B) Reserve Bank of india
(C) Commercial Bank (D) Planning Commission
eqnzk iwfrZ dk fu;eu dkSu djrk gSA
39
(A) Hkkjr ljdkj (B) fjtoZ cSasd vkWaQ bf.M;k

(C) okf.kfT;d cSd
a (D) ;kstuk vk;ksx
27. The value of MPC is :
(A) 1 (B) 0
(C) Greater then 0 but less than 1 (D)
MPC dk eku D;k gksrk gS %
(A) 1 (B) 0
(C) 0 ls vf/kd fdUrq 1 ls de (D) vuUr ¼ )
28. If MPC = 0.5 then multiplier (K) will be :
(A) ½ (B) 1
(C) 2 (D) 0
;fn MPC = 0.5 rks xq.kd (K) gksxk
(A) ½ (B) 1
(C) 2 (D) 0
29. Which one is the corrective measure for Deficient Demand ?
(A) Fiscal Measures (B) Monetary Measures
(C) Both (a) & (b) (D) None of the above
U;wu ekWax dks Bhd djus fuEufyf[kr esa dkSu&ls mik; gSA
(A) jktdks"kh; mik; (B) ekSfnzd mik;
(C) a vkSj b nksuks (D) buesa ls dksbZ ugh
30. Credit money is incereased when CRR
(A) Fall (B) Rises
(C) Both (a) & (b) (D) None of the these
Lkk[k eqnzk dk foLrkj gksrk gS tc CRR
(A) /kVrk gS (B) cBrk gS
31. Which is a component of Budget receipt ?
(A) Revenue receipt (B) Capital receipt
(C) Both (a) and (b) (D) None of the above
CktV izkfIr;ksa ds la|Vd fuEu esa ls dkSu gS %
(A) jktLo izkfIr;kWa (B) iawthxr izkfIr;kWa
(C) a vkSj b nksuks (D) mi;qZDr dksbZ ugh
32. other name of balance of payment is :
(A) Balance of trade (B) Closing balance
40
(C) Economic balance (D) None of the these

Hkqxrku 'ks"k dk nqljk uke gS %
(A) O;kikj 'ks"k (B) vfUre 'ks"k
(C) vkfFkZd larqyu (D) buesa ls dksbZ ugh
33. On which of the following Keynesian theory of employment depends upon ?
(A) Effective demand (B) Supply
(C) Production efficiency (D) None of the above
fuEufyf[kr esa ls fdl ij dhUl dk jkstxkj fl)kUr vk/kkfjr gSA
(A) izHkkoiw.kZ ekWax (B) iwfrZ
(C) mRiknu {kerk (D) mi;qZDr dksbZ ugha
34. Tax revenue of the government includes :
(A) Income Tax (B) Corporate Tax
(C) Excise Duty (D) None of the above
ljdkj ds dj jktLo ds vUrZxr fuEufyf[kr esa dkSu 'kkfey gSA
(A) vk; dj (B) fuxe dj
(C) lhek 'kqYd (D) mi;qZDr lHkh
35. Direct tax is :
(A) Income Tax (B) Gift Tax
(C) Both (a) & (b) (D) None of the above
izR;{k dj gSA
(A) vk;dj (B) migkj dj
36. In india one rupee note is issued by :
(A) Reserve Bank of india (B) Finance ministry of government
(C) State bank of india (D) None of the these
Hkkjr esa ,d :I;k dk uksV dkSu tkjh djrk gSA
(A) Hkkjrh; fjtoZ cSasd (B) Hkkjr ljdkj dk foÙk eU=ky;
(C) Hkkjrh; LVsV cSad (D) buesa ls dksbZ ugh
37. Budget may include
(A) Revenue Deficit (B) Fiscal Deficit
(C) Primary Deficit (D) All the above
ctV esa gks ldrk gS %
(A) vkxe |kVk (B) foÙkh; |kVk
(C) izkjfEHkd |kVk (D) buesa ls dksbZ ugh
41
38. Which is included in indirect tax ?

(A) Income Tax (B) Wealth tax
(C) Excise duty (D) Gift tax
fuEu esa ls dkSu vizR;{k dj gSA
(A) vk;dj (B) lEifÙk dj
(C) mRiknu 'kqYd (D) migkj dj
39. Foreign exchange rate is determined by
(A) Government (B) Barganing
(C) World Bank (D) Demand & supply forces
fons'kh foue; nj dk fu/kZkj.k gksrk gS %
(A) ljdkj nzkjk (B) eksy rksy nzkjk
(C) fo’o cSad nzkjk (D) ekWax ,oa iwfrZ 'kfDr;ksa nzkjk
40. Which items are included in balance of trade ?
(A) Invisible Item (B) Capital transfer
(C) Visible item (D) All the above
O;kikj {ks= esa dkSu&lh ensa lfEefyr gksrh gSaA
(A) v–'; ensa (B) iWawth vUrj.k
(C) –'; ensa (D) buesa ls lHkh
42
MODEL PAPER
Set - 2
Answer :-
(1) (b) , (2) (a) , (3) (b) , (4) (d) , (5) (b) , (6) (c) , (7 ) (d ) , (8) (a ) , (9) (d) , (10) (d ) , (11 ) (a)
(12) (c) , (13) (a) , (14) (c) , (15) (a) , (16) (b) , (17) (d) , (18) (b) , (19) (d) , (20) (d) , (21) (c)
(22) (b) , (23) (c) , (24) (d) , (25) (d) , (26) (b) , (27) (c) , (28) (d) , (29) (c) , (30) (a) , (31) (c) ,
(32) (c) , (33) (a) , (34) (d) , (35) (c) , (36) (b) , (37) (d) , (38) (c) , (39) (d) , (40) (c) .
43
MODEL PAPER
d{kk & XII
set – 2
Short Answer type Question
y/kq mÙkjh; iz’u
funsZ’k % iz’u la[;k 1 ls 10 rd y/kq mÙkjh; iz’u gS rFkk izR;sd ds
fy,
ds fy, 3 vad fu/kkZfjr gSA
Instructions : For Questions Nos. 1 to 10 are short answer type and each
question carries 3 mark .
Q. (1) Why does an economic problem arise ?
vkfFkZd leL;k D;ksa mRiUu gksrh gSA
Q. (2) Define marginal utility. state the law of diminishing marginal utity .
lhekUr mi;ksfxrk dks ifjHkkflr dhft, A |Vrh gqbZ lhekUr mi;ksfxrk
fu;e dh O;k[;k dhft,A
Q. (3) What is Indifference curve ?
mnklhurk oØ D;k gSA
Q. (4) What is the difference between ‘ supply ’ and ‘stock’ of a good ?
fdlh oLrq dh iwfrZ ,oa LVkWd esa D;k vUrj gSA
Q. (5) Where is the equilibrium price determined.
lkE; dher dk fu/kkZj.k dgkWa gksrk gSA
Q. (6) Distinguish between national income as current price and constant
price.
pkyw dher vkSj fLFkj dher ij jk"Vªh; vk; esa Hksn djsaA
Q. (7) What is the difference between cash credit and overdraft ?
udn lk[k rFkk vf/kfod"kZ esa D;k vUrj gSA
Q. (8) An ecnomy wants to generate additional income of RS. 8000 crores,
what amount of initial invertment will be required ,
if MPS = ( I ) 0.5 ( II ) 0.4
,d vFkZO;oLFkk :0 8000 djksM dh vfrfjDr vk; dk l`tu djuk
pkgrh gSA
crkb;s fdrus vfrfjDr fofu;ksxksa dh vko’;drk gksxh]
44
;fn MPS = ( I ) 0.5 ( II ) 0.4

Q. (9) Calculate the equilibrium level of income in the economy ?
C = 500 + ( 0.9 ) y
Investment Expenditure = 3,000
vFkZO;oLFkk esa vk; ds lUrqfyr Lrj dk ifjdyu dhft,
miHkksx C = 500 + ( 0.9 ) vk; (y)
fuos’k O;; = 3,000
Q. (10) Difference between direct tax and indirect tax .
vizR;{k dj rFkk izR;{k dj esa Hksn dhft, A
45
Long Answer type Question

nh|Z mÙkjh; iz’u
funsZ’k % iz’u la[;k 11ls15 rd nh|Z mÙkjh; iz’u gS rFkk izR;sd ds
fy, ds fy, 6 vad fu/kkZfjr gSA
Instructions : For Questions Nos. 11 to 15 are Long answer type and
each question carries 6 mark .
Q. (11) Explain the scope of micro economics.

O;f"V vFkZ’kkL= dk {ks= crkb, A
Q. (12) Why does the demand curve slope down wards ?
ekWaxoØ dk <ky uhps dh vksj D;ksa gksrk gSA
Q. (13) Explain the factors on which supply of a commodity depends.
mu rRoksa dks le>kb, ftu ij oLrq dh iwfrZ fuHkZj djrh gSA
Q. (14) What is monopoly ? Explain its fetures .
,dkf/kdkj D;k gS bldh izeq[k fo’ks"krk,Wa crk,Wa
Q. (15) Discuss the developmental functions of commercial banks.
O;kolkf;d cSadks ds fodklkRed dk;ksZa dh ppkZ dhft, A
46
MODEL PAPER
d{kk & XII
set – 2
[k.M& II ( section - II)
y/kq mÙkjh; iz’u 10x3 = 30
funsZ’k % iz’u la[;k 1 ls 10 rd y/kq mÙkjh; iz’u gS rFkk izR;sd ds
fy, ds fy, 3 vad fu/kkZfjr gSA
Instructions : For Questions Nos. 1 to 10 are short answer type and
each question carries 3 mark .
Q. (1)Whay does an economic problem arise ?
vkfFkZd leL;k D;ksa mRiUu gks gksrh gS ?
Ans :- Causes of arising economic problem are :
(1) Unlimited wants – human wants are unlimited. New wants arise as soon as
Want gets satisfied. Thus,all human wants cannot be satisfied.
(2) Difference in intensity of wants – intensity of wants differ for different goods.
Few wants are very important for a person and less important for the other.
On the basis of importance , every person keeps his unlimited wants on
different priority basis.
(3) Limited or scarce Resources – Limited or scarce resources indicate that

their demand exceeds their supply.
(4) Alternative uses of Resources – Resources are not only limited , but they
have alternative uses also . For example , electicity can be used in fans ,
light , refrigerators etc. Again in this case also problem of choice arises i.e.
how to use limited resources in different alternative uses.
(5) Problem of choice – no person , family or country can fulfill all its demand or
wants through the limited resources . Thus, they face the problem of
choice i.e. Which resources to be used in satisfying which wants and in
47
which quantity ? In other words,the problem of choice arises and this

problem of choice is also called ‘Economic Problem’ .
If is clear from above analysis that problem of choice is basically
an economic problem. If resources would have also been unlimited like
unlimited wants, then there would have been no problem of choice. In other,
words limited resources give rise to economic problems . In other words,
unlimited wants and limited resources are the two pillars on which structure of
all economic problems stand ‘’Economics’’ comes in to existence only when
problem of choice arises .
vkfFkZd leL;k mRiUu gksus ds izeq[k dkj.k gSA
(1) vlhfer vko’;drk,Wa&euq"; dh vko’;drk,Wa vuUr vkSj vlhfer gksrh gSA
,d vko’;drk ds iw.kZ gks tkus ij u;h vko’;drk,Wa mRiUu gksrh jgrh gSA
vr% euq"; dh lHkh vko’;drkvks dks lUrq"V ugh fd;k tk ldrk gS A
(2) vko’;drkvksa dh rhozrk esa varj & vko’;drk,Wa rhozrk dh –f"V ls Hkh fHkUu
gksrh gS vFkkZr izR;sd euq"; ds fy, dqN vko’;drk,Wa vf/kd egRoiw.kZ gS vkSj dqN
ds fy, de A vr% egRo ds vk/kkj ij izR;sd O;fDr viuh fofHkUu vko’;drkvksa
dks vyx&vyx izkFkfedrk ds dze esa j[k ldrk gSA
(3) lhfer ;k nqyZHk lk/ku&lk/kuksa dh lhferrk vFkok nqyZHkrk ls vfHkizk; gS fd
bldh ekWax bldh iwfrZ ls vf/kd gksrh gSA
(4) lk/kuksa dk oSdfYid iz;ksx&lk/ku u dsoy lhfer gksrs gSa cfYd buds oSdfYid
mi;ksx Hkh gksrs gSaA mnkgj.k ds fy, fctyh dk mi;ksx fctyh ds
ia[ksa]dwyj]fQzt]jks’kuh vkfn esa fd;k tk ldrk gSA vr% ;gkWa Hkh gekjs lkeus ;g
leL;k mRiUu gks tkrh gS fd ge fdl lk/ku dks fdl dke ds fy, iz;ksx djsaA
(5) p;u ;k pquko dh leL;k&dksbZ Hkh O;fDr ifjokj ;k ns’k vius lhfer lk/ku
ls viuh lHkh vko’;drkvksa dks iwjk ugha dj ldrkA vr% muds lkeus cuh jgrh g
fd og vius dkSu ls lk/ku dks fdruh ek=k esa dkSu&lh vko’;drk dh iwfrZ esa
yxk;sA vU; 'kCnksa esa] muds lkeus p;u dh leL;k mRiUu gks tkrh gS vkSj p;u
dh leL;k gh vkfFkZd leL;k dgykrh gSA
mi;qZDr foospu ls ;g Li"V gS fd p;u dh leL;k gh
vkfFkZd leL;k gSA ;fn ekuoh; vko’;drkvksa dh rjg lk/ku Hkh vlhfer gksrs rks
48
p;u dh leL;k mRiUu ugha gksrh vkSj u gh dksbZ vkfFkZd leL;kA nqljs 'kCnksa esa
lk/kuksa dh nqyZHkrk gh lHkh vkfFkZd lEkL;kvksa dh tuuh gSA la{ksi esa] vlhfer
vko’;drk,Wa ,oa lhfer lk/ku dk <kWapk [kMk gSA vfFkZd leL;k dk mn; rHkh gksrk
gS tc p;u dh leL;k ;k nqyZHkrk dh leL;k mRiUu gksrh gSA
Q. (2) Define Marginal Utility. State the law of Diminishing Marginal Utility.
lhekUr mi;ksfxrk dks ifjHkf"kr dhft,A ?kVrh gqbZ lhekUr mi;ksfxrk fu;e dh
O;k[;k dhft,A
Ans%& Marginal Utility:- Marginal Utility is the extra Utility obtained by consuming
one extra unit of consumption.Marginal Utility may be measured as the
difference between the Utility of total units of stock consumption of a
given
commodity minus that of consuming one unit less in the considered,
Symbolically
MUn=TUn-TUn-1
Law of Diminishing Marginal Utility:-According to this law, other things being
equal, as the quantity of commodity consumed or acquired by the consumer
increases, the marginal utility of the commodity tends to diminish.
lhekUr mi;ksfxrk&fdlh oLrq dh ,d vfrfjDr bZdkbZ ds iz;ksx ls tks vfrfjDr
mi;ksfxrk feyrh gS] mls lhekUr mi;ksfxrk dgrs gSa vFkkZr ,d vfrfjDr bZdkbZ
ds mi;ksx ls dqy mi;ksfxrk esa tks o`f) gksrh gS mls lhekUr mi;ksfxrk ¼MU)
dgrs gSaA lhekUr mi;ksfxrk dks fuEu <ax ls ekik tkrk gSA
MUn=TUn-TUn-1
?kVrh lhekUr mi;ksfxrk fu;e& bl fu;e ds vuqlkj tc fdlh oLrq dh ekud
bdkbZ;ksa dk yxkrkj mi;ksx fd;k tkrk gS] rc izR;sd vfrfjDr bZdkbZ ls feyus
okyh lhekUr mi;ksfxrk ?kVrh tkrh gSA
Q. (3) What is Indifference curve ?
mnklhurk oØ D;k gSA
Ans%& Indifference curve explains the consumer’s behavior related with the
combination of two goods and this consumer’s behavior is explained with
the help of ‘Indifference schedule’ or Indifference set.Various combinations
49
of two goods giving equal satisfaction to the consumer become the

component of ‘Indefference schedule’ When indifference schedule is
represented on a graph paper, we get indifference curve.
mnklhurk odz nks oLrqvksa ds fofHkUu la;ksxksa ls lEcfU/kr miHkksDrk ds
O;ogkj dh O;k[;k djrk gSA miHkksDrk dk O;ogkj mldh mnklhurk vuqlwph }kjk
iznf’kZr fd;k tkrk gSA mIkHkksDrk dks leku lUrqf"V nsus okys nks oLrqvksa ds fofHkUu
la;ksx mnklhurk vuqlwph vFkok rVLFkrk lewg cukrs gSaA blh mnklhurk vuqlwph
dks xzkQ ds :Ik esa iznf’kZr djds mnklhurk odz izkIr fd;k tkrk gSA
Q. (4) What is the difference between ‘ supply ’ and ‘stock’ of a good ?
fdlh oLrq dh iwfrZ ,oa LVkWad esa D;k vUrj gSA
Ans:- Stock refres to that quantity of goods which is available with the sellers in
the market at a particular point of time while supply refers to that quantity which
the seller is ready to sell at a particular price and a particular point of time. If the
prevailing price of goods in the maket is low, seller will supply lesser quantity
inspite of having larger stock. In other words, supply will be lower than stock at
lower price and vice-versa.
LVkWd oLrq dh og ek=k gS tks fdlh le; fo’ks"k ij cktkj esa fodzsrkvksa ds
ikl ekStqn gS tcfd iwfrZ og ek=k gS ftls fdlh fuf’pr le; esa rFkk fdlh
fuf’pr dher ij fodszrk cspus dks rRij gSA ;fn cktkj esa oLrq dh dher de
gS rks fodzsrk OkLrq dk vf/kd LVWkd j[krs gq, Hkh oLrq dh de ek=k cspus dks
rS;kj gksaxs vFkkZr oLrq dh dher de gksus ij fodzsrk vius ikl miyC/k LVkWd
ls de ek=k esa iwfrZ djsaxsA
Q. (5) Where is the equilibrium price determined.
lkE; dher dk fu/kkZj.k dgkWa gksrk gSA
Ans%& The word ‘Equilibrium’ means – absence of changing tendency. Hence,
equilibrium price refers to that situation in which changing tendency in price
determining forces becomes absent.
‘’Equilibrium price is that price which is determined by demand and
supply forces at that point where the demand of commodity and the supply of
the commodity become equal to each other’’
50
Equality between demand and supply at equilibrium price means

that the determined price is acceptable to both buyers and sellers i.e, the quantity
which the buyer wants to buy at equilibrium price will be sold by the seller at
the same price.
*lkE;* 'kCn dk vfHkizk; gS& fdlh cnyko dh izo`fRr dk vuqifLFkr gksukA vr%
lkE; dher ,slh fLFkfr dks n’kkZrh gS tgkWa dher dks fu/kZkfjr djus okyh 'kfDr;ks
esa fdlh cnyko dh dksbZ izo`fr ugha gksrh vFkZkr~ **lkE;**dher og dher gS tks
ekWax iwfrZ dh 'kfDr;ksa }kjk ml fcUnq ij fu/kZkfjr gksrh gS tgkWa oLrq dh ekWax vkSj
oLrq dh iwfrZ vkil esa cjkcj gksrh gSA
lkE; dher ij ekWax vkSj iwfrZ ?kVd vkil esa cjkcj gksus
dk vfHkizk; gS fd lkE; dher dzsrk ,oa fodzsrk nksauksa dks Lohdk;Z gksrh gS vFkZkr~
lUrqyu dher ij fodzsrk oLrq dh ftruh ek=k cspuk pkgrk gS dzsrk mlh lkE;
dher ij oLrq dh mruh gh ek=k [kjhnuk pkgrk gSA
Q. (6) Distinguish between national income as current price and constant price.
pkyw dher vkSj fLFkj dher ij jk"Vªh; vk; esa Hksn djsaA
Ans:- Difference between National Income at constant price and National Income
at
current price .
National Income of constant price National Income of current price
(1) It is termed as national income at (1) It is termed as national income at
Base year constant price. current year price.
(2) It is value of current year ‘s output at (2) It is value of current year ‘s output
Base year’s price. at current year’s prices.
(3) It show an increase only when current (3) It can also show an increase in
year ‘s output of goods and services case of no increase in production
increase. in current year.

(4) It is a reliable index of economic (4) It is not a reliable index of
growth. economic growth.
fLFkj dher jk"Vªh; vk; ,ao udn ekSfnzd vk; esa vurj &
51
fLFkj dher ij jk"Vªh; vk; pkyw dher ij jk"Vªh;

vk;
(1) bls fLFkj dherksa ij jk"Vªh; vk; (1) bls pkyw dherks jk"Vªh; vk; }kjk
}kjk iznf’kZr fd;k tkrk gSA iznf’kZr fd;k tkrk gSA
(2) ;g vk/kkj o"kZ dh dherksa ij pkyw (2) ;g pkyw o"kZ dh dherksa ij pkyw
o"kZ ds mRiknu dk ewY; gSA o"kZ ds mRiknu dk ewY; gSA
(3) blesa o`f) rHkh ntZ gksrh gS tc pkyw (3) blesa ml n’kk esa Hkh o`f) ntZ gks
o"kZ dh oLrqvksa ,oa lsokvksa ds mRiknu ldrh gS tc pkyw o"kZ dh oLrqvksa
esa o`f) ntZ gks A ,oa lsokvksa ds mRiknu esa o`f)
ntZ u gks
(4) ;g vkfFkZd fodkl dk fo’oluh; (4) ;g vkfFkZd fodkl dk fo’oluh;
lwpd gSA lwpd ugh gSA
Q. (7) What is the difference between cash credit and overdraft ?
udn lk[k rHkk vf/kfod"kZ esa D;k vUrj gSA
Ans:- The points showing the difference between the cash credit and overdraft
are:
(1) Overdraft is permitted to those customers who have current account with the
bank while cash credit can be granted to anyone .
(2) Cash credit is granted after acquiring full security while overdraft is
generally given against personal security because current account holders are
old and reliable customers of bank .
(3) Overdraft is given for very short period while cash credits are granted for a
fixed period .
(4) Interest rates charged on overdraft are higher than interest rate charged on
cash credit .
udn lk[k rFkk vf/kfod"kZ esa D;k vUrj &

(1) vf/kfod"kZ dsoy pkyw [kkrk j[kus okys O;fDr;ksa dks gh fn, tkrs gS tcfd
udn lk[k fdlh Hkh O;fDr dks nh tk ldrh gSA
52
(2) udn lk[k lnk iwjh tekur j[kus ds i'pkr~ gh nh thrh gS tcfd vf/kfod"kZ
izk;%O;fDr tekur ij ns fn, tkrs gSa D;ksafd pkyw [kkrk j[kusokys O;fDr ,oa
laLFkk, cSad ds iqjkus xzkgd gksrs gSA
(3) vf/kfod"kZ izk;% vR;Ur vYidky ds okLrs fn;s tkrs gS ] tcfd udn lk[k
izk;% ,d o"kZ ds fy, Lohdkj dh tkrh gSA
(4) vf/kfod"kZ ij C;kt dh nj udn lk[k ij yh tkus okyh nj ls vf/kd gksrh gS
D;ksafd vf/kfod"kZ vusd ckj O;fDrxr lk[k ij fn, tkrs gS A
Q. (8) An ecnomy wants to generate additional income of RS. 8000 crores , what
amount of initial investment will be required , if MPS = ( I ) 0.5 ( II ) 0.4
,d vFkZO;oLFkk :0 8000 djksM dh vfrfjDr vk; dk l`tu djuk pkgrh
gSA
crkb;s vfrfjDr fofu;ksxksa dh vko’;drk gksxh ] ;fn MPS = ( I ) 0.5 ( II )
0.4
Solution:- We know that
Y 1
K = =
I MPS
1
Y = I
MPS
Or I = Y X MPS
(1) In I = Rs 8000 crores x 0.5
= Rs 4000 crores Ans.
(2) In I = Rs 8000 crores x 0.4
= Rs 3200 crores Ans
mÙkj & ge tkurs gSa

53
Y 1
K = =
I MPS
1
Y = I or I = YXMPS
MPS
(1) esa I = : 8]000 djksM- x 0.5 = : 4,000 djksM-
(2) esa I = : 8]000 djksM- x 0.4 = : 3,200 djksM-
Q. (9) Calculate the equilibrium level of income in the economy ?

C = 500 + ( 0.9 ) y
Investment Expenditure = 3,000
vFkZO;oLFkk esa vk; ds lUrqfyr Lrj dk ifjdyu dhft,
miHkksx C = 500 + ( 0.9 ) vk; (y)
fuos’k O;; = 3,000
Ans:- Y = C+I
= 500 + 0.9 Y + 3,000
Y - 0.9Y = 3,500
0.1Y = 3,500
Y = 3,5000
Q. (10) Difference between direct tax and indirect tax .

vizR;{k dj rFkk izR;{k dj esa Hksn dhft, A
54
Ans:- Distinction between direct tax and indirect tax .

Direct taxes Indirect Taxes
(1) They are directly paid to the (1) They are paid to the government by
government by the person on one person but their burden is borne
whom it is imposed. by another person.
(2) They are generally progressive. (2) They are generally regressive.The
rate
The rate of tax increases with of tax decrease as income increases.
increase in income.
¼3½ They cannot be shifted on to others. (3) They can be shifted on to others.
izR;{k dj rFkk vizR;{k djksa esa vUrj
izR;{k dj vizR;{k dj
(1) ;s dj ftl O;fDr ij yxk;s tkrs (1) ftl O;fDr dks ;g dj pqdkuk
gSa og O;fDr gh bu djksa dk Hkqxrku iM-rk gS] og bls nwljs O;fDr ij
djrk gSA bu djksa dks fdlh vU; ij Mky ldrk gSA
Vkyk ugha tk ldrk gSA (2) ;s dj izxfr’khy ugha gksrs vkSj
(2) ;s dj izxfr’khy gksrs gSa vkSj vk; lHkh vk; oxZ ds yksxksa dks leku
esa o`f) fd lkFk buesa o`f) gksrh gSA :Ik ls ogu djus iMrs gSaA
(3) ;s vfuok;Z Hkqxrku gksrs gSaA buls (3) ;fn O;fDr mu oLrqvksa dks u [kjhns
cpk ugha tk ldrkA ftu ij dj txk;k x;k gS rks og
vizR;{k dj ls cp ldrk gSA
55
MODEL PAPER
d{kk & XII
set –
[k.M& III ( section –III )
nh?kZ mÙkjh; iz’u 5x6 = 30
funsZ’k % iz’u la[;k 11ls15 rd nh|Z mÙkjh; iz’u gS rFkk izR;sd ds
fy, 6 vad fu/kkZfjr gSA
Instructions : For Questions Nos. 11 to 15 are Long answer type and
each
Q. (11) Explain the scope of micro economics.
O;f"V vFkZ’kkL= dk {ks= crkb, A
Ans:- Scope of ‘Micro Economics’ includes mainly three theories.
(1) Theory of product pricing
(2) Theory of factor pricing
(3) Theory of Economic Welfare
(1) In Theory of Product Princing, price determination of consumption goods is
studied which includes both demand as well as supply sides.Demand side
studies the behavior and consumers while in supply side, production cost and
production conditions are included.
(2) In Theory of Factor princing, Price determination of Factors of production (i.e
rewards to factors for their contributions in production) is studied.
(3) Theory of Economic Welfare, is the central point of micro economic analysis in
which it is studied how to distribute the given quantities of goods and services
among different consumers so as to maximize the economic welfare.
O;f"V vFkZ’kkL= ds {ks= esa fuEufyf[kr rhu izeq[k fl)karksa dks lfEefyr fd;k
tkrk gS&
(1) oLrq dher fu/kZkfjr fl)kar
(2) Lkk/ku dher fu/kZkfjr fl)kar
(3) vkfFkZd dY;k.k dk fl)kar
56
(1) oLrq dher fu/kZkj.k fl)kar esa ;g foospuk dh tkrh gS fd mi;ksx dh oLrqvksa
dh dherksa dk fu/kZkju fdl izdkj gksrk gSA oLrq dher fu/kZkju esa ekWax i{k ,oa
iwfrZ i{k nksuksa dk lekos’k fd;k tkrk gSA eWakx i{k esa miHkksDrk ds O;ogkj ,oa
miHkksx dk v/;;u fd;k tkrk gS] rFkk iwfrZ i{k esa mRiknu ykxr ,oa mRiknu
n’kkvksa dks lfEefyr fd;k tkrk gSA
(2) lk/ku dher fu/kZkfjr fl)kaUr esa ;g foospuk dh tkrh gS fd oLrq mRiknu esa
iz;ksx fd;s tkus okys mRifRr lk/kuksa dh dherksa dk fu/kkZj.k fdl izdkj fd;k
tkrk gSA
(3) vkfFkZd dY;k.k dk fl)kaUr lw{e vkfFkZd fl)akUr dk ,d egRoiw.kZ dsUnz&fcUnq gS
ftlesa ;g v/;;u fd;k tkrk gS fd oLrq ,oa lsokvksa dh nh gqbZ ek=k dks
vusd miHkksDrkvksa esa fdl izdkj foHkftr vkSj vkof.Vd fd;k tk, fd vkfFkZd
dY;k.k vf/kdre gks tk,A
Q. (12) Why does the demand curve slope downwards ?
ekWaxoØ dk <ky uhps dh vksj D;ksa gksrk gS ?
Ans:- Slope of demand curve is negative, i.e. it falls from left to right which
means
less goods are brought or demanded at high prices and vice-
versa.Negative
slope of demand curve is due to following reasons:-
(1) Law of Diminishing Marginal Utility- Law of Demand is based on law of
diminishing marginal utility.According to it, marginal Utility of a good
diminishes as an individual consumers more units of goods.In other words,
as a consumer takes more units of a goods, the extra utility or satisfaction
that he derived from an extra law of diminishing marginal utility means that
the total utility increases but at a decreasing rate.
(2) Increase in Purchasing power or Income effect- When price of a goods
decreases, real income or purchasing power of consumer increases due to
which he can maintain his previous level of consumption with less
expenditure.In this way, at lower prices, more goods could be
https://www.freshersnow.com/category/govt-boards/board-model-papers/
57
purchased.On the contrary consumer decreases due to which his

consumption decreases.This kis the law of demand.
(3) Substitution Effect-Substitution effect is due to inverse relation between price
and demand of a goods. Whenever there is a change in the relative prices
of goods, a rational consumer will be induced to substitute the relatively
dearer commodity by buying the cheaper one.Such effect of the change in
relative prices of goods is thus, described as the substitution effect.
Substitution effect is the change in quantity demanded of a commodity
resulting from a charge in its price relative to the prices of other
commodities, the consumer’s real income or satisfaction level being held
constant.In this way, due to substitution effect, at low price, demand
increases and at high price demand decreases.
(4) Change in consumer Number- Change in price also affects the number of
consumers.When price decreases, number of consumers increases as
cheaper goods can be purchased by many consumers, i.e., even those
consumers start purchasing goods which were not using it earlier due to
high prices.On the contrary, when price increases, many consumers stop
consumption or decrease it due to which demand decreases i.e., low price
increases demand and high decreases it.This is the Law of Demands.
ekaWx odz dk <ky _.kkRed gksrk gS vFkZkr~ ;g odz ck,Wa ls nk,Wa uhps fxjrk
gS ftldk vFkZ gS fd dher de gksus ij vf/kd oLrq,Wa [kjhnh tkrh gS vkSj
dher vf/kd gksus ij de oLrq,Wa [kjhnh tkrh gSSA ekWax odz dh ;g
_.kkRed izo`fr fuEukafdr dkj.kksa ls mRiUu gksrh gS%&
(1) ?kVrh lhekUr mi;ksfxrk fu;e& ekWax dk fu;e ?kVrh lhekUr mi;ksfxrk
fu;e ij vk/kkfjr gSA bl fu;e ds vuqlkj miHkksDrk }kjk oLrq dh
vfrfjDr bdkb;ksa dk miHkksx djus ij OkLrq dh lhekUr bdkb;ksa dh
mi;ksfxrk dze’k% |Vrh tkrh gSA lhekUr bdkb;ksa dh |Vrh mi;ksfxrk ds
dkj.k miHkksDrk oLrq dh vfrfjDr bdkb;ksa dh dher nsuk pkgrk gSA nqljs
'kCnksa esa] tSls & tSls miHkksDrk oLrq dh vf/kd bdkb;ksa dk Ø; djsxk
oSls & oSls og oLrq dh de dher nsxk vFkkZr~ de dher ij oLrq dh
58
vf/kd ek=k tk;sxh A blh izdkj tc miHkksDrk oLrq dh de bdkb;ksa dk

mi;ksx djrk gS rc de oLrq ds dkj.k mls ÅWaph lhekUr mi;ksfxrk
feyrh gS ftlds dkj.k miHkksDrk ÅWaph dher nsus dks rS;kj jgrk gS @
nqljs 'kCnks esa ] de mi;ksx ds dkj.k ÅWaph mi;ksfxrk miHkksDrk dks oLrq
dh ÅWaph dher nsus dks izsfjr djrh gS vFkkZr~ ÅWaph dher ij de ek=k
Ø; dh tkrh gSA ;gh ekWax dk fu;e gS ftlesa dher vkSj ekWaxh xbZ
Ekk=k dk foijhr lEcU/k gksrk gSA
(2) vk;&izHkko& oLrq dk dher esa deh gksus ij miHkksDrk dh okLrfod vk;
esa o`f) gksrh gS ftlds dkj.k miHkksDrk dks viuk iwoZ miHkksx Lrj cuk;s j[kus
ds fy, igys dh rqyuk esa de O;; djuk iMrk gSA nwljs 'kCn esa] oLrq dh
dher esa deh gksus ds dkj.k miHkksDrk igys fd;s tkusokuys dqy O;; esa gh
vc oLrq dh vf/kd ek=k [kjhn ldrk gSA bl izdkj oLrq dh dher esa deh
gksus ij oLrq vf/kd dz; lEHko gks tkrk gSA ;gh ekWax dk fu;e gSA blds
foijhr oLrq dh dher o`f) ds djj.k miHkksDrk dh okLrfod vk; esa deh
gksrh gS ftlds dkj.k oLrq dk miHkksx ?kV tkrk gSA ;gh ekWax dk fu;e gS
(3) izfrLFkkiu izHkko & oLrq dh dher ,oa ekWax ds foijhr lEcU/k dk dkj.k
izfrLFkkiu izHkko gSA tc ,d gh vko’;drk dh iwfrZ nks ;k vf/kd oLrqvksa ls
lEHko gksrh gS rc vU; oLrqvksa dh dhersa fLFkr jgus dh fn’kk esa ,d oLrq
dh dher dk ifjorZu ewy oLrq ds miHkksx esa blfy, ifjorZu dj nsrk gS
D;ksafd miHkksDrk ewy oLrq ,oa LFkkukiUu oLrq ds iz;ksx vuqikr esa ifjorZu
dj nsrk gSA
(4) dzsrkvksa dh la[;k esa ifjorZu & oLrq dh dher dk ifjorZu miHkksDrk dh
la[;k dks Hkh izHkkfor djrk gSA tc fdlh oLrq dh dher esa deh gksrh gS rks
ml oLrq dk dqN ,sls miHkksDrk Hkh miHkksx djus yxrs gSa tks vkjEHk esa ÅWaph
dher ds dkj.k miHkksx djus esa vleFkZ FksA ,slh n’kk esa oLrq dh ekWax c<
tkrh gSA blds foijhr] tc fdlh oLrq dh dher esa o`f) gksrh gS rks vusd
miHkksDrk viuh lhfer vk; ds dkj.k ml oLrq dk miHkksx cUn dj nsrs gSa
ftlds dkj.k oLrq dh ekWax ?kV tkrh gSA ;gh ekWax dk fu;e gSA
Q. (13) Explain the factors on which supply of a commodity depends.

mu rRoksa dks le>kb, ftu ij oLrq dh iwfrZ fuHkZj djrh gSA
59
Ans:- According to Meyers,” We may define supply as a schedule of the amount

of
goods that’s would be offered for sale at all possible prices at any one instant of
time, or during any one period of time (e.g, a day, a week and so on ) in which
conditions of supply remain the same’’ Determinants of supply of a commodity.
(1) Price of the commodity:- There is a direct relationship between price of a
commodity and its quantity supplied.At higher price, quantity supplied will be
higher and vice-versa.
(2) Price of Related Goods:- The supply of a commodity is also indirectly affected
by the price of related goods.For example with increase in price of rice, supply
of wheat falls because increased price of rice will induce producers for
producing rice hence, wheat production will fall which further decreases the
supply of wheat .
(3) Prices of Production Factors:- Supply of a commodity is also affected by the
price of Factors used in the production of the commodity.If the factor Price
decreases, cost of production also declines, accordingly supply
increases.Conversely, if the factor price increases cost of production also
increases and supply tends to decrease.
(4) Technological level:- Technological level and its change also affects supply of
the commodity.Investment in the technique of production reduces cost of
production.Consequently profits tend to increase inducing an increase in
supply.
(5) Number of firms :- Market supply of a commodity also depends upon number
of firms in the market.Inrease in the number of firms results in the increase
market supply. On the other hand,decrease in the number of firms results in
the decrease in market supply of a commodity.
(6) Goal of the firm :- If the goal of the firm is to maximize profits, more quantity of
the commodity will be offered at higher.
60
(7) Expected Future Price:- Expected price change in the future also affects the
supply.If the producer expects price of the commodity to rise in the near future,
current supply of the commodity should reduce.
(8) Government policy :- ‘Taxation and Subsidy’ policy of the government also
affects market .market supply of the commodity. Increase in taxation tends to
reduce the supply, while subsidies tend to induce the producer to provide
greater supply of the commodity.
Izkks- es;j ds vuqlkj ^îwfrZ fdlh oLrq dh ek=kvksa dh vuqlwph gS tks
fofHkUu dherksa ij fdlh fo’ks"k le; ;k le; dh vof/k esa] mnkgj.kkFkZ ,d
fnu] ,d lIrkg vkfn ftlesa iwfrZ dh lHkh n’kk,Wa fLFkj gksa] fodz; ds fy,
izLrqr dh tk,”
oLrq dh iwfrZ ds fu/kZkfjr ?kVd %&
(1) oLrq dh dher & fdlh oLrq dh iwfrZ rFkk dher esa izR;{k lEcU/k gksrk gSA
lkekU; n’kkvksa esa dher c<us ls oLrq dh iwfrZ c<rh gS rFkk dher de
gksus ls oLrq dh iwfrZ ?kVrh gSA
(2) lEcfU/kr oLrqvksa dh dher& fdlh oLrq fo’ks"k dh iwfrZ vU; lEcfU/kr
oLrqvksa dh dher ls vizR;{k :Ik ls lEcfU/kr gksrh gS tSls pkoy dh
dher esa o`f) gksrs ls xsgwWa dh iwfrZ fxj tkrh gSA bldk dkj.k ;g gS fd
pkoy dh dher esa o`f) fueZkrkvksa dks pkoy ds vf/kd mRiknu ds fy,
izksRlkfgr djrh gSA blfy, xsgqWa mRiknu de gksxk ,oa mldh iwfrZ ?kV
tk;sxhA
(3) mRiknu lk/kuksa dh dher %& mRifr ds lk/kuksa dh dher c<us ij mRiknu
ykxr esa Hkh o`f) gks tkrh gS ftlds dkj.k mRikndks dk ykHk ?kVrk gS vkSj
os mRiknu de dj nsrs gSaA blds foijhr mRifr lk/kuksa dh dher deh
mRiknu ykxr esa deh djds iwfrZ esa o`f) djrh gSA
(4) rduhdh Lrj%& rduhdh Lrj esa ifjorZu ls uohu ,oa de ykxr okyh
mRiknu rduhdksa dk vfo"dkj gksrk gS ftlls mRiknu ykxr esa deh rFkk
oLrq dh iwfrZ esa o`f) gksrh gSA
(5) QeksZa dh la[;k%&fdlh oLrq dh cktkj iwfrZ QkeksZa dh la[;k ij Hkh fuHkZj
djrh gSA QkekZsa dh la[;k vf/kd gksus ij iwfrZ vf/kd gksrh gSA blds foijhr
QeksaZ dh la[;k de gksus ij iwfrZ de gks tkrh gSA
61
(6) QeZ ds mn~ns’; %& ;fn QeZ dk mn~ns’; ykHk dks vf/kdre djuk gS rks
dsoy vf/kd dher ij gh vf/kd iwfrZ dh tk,xhA
(7) Hkfo"; esa lEHkkkfod dher %& Hkfo"; esa oLrq dh dher esa gksus ifjorZu
dh laHkkouk Hkh iwfrZ dks izHkkfor djrh gS ;fn Hkfo"; esa oLrq dh dher
c<us dh laHkouk gks rks orZeku esa iwfrZ ?kV tkrh gSA
(8) Lkjdkjh uhfr %& ljdkj dh dj rFkk vuqnku lacU/kh uhfr;ksa dk OkLrq dh
cktkj iwfrZ ij izHkko iMrk gSA vizR;{k djksa esa o`f) gksus ds QyLo:Ik
lkekU;r% iwfrZ de gks tkrh gSA
Q. (14) What is monopoly ? Explain its fetures .
,dkf/kdkj D;k gS blldh izeq[k fo’ks"krk,Wa crk,Wa
Ans:- Monopoly is the addition to words i.e. , ‘Mono’ + ‘Poly’ i.e. single seller in
the
market.Being the single single seller in monopoly market, a firm has full
control on the supply of the commodity. In pure monopoly even no distinction
arises between ‘firm’ and ‘industry’ i.e. firm is industry and industry is firm.
Definitions
(1) According to Mc Connell,”Pure Monopoly exists when a single firm is the
sole producer of a product for which there are no close substitutes.”
(2) According to Leftwitch,”Pure Monopoly is a market situation in which a
single firm sells a product for which there are no good substitutes.The firm
has the market for the product all to itself. There are no similar products
whose price and sales will influence the monopolist’s price or sales.”
Features of Monopoly :- The main features of monopoly are as follows.
(1) Single seller and Large number of Buyers:- Monopoly market consists
single seller of the product but the number of buyers stands very large.
(2) No Close substitutes :- Monopoly firm produces such commodity which has
no close substitute and as a result the cross elasticity of demand become
zero.
62
(3) Monopolist as a price-maker :- A monopolist firm can determine both price

and quantity but not simultaneously ( i.e. either price or quantity at a
particular time).
(4) No Entry of New Firm :- The entry of new firm into the industry is strictly
prohibited.There is no competitior of monopoly firm in the market.
(5) Demand curve Negatively sloped :- Monopolist demand curve is negatively
sloped and marginal revenue (MR) is less than average revenue.The slope of
demand curve depends on elasticity of demand.
e–I
MR = A R
e
e
Or AR = M R
e–I
,dkf/kdkj nks 'kCnksa ls feydj cuk gS & ,d + vf/kdkj vFkkZr~ cktkj dh

og fLFkfr tc cktkj esa oLrq dk dsoy ,d ek= foØsrk gksA ,dkf/kdkjh
cktkj n’kk esa oLrq dk ,d vyx foØsrk gksus ds dkj.k foØsrk dk oLrq
dh iqfrZ ij fu;a=.k jgrk gSA fo’kq) ,dkf/kdkj esa oLrq dk fudV
LFkkuki= Hkh miyC/k ugha gksrkA
,dkf/kdkjh cktkj esa oLrq dk ,d gh mRiknu gksus
ds dkj.k QeZ vFkok m/kksx esa dksbZ vUrj ugha gksrk vFkkZr~ ,dkf/kdkj esa
m/kksx gh QeZ gS vFkok QeZ gh m/kksx gSA
ifjHkk"kk,Wa &
(1) izks- eSDdkWuy ds vuqlkj ^^’kq) ,dkf/kdkj dh fLFkfr ml le; gksrh gS tc
,d vdsyh QeZ ,d oLrq dk ,dek= mRiknd gksrh gS ftldk dksbZ LFkkui=
ugh gksrkA ”
(2) izks- ys¶Vfop ds vuqlkj ^^’kq) ,dkf/kdkj og cktkj n’kk gS ftlesa ,d QeZ
ml oLrq ds mRiknu dks csprh gS ftldk LFkkui= u gks A bl izdkj oLrq
63
dk laiw.kZ cktkj bl QeZ ds fy, gh gksrk gSA blesa lehiLFk oLrq,Wa ugha
gksrh ftudh dher ,oa fcØh ,dkf/kdkjh oLrq dh dher ,oa muds foØ;
dks izHkkfor dj ldsaA
,dkf/kdkj dh fo’ks"krk,Wa & ,dkf/kdkjh cktkj esa fuEufyf[kr fo’ks"krk,Wa
ik;h tkrh gS &
(1) ,d foØsrk vkSj vf/kd Øsrk & ,dkf/kdkjh cktkj esa oLrq dk ,dek=
mRiknd gksrk gS tcfd Øsrkvksa dh la[;k vf/kd gksrh gSA
(2) fudV LFkkuki=ksa dk vHkko &cktkj esa ,dkf/kdkj dk dksbZ fudV LFkkuki=
miyC/k ugha gksrk ftlds QyLo:i ,dkf/kdkjh oLrq dh ekWax dh vkM-h yksp
'kwU; gksrh gSA
(3) ,dkf/kdkjh Loa; dher fu/kkZjd & cktkj essa vdsyk mRiknd ,oa fodszrk gksus ds
dkj.k ,dkf/kdkjh viuh oLrq dh dher Lo;a r; djrk gSAnwljs 'kCnksa esa
,dkf/kdkjh dher vkSj mRiknu nksuksa dks fu/kkZfjr dj ldrk gS fdUrq
,dkf/kdkjh dher vkSj mRiknu nksuksa dks ,d le; esa ,d lkFk fu/kkZfjr ugha
dj ldrkA
(4) ubZ QeksZa ds izos’k ij izfrca/k & ,dkf/kdkj esa ubZ QekZsa dk mRiknu {ks= esa
izos’k iw.Zkr% izfrcaf/kr gksrk gSA ,dkf/kdkjh QeZ dk cktkj esa dksbZ izfr;ksxh ugha
gksrkA
(5) ekWax odz dk _.kkRed <ky & ,dkf/kdkjh ekWax odz _.kkRed <ky okyk gksrk
gS vkSj lhekUr vkxe ¼MR) vkSlr vkxe (AR) ls de gksrk gSA ekWax odz dk
<ky eWakx dh yksp (e) ij fuHkZj djrk gSA
e–I
MR = A R
e
e
Or AR = M R
e–I
Q (15) Discuss the developmental functions of commercial Banks.
64
O;kolkf;d cSadksa ds fodklkRed dk;ksZa dh ppkZ dhft,A

Ans:- In modern times, banks also provide various services related to social
welfare and economic development in the country.Banks also provide help in
trade, industry, etc.,which accelerates the pace of economic development .
such functions of Banks are:-
(1) Increase in capital productivity – Bank collects surplus money from the public
and grants loan for productive services which increases the productivity of
capital, production and national income in the economy.
(2) Investment Promotion – In modern times, big industries need huge amount of
fixed and working capital which is met by banking system and this promotes
investment in the country.
(3) Encouragement to Capital Formation – Commercial banks mobilise idle
savings of the people and invest the same in productive activities. Thus, they
help in promoting capital formation and accelerating the rate of economic
development.
(4) Increase in Employment - Banking development not only provides
employment in banking sector but due to increased investment in trade and
industry through bank loaning also increases employment level in the economy.
(5) Increase in Employment – Extending use of cheques, bank makes the
payments easier which has removed the fear of cash loss
(6) Elasticity of Monetary system – Banks extend or contract credit as per
requirement of the economy. It maintains elasticity in monetary system.
(7) Encouragement to Foreign Trade – Banks help in promoting foreign trade by
arranging foreign currency for the traders and providing various assistance to
foreign trade.
(8) Development of Enterpreneurs – In modern times, commercial banks are also
providing assistance in development an entrepreneurship in the economy by
providing loans to them.
orZeku le; esa cSad vius fofo/k ijEijkxr dk;ksZa ds vykok vusd lkekftd
dk;Z Hkh lEikfnr djrs gSaA vFkZO;oLFkk esa O;kikj]m/kksx] vkfn lHkh ds fy,
cSad vk/kqfud le; esa lgk;d gSa ftlls vkfFkZd fodkl dks xfr feyrh gSA
65
cSad ds ,sls dk;Z gSa %&

¼1½ iwWath mRikndrk esa o`f) & cSad lekt ls mudk vfrjsd /ku ysdj blh iwWath
dks cSad m/kksx&/ka/ks vkSj O;kikj vkfn dk;ksZ ds fy, m/kkj nsrs gSa ftlls iwWath
dh mRikndrk] mRiknu o jk"Vªh; vk; esa o`f) gksrh gSA
¼2½ fofu;ksx izksRlkgu & orZeku le; esa cMs iSekus ds m/kksxksa esa cMh ek=k esa
LFkk;h ,oa dk;Z’khy iwWath dh vko’;drk gksrh gS ftldh iwfrZ cSafdx O;oLFkk
ls gh gksrh gS ftlls ns’k esa fofu;ksx dks c<kok feyrk gSA
(3) iwaWth fueZk.k dk izksRlkgu & cSad yksxksa ds fuf"ssdz; dks"kksa ,oa cprksa dks
laxfBr djrs gSa vkSj mudks mRiknd dk;ksZa ds fy, miyC/k djkrs gSA Qyr%
ns’k esa iWawth fuekZ.k dks izksRlkgu feyrk gS ftlls vkfFZkd fodkl esa
o`f) gksrh gSA
(4) jkstxkj esa o`f) & caSfdx fodkl ls u dsoy caSfdx {ks= esa yksxks dks
jkstxkj ds volj izkIr cfYd cSadks }kjk iWawth fofu;ksx ] vFkZ izca| vkfn
ls O;kikj m/kksx ,oa lHkh {ks= fodkl ls jkstxkj esa o`f) gksrh gSA
(5) Hkqxrku djus esa lqfo/kk & cSadksa us psdksa dk iz;ksx c<kdj Hkqxrkuh dks ljy o
lLrk cuk fn;k gS ftlls udn eqnzk dks j[kus rFkk [kksus ds Hk; ls eqfDr fey
xbZ gSA
(6) Eqknzk iz.kkyh esa yksp & cSad nss’k esa O;kikj vkfn dh ekWax ds vuqlkj lk[k dk
izlkj ;k ladqpu djrs jgrs gSaA blesa eqnzk iz.kkyh fujUrj ykspiw.Zk cuh jgrh
gA
(7) fons’kh O;kikj dks izksRlkgu & fons’kh eqnzk dh O;oLFkk djds rFkk vk;kr&fu;Zkr
dks vusd izdkj dh lgk;rk nsdj cSad fons’kh O;kikj dks izksRlkgu nsrk gsA
(8) m/kfe;ksa dk fodkl & orZeku le; esa O;kikfjd cSad fodkl’khy ns’kksa esa
m/ke’khyrk ds fodkl esa Hkh egRoiw.kZ Hkwfedk fuHkk jgs gSaA cSad vius iznr
_.kksa }kjk m/ke’kkhyrk ds fodkl esa lg;ksx ns ldrs gSaA
66
MODEL PAPER
d{kk & XII
set - 3
[k.M&1 (Section-1)
oLrqfu"B iz’u (objective type Question) 1x40=40
Instructions:- For Question Nos.I to 40 there are four alternative of which only one is correct. Choose
Q.1. Seawater, fresh air, etc., are regarded in Economics as
(a) Giffen goods (b) Inferior goods
(c) Free goods (d) Normal goods
समु जल, ताजी हवा, आ द, के प अथशा म माना जाता है
(a) ग फेन माल (b) न न को ट का सामान
(c) न: शु क माल (d) सामा य माल
Q.2. The concept that under a system of free enterprise, it is consumers who decide what goods and services
shall be produced and in what quantities is known as
(a) Consumer Protection (b) Consumer’s Decision
(c) Consumer Preference (d) Consumer’s Sovereignty
अवधारणा मु त उ यम क एक णाल के तहत, यह उपभो ताओं को जो फैसला या माल और सेवाओं का

उ पादन कया जाएगा और कस मा ा के प म जाना जाता है क
(a) उपभो ता संर ण (b) उपभो ता का नणय
(c) उपभो ता वर यता (d) उपभो ता क सं भुता
Q.3. According to modem thinking, the law of diminishing returns applies to
(a) Agriculture (b) Industry
(c) Mining (d) All fields of production

67
मॉडेम सोच के मुता बक, रटन ासमान के कानून पर लागू होता है
(a) कृ ष (b) उ योग
(c) ख नज (d) उ पादन के सभी े
Q.4. In Economics, production means
(a) Manufacturing (b) Making
(c) Creating utility (d) Farming
अथशा म, उ पादन का मतलब
(a) व नमाण (b) बनाना
(c) उपयो गता बनाना (d) खेती करना
Q.5. Inflation occurs when aggregate supply is
(a) More than aggregate demand (b) Less than aggregate demand
(c) Equal to aggregate demand (d) None of these
मु ा फ त क दर होती है जब कुल आपू त
(a) कुल मांग क तुलना म अ धक (b) कुल मांग से भी कम
(c) कुल मांग के बराबर (d) इनमे से कोई नह ं
Q.6. ‘Golden Handshake Scheme’ is associated with
(a) Inviting foreign companies (b) Private investment in public enterprises
(c) Establishing joint enterprises (d) Voluntary retirement
गो डन हडशेक योजना ‘जुडी हुई है
(a) वदे शी कंप नय को आमं त (b) सावज नक उ यम म नजी नवेश
(c) संयु त उ यम क थापना (d) वैि छक सेवा नव ृ

68
Q.7. When a large number of investors in a country transfer investments elsewhere because of disturbed
economic conditions, it is called
(a) Transfer of Capital (b) Escape of Capital
(c) Outflow of Capital (d) Flight of Capital
जब कसी और वजह से परे शान आ थक ि थ त का एक दे श ह तांतरण नवेश म नवेशक क एक

बड़ी सं या है , यह कहा जाता है
(a) पंज
ू ी का थानांतरण (b) पंज
ू ी से छुटकारा
(c) पूंजी का ब हवाह (d) पूंजी क उड़ान
Q.8. How will a reduction in ‘Bank Rate’ affect the availability of credit?
(a) Credit will increase (b) Credit will not increase
(c) Credit will decrease (d) None of these
‘बक दर‘ म कमी ऋण क उपल धता को कैसे भा वत करे गा?
(a) े डट म व ृ ध होगी (b) े डट म व ृ ध नह ं होगी
(c) े डट कम हो जाएगा (d) इनमे से कोई नह ं
Q.9. A mixed economy works primarily through the
(a) Market mechanism (b) Central allocative machinery
(c) Market mechanism regulated by Government policy
(d) Market mechanism guided by Government participation and planning
एक म त अथ यव था के मा यम से मु य प से काम करता है
(a) बाज़ार या व ध (b) क य आवंटन मशीनर
(c) बाजार तं सरकार क नी त वारा व नय मत
(d) बाजार तं सरकार क भागीदार और योजना वारा नद शत

69
Q.10. ‘Gresham’s Law’ in Economics relates to
(a) Supply and demand (b) Circulation of currency
(c) Consumption of supply (d) Distribution of goods and services
अथशा म ‘ ेशम का कानून संबं धत’ है
(a) आपू त और मांग (b) मु ा का चलन
(c) आपू त क खपत (d) माल और सेवाओं के वतरण
Q.11. The ‘Interest Rate Policy’ is a component of
(a) Fiscal Policy (b) Monetary Policy
(c) Trade Policy (d) Direct Control
याज दर नी त‘ एक घटक है
(a) राजकोषीय नी त (b) मौ क नी त
(c) यापार नी त (d) य नयं ण
Q.12. What is referred to as ‘Depository Services’?
(a) A new scheme of fixed deposits (b) A method for regulating stock exchanges
(c) An agency for safe-keeping of securities (d) An advisory service to investors
डपॉिजटर स वसेज‘ कस प के लए जाना जाता है ?
(a) साव ध जमाओं क एक नई योजना
(b) शेयर बाजार को व नय मत करने के लए एक व ध
(c) तभू तय के सुर त रखने के लए एक एजसी
(d) नवेशक के लए एक सलाहकार क सेवा
Q.13. The term ‘Green GNP’ emphasizes
(a) Rapid growth of GNP (b) Increase in per capita income
(c) Economic development (d) Sustainable development

70
श द ‘ ीन जीएनपी‘ जोर दे ता है
(a) सकल घरे लू उ पाद का तेजी से वकास (b) त यि त आय म व ृ ध
(c) आ थक वकास (d) सतत वकास
Q.14. The outcome of ‘devaluation of currency’ is
(a) Increased export and improvement in balance of payment
(b) Increased export and foreign reserve deficiency
(c) Increased import and improvement in balance of payment
(d) Increased export and import
‘मु ा का अवमू यन‘ नतीजा है
(a) भग
ु तान के संतल
ु न म नयात और सध
ु ार म व ृ ध
(b) नयात व ृ ध और वदे शी रजव क कमी
(c) भुगतान के संतुलन म आयात और सुधार म व ृ ध
(d) नयात और आयात क व ृ ध
Q.15. What is Value Added Tax (VAT)?
(a) A simple, transparent, easy to pay tax imposed on consumers
(b) A new initiative taken by the Government to increase the tax-burden of high income groups
(c) A single tax that replaces State taxes like, surcharge, turnover tax, etc.
(d) A new tax to be imposed on the producers of capital goods
वै यू एडेड टै स (वैट) या है ?
(a) एक सरल, पारदश , आसान भुगतान करने के लए उपभो ताओं पर लगाया कर
(b) सरकार वारा कए गए एक नई पहल उ च आय वग के कर-बोझ बढ़ाने के लए
(c) एक एकल कर, अ धभार, कारोबार टै स, आ द रा य कर क जगह

71
(d) एक नया कर जो पूंजीगत व तुओं के उ पादक पर लगाया गया
Q.16. The difference between visible exports and visible imports is defined as
(a) Balance of trade (b) Balance of payment
(c) Balanced terms of trade (d) Gains from trade
नयात और आयात म दखाई दया बीच का अंतर कस प म प रभा षत कया गया
(a) यापर का संतुलन (b) भुगतान दे य
(c) यापार क ि ट से बैल ड (d) यापार से लाभ
Q.17. Given the money wages, if the price level in an economy increases, then the real wages will
(a) Increase (b) Decrease
(c) Remain constant (d) Become flexible
पैसे मजदरू को दे खते हुए, अगर अथ यव था म मू य तर बढ़ जाता है , तो वा त वक मजदरू होगी
(a) बढ़ना (b) कमी
(c) ि थर रहना (d) लचीला बनना
Q.18. A firm is in equilibrium when its
(a) Marginal cost equals the marginal revenue
(b) Total cost is minimum
(c) Total revenue is maximum
(d) Average revenue and marginal revenue are equal
एक फम संतुलन म है जब इसक
(a) सीमांत लागत सीमांत राज व के बराबर होती है
(b) कुल लागत यूनतम है
(c) कुल राज व अ धकतम है
(d) औसत राज व और सीमांत राज व के बराबर ह

72
Q.19. In the law of demand, the statement “Other things remain constant” means
(a) Income of consumer should not change
(b) Price of other goods should not change
(c) Taste of consumer should not change (d) All of the above
मांग के कानन
ू म, बयान का अथ है “दस
ू र व तए
ु लगातार ि थर ह ”
(a) उपभो ता क आय प रवतन नह ं होनी चा हए
(b) अ य व तओ
ु ं का क मत प रवतन नह ं करना चा हए
(c) उपभो ता का वाद नह ं बदलना चा हए (d) ऊपर के सभी
Q.20. Which organization collects data for the unorganized sector?
(a) NSSO (b) CSO
(c) ASI (d) RBI
कौन सा संगठन असंग ठत े के लए डेटा एक करता है ?
(a) NSSO (b) CSO
(c) ASI (d) RBI
Q.21. Scheduled Banks have to be registered with
(a) SEBI (b) RBI
(c) Finance Ministry (d) SBI
अनुसू चत बक को कसके साथ पंजीकृत होना होगा
(a) SEBI (b) RBI
(c) Finance Ministry (d) SBI
Q.22. Which of the following is not viewed as national debt?
(a) Life Insurance Policies (b) Long-term Government Bonds
(c) National Savings Certificates (d) Provident Fund
न न म से कौन सा रा य ऋण के प म नह ं दे खा जाता है ?
73
(a) जीवन बीमा पॉ ल सया (b) लंबी अव ध के सरकार बांड
(c) रा य बचत माण प (d) भ व य न ध
Q.23. The total number of nationalized banks in India is
(a) 14 (b) 19
(c) 21 (d) 30
भारत म रा यकृत बक क कुल सं या है
(a) 14 (b) 19
(c) 21 (d) 30
Q.24. The data collection for national income estimation is conducted in India by-
(a) The Finance Ministry of the Government of India
(b) The RBI
(c) The NSSO (National Sample Survey Organization)
(d) None of these
रा य आय के आकलन के लए डेटा सं ह वारा भारत म यह कसके वारा आयोिजत कया जाता है
(a) भारत सरकार का व मं ालय
(b) भारतीय रजव बक
(c) एनएसएसओ (रा य नमन

ू ा सव ण संगठन)
(d) इनमे से कोई नह ं
Q.25. A country’s balance of trade is unfavorable when-
(a) Exports exceed imports (b) Imports exceed exports
(c) Terms of trade become unfavourable (d) None of these
एक दे श के यापार का संतल
ु न तकूल है जब
(a) नयात आयात से अ धक (b) आयात नयात से अ धक

74
(c) यापार क शत तकूल हो जाती ह (d) इनमे से कोई नह ं
Q.26. The annual record for all the monetary transactions of a country with other countries of the world is
known as
(a) Balance of trade (b) Balance of monetary-receipts
(c) Balance of payments (d) Balance Sheet
द ु नया के अ य दे श के साथ एक दे श के सभी मौ क लेनदे न के लए वा षक रकाड के प म जाना जाता है
(a) यापर का संतल

ु न (b) मौ क- ाि त का शेष
(c) भुगतान का संतुलन (d) तुलन प
Q.27. Bank-rate is the rate at which
(a) a commercial bank borrows loans from some other commercial bank
(b) the central bank borrows loans from the Government
(c) the commercial bank gives loans to the public
(d) the central bank re-discounts the commercial bills brought to it by the commercial banks
बक–दर ऐसी दर है जो
(a) एक वा णि यक बक कुछ अ य वा णि यक बक से ऋण उधार लेता है
(b) क य बक ने सरकार से ऋण उधार लेता है
(c) वा णि यक बक जनता के लए ऋण दे ता है
(d) क य बक ने फर से छूट वा णि यक बल वा णि यक बक वारा यह करने के लए लाया
Q.28. Who among the following has suggested tax on expenditure?
(a) Dalton (b) Kaldor
(c) Musgrave (d) Gautam Mathur
न न ल खत म से कसने यय पर टै स का सुझाव दया है ?
(a) डा टन (b) का डोर

75
(c) मुसगरावे (d) गौतम माथरु
Q.29. In calculating National Income which of the following is included?
(a) Services of housewives (b) Pensions
(c) Income of smugglers (d) Income of watchmen
रा य आय क गणना म जो न न म से शा मल है ?
(a) ग ृ ह णय क सेवा (b) पशन
(c) त कर क आय (d) चौक दार क आय
Q.30. In a Laissez-faire economy
(a) the customers take all the decisions regarding production of all the commodities
(b) the Government does not interfere in the free functioning of demand and supply forces in the market
(c) the private-sector takes all the decisions for price-determination of various commodities produced
(d) the Government controls the allocation of all the factors of production
एक अह त ेप अथ यव था म
(a) ाहक को सभी व तुओं के उ पादन के संबंध म सभी नणय लेने के लए
(b) सरकार ने बाजार म मांग और आपू त के बल के लए वतं कामकाज म ह त ेप नह ं करता है
(c) नजी े का उ पादन व भ न व तुओं के मू य- नधारण के लए सभी नणय लेता है
(d) सरकार ने उ पादन के सभी कारक के आवंटन को नयं त करता है
Q.31. What is referred to as “Depository Services” ?
(a) A new scheme of fixed deposits (b) A method of regulating stock exchanges
(c) An agency for safe-keeping of securities (d) An advisory service to investors
डपॉिजटर स वसेज कसे कहा जाता है ?
(a) साव ध जमाओं क एक नई योजना (b)शेयर बाजार को व नय मत करने का एक तर का
(c) तभू तय के सुर त रखने के लए एक एजसी (d) नवेशक के लए एक सलाहकार क सेवा

76
Q.32. Economic rent refers to
(a) Payment made for the use of labour (b) Payment made for the use of capital
(c) Payment made for the use of organization (d) Payment made for the use of land
आ थक कराया संद भत करता है
(a) म के उपयोग के लए कए गए भुगता (b) पूंजी के उपयोग के लए बनाया भुगतान
(c) संगठन के उपयोग के लए कए गए भुगतान (d) भू म के उपयोग के लए कए गए भुगतान
Q.33. Average Revenue means
(a) the revenue per unit of commodity sold (b) the revenue from all commodities sold
(c) the profit realized from the marginal unit sold (d) the profit realized by sale of all commodities
औसत राज व का अथ है
(a) कमो डट क त यू नट राज व बेचा (b) सभी व तओ

ु ं से राज व बेचा
(c) लाभ सीमांत इकाई से एहसास बेचा (d) सभी व तुओं क ब के वारा लाभ महसूस कया
Q.34. The measure of a worker’s real wage is
(a) The change in his productivity over a given time
(b) His earnings alter deduction at source
(c) His daily earnings (d) The purchasing power of his earnings
एक कायकता क वा त वक मजदरू कैसे मापते है
(a) एक नि चत समय पर उनक उ पादकता म प रवतन
(b) उनक कमाई ोत पर कटौती म प रवतन
(c) उनक दै नक कमाई (d) उसक कमाई क य शि त
Q.35. When there is one buyer and many sellers then that situation is called
(a) Monopoly (b) Single buyer right
(c) Downright (d) Double buyers right

77
जब एक खर दार और कई व े ताओं हो तो उस ि थ त को या कहा जाता है
(a) एका धकार (b) एकल खर दार सह
(c) सवथा (d) डबल खर ददार सह
Q.36. The standard of living in a country is represented by its:
(a) poverty ratio (b) per capita income
(c) national income (d) unemployment rate
एक दे श म जीवन तर को कैसे अपने वारा त न ध व कया जाता है :
(a) गर बी का अनुपात (b) त यि त आय
(c) रा य आय (d) बेरोजगार दर
Q.37. Buoyancy of a tax is defined as
(a) percentage increase in tax revenue/percentage increase in tax base
(b) increase in tax revenue/ percentage increase in tax coverage
(c) increase in tax revenue/increase in tax base
(d) percentage increase in tax revenue/ increase in tax coverage
एक कर क उछाल को प रभा षत कया गया है
(a) कर राज व म तशत व ृ ध / कर आधार म तशत व ृ ध
(b) कर राज व म व ृ ध / कर कवरे ज म तशत व ृ ध
(c) कर राज व म व ृ ध / कर आधार म व ृ ध
(d) कर राज व म तशत व ृ ध / कर कवरे ज म व ृ ध
Q.38. One of the essential conditions of Monopolistic competition is
(a) Many buyers but one seller (b) Price discrimination
(c) Product differentiation (d) Homogeneous product
एका धकार तयो गता के आव यक शत म से एक है

78
(a) कई खर दार ले कन एक व े ता (b) मू य भेदभाव
(c) उ पाद म भ नता (d) सजातीय उ पाद
Q.39. Which of the following results by dividing national income by size of population?
(a) Per capita income (b) Subsistence level
(c) Subsistence expenditure (d) Per capita production
न न म से कौन सा प रणाम जनसं या के आकार के वारा रा य आय को वभािजत करता है ?
(a) त यि त आय (b) जीवन नवाह – तर
(c) नवाह यय (d) त यि त उ पादन
Q.40. Which of the following taxes is such which does not cause rise in price?
(a) Import duty (b) Income tax
(c) Octorol (d) Sales tax
न न ल खत कर म जो इस कार क क मत म व ृ ध का कारण नह ं है?
(a) आयात शु क (b) आयकर
(c) ऑ टरॉल (d) ब कर

79
MODEL PAPER
set - 3
Answers :-
1 (c) , 2 (d) , 3 (d) , 4 (c) , 5 (b) , 6 (d) , 7 (d) , 8 (a) , 9 (d) , 10 (b) , 11 (b) , 12 (c) , 13 (d) ,
14 (a) , 15 (c) , 16 (a) , 17 (b) , 18 (a) , 19 (d) , 20 (a) , 21 (b) , 22 (a) , 23 (b) , 24 (c) , 25 (b) ,
26 (c) , 27 (d) , 28 (b) , 29 (d) , 30 (b) , 31 (c) , 32 (d) , 33 (a) , 34 (d) , 35 (b) , 36 (b) , 37 (c) ,
38 (c) , 39 (a) , 40 (b) .

80
MODEL PAPER
d{kk & XII
vFkZ’kkL= ( okf.kT;) & Economics (Commerce)
set – 3
[k.M& II ( section –II )
yÄq mÙkjh; iz’u 5x6 = 30
funsZ’k % iz’u la[;k 1ls10 rd yÄq mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
Instructions : For Questions Nos. 1 to 10 are Short answer type and each
Q.1. Economic problem is basically a problem of Choice. How?
vkfFkZd leL;k eqyr% pquko dh leL;k gS A dSls \
Q.2. What does the shifting of production possibility curve towards left represent?
mRiknu lEHkkouk odz dk ckbZ vksj f[kldko D;k izdV djrk gS \
Q.3. Explain the three important factors affecting the demand.
ekWx dks izHkkfor djus okys rhu izeq[k rRoks dh O;k[;k dhft, A
Q.4. Explain the concept of opportunity cost.
volj ykxr dh vo/kkj.k Li"V dhft, \
Q.5. Explain the circular flow of income.
vk; dk pdzh, izHkko le>kb, \
Q.6. What is marginal propensity to consume? In what way it is related to Marginal
propensity to save?
lhekUr miHkksx izo`fr D;k gS \ ;g fdl izdkj flekUr cpr izo`fr ls
laoafg/kr gS A
Q.7. What is primary deficit? What does zero primary deficit shows?
izkFkfed ?kkVk D;k gS ‘’kwU; izkFkfed ?kkVk D;k n’kZrk gS \
Q.8. Distinguish between current account and capital account of Balance of
Payments.
Hkqxrku ’kks"k ds pkyq [kkrk vkSj iwWth [kkrk es vUrj crkb, \
Q.9. When exchange rate of foreign currency rises, its supply rises. How? Explain.
tc fons’kh eqnzk dh fofue; nj c<+rh gS rks mldh iwrhZ c<+rh gS Ale>kb, dSls \
81
Q.10. Explain the leakages and injection in the circular flow of money.
vk; ds pdzh; izokg es gksus okys fjlko ,oa vUr% {ksi.k Li"V dhft, \
82

nh/k± mÙkjh; iz’u
5x6 = 30
funsZ’k % iz’u la[;k 11ls15 rd nh/k± mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
Instructions : For Questions Nos. 11 to 15 are Long answer type and each
question carries 6 marks .
Q.11. Mention the uses of Demand and Supply curves in prize determination of a
factor.
lk/u fder ds fu/kkj.k esa ekWx ,oa iwrhZ odzks ds mi;ksx dk o.kZu djss \
Q.12. In an economy MPC is 0.65 and increases in investment is 90 crore. Claculate
increase in total income and consumption expenditure.
,d vkFkZO;oLFkk esa flekUr mi;ksx 0-65 gS rFkk fuos’k es 90 djksM+ :Ik;s dh o`f} dh tkrh gS A dqy vk;
rFkk dqy miHkksx O;; esa gksus okyh o`f} dh x.kuk dhft, \
Q.13. Define Budget. What are the objectives of Budget?
ctV dh ifjHkk"kk nhft, A ctV ds D;k mns’; gS \
Q.14. Explain factors affecting the price Elasticity of Demand.
ekWx dh dher yksp dks izHkkfor djus okys rRoks dk mYys[k dhft, \
Q.15. Explain the Importance of money.
eqnzk dk egRo crkb;s \
83
MODEL PAPER
d{kk & XII
vFkZ’kkL= (Economics)
set – 3
[k.M& II ( section –II )
yÄq mÙkjh; iz’u 5x6 = 30
funsZ’k % iz’u la[;k 1ls10 rd yÄq mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
Instructions : For Questions Nos. 1 to 10 are Short answer type and each
Q.1. Economic problem is basically a problem of choice how?
vkkfFkZd leL;k eqyr% pqukc dh leL;k gS dSls \
Ans. Wants are unlimited and resources are scare. Due to alternative uses of limited
resources, efforts are made to create balance between unlimited wants and
limited resources. Due to this effort, problem of choice arises. In this way,
economic problem is basically a problem of choice.
mŸkj %&vo’;drk,Wa vlhfer vkSj lk/ku lhfer gksrs gS A lhfer lk/kuksa ds oSdfYid iz;ksx gksus ds
dkj.k bu lk/kuksa ,oa vlhfer vko’drkvksa ds chp ,d larqyu cukus dk iz;kl fd;k tkrk gS
vkSj blh iz;kl ls pquko dh leL;k mRiUu gksrh gS A bl izdkj vkfFkZd leL;k eqyr% pquko
dh leL;k gS A
Q.2. What does the shifting of production possibility curve towards left represent?
mRiknu lEHkkouk odz dk ckbZ vsj f[kldko D;k izdV djrk gS \
Ans. Resources get Decreased : Due to decrease in resources

production of both goods X and Y decreases
and as a result, production possibility curve At given resources
P
Shifts to left from its original position. At

decreasing
Goodsy P,
resources
In Fig., PP is given
Production possibility curve. Due r decrease
O P, P Goods X
84
in resources , curve PP shifts to left and new production

possibility curve becomes P, P,
mrj%&
PP odz ckbZksj
v rc f[kld tkrk gS tSlk fd layXu fp=kPPesa
ls gVdj P, P gkstkrk gS A
tc
(d) vFkZO;oLFkk ds lalk/u ?kV tkrs gS
P
tSls e'khujh dh VqV& iQqV ;k pyu
VSad P,
ls ckgj gks tkuk] fdlh izkd`frd lalk/u
dk lekIr gks tkuk] midj.k o e'khu ds
iqtsZ u feyuk vkfn gksus

PP ls
odz ckbZ vksj O xsg¡q X
f[kl d tkrk gS A
([k) tc mRiknu dh rduhd iqjkuh o vizpfyr gks tkrh gS A iQyLo:i vFkZO;oLFkk d
mRiknu {kerk fxj tkrh gs A PP

vr%od dk ckbZ vksj f[klduk n'kkZrk gS A
PP odz dsf[kldus ds nks eq[; dkj.k gS &

la{ksi esa ge dg ldrs gS fd
(i) vkSj(ii) miyC/ rduhd ;k ikS/kSfxdh esa ifjoZru

Q.3. Explain the three important factors affecting the demand.
dks izHkkfor djus okys rhu izeq[k rRoks dh O;k[;k dhft, A
ekWx
Ans. Three factors affecting demand: -
(I) Utility of the Goods – Utility means want satisfying power of a commodity.
It is a subjective factor which varies from person to person. Goods having
greater or more utility will be in greater demand and vice- versa .
(II) Income Level – Income Level directly affects demand. Higher the level of
income, higher will be the demand and lower the level of income, lesser will
be the demand.
(III) Distribution of Wealth – Distribution of wealth also affects demand. If the
distribution of wealth in society is unequal, then luxurious goods will be
demanded by affluent section of society. But as the distribution of wealth
85
becomes equal, there will be increased demand of necessary and

comfortable goods.
ekWx
dks izHkkfor djus okys eq[; rRo gS &
(i) oLrq dh dher & oLrq dh dher ekWx dks eq[; :i ls izHkkfor djrh gS A
de dher ij oLrq dks vf/d ekWx rFkk vf/d dher ij oLrq dh de ekWx gksrh gS A
(ii) vk; Lrj & vk; Lrj dk ekWx ij izR;{k izHkko iM+rk gS A miHkksDrk dh vk;
ftruh vf/d gksxh mldh ekWx mruh gh vf/d gks tk;sxh rFkk blds foifjr vk; d
de Lrj ekWx dks de dj nsxk A
(iii) :fp iQS'ku vkfn& oLrq dh ekWx ij miHkksDrk dh :fp ] mldh vknr] izpfyr
iQS'ku vkfn dk Hkh izHkko iM+rk gS A fdlh oLrq fo'ks"k dk lekt esa iQ
fuf'pr :i ls mldh ekWx esa o`f} gksxhs A

Q.4. Explain the concept of Opportunity cost.
volj y kxr dh vo/kj.k Li"V dhft, A
Ans. Austria economists modified the concept of ‘Real cost’ and presented the
concept of opportunity cost. Resources are limited to unlimited needs and
hence the production of one goods means the sacrifice of the other.
According to Benham, “ The opportunity cost of
anything is the next best alternative that could be produced instead by the
same factors or by equivalent group of factor costing the same amount of
money.”
Hence, opportunity cost of a factor refers to its
value available in its next best alternative use.
The concept of opportunity cost can be

explained with an example. A person can obtain three services: Defee
college Lecturer (Salary Rs. 40,000), Bank officer (Salary Rs. 28000) and
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sales officer (Salary Rs. 20,000). The person will not opt the job of a Degree
college Lecture and sacrifice two another available Jobs. The nect best
alternative sacrificed by the person is the Job of bank officer with salalry of
Rs. 28,000. Hence, the opportunity cost of selected Job (Salary Rs. 40,0000)
is Rs. 28,000 (i.e., the salary of next best alternative).
vFkZ'kkfL=k;;ksa us okLrod ykxr ds fopkj esa la'kkls/u fd;k vkSj bUg
vkfLVª;u
ykxr ds LFkku ij volj ykxr dk iz;ksx fd;k vFkZ'kkL=k dk ekSfyd fl}kUr ;g g
vkfFkZd lk/u vko';drkvksa dh rqyuk esa lhfer gksrs gS A vr% fdlh oLrq ds mRik
& nwljh oLrq ;k oLrqvks ds mRiknu ls oafpr gksuk A csUge ds 'kCnks es ^^ fdlh
ykxr og loZJs"B fodYi gS ftldk mRiknu mUgh mRifr lk/uksa }kjk mlh ykxr ij m
ds fodYi ds :i esa fd;k tk ldrk gS A **
bl izdkj] fdlh lk/u dh volj ykxr dk vfHkizk; ml
lk/u ds nwljs loZJs"B oSdfYid iz;ksx es feyusokys eqY; ls gS A volj ykxr ds mi;q
fopkj dks ,d dkYifud mnkgj.k }kjk O;Dr fd;k tk ldrk gS A viuh ;ksX;rk rFkk Je ds
vk/kj ij ,d O;fDr dks rhu ukSdfj;kW fey ldrh gS & fMxzh dkWyst ysDpjj ( osru j 4
ekfld) cSd vkWfiQlj (osru j 28000 ekfld) rFkk lsYl vkWfiQlj osru j 20000 ekfld )
LokHkkfod gS fd vU; ckrksa ds leku jgrs gq, og O;fDr fMxzh dkWyst ds izoDrk i
pqusxk A bl pquko ds nks fodYi gS & j 28000 ekfld osru rFkk j 20000 ekfld osru
vU; nks in ijUrq bu nksuksa inksa esa Js"V j 28]000 ekfld okyk in gS rFkk ;gh pqu
oSdfYid vFkok volj ykxr dgyk;sxh A
Q.5. Explain the Circular flow of Income.

87
vk; dk pdzh; izokg le>Qkb, A
Ans. Production is the result of collection efforts of various factors of production.

Factors engaged is production process get their award land, labour capital and
entrepreneurship get rent, wage, interest and profit respectively commercial
firms make use of these factors for producing goods and services. These
factors of production are not only suppliers of factors of producers, but they are
consumers also. These factors earn their income on consumption commercial
firms sell their product, earn income and again spend on completing production
activity Thus, flow of income, income to consumption, consumption to
expenditure and again expenditure to income and production. Thus, circular
flow of income earning economic activities takes place in the economy.
Hence the circular flow of income refers to flow of

money income or the flow of goods and services across different sectors of the
economy in a circular flow.
88
knu ds fofHkUu lk/uksa ds ikjLifjd lg;ksx ls mRiknu dk;Z lEiUu gksrk gS mRi
mRi
lk/uksa dks izfriQy izkIr gksrk gS tSls &mRiknu Hkwfe dks yxku ] Je dks etnqjh
dks C;kt vkSj lkglh dks ykHk AO;olkf;d iQesZ bu mRiknu O;; vk; lk/uksa d
mi;ksx ls oLrqvksa ,o lsokvksa dk mRiknu djrh gS A mRiknu lk/uksa ds Loke
iwfrZdrkZ gh ugh] oju ;s lkFk& lkFk miHkksDrk Hkh gksrs gS A vr% os lk/uk
miHkksx ij O;; djrs gS A blls O;ogkfjd iQeksZ dks oLrqvksa vkSj lsokvksa dh
izkIr gksrh gS ftldks os iqu% oLrqvksa vkSj lsokvksa ds iqu:iknu ds fy, mRiknu
djrs gS A bl izdkj vk; pdzh; gksrk gS A mRiknu izfdz;k ds vUrxZr oLrqvks rFk
izokg ds iQyLo:i lk/u vk; dk l`tu gksrk gS A mRiknu vk; dks vk; O;; dks
fiQj og O;; mRiknu dks vkSj mRiknu iqu% vk; dks tUe nsrk gS bl izdkj mRiknu
vUrxZr lwftr vk; dh O;k[;k vk; ds pdzh; izokg dss :i es dh tk ldrh gS A bl izdkj
vkfFkZd fdz;kvksa dk ;g pdz pyrk gs A

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Q.6. What is marginal propensity to consume ? In what way it is related to marginal

propensity to save?
lhekUr miH
kksx izo`fr D;k gS \ ;g fdl izdkj lhekUr cpr izo`fr ls lEcfU/r gS
Ans. Marginal propensity to consume: - The ratio between the change in
consumption and change in income is termed as marginal propensity to
consume.
According to Kurihara, “ Marginal propensity to consume is the ratio
of a change in consumption to a change in income.”
Marginal Propensity =
to consume (PPC)
Relation between MPC and MPS

 The addition between marginal propensity to consume (MPC)
and marginal propensity to save (MPS) is equal to one.
MPC + MPS = 1
because
or, 1 = MPC + MPS

 MPC is less than unity but more than zero
 MPC can be calculated when MPC is known .
MPS = 1 – MPC
(because MPC + MPS = 1)
 Similarly MPC can be calculated when MPS is known.
MPC = 1 – MPS
(because MPC + MPS = 1)
90
lhekUrmi;ksx izo`fr& dqy miHkksx Lrj esa ifjoZru dk dqy vk; es ifjoZru ls vuq
miHkksx izo`fr dgykrk gS A dqjhgjk ds vuqlkj] ^^ lhekUr miHkksx izoqfr miHk
rFkk vk; esa gksusokys ifjoZru dk vuqikr gS A **
lw=k :i esa ]
lhekUr miHkksx izo`fr

MPC() miHkksx es ifjoZru ()
vk; es a ifjoZru ( )
lhekUr miH
kksx izo`fr ,oa lhekUr cpr izo`fr es lEcU/
lhekUr miHkksx izo`fr

( MPC ) rFkk lhekUr cpr izo`fr O;;
( MPC ) vk; dk ;ksx
lnSo bZdkbZ ds cjkcj gksrk gS A

MPC + MPS = 1
D;ksafd
1 = MPC + MPS
- MPC lekUI; bZdkbZ ls de rFkk 'kwU; ls vf/d gksrh gS A
- MPC Kkr gksus ij

MPC fudkyk tk ldrk gS A
MPS = 1 – MPC
(D;k safdMPC + MPS = 1 )
- blh izdkj MPS Kkr gksus ij

MPC fudkyk tk ldrk gS A
MPC = 1 – MPS
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(D;k safdMPC + MPS = 1 )

Q.7. What is Primary deficit? What does zero primary deficit shows?
izkFkfed ?kkVk D;k gS \ 'kwU; izkFkfed ?kkVk D;k n'kkZrk gS \
Ans. Primary deficit is the difference between fiscal deficit and interest payment.
Primary deficit indicates how much government borrowing is going to meet

expenses other than interest payment. It reflects the extent to which future
burden is increasing.
Zero Primary Deficit : - Indicator of Fiscal Discipline: -
The Zero primary deficit signifies that the government has to resort to borrowing
only to fulfill its earlier commitments of interest payments. In other words, the
government is not adding to the existing loans for the purpose other than
meeting its existing obligation of interest payment. It is a sign of fiscal discipline
or fiscal responsibility on the part of the government High Primary deficit, on the
other hand, reflects fiscal irresponsible of the government.
izkFkfed ?kkVk jktdks"kh; ?kkVs rFkk Hkqxrku fd;s tkus okys C;kt dk varj gS A
(izkFkfed ?kkVk ;k ldy izkFkfed ?kkVk )
(jktdks"kh; ?kkVk ) (C;kt Hkqxrku )
izkFkfed ?kkVk ;g Li"V djrk gS fd ns'k dh ljdkj dks fdrus =kQ.k
vko';drk gSA izkFkfedd ?kkVk ls ;g Hkh Kkr gksrk gS fd ljdkj dks C;kt ds Hk
vfrfjDr vius vkSj [kpsZ pykus ds fy, fdrus =kQ.k dh vko';drk gS A 'kwU; izkFkf
jktdks"kh; vuq'kklu dk lwpd& 'kwU; izkFkfed ?kkVk ;g li"V gksrk gS fd ljdkj ds
=kQ.k ys jgh gS rkfd og vius C;kt ds Hkqxrku nkf;Ro dks iwjk dj lds A nwljs 'kC
izkFkfed ?kkVk gksus ij ljdkj C;ktHkqxrku ds vius nkf;Ro ds vfrfjDr fdlh vU; m
fy, vius orZeku =kQ.kksa esa o`f} ugh dj jgh gS A 'kwU; izkFkfed ?kkVk jktdk
lwpd gS rFkk blds foifjr mQWpkk izkFkfed ?kkVk jktdks"kh; Lrj ij xSj& ftEesnk
Q.8. Distinguish between Current account and Capital account of Balance of
Payments.
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xrku 'ks"k ds pkyq [kkrk vkSj iwWth [kkrk esa vUrj crkb, A
Hkq
Ans. Distinction between Current Account and Capital Account of Balance of

Payment.
(I) Current account includes import-export of goods and services and
unilateral transfers from one country to other, while capital
account includes all such transaction between residents of a
country and rest of the World which cause a change in assets or
liability status of the residents of a country and its residents.
(II) Transaction in current account take place in the form of flow while
in capital account it takes place as stock.
(III) Transaction related to current account bring change in current
income of the country while transaction related to capital
account affect capital stock of the country.
Hkqxrku 'ks"k ds pkyw [kkrk vkSj iwWth [kkrk esa varj &
(i) pkyw [kkrs esa oLrqvks vkSj lsokvksa ds vk;r& fu;kZr vkSj ,di{kh; varj.k
gksrk gS ftuesa iwWth [kkrs esa os lHkh ysu nsu ntZ gksrs gS ftuesa ,d n
}kjk 'ks"k fo'o ls iwWthxr ifjlEifr;ksa rFkk nkf;Roksa dk vknku iznku gksrk
(ii)pkyw [kkrs ds ysu& nsu izokg ds :i es gksrs gS ] tcfd iwWth [kkrs ds ysu&
:i es gksrs gS A
(III)pkyw [kkrs lEcU/h ysu& nsu ns'k dh pkyw vk; esa ifjoZru ykrs gS] tcfd i
ds ysu& nsu ns'k ds iwWth LVkWd dks izHkkfor djrs gS A

Q.9. When exchange rate of foreign currency rises, its supply rises. How? Explain
tc fons'kh eq
nzk dh fofue; nj c<+rh gS rks mldh iwfrZ c<+rh gS A le>kb,] dSls \
Ans. Supply of foreign exchange represents the functional relationship between
foreign exchange rate and supply of foreign exchange e.g., with rise of
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foreign exchange rate, supply of foreign exchange increases and vice-versa.

The supply curve SS indicates that at higher exchange rates larger amount of
foreign exchange are offered for sale . For example, when rate of exchange
goes up from OR to OR, supply of foreign exchange increases from OQ to
OQ, and on the other hand, when exchange rate comes to OR, supply of
foreign exchange also declines to OQ, . The positive slope of supply curve
shows that when exchange rate of dollar in terms of rupees rises (Which also
means that exchange rate of rupee in terms of dollar’s falls), the Indian
exporters will increase the supply of dollars and vice-vers.
S
Y
Price of Foreign Exchange
R2
R1
S
O Q1 Q Q2 X
Quantity of Foreign Exchange
fons'kh fofue; dh iwfrZ fons'kh fofue; nj vkSj fons'kh fofue; dh iwfrZ ds chp iQyuk
lEcU/ ds dkj.k fons'kh fofue; nj vkSj iwfrZ ek=kk es izR;{k lEcU/ gksr gS vFkkZ
c<+kus ij fons'kh eqnzk dh iwfrZ c<+rh gS rFkk fofue; nj de gksus ij fons'kh eqnz
gksrh gS A bl izdkj fons'kh fofue; dk iwfrZ odz /ukRed nky okyk ck;sa nk;sa ls nk
vksj c<+rk gqvk gksrk gS A fp=k ls Li"V gS fd tc MkWyjOR

izfr :i;s
bZdkbZ
gS rksdher
MkWyj OQ
dh ek=kk esa iwfrZ dh tk jgh gS A ;fn MkWyj dhDR2
dhergks
c<+dj
tkrh gS rks
MkWyjksa dh iwfrZ MkWyjksa dh iwfrZ dh tkrh gS A
Y
ign Exchange
94
S
R2
R1
S
O Q1 Q Q2 X
Quantity of Foreign Exchange
Q.10. Explain the leakages and injection in the circular flow of money.
vk; ds pdzh; izokg esa gksusokys fjlko ,oa vUr% {ksi.k Li"V dhft, A
Ans. Leakage of Income – Leakage represents that income which is saved and not
returned back to income flow. If factors of production do not spend their entire
income on purchasing goods and service is called the leakage of income.
Similarly, if firms do not spend their income and keep away a part of their
income as undistributed income and profit, it will also be called leakage from
income flow.
Thus, “ Leakage of income is that income which is not
returned to circular flow as an expenditure and is kept away from the flow.”
In other words, “ Leakage gives the squeezing affect on national income.”
Injection of Income : - Injection of income is that income addition which takes
place in circular flow from outsources other than circular flow. Injection of
income causes an increase in the process of income generation in the
economy.
In other words, “ Injection gives the expanding effect on National
income.”
vk; dk fjlko & fjlko ls rkRi;Z og vk;k gS ftls cpkdj j[k fy;k tkrk gS vkSj vk; izok
esa okil ugh ykSVk;k tkrk A ;fn mRiknu ds lk/u viuh leLr vk; dks ns'k esa m
oLrqvksa o lsokvksa ij O;; ugh djrs rks bls vk; dk fjlko dgk tkrk gS A blh izdk
95
j iQesZ tks vk; izkIr djrh gS mldk eq[; Hkkx

oLrqvksa cspd mRiknu lk/uksa dh
[kjhnus ij [kpZ u djds vforjfr vk; ;k ykHk dss :i esa j[k ysa rks og Hkh vk; izok
vk; dk fjlko gksxh A bl izdkj] ^^ vk; dk fjlko vk; dk og Hkkx gS tks vk; ds pdz
izokg esa okil [kpZ ugh fd;k tkrk vkSj izokg ls ckgj dj fn;k tkrk gS A **nwljs
fjlko dk jk"Vªh; vk; ij ladqpukRed izHkko iM+rk gS A
vk; dk vUr {ksi.k & vk; dk vUr%{ksi.k vk; esa gksusokyh og o`f} gS tks pdzh
ckgj fdlh vkSj Lkzksr }kjk gksrh gS A** vk; dk vUr%{ksi.k vFkZO;OLFkk esa
o`f} djrk gS A
nwljs 'kCnks esa] vUr%{ksi.k dk jk"Vªh; vk;d ij foLrkjoknh

(Expanding izHkk
Effect) iM+rk gS A vFkZO;oLFkk ds lUrqyu ds fy, vUr% {ksi.ksa dk fjlkoks
gksuk vko';d gS A vFkkZr vUr%{ksi.k fjlko A

96
MODEL PAPER
d{kk & XII
vFkZ’kkL= (Economics)
set – 3
nh/k± mÙkjh; iz’u 5x6 = 30
funsZ’k % iz’u la[;k 11ls15 rd nh/k± mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
question carries 6 marks .
Q.11. Mention the uses of Demand and Supply curves in price determination of a
factor.
lk/u dher ds fu/Zkj.k esa ekWx ,oa iwfrZ odzksa ds mi;ksx dk o.kZu djsa A
Ans. Application of Demand and Supply curves in Factor price Determination: -
Demand and supply forces also play dominant role in factor price (i.e., their
reward) determination. According to the modern theory of distribution, the
factor price is determined be demand and supply forces in the same way as
commodity price is determined by demand and supply forces. In perfect
competition, factor price is determined at that point where the demand for
factor becomes equal to its supply. Hence, the modern theory of distribution
is termed as ‘Demand and Supply Theory of Factor Price Determination.’
 Demand for Factor – Factor demand is not direct demand but it is
indirect demand i.e., demand for factors of production depends on the
demand for goods which are produced with these factors for example,
labour demand for cloth industry depends on the demand for finished
cloth. Higher demand for cloth increases the demand for labour in cloth
industry and vice-versa.
 Supply of Factor - Supply of factor of production is determined by its
opportunity cost. Opportunity cost is that money income which can be
97
obtained by factor of production must get that award in its present use
which it can obtain in next best alternative use. Higher the supply of
factor, higher will be the supply of production. Hence the supply curve
of a factor slopes upward from left to right.
 Factor price: - Demand – supply Equilibrium: The reward to a factor of
production will be determined at that point where factor demand
becomes equal to factor supply. In fig. factor demand curve DD and
factors supply curve SS cut each other at point E where factor price OP
is determined If factor price increases to OP, factor supply exceeds
factor demand which brings down factor to OP. On the contrary, if
factor price comes down to OP2. factor demand exceeds factor.
Y D S
Excess
Supply
P1
Price
L K
P E
H
P2 S Surplies Demand D
 O Quantity X
ekWx
,oa iwfrZ 'kfDr;ksa dk iz;ksx mRifr lk/uksa dh dher (vFkkZr muds iqjLdkj)
fu/kZj.k esa Hkh fd;k tkrk gS forj.k dsd vk/qfud fl}kkar ds vuqlkj ftl izdkj oLrq
ctkj esa fdlh oLrq dh dher mldh ekWx rFkk iwfrZ }kjk fu/kZfjr gksrh gS] Bhd mlh
izdkj lk/u& cktkj esa fdlh lk/u dh dher(ikfjJfed) mldh ekWx rFkk iwfrZ }kjk
fu/kZfjr gksrh gS A iw.kZ izfr;ksfxrk dh voLFkk esa lk/u & dher dk fu/kZj.k ml fc
ij gksrk gS tgkW ij fdlh lk/u dh ekWx rFkk iwfrZ ,d nwljs ds *lk/u dher fu/kZj.k
rFkk iwfrZ fl}kar Hkh dgrs gS A lk/u dh ekWx & mRiknu ds lk/uksa dh ekWx
O;qRiUu ekWx gksrh gS vFkkZr mRiknu lk/uksa dh ekWx buds }kjk mRikfnr oL
98
djrh gS A mnkg.kFkZ fdlh diM+s ds dkj[kkus esa Jfedks dh ekWx mlds }kjk rS;k
ij fuHkZj djsxh A diM+s dh ekWx ds vf/d gksus ij Jfedkssa dh ekWx Hkh vf/
foifjr] diM+s dh ekWx ds de gksus ij Jfedks dh ekWx Hkh de gksxh A
lk/u dh iwfrZ %& mRifr ds lk/u dh iwfrZ mldh volj ykxr ls fu/kZfjr gksrh
gS A volj ykxr eqnzk dh og ekuk gS tks fdlh lk/u dks fdlh vU; loZJs"B oSdfYid m
esa fey ldrh gS A vr% lk/u dks orZeku m/ksx esa bruk izfriQy vo'; feyuk pkfg, f
fd mls fdlh vU; oSdfYid m/ksx esa izkIr gks ldrk gS A lk/u dh iwfrZ ftruh vf/d g
mRiknu dh iwfrZ Hkh mruh gh vf/d gksxh vr% lk/u dk iwfrZ odz ck,W ls nk,W
mBrk gS A
lk/u dher%& ekWx &iwfrZ le;& mRifr ds lk/u dk izfriQy (ikfjrksf"kd) ml fc
fu/kZfjr gksxk ftl ij lk/u dh ekWxs o iwfrZ cjkcj gksxh A fp=k esa lk/u dh ekW
lk/u dh iwfrZ vkil esa fcUnq

E ij dkVrs gS tgkW
A lk/ku dh dher OP fu/kZfjr gksrh gS
;fn lk/ku dher c<+dj OP gks tkrh gS rc lk/ku dh iwfrZ lk/ku dh ekWx ls vf/kd gks
tkrh gS bl vfrjsd iwfrZ ds dkj.k dher fxjdj iqu% OP vk tkrh gSA ;fn lk/ku dher
fxjdj iqu% OP2 gks tkrh gS rc lk/ku dh ekWx mldh iwfrZ ls vf/kd gksxh & bl vfrjsd
ekWx ls lk/ku dher iqu% c<+dj OP gks tk,xh A
Y D S
Excess
Supply
P1
Price
L K
P E
H
P2 S Surplies Demand D
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O Quantity Y
Q.12. In an economy MPC is 0.65 and increases in investment is 90 crore rupees.
Calculate increase in total income and consumption expenditure.
,d vFkZO;oLFkk esa lhekUr miHkksx izo`fr 0-65 gS rFkk fuos'k esa 90 djksM+ :i, dh o`f} dh
tkrh gS A dqy vk; rFkk dqy miHkksx O;; esa gksusokyh o`f} dh x.kuk dhft, A
Ans. K=
Y= = 257.14 or 257 Ans.
We know, Y = + I
Or,
= 257 – 90
= Rs. 167 crores Ans.
Q.13. Define Budget. What are the objectives of Budget?
ctV dh ifjHkk"kk nhft, A ctV ds D;k mns'; gS \
Ans. Meaning : - The Word ‘Budget’ is said to have its origin from the French word
Bourget which means ‘a small leather bag’. Budget is a detailed economic
statement which includes the details of income (i.e., revenue) and
expenditure of the government. A budget is a document which contains
estimates of government receipts and expenditure during a financial year (In
India financial year runs between April 1 to March 31). Definitions
(1) According to Rene storm, “ The budget is a document containing a
preliminary approval plan of public revenue and expenditure.”
(2) According to Find lay Shiras, ‘A budget in short includes a statement of
the receipts and expenditure of the previous year, an estimate of the
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receipts and expenditure of the ensuring financial year and proposals

as to meet ways and means for meeting a deficit or distributing a
surplus, if any.”
(3) According to P.F. Taylor, “Budget is a matter financial plan of the
government. It brings together estimates of anticipated revenue and
proposed expenditures for the budget year.”
Objective of the Budget :- Budget is not only an annual statistical statement
of government revenue and expenditure but it also reflects government
policies and a set of Objectives which the government has to fulfill through
budget.
Government tries to fulfill the following objectives through buget.
(i) Encouragement of Economic Development: - The basic objective of the
budget is to accelerate the place of economic development in the
country. For accelerating the palace of economic development. (I)
Government may grant tax rebates to production activities (II)
government may develop infrastructure like roads, canals, power,
bridges etc. by increasing public expenditure and (III) Government
may establish public enterprises.
(2) Balanced Regional Development: - Through budget, government may
promote the development in backward areas for ensuring balanced
regional development in the economy. Government may grant tax
rebates to these areas may establish public enterprises in these areas
and may allocate more funds for infrastructural development in these
backward areas.
(3) Re-distribution of Income and Property: - Budget plays a vital role in
reducing the economic disparities in the economy. Many steps can be
taken in the budget for reducing the economic disparities in the
economy. For example (i) heavy taxes on higher income group, (ii) tax
exemption to lower income group, (iii) higher taxes on goods
101
consumed by higher income group.

(4) Economic Stability : - Economy faces the cycles of boom and
depression and the budget aims to put a control on these cycles.
Government may adopt ‘Surplus budget’ during boom and ‘deficit
budget’ during depression.
(5) Creation of Employment: - Employment creation is one of the important
objectives of government budget. Government may promote labour-
intensive techniques in public works programmers and may also initiate
various employment generation programmers in the economy.
(6) Management of public enterprises: - Government may establish public
enterprises for ensuring social Justice in the economy because the aim
of public enterprises is to ensure social welfare and not earning profit.
ctV % vfHkizk; (Budget : mening ) ^ctV 'kCn dh mRifr zQsp 'kCn * Bougatee ls
gqbZ gS] ftldk vFkZ gS ^^,d peM+s dk FkSyk ;k cVqvk ** A
ctV ,d foLr`r vkfFkZd fooj.k gS] ftlesa ljdkj dh vk; vkSj O;; dk gksrk gS ftlesa
ljdkj ds forh; o"kZ (Hkkjr esa 1 vizSy ls 31 ekpZ )rd dh vof/ dk vk; ,oa O;;
vuqekuksa dk fooj.k gksrk gS A ctV % izeq[k ifjHkk"kk,Wa ( Budget Important Definitions )
(i) jsus LVksuZ ds vuqlkj % ctV ,d ,slk izi=k gS ftlesa lkoZtfud vk; lkoZtfud vk;
o loZtfud O;; dh ,d Lohd`r ;kstuk gksrh gS A **
(ii) fiQ.Mys f'kjkt ds vuqlkj%& la{ksi es] ctV es xr o"kZ dh vk; ,oa O;; dk fooj.k]
vkus okys forh; o"kZ ds vk; ,oa O;; ds vuqeku rFkk ?kkVks dks iwjk djus gsrq lk/uksa
ds ekxZ ;k cpr dks forfjr djus ds izLrko lfEefyr jgrs gS A**
(iii) Vsyj ds vuqlkj ** ctV ljdkj dh ekLVj forh; ;kstuk gS ;g vkxeh vk; ds
vuqeku rFkk ctV o"kZ ds izLrkfor O;;ksa ds vuqeku lkFk& lkFk iznku djrk gSs A**
ctV ds mns';(Objection o the Budget) :- lj dkjh ctV ljdkj ds of"kZ; O;; ,oa vk;
dkd C;ksjk rks izLrqr gh gS lkFk gh lkFk ctV ljdkj dh mu fodkl uhfr;ksa ,oa mns`
102
bafxr djrk gS ftUgsa ljdkj ctV ds ek?;e ls izkIr djuk pkgrh gS A ljdkj ctV ds ek?;e l
fuEufyf[kr mn`s';ksa dks iwjk djus dk iz;kl djrh gS A

(Encovragemen to Economic) %&ctV dk eq[;
1 -vkfFkZd fodkl dks izksRlkgu
mns`'; vFkZO;oLFkk esa vkfFkZd fodkl dh xfr dks izksRlkgu nsuk gksrk gS A vkfFkZd
fodkl dks izksRlkgu nsus ds fy, (i) ljdkj dj esa fj;k;r nsdj mRiknu fdz;kvksa
dks izksRlkgu iznku dj ldrh gS] (ii) ljdkj lkoZtfud O;; c<+kdj vk/kjHkwr
lajpuk ] iqy ] ugjs] uy] fctyh vkfn dk fuekZ.k dj ldrh gS A (iii) ljdkjh
midzeks dh LFkkiuk dj ldrh gS bR;kfn A
2- larqfyr {ks=kh; fodkl ( Balanced Regional Develop,ent) ljdkj ctV ds ek/;e ls
larqfyr {ks=kh; fodkl dks c<+kok nsus gsrq fiNM+s gq, {ks=kks ds fodkl dks izksRlkfgr
dj ldrh gS A fiNM+s gq, izns'kksa ds fodkl ds fy, ctV }kjk &
(i) mUgs dj NwV iznku dh tkrh gS]
(ii) ljdkj ogkW vius midze LFkkfir dj ldrh gS rFkk
fiNM+s {ks=kksa es vk/kjHkwr lajpuk ,oa vU; vko';d lsokvksa dh vkiwfrZ ds fy,
lkoZtfud O;; esa oqf} dh tk ldrh gS A
3- vk; ,oa lEifr dk iquforj.k ( Redistribution of Invom4 and protenst) vFkZO;oLFkk esa
vkfFkZd fc"kerk esa deh djus esa ctV ,d egRoiq.kZ Hkwfedk fuHkkrk gS A vFkZO;oLFkk esa
ikbZ tkus okyh vlekurkvksa dks de djuss ds fy, ctV }kjk dbZ mik; fd;s tk ldrs
gS] tSls & (i) mPp vk; ,oa lEink okys O;fD;ksa ls mWQph njksa ij dj olwy djuk A
(ii) fuEu vk; oxZ dks djksa ds nk;js ls ckgj djuk A

(iii) mPp vk; oxZ }kjk mi;ksx dh tkus okyh oLrqvkss ij mQWph nj ij
mRikn
'kqYd ,oa fcdzh dj olwy djuk A
4- vkfFkZd fLFkjrk %& (Economic Stability) vFkZO;oLFkkvksa esa rsth vkSj eanh ds pdz
pyrs jgrs gS] ftls fu;af=kr djds vFkZ O;oLFkk es fLFkjrk izkIr djuk Hkh ctV dk
mns'; gksrk gSA tc dHkh ljdkj dks rsth ,o eanh dh fLFkfr;ksa ij fu;Ur.k djuk
103
gksrk gS rks og rsth ds le; cpr dk ctV (Surplus Budget) ,oa eUnh ds le;
?kkVs dk ctV (Deficit Budget ) cukrh gS A
5- jkstxkj dk lwtu (Creation of Employment) jkstxkkj dk l`tu djuk Hkh
ljdkj ds ctV dk ,d egRoiq.kZ mns'; gksrk gS A blds fy, ljdkj Je iz/ku
rduhdksa lM+d] iqy] ugjsa o ckW/k fuekZ.k tSls lkoZtfud dk;Zdzeks dks izksRlkfgr djrh gS
vkSj fof'"V jkstxkj dk;Zdzeksa dks ykxw djds vfrfjDr jkstxkj volj mRiUu djrh gS A
6- lkoZtfud midzeks dk izcU/k ( Manaement of public Enter5prises) ljdkj

lkeftd fgr esa lkeqfgd U;k; dh fLFkfr mRiUu djus ds fy, lkoZtfud midzeksa dh
LFkkiuk djrh gS] D;ksa fd bu midzeks dk mns'; ykHk vtZu u gksdj lkekftd dY;k.k
ij vk/kfjr gksrk gSA
Q.14. Explain factors affecting the price Elasticity of Demand.

ekWx
dh dher yksp dks izHkkfor djus okys rRoksa dk mYys[k dhft, A
Ans. Factors affecting Elasticity of Demand: -
(1) Substitutes: - When substitutes of any goods is available then demand
elasticity of such goods is highly elastic, because when price of these
goods increases, substitutes are used in place of it. In the same way, on
decrease in price of these goods, use of substitutes decreases. Tea,
coffee, gur, sugar etc. are examples of substitutes.
(2) Alternative Uses: - When goods could be used in only one way, its
demand will be elastic. For example, cool has many uses – It can be
used in railways, houses industries, etc. Demand of cool for railway is
inelastic but for house purpose, its demand is elastic as many cheaper
alternative goods like, cooking gas etc. could be used in place of it.
(3) Postponement of Consumption : - If consumption of any goods can be

postponed, its demand becomes elastic, e.g., a person has two woolen
clothes. If due to some reason, price of woolens clothes increases, then
104
consumer postpones the idea of buying another sweater in current year.

In such a case, demand of woolen clothes for current year will be highly
elastic.
(4) Expenditure Amount :- Goods on which large part of income is spent,

are highly demand elastic and those goods on which small part of
income is spent, their demand is generally in elastic. That is why,
demand of television, radio cycle, scooter , etc. is more elastic as
compare to salt, wheat etc.
(5) Income Level: - Elastic of demand for rich people is generally in elastic
because increase in price level does not affect them severely while
elasticity of demand for poor people is highly elastic because increase in
prices affect their purchasing power a lot.
(6) Price level: - Elasticity of demand also depends on price level of the
goods. Elasticity of demand will be greater at high price level and less of
low level of price.
(7) Time Period : - In short run, demand for goods is generally less elastic
because a consumer changes his habits in long-run and but not in short-
run more over, supply of output cannot be increased readily
in Short run.
(8) Joint Demand or complementary of Goods: - Few goods are demanded

along with other goods. These are called completementary goods and their
demand is inelastic. For example, scooter-petro), shoes- socks, etc.
mrj %&ekW
x dh yksp dks izHkkfor djus okys rRo fuEuyf[kr gS &
1- LFkkukiUu oLrqvksa dh (Availability
moy/krk of substitutes) ;fn fdlh oLrq ds lkFk
LFkkukUrj.k miyC/ gSW rc ,slh oLrq dh ekWx dh yksp vR;kf/d ykspnkj g
tc fdlh oLrq dh dher c<+ tkrh gS rks mlds LFkku ij vU; LFkkukiUu oLrq
105
iz;ksx gksus yxrk gSA blh izdkj oLrq dh dher esa deh gksus ij vU; LFkkuk
dk iz;ksx gksus yxrk gS A blh izdkj oLrq dh dher esa deh gksus ij vU; L
oLrqvksa ds LFkku ij bldk iz;ksx gksus yxrk gS A pk;] dkWih] xqM] phuh
LFkkukIkUu oLrqvks gS A cktkj esa vusd VwFkisLV ,oa lkoquksa dh m
oLrqvksa dh Js.kh esa vkrh gS A
2- oLrq ds oSdfYid iz;ksx
(Attermative Uses) ;fn fdlh oLrq dk dsoy ,d gh iz;ksx
lEHko gks rks mldh ekWx csyksp gksxh vkSj ;fn mlds dbZ iz;ksx lEHk
ykspnkj gksxh A mnkgj.k ds fy,] dks;yk ] jsy xkfM+;kW] dkj[kkuks ] odZ'k
ds :i esa vusd oSdfYid iz;ksxks esa iz;qDr gksrk gS jsyos ds fy, dks;ys dh ek
csyksp gS] fdUrq ?kjksa es dks;ys dh ekWx vf/d ykspnkj gksrh gS A D;

dher esa vf/d o`f} gks tkus ij ?kjksa esa bZ/u ds foDYi ds Li es miHkksDr
LFkku ij ydM+h feV`h dk rsy] xSl vkfn dk iz;ksx djus yxsxsa A vkSj dks
de gks tk;sxh A
3- miHkksDrk LFkxu
( Postponement of Consumption) ;fn fdlh oLrq dk miHkksx dqN le;
ds fy, LFkfxr fd;k tk ldrk gS rks mldh ekWx ykspnkj gksrh gS mnkgj.k ds
fdlh miHkksDrk ds ikl nks mQuh diM+s igys ls gh gS bl o"kZ mQuh diM+
tkrh gS rks miHkksDrk ml o"kZ rhljs mQuh diM+s dh [kjhn dks LFkfxr dj l
n'kk esa ml o"kZ ds fy, mQuh diM+ksa dh ekWx dh yksp vf/d ykspnkj gksw
4- O;; dh jk'kh(Expenditure amount) ftu oLrqvksa ij vk; dk vf/d Hkkx O;; fd;k
tkrk gS ] mudh ekWx vf/d ykspnkj gksrh gS rFkk ftu oLrqvksa ij miHkksD
dk vfrlw{e Hkkx O;; djrk gS A mldhd ekWx izk;% csyksp gksrh gS A ;fn d
Vsfyfotu] jsfM;ksa ] lkbZfdy] LdwVj fd ekWx vf/d ykspnkj gksrh gS] tcfd
fn;klykbZ] vkfn dh ekWx csykspnkj gksrh gSs A
5- vk; Lrj (Income level) vk; Lrj Hkh ekWx dh yksp izHkkfor djrk gS A /uh O;fD
fy, ekWx dh yksp izk;% csykspnkj gksrh gs D;ksfd oLrqvks dh dher c<
O;fDr;ksa ij dksbZ fo'ks"k izHkko ugh gksrk] tcfd xjhc O;fDr ds fy, oLr
106
vR;kf/d ykspnkj gksrh gS D;ksfd mudh ekWx dherksa esa o`f} ls vR;kf/d iz
gSA
6- dher Lrj (price level ) ekWx dh yksp lacaf/r oLrq ds dher Lrj ij Hkh fuHkZj d
gSA dher ds mQWps Lrj ij ekWx dh yksp vf/d gksxh vkSj dher ds uhps L
dh yksp de gksxh A
7- le; vof/ (Time period) vYidky esa fdlh oLrq dh ekWx izk;% de ykspnkj gksr
tcfd nh/Zdky esa vis{kkd`r vf/d ykspnkj gksrh gS A bldk dkj.k
;g gS fd nh?kZdky esa ,d miHkksDrk viuh vknr esa ifjoZru dj ldrk gS A
vr,o nh/Z dky es fdlh oLrq dh dher esa owf} ds iQyLo:i mldh ekWx esa vf
deh gksxh A
8- la;qDr ekWx vFkok oLrqvks dh iwjdrk
( Joint demand or Complementary of goods ) dqN
oLrq,W ,slh gksrh gS ftudh ekWx ds lkFk nqljh oLrq dh ekWx dh tkrh gS A
iwjd dgykrh gS A ,slh oLrqvksa dh ekWx] yksp csykspnkj gksrh gS a m
fn;klykbZ& flxjsV] LdwVj& isVªksy] tqrk ekStk] vkfn A isVªksy dh dher c<
ekWx es ux.k dh deh vkrh gS A LdwVj dks pykus ds fy, isVªksy vko';d gS A
isVªksy dh ekWx csykspnkj ekWx gks tkrh gS A
Q.15. Explain the importance of money.

eqnzk dk egRo crkb, A
Ans. Money plays an instrumental role in shaping economic life in the country.
According to Marshall “Money is a pivot around which the economic

science clusters.”
The significance of money can be explained as follows:
(1) Importance of money in the field of consumption: Money is of great

importance in consumption:
107
(I) To attain maximum satisfaction: A consumer can maximisehis

satisfaction by using money according to the law of Equi-marginal
utility.
(II) To facilitate deferred payments: Consumer sometimes takes loan for

his present consumption which is repaid on some future date. Money
makes such payments possible.
(III) To make savings: A person spends a part of his present income on

present consumption and saves the remaining part for the future.
Hence money makes savings possible for future.
(IV) To purchase various goods: with money, a consumer can buy any
goods of his requirement i.e., money enables a consumer to exercise
his freedom of choice in consumption.
(2) Importance of money in the field of production: Money has facilitated

production in following ways:
(I) Large Scale Production: With the use of money, large scale
production has become possible in modern days. production is
the possible in modern days. Production is the result of collative
effort of all factors of production which get reward in terms of
money.
(II) Division of Labour and specialization possible: Money has

facilitated division of labour and specialization which has
accelerated the pace of production in the economy.
(III) Assembling of factors of production possible: Money is the

instrument which assembles all the factors of production at one
place producer substitutes the factor having lesser productivity by
108
the factors having higher productivity and it becomes possible

with the use of money.
(3) Importance of money in the field of exchange:
(I) Removal of barter difficulties: Money has removed the

inconveniences of barter, as a medium of exchange, money to be
acceptable by everyone. Money has also removed the difficulty in
store of value which was present in barter.
(II) Development of banks and credit institutions: Money has opened

the doors for developing banks and credit institutions. Use of
cheques and exchange bill has made exchange easier.
(III) Capital formation possible: People save money and transfer it to

productive uses. It accelerates capital formation.
(IV) Makes capital mobile: Money makes capital mobile. with use of
money capital can be transferred from one place to the other.
(4) Importance of money in the field of distribution: Money helps in the

distribution of income among different factors of production ideally.
Applying marginal productivity theory, money distributes national
income into wages, rent, interest and profits properly.
(5) Importance of money in public finance: Public expenditure and income

are calculated in terms of money. Imposed tax is also paid in money
and public expenditure is also paid in money. with the use of money
government succeeds in attaining the principle of Maximum social
Advantage.
109
mrj %&
orZeku ;qx eqnzk dk ;qx gS A eqnzk vk/qfud le; esa vkfFkZd thou dk dsUn
ek'kZy ds vuqlkj ^^ eqnzk og /qjh gS ftlds pkjks vksj leLr vFkZ foKku pDdj
A ** eqnzk dk vkfFkZd {ks=k es egRo Li"V djus okys fcUnq gS
1- miHkksx ds {ks=k esa eqnzk dk egRo & miHkksx ds {ks=k esa eqnzk ds vk
'kh"kZdksa ls O;Dr dj ldrs gS &
(i) vf/dre lUrqf"V dh izkfIr & miHkksDrk eqnzk }kjk le lhekUr rqf"Vxq
ikyu djds vius O;; ls vf/dre lUrqf"V izkIr dj ldrk gS A
(ii) Hkfo"; esa Hkqxrku laHko & miHkksDrk dks dHkh& dHkh oLrqvksa
gS ftudk Hkqxrku Hkfo"; esa djuk gksrk gS A ;g dk;Z og eqnzk dh lg
djrk gS A
(iii) lap; djuk laHko &eqnzk euq"; viuh vk; dk ,d Hkkx orZeku miHkksx
dj nsrk gS vkSj dqN Hkkx Hkfo"; ds fy, cpkdj j[k ysrk gS A eqnzk }k
djuk laHko gks ldrk gS A
(iv) fofHkUu oLrqvks dh miyfC/ laHko & eqnzk }kjk euq"; viuh vko';drk
oLrqvksa dks dz; dj ldrk gS vFkkZr eqnzk miHkksDrk dks p;u dh LorU
2- mRiknu {ks=k esa eqnzk dk egRo & mRiknu ds {ks=k esa eqnzk dk egRo fu
(i) cM+s Lrj ij mRiknu laHko & eqnzk ds pyu ls cM+s iSekus ij mRiknu laHko
bl mRiknu esa mRifr ds lk/uksa dk lg;ksx gksrk gS A bl lkeqfgd mRiknu dks
eqnzk izkIr gksrh gS mls mRifr ds lk/uksa esa ckWV fn;k tkrk gS A
(ii) Je& foHkktu o fof'"Vhdj.k laHko& eqnzk }kjk gh Je foHkktu o fof'"Vhdj.k
ldk gS ftlls mRiknu izfd;k dks xfr feyh gS A
(iii) mRifr ds lk/uks dks tqVkuk laHko %& eqnzk ds dkj.k gh mRiknd de mRin
lk/u dk izfrLFkkiu djrk gS vkSj bl izdkj de& ls de ykxr ij vf/d ls vf/d
mRiknu djus esa leFkZ gksrk gS A
3- fofue; ds {ks=k es eqnzk dk egRo& eqnzk ds egRo dk foospuk fuEukuqlkj g
(i) oLrq & fofue; dh dfBukbZ;ksa nqj djuk & eqnzk us oLrq& fofue; dh
dfBukbZ;ksa dks nwj dj fn;k gs A
(ii) cSd o lk[k laLFkkvksa dk fodkl & eqnzk }kjk lk[k & i=kksa o lk[k laLFk
feyk gS A psdks o fofue; i=kksa }kjk fofue; dk;Z vR;kf/d ljy gS A
110
(iii) iwWth lap; laHko & eqnzk }kjk yksx viuk /u cpkdj mls mRiknu dk;Z esa y
bl izdkj iwWth dk fuekZ.k gksrk gS A
(iv) iwWth dks xfr'khy cukuk & eqnzk iwWth dks xfr'khy cukrh gS A bls ,d L
LFkku rd ljyrk ls Hkstk tk ldrk gS A
4- forj.k ds {ks=k esa eqnzk dk egRo & forj.k ds {ks=k es Hkh eqnzk dk vR;
cM+s iSekus ds mRiknu esa yksx la;qDr :i ls dk;Z djrs gS A mu lHkh dks m
iqjLdkj eqnzk esa gh fn;k tkrk gS A
5- jkTkLo ds {ks=k esa eqnzk dk egRo & ljdkj ds vk;& O;; lEcU/h lHkh dk;Z
gksrs gS A og tks Hkh dj yxkrh gS eqnzk esa gh nsuk iM+rk gS A og viuk
gh djrh gS A eqnzk ds dkj.k ljdkj vf/dre lkekftd ykHk dk fl}kar ikyu djus e
leFkZ gksrh gS A
111
MODEL PAPER
d{kk & XII
set - 4
[k.M&1 (Section-1)
oLrqfu"B iz’u (objective type Question) 1x40=4
funsZ’k%& iz’u la[;k 1 ls 40 rd esa pkj fodYi fn, x, gS ftuesa ls ,d lgh gSA lgh fodYi
Instructions:- For Question Nos.I to 40 there are four alternative of which only one is correct. Choose
Q.1. Inflation redistributes income and wealth in favour of:
(a) Pensioners (b) Poor
(c) Middle class (d) Rich
मु ा फ त क दर के प म आय और धन रे डि यू स होते है –
(a) पशनर (b) गर ब

(b) म यम वग (d) धनी
Q.2. When there is an official change in the exchange rate of domestic
currency, then it
is called :
(a) Appreciation (b) Depreciation
(c) Revaluation (d) Deflation
जब घरे लू मु ा क व नमय दर म एक अ धकार प रवतन होता है , तो यह
कहा जाता है :
(a) शंसा (b) मू य ास
(c) रवै यए
ू शन (d) अप फ त
112
Q.3. An individual’s actual standard of living can be assessed by
(a) Gross National Income (b) Net National Income
(c) Per Capita Income (d) Disposable Personal Income
कसी यि त के जीवन यापन क वा त वक मानक वारा मू यांकन कया
जा सकता है
(a) सकल रा य आय (b) कुल रा य आय
(c) त यि त आय (d) यो य यि तगत आय
Q.4. Who is authorized to issue coins in India?
(a) Reserve Bank of India (b) Ministry of Finance
(c) State Bank of India (d) Indian Overseas Bank
भारत म स को को इशू कसके वारा अ धकृत कये जाते है
(a) भारतीय रजव बक (b) व म ांलय
(c) भारतीय टे ट बक (d) इं डयन ओवरसीज बक
Q.5. If the price of Pepsi decreases relative to the price of Coke and 7-Up,
the demand for
(a) Coke will decrease (b) 7-Up will decrease
(c) Coke and 7-Up will increase (d) Coke and 7-Up will decrease
पे सी क क मत कोक और 7 अप, के लए मांग के मू य के सापे कम हो
जाती है तो
(a) कोक कम हो जयगा (b) 7-Up कम हो जयगा
(c) Coke और 7 -Up बढ़ जयगा (d) Coke और 7 -Up कम हो जयगा

113
Q.6. Rate of interest is determined by
(a) The rate of return on the capital invested
(b) Central Government
(c) Liquidity preference (d) Commercial Banks
याज क दर नधा रत होती है
(a) पंज
ू ी पर रटन के दर का नवेश (b) क सरकार
(c) चल न ध वर यता (d) वा णि यक बक
Q.7. The total value of goods and services produced in a country during a given
period is
(a) Disposable income (b) National income
(c) Per capita income (d) Net national income
एक नि चत अव ध के दौरान माल और एक दे श म उ पा दत सेवाओं का
कुल मू य है
(a) यो य आय (b) रा य आय
(c) त यि त आय (d) शु ध रा य आय
Q.8. A favourable Balance of Trade of a country implies that
(a) Imports are greater than Exports
(b) Exports are greater than Imports
(c) Both Imports and Exports are equal
(d) Rising Imports and Falling Exports
एक दे श के यापार म अनक
ु ू ल संतल
ु न का तातपय है
(a) आयात नयात क तल

ु ना म अ धक ह
114
(b) नयात आयात क तल

ु ना म अ धक ह
(c) दोन आयात और नयात के बराबर ह
(d) आयात बढ़ना और नयात घटना
Q.9. The value of a commodity expressed in terms of money is known as
(a) Price (b) Utility
(c) Value (d) Wealth
पैसे के मामले म य त एक व तु के मू य के प म जाना जाता है
(a)मू य (b) उपयो गता
(c) मू य (d) धन
Q.10. In a Capitalistic Economy, the prices are determined by:
(a) Demand and Supply (b) Government Authorities
(c) Buyers in the Market (d) Sellers in the Market
एक पँज
ू ीवाद अथ यव था म, क मते नधा रत होती ह
(a) मांग और आपू त (b) सरकार ा धकार
(c) बाजार म खर दार (d) बाजार म बेचने वाले
Q.11. Tooth paste is a product sold under:
(a) Monopolistic Competition (b) Perfect Competition
(c) Monopoly (d) Duopoly
टूथ पे ट एक उ पाद के तहत बेचा जाता है :
(a)एका धकार तयो गता (b) पण

ू तयो गता
(c) एका धकार (d) वय धकार

115
Q.12. ‘Personal Income’ equals
(a) The household sector’s income
(b) Private income minus savings of the corporate sector minus corporation tax
(c) Personal disposable income plus miscellaneous receipts of the Government
(d) All of the above
नजी आय ‘बराबर है
(a)घरे लू े क आय
(b) कॉरपोरे ट से टर शू य नगम कर क नजी आय शू य बचत
(c) यो य यि तगत आय के आंकड़े के साथ साथ सरकार के व वध ाि तय
(d) ऊपर के सभी
Q.13. What is dual pricing?
(a) Wholesale price and Retail pricing
(b) Pricing by agents and Pricing by retailers
(c) Price fixed by Government and Price in open market
(d) Daily prices and Weekly prices
दोहर मू य नधारण या है
(a) होलसेल मू य और रटे ल मू य
(b) एजट वारा और खुदरा व े ताओं वारा मू य नधारण
(c) मू य सरकार वारा तय और खल

ु े बाजार म मू य
(d) डेल क मते और सा ता हक क मते
Q.14. Which of the following is a part of tertiary sector?

116
(a) Power and transportation (b) Animal Husbandry
(c) Cotton manufacturing (d) Cultivation of crops
न न म से कौन सा तत
ृ ीयक े का एक ह सा है ?
(a) बजल और प रवहन (b) पशप

ु ालन
(c) कपास व नमाण (d) फसल क खेती
Q.15. Fixed cost is known as
(a) Special cost (b) Direct cost
(c) Prime cost (d) Overhead cost
नि चत लागत को कस प से जाना जाता है
(a) वशेष लागत (b) य लागत
(c) मल
ू दाम (d) उप रलागत
Q.16. A mixed economy refers to an economic system where
(a) The economy functions with foreign collaboration
(b) Only the private sector operates under government control
(c) Both the government and the private sectors operate sectors operate
simultaneously
(d) No foreign investment is allowed
एक म त अथ यव था एक आ थक णाल को दशाता है ,
(a) वदे शी सहयोग के साथ अथ यव था काय
(b) केवल नजी े सरकार के नयं ण म संचा लत
(c) सरकार और नजी दोन े म एक साथ काम े म संचा लत

117
(d) कोई वदे शी नवेश क अनम

ु त नह है
Q.17. The demand for which of the Following commodity will not rise in
spite of a fall in
its price?
(a) Television (b) Refrigerator
(c) Salt (d) Meat
ऐसी व तु जो मांग के लए इसक क मत म गरावट के बावजद

ू भी इसक व ृ ध नह ं होगी ?
(a) टे ल वजन (b) ज
(c) नमक (d) मांस
Q.18. In the long-run equilibrium, a competitive firm earns
(a) Super-normal profit (b) Profits equal to other firms
(c) Normal profit (d) No profit
लंबे समय से चलाने के संतुलन म एक त पध फम कमाती है
(a) सप
ु र सामा य लाभ (b) अ य कंप नय के मन
ु ाफे
के बराबर
(c) सामा य लाभ (d) कोई लाभ नह ं
Q.19. Production function relates
(a) Cost to output (b) Cost to input
(c) Wages to profit (d) Inputs to output
उ पादन फं शन कसे संबं धत है
(a) उ पादन लागत (b) इनपट

ु लागत
118
(c) मजदरू लाभ के लए (d) उ पादन करने के लए आदान
Q.20. A Black Market is a situation Where in
(a) Goods are loaded by the producers (b) Goods are sold secretly
(c) Goods are sold at prices higher than what is fixed by the Government
(d) Goods are made available (sold) only after there is a rise in prices
काला बाजार क ि थ त है जहा
(a) माल उ पादक वारा भर हुई ह (b) माल चप

ु के से बेच रहे ह
(c) माल क तल
ु ना म ऊंची क मत पर बेच रहे ह, या सरकार वारा तय
हो गई है
(d) माल क क मत म व ृ ध के बाद ह उपल ध है
Q.21. According to the classical system, saving is a function of
(a) Income (b) The interest rate
(c) The real wage (d) The Price level
शा ीय णाल के अनस
ु ार, बचत का एक फं शन है
(a) आमदनी (b) याज दर
(c) वा त वक मजदरू (d) मू य तर
Q.22. If total utility is maximum at a point, then marginal utility is
(a) positive (b) zero
(c) negative (d) positive but decreasing
कुल उपयो गता एक बंद ु पर अ धकतम है , तो सीमांत उपयो गता है
(a) सकारा मक (b) शू य

119
(c) नकारा मक (d) सकारा मक ले कन कम हो
Q.23. The situation in which total revenue is equal to total cost, is known as
(a) monopolistic competition (b) equilibrium level of output/
(c) break-even point (d) perfect competition
एक ऐसी ि थ त िजसमे कुल राज व कुल लागत के बराबर है , तो इसे कस प म
जाना जाता है
(a) एका धकार तयो गता (b) उ पादन का संतुलन तर
(c) लाभ – अलाभ ि थ त (d) यो य तदवं द
Q.24. The relationship between price of a commodity and the demand for it
(a) is a positive relationship (b) is an inverse relationship
(c) They are independent of each other (d) They do not have any relationship
एक व तु क क मत और इसक मांग के बीच म या र ता है
(a) एक सकारा मक संबंध है (b) एक इनवस र ता ह
(C) वे एक दस
ू रे से वतं ह (d) वे कसी से भी स बं धत नह ं है
Q.25. An increase in national income because of an increase in price is
called
(a) an increase in national income in real terms
(b) an increase in national income at constant prices
(c) an increase in money national income
(d) an increase in national income at base year prices
क मत म व ृ ध क वजह से रा य आय म व ृ ध को या कहा जाता है

120
(a) वा त वक प से रा य आय म व ृ ध
(b) ि थर मू य पर रा य आय म व ृ ध
(c) पैसे से रा य आय म व ृ ध
(d) आधार वष क मत पर रा य आय म व ृ ध
Q.26. ‘Quota’ is
(a) tax levied on imports (b) imports of capital goods
(c) limit on the quantity of imports (d) limit on the quantity of
exports
‘कोटा‘ है
(a) टै स आयात पर लगाया (b) पंज

ू ीगत व तुओं के आयात
(c) आयात क मा ा पर सीमा (d) नयात क मा ा पर सीमा
Q.27. The ‘Canons of Taxation’ were propounded by
(a) Edwin Canon (b) Adam Smith
(c) J.M. Keynes (d) Dalton
‘कराधान के स धांत‘ कसके वारा तपा दत कया गया था
(a) एड वन कैनन (b) एडम ि मथ
(c) जेएम क स (d) डा टन
Q.28. ‘PROTECTION’ means
(a) Restrictions imposed on import trade
(b) Protection to home industries
(c) No free exchange of goods and services between two countries

121
‘सरु ा‘ का अथ
(a) आयात यापार पर लगाया गया तबंध
(b) घर उ योग का संर ण
(c) दोन दे श के बीच व तओ

ु ं और सेवाओं म मु त आदान दान नह ं
(d) ऊपर के सभी
Q.29. National income accounting is the study of the income and
expenditure of the entire
(a) family (b) state
(c) economy (d) organization
रा य आय म कस लेखा आय और परू े के यय का अ ययन कया जाता है
(a) प रवार (b) रा य
(c) अथ यव था (d) संगठन
Q.30. The problem of Economics arises from
(a) Plenty (b) Scarcity of goods
(c) More wants and less goods (d) All of the above
अथशा क सम या कसे उ प न होती है
(a) खूब (b) माल क कमी
(c) अ धक चाहत और कम माल (d) ऊपर के सभी
Q.31. Agricultural income tax is a source of revenue to
(a) Central Government (b) State Government

122
(c) Local Administration (d) Centre and State Governments
कृ ष आयकर के लए राज व कसका ोत है
(a) क सरकार (b) रा य सरकार
(c) थानीय शासन (d) के और रा य सरकार
Q.32. Beyond a certain point deficit financing will certainly lead to
(a) inflation (b) deflation
(c) recession (d) economic stagnation
एक नि चत बंद ु घाटे क व यव था को नि चत प से करने के लए या
नेत ृ व करगे
(a) मु ा फ त (b) अप फ त
(c) मंद (d) आ थक ि थरता
Q.33. The demand curve shows that price and quantity demanded are
(a) Directly related only
(b) Directly proportional and also directly related
(c) Inversely proportional and also inversely related
(d) Inversely related only
मांग व से पता चलता है क मू य और मा ा क मांग है
(a) सीधे ह संबं धत
(b) सीधे आनप

ु ा तक और सीधे संबं धत भी
(c) वपर त आनप

ु ा तक और वपर त प से संबं धत भी
(d) केवल यु मानप

ु ाती से संबं धत
123
Q.34. As output increases, average fixed cost
(a) Increases (b) Falls
(c) Remains constant (d) First increases, then falls
जब उ पादन बढ़ता है, औसत तय क लागत
(a) बढ़ जाती है (b) गर जाती है
(c) लगातार बना रहता है
(d) सबसे पहले बढ़ जाती है, और फर गर जाती है
Q.35. In a period of inflation and price rises the supply of money remains
(a) The same (b) Increases
(c) Decreases (d) Increases or decreases
proportionately
मु ा फ त क अव ध म क मते बढ़ती है जब क पैसे क आपू त बनी रहती है
(a) समान (b) बढ़ जाती है
(c) घट जाती है (d)
Q.36. Reserve Bank of India was nationalized in
(a) 1948 (b) 1947
(c) 1949 (d) 1950
रजव बक ऑफ इं डया का रा यकरण कया गया था
(a) 1948 (b) 1947
(c) 1949 (d) 1950
Q.37. National Social Assistance Programme is aimed at providing
(a) Financial support to Scheduled Castes and Scheduled Tribes

124
(b) Old age pension to very poor
(c) Insurance for the poor (d) All of the above
रा य सामािजक सहायता काय म का उ दे य उपल ध करवाना है
(a) अनस
ु ू चत जा त और अनस
ु ू चत जनजा त के लए व ीय सहायता
(b) गर ब को व ृ धाव था पशन
(c) गर ब के लए बीमा (d) ऊपर के सभी
Q.38. Per capita income is equal to
(a) National Income Total Population of the country
(b) National Income + Population
(c) National Income – Population (d) National Income Population
त यि त आय बराबर है
(a) रा य आय म दे श क कुल जनसं या
(b) रा य आय + जनसं या (c) रा य आय – जनसं या
(d) रा य आय जनसं या
Q.39. Which one of the following is not a function of the central bank in an
economy?
(a) Dealing with foreign exchange (b) Controlling monetary policy
(c) Controlling government spending (d) Acting as a banker’s bank
न न ल खत म से कौन एक अथ यव था म क य बक के एक समारोह
म नह ं है
(a) वदे शी मु ा के साथ लेनदे न (b) मौ क नी त को नयं त करना

125
(c) सरकार खच पर नयं ण (d) बकर के बक के प म अ भनय
Q.40. The ‘break-even’ point is where
(a) Marginal revenue equals marginal cost (b) Average revenue equals
average cost
(c) Total revenue equals total cost (d) None of the above
‘लाभ अलाभ‘ ि थ त वहाँ है
(a) सीमांत राज व सीमांत लागत के बराबर होती है
(b) औसत राज व औसत लागत के बराबर होती है
(c) कुल राज व कुल लागत के बराबर होती है
(d) इनमे से कोई भी नह ं

126
MODEL PAPER
set - 4
Answers:
1 (d) , 2 (c) , 3 (c) , 4 (b) , 5 (d) , 6 (d) , 7 (b) , 8 (b) , 9
(a) , 10 (a) , 11 (c) , 12 (c) , 13 (c) , 14 (a) , 15(d) , 16
(c) , 17 (c) , 18 (c) , 19 (d) , 20 (b) , 21 (a) , 22 (b) , 23
(c) , 24 (b) , 25 (d) , 26 (c) , 27 (b) , 28 (d) , 29 (c) , 30
(c) , 31 (b) , 32 (a) , 33 (c) , 34 (b) , 35 (b) , 36 (c) , 37
(b) , 38 (a) , 39 (c) , 40 (c) .
127
MODEL PAPER
d{kk & XII
set – 4
y/kq mÙkjh; iz’u
funsZ’k % iz’u la[;k 1 ls 10 rd y/kq mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
Q.(1) How does the increase in income affect demand curve for inferior good ?
?kfV;k oLrqvksa ds fy, vk; esa o`f) ekWax odz dks dSls izHkkfor djrh gS ?
Q.(2) Explain the difference between an inferior and a normal good.
fuEu oLrq rFkk lkekU; oLrq esa vUrj Li"V dhft,A
Q.(3) What is Law of supply ? Explain it with example and diagram.
iwfrZ dk fu;e D;k gS ? bls mnkgj.k rFkk js[kkfp= ls le>kbZ,A
Q. (4) Firm is a price maker in monopoly.Explain.
,dkf/kdkj esa QeZ dher fu/kkZfjr gksrh gSA Li"V dhft,A
Q.(5) Distinguish between stock and flow and give two examples for each.
LVkWd rFkk izokg esa Hksn dhft, rFkk nks&nks mnkgj.k nhft,A
Q.(6) Explain the “Micro and Macro” Level of economic activity.
vkfFkZd fdz;k ds O;f"V ,oa lef"V Lrj le>k,WaA
Q.(7) Mention the meaning and characteristics of utilities.
mi;ksfxrk dk vFkZ ,oa mldh fo’ks"krk,Wa crk,WaA
Q.(8) Mention the features of perfect competition.
Ikw.kZ izfr;ksfxrk dh fo’ks"krkvksa dks crk,WaA
Q.(9) What is meant by Balance of Payment ?
Hkqxrku larqyu ls D;k vfHkizk; gS ?
Q.(10) What is meant by revenue deficit ? What are its effects ?
jktLo ?kkVk D;k gS ? blds D;k izHkko gksrs gSaA
128

nh|Z mÙkjh; iz’u
funsZ’k % iz’u la[;k 11ls15 rd nh|Z mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
Q.(11) Mention the uses of Demand and supply in price determination of goods.
oLrq dher fu/kkZj.k esa ekWax ,oa iwfrZ odzksa ds mi;ksx dks fy[ksaA
Q.(12) If national income is Rs.50 crores and saving Rs.5 crores, Find out average
propensity to consume When income rise to Rs.60 crores and saving to Rs.9
crores. What will be the average propensity to consume and the marginal
propensity to save ?
;fn jk"Vª vk; :. 50 djksM rFkk cpr :. 5 djksM gks rks vkSlr miHkksx izo`fr D;k
gksxh ? ;fn vk; c<dj :. 60 djksM rFkk cpr c<dj :. 9 djksM gks tk, rks
vkSlr mi;ksx izo`fr rFkk lhekUr mi;ksx izo`fr Kkr dhft,A
Q.(13) What is exchange rate ? Explain the favourable and unfavourable exchange
rate.
fofuHk; nj D;k gS ? vuqdwy ,oa izfrdwy fofuHk; njksa dks le>kb,A
Q.(14) Explain the various type of taxes.
djksa ds fofHkUu izdkj crkb,A
Q.(15) Explain the two sector model of circular flow of income.
vk; ds pdzh; izokg ds nks {ks=h; ekWMy dks le>kb,A
129
MODEL PAPER
d{kk & XII
vFkZ’kkL= ¼okf.kT;½ - Economics (Commerce)
set – 4
[k.M& II ( section - II)
y/kq mÙkjh; iz’u 10x3 = 30
funsZ’k % iz’u la[;k 1 ls 10 rd y/kq mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
Q.(1) How does the increase in income affect demand curve for inferior good ?
?kfV;k oLrqvksa ds fy, vk; esa o`f) ekWax odz dks dSls izHkkfor djrh gS ?
Ans:- Inferior goods are the goods which are consumed by a consumer due to
insufficient level of income e.g. , Coarse grains, vegetable, ghee etc. In this
case as the income of consumer increases, he reduces consumption of inferior
goods and increases consumption of superior goods or we can say, income
demand curve for inferior goods is negatively sloped and falls from left to right. DD
curve indicates income demand curse for inferior goods. At OY level of income,
demand of inferior goods decreases to OQ, and shift to the consumption of superior
goods.
Y D
Income Demand Curve
( Inferior Goods )
Income Level YA A
Y B D
O QA Q X Quantity Demanded
?kfV;k oLrq,Wa os oLrq,Wa gSa ftUgsa miHkksDrk ghu n`f"V ls ns[krs gSa vkSj vk; Lrj ds
iz;kIr u gksus ij miHkksx djrk gS tSls & eksVk vukt] ouLifr ?kh] eksVk diMk vkfn
,slh n’kk esa tSls&tSls mHkksDrk dh vk; esa o`f) gksrh gS oSls&oSls miHkksDrk bu ?kfV;k
oLrqvksa dk mi;ksx ?kVk dj Js"B oLrqvksa dk miHkksx esa o`f) djus yxrk gS vFkkZr~
130
?kfV;k oLrqvksa ds fy, vk; ekWax odz _.kkRed <ky okyk ck,Wa ls nk;sa uhps fxjrk
gqvk gksrk gS tSls layXu fp= esa gS iznf’kZr fd;k x;k gSA
Y D
Income Demand Curve
( Inferior Goods )
Income Level YA A
Y B D
O QA Q X
Quantity Demanded
DD odz ?kfV;k oLrqvksa ds fy, vk;s ekWax dks crkrk gSA vk; ds OY Lrj ij ?kfV;k oLrq
dh ekWax OQ gSA vk; Lrj esa OYA rd o`f) gksus ij miHkksDrk ?kfV;k oLrq dh ekWax OQ
ls ?kVkdj OQA dj nsrk gS vFkkZr~ og Js"B oLrq dk miHkksx vf/kd vkjEHk dj nsrk gSA
Q.(2) Explain the difference between an inferior and a normal good.
fuEu oLrq rFkk lkekU; oLrq esa vUrj Li"V dhft,A
Ans:- Normal Goods :- Normal goods are those goods for which the demand
rises with every increase in the income of the consumer. In other words, in case of
normal goods, there is a direct relationship between income of a consumer and his
demand for normal goods, e.g. , the demand for rice and wheat will increase with
every increase in income. Thus, rice and wheat are normal goods.
Inferior Goods :- Inferior goods are low quality products and their demand
decreases when the income of the consumer increases and vice versa. In other
words, in case of inferior goods, there is an inverse relationship between
demand and income of the consumer, e.g. , the demand for peanuts or bajra
will fall with the rise in the Income of the consumer. Hence, peanuts and bajra
become inferior goods at a higher level of income.
lkekU; oLrq & lekU; oLrq,Wa og oLrq,Wa gSa ftuesa fder ,oa ekWaxh xbZ ek=k esa
?kukRed laca/k gksrk gSA Js"B oLrqvksa ds lEcU/k esa vk;s ekWax odz ?kukRed <ky
okyk gksrk gS vFkkZr ck;sa ls nk;sa mij p<rk gqvk gksrk gSA Js"B oLrqvksa dk ?kukRed
<ky okyk vk; ekWax odz ;g crkrk gS fd miHkksDrk dh vk; esa izR;sd o`f) mldh
131
ekWax esa Hkh o`f) djrh gS rFkk blds foifjr vk; dh izR;sd deh lekU; n’kkvksa esa
ekWax esa Hkh deh mRiUu djrh gSA
?kfV;k oLrq & ?kfV;k oLrq,Wa og oLr,Wa gksrhs gS ftUgsa miHkksDrk ghu n`f"V ls ns[krk gS
vkSj vk; Lrj ds iz;kZIr u gksus ij mHkksx djrk gSA tSls& eksVk vkukt] ouLifr
?kh] eksVk diMk vkfnA ,slh n’kk esa tSls&tSls miHkksDrk dh vk; esa o`f) gksrh gS]
oSls&oSls miHkksDrk bu ?kfV;k oLrqvksa dk mi;ksx ?kVkdj Js"B oLrqvksa ds miHkksx esa
o`f) djus yxrk gS vFkkZr~ ?kfV;k oLrqvksa ds fy, vk; ekWax odz _.kkRed <ky
okyk ck;sa ls nk;sa uhps fxjrk gqvk gksrk gSA
Q.(3) What is Law of supply ? Explain it with example and diagram.
iwfrZ dk fu;e D;k gS ? bls mnkgj.k rFkk js[kkfp= ls le>kbZ,A
Ans:- Producer always wants to sell his commodity at a higher price for maximising
his profit. In other words, other things being equal, more is supplied at higher
price and less at a lower price. Thus, price of commodity and its supply are
positively related. In Functional form,
S =F(P)
Y S
Supply curve
Price P2
PA s
O QA Q2 x Quantity
Where S refers to supply of the commodity and P for price.

Thus, supply function of a commodity represents a direct relationship between
supply of commodity and its price. The law of supply states that other things
remaining constant, the higher the price, the greater the quantity supplied or
lower the price, the smaller the quantity supplied.
Or
Law of supply states the positive relationship between price of the commodity
and its supply. That is the reason why supply curve slopes upward from left to
132
right.
mRiknd lnSo vius YkkHk dks vf/kdre djus ds m)s’; ls viuh oLrq dks nh x;h
ykxr n’kkvksa esa ÅWaph&ls ÅWaph dher ij cspuk pkgrk gSA nqljs 'kCnksa esa] vU;
ckrsa leku jgus ij] oLrq dh dher o`f) iwfrZ dks c<k;sxh rFkk oLrq dher esa
deh iwfrZ dks ?kVk;sxh A bl izdkj oLrq dher rFkk oLrq iwfrZ esa izR;{k rFkk
lh?kk laca?k ik;k tkrk gSA
Qyu ds :i esa
S =F(P)
Y S
Supply curve
Price P2
PA s
O QA Q2 x
Quantity
tgkWa s oLrq dh iwfrZ rFkk P oLrq dh dher gSA oLrq dk iwfrZ Qyu] oLrq iwfrZ
rFkk mldh dher ds e/; lh/kk lEcU/k Li"V djrk gSA
bl izdkj ] iwfrZ dk fu;e ;g crkrk gS fd vU; ckrsa leku jgus ij ftruh
dher vf/kd gksrh gS ;k ftruh dher de gksrh gS mruh gh iwfrZ de gksrh gSA
vFkkZr iwfrZ dk fu;e oLrq dh dher ,oa mldh iwfrZ d chp /kukRed lEcU/k
crkrk gSA
Q. (4) Firm is a price maker in monopoly.Explain.
,dkf/kdkj esa QeZ dher fu/kkZjd gksrh gSA Li"V dhft,A
Ans:- In monopoly , there is single producer in the market and entry of new firm is
strictly prohibited. In this market situation , there is no distinction between firm
and industry , i.e , firm is industry and industry is firm . In monopoly , the
demand curve is negatively sloped . Like a compertitive firm , a monopolist is
not price – taker but is price – maker . but a monopolist can not
133
Y
decide both price and
quantity simultaneously. D
If he wants to increase
The sale , he has to
Curtail down the price. MR D=AR
In monopoly market , o x
Output
Marginal Revenue < Average Revenue
MR < AR
because in monopoly
e-I
MR = AR
e
e
or AR = MR
e–I
Thus , the relation between AR and MR depends on the elasticity of demand.

Above picture shows the AR and MR curves . Both AR and MR fall but MR is
less then AR .
,dkf/kdkj easa QeZ ^dher fu/kkZjd gkrh gSA
( Firm is ‘ price maker in Monopoly ) - ,dkf/kdkj easa ,dek= mRiknd ,oa fodzsrk
gksus ds dkj.k rFkk fudV LFkkukiUu ds vHkko ds dkj.k m?kksx esa vU; QeksZ ds
izos’k ij dM-k izfrcU/k gksrk gSA nwljs 'kCnksa esa ,dkf/kdkj easa QeZ vkSj m?kksx esa
134
dksbZ vUrj ugha gksrk ] QeZ gh

m?kksx gS rFkk m?kksx gh Y
QeZ gS ( Firm is industry D
and industry is firm )],dkf/kdkj
esa ekax odz _.kkRed <ky okyk
gksrk gSA iw.kZ&izfr;ksfxrk MR D = AR
o x
output
ds mRiknd dh HkkWarh ,dkf/kdkjh dher izkIrdrkZ (Price taker) ugha gksrk cfYd
dher fu/kkZjd (Price maker) gksrk gS fdUrq ,dkf/kdkjh fdlh oLrq dh dher rFkk ml
oLrq dh iwfrZ nksuksa dks ,d lkFk fu;fUtr ugha dj ldrkA ;fn og fodz; dks c<kuk
pkgrk gS rks mls dher de djuh iMsxhA ,dkf/kdkjh ds fy, lhekUr vkxe de gksrk
gS vkSj vkSlr vkxe ls (MR AR) D;ksfa d ,dkf/kdkj esa &
e-I
MR = AR
e
e
vFkok AR = MR
e-I
tgkWa e = ekWax dh yksp

bl izdkj ,dkf/kdkj esa AR rFkk MR odz iznf’kZr fd;s x;s gSaA nksauksa AR rFkk MR
odz uhps fxjrs gSa fdUrq MR de gksrk gS AR lsA
Q.(5) Distinguish between stock and flow and give two examples for each.
LVkWd rFkk izokg esa Hksn dhft, rFkk nks&nks mnkgj.k nhft,A
135
Ans:- Difference between stock and flow :-
Stock Flow
(1) Stock means that quantity of an (1) Flow is that quantity of an economic
Economic variable which is meas- Variable which is measured during the
ured at a particular point of time. Period of time.
(2)Stock has no time dimension. (2) Flow has time dimension as per hour,
Per day, per month and per year.
(3)Stock is a static concept. (3) Flow is a dynamic concept.
(4) Example : (4) examples :
(a) Quantity of money (a) Consumption
(b) Wealth (b) Investment
(c) The Amount of wheat stored (c) Income
(d) Water in a reservoir. (d) water in a river.
mRrj& LVkWd ,oa izokg esa vUrj ( Difference between Stock and Flow )
LVkWd (Stock) izokg (Flow)
(1) LVkWd dk vFkZ fdlh ,d fo’ks"k (1) izokg dk vFkZ ,d vkfFkZd pj dh og

Lke; fcUnq ij ekih tkus okyh ek=k gS ftls fdlh le; vof/k ds
vkfFkZd pj dh ek=k gSA nkSjku ekik tkrk gSA
(2) LVkWd dk dksbZ le; ifjeki ugha (2) izokg dk le; ifjeki gksrk gS tSls
gksrkA izfr ?kaVk] izfr fnu] izfr ekg rFkk
izfr o"kZA
(3) LVkWd ,d LFkSfrd vo/kkj.kk gSA (3) izokg ,d xR;kRed vo/kkj.kk gSA
(4) mnkgj.k & (4) mnkgj.k &
(a) eqnzk dk ifjeki (a) miHkksx
(b) ?ku (b) fuos’k
(c) xksnke esa j[ks xsgwWa dh ek=k (c) vk;
(d) Vadh esa j[kk ikuh (d) unh esa ty
136
Q.(6) Explain the “Micro and Macro” Level of economic activity.

vkfFkZd fdz;k ds O;f"V ,oa lef"V Lrj le>k,WaA
Ans:- Micro Economics – It studies the economic activities of individual unit like
individual form, individual household and individual industries.
Macro Economics – It is associated with the study of groups at entire economy
level, For example aggregate demand and aggregate supply of all goods and
services and entire economy level, national income.national saving, national
investment, total employment, total production.
O;f"V vFkZ’kkL= & O;fDrxr bdkb;ksa ¼ tSls O;fDrxr x`gLFk] O;fDrxr m?kksx
vFkok O;fDrxr cktkj dh vkfFkZd fdz;kvksa dk v/;;u djrk gSA
lef"V vFkZ’kkL= & lEiw.kZ dk;Z O;oLFkk ds Lrj ij lewgksa ds v/;;u ls
lEcfU/kr gSA tSls & vFkZO;oLFkk esa lHkh oLrqvksa rFkk lsokvksa dh lkewfgd iwfrZ
jk"Vªh; vk;] jk"Vªh; cpr] jk"Vªh; fofu;ksx] dqy jkstxkj] dqy mRiknu A
Q.(7) Mention the meaning and characteristics of utilities.
mi;ksfxrk dk vFkZ ,oa mldh fo’ks"krk,Wa crk,WaA
Ans:- Utility means – The capacity of a commodity to satisfy a particular want of
consumer. Every commodity has some inherent want satisfying capacity.
Characteristics of utility :
(1) Utility is a psychological phenol menon. It depends upon the mental status of the
consumer.
(2) Utility is subjective which differs from person to person. Utility of a particular
goods is not same for all consumers.
(3) Utility is a relative concept because it changes from time and place.
(4) Utility is related the expected satisfaction and not from actual realized
satisfaction because expected satisfaction depends upon intensity of
consumption.
oLrq fo’ks"k esa fdlh miHkksDrk dh vko’;drk fo’ks"k dh lUrqf"V dh fufgr {kerk
vFkok 'kfDr dk uke mi;ksfxrk gSA izR;sd oLrq esa dksbZ u dksbZ ,slh fo’ks"krk
137
vo’; fufgr jgrh gS] ftlds dkj.k miHkksDrk mldh ekWax djrk gSA mi;ksfxrk dh
fo’ks"krk,Wa fuEufyf[kr gS &
(1) mi;ksfxrk ,d euksoSKkfud /kkj.kk gS] tks mi;ksfxrk dh n’kk ij fuHkZj djrk gSA
(2) mi;ksfxrk O;fDrijd gksrh gS tks fofHkUu O;fDr;ksa ds fy, fHkUu&fHkUu gksrh gS
(3) mi;ksfxrk dk fopkj lkisf{kd gS D;ksafd mi;ksfxrk le; vkSj LFkku ds vuqlkj
ifjofrZr gksrh jgrh gSA

(4) mi;ksfxrk dk vFkZ vuqekfur larqf"V ls fy;k tkrk gS u fd okLrfod larqf"V ls
D;ksafd vuqekfur larqf"V mi;ksx dh rhozrk ij fuHkZj gSA
Q.(8) Mention the features of perfect competition.
Ikw.kZ izfr;ksfxrk dh fo’ks"krkvksa dks crk,WaA
Ans :- Characteristics of Perfect competition :-
(1) Large Number of Buyers and sellers,
(2) Homogeneous product,
(3) Free Entry and Exit of Firms,
(4) Perfect Knowledge of the Market,
(5) Perfect Mobility of Factor,
(6) No Transportation cost.
mRrj %& iw.kZ izfr;ksfxrk dh fo’ks"krk,Wa &
(1) dszrk vkSj fodzsrkvksa dh vf/kd la[;k
(2) oLrqvksa dh le:Ik bdkbZ;kWa
(3) Qeksa ds izos’k o fu"dklu dh Lora=rk
(4) cktkj dh n’kkvksa dk iw.kZ Kku
(5) lk/kuksa dh iw.kZ xfr’khyrk
(6) dksbZ ;krk;kr ykxr ughaA
Q.(9) What is meant by Balance of Payment ?

Hkqxrku larqyu ls D;k vfHkizk; gS ?
Ans:- Balance of Payment refers to the statement of accounts recording all economic
transactions of a given country, it receives payments from and makes payments to
138
other countries. Balance of payments is a statement of accounts of these receipts

and payments.
In other words Balance of Payment is overall records of all economic
transactions of a country in a given period, with rest of the world.
Hkqxrku 'ks"k dk laca/k fdlh ns’k ds 'ks"k fo’o ds lkFk gq, lHkh vkfFkZd
ysu&nsu ds ys[kakdu ds fjdkMZ ls gSA izR;sd ns’k fo’o ds vU; ns’kksa ds lkFk
vkfFkZd ysu&nsu djrk gSA bl ysu nsu ds QyLo:i mls vU; ns’kksa ls izkfIr;kWa
izkIr gksrh gSa rFkk mls vU; ns’kksa dks Hkqxrku Hkh djuh iMrh gSA Hkqxrku 'ks"k bUgha
izkfIr;ksa ,oa Hkqxrkuksa dk fooj.k i= gksrk gSA nwljs 'kCnksa esa] fdlh ns’k dk Hkqxrku
'ks"k fdlh fn, gq, le; esa lEiq.kZ fo’o ds lkFk mlds ysu&nsu dk y[kk&tks[kk
gksrk gSA
Q.(10) What is meant by revenue deficit ? What are its effects ?
jktLo ?kkVk D;k gS ? blds D;k izHkko gksrs gSaA
Ans:- Revenue deficit is the excess of revenue expenditures over revenue receipts.
Revenue reciepts include both tax revenue and non-tax revenue.Similarly
revenue expenditures also include both plan and non-plan expenditure on
revenue account .Revenue deficit does not include items of capital receipts and
capital expenditures.While revenue deficit creates liability for the government or

reduces its assets.
jktLo O;; vkSj jktLo vk; ds varj dks jktLo ?kkVk dgrs gSaA jktLo izkfIr;ksa esa
dj jktLo vkSj xSj dj jktLo nksuksa dks gh lfEefyr fd;k tkrk gSA blh izdkj
jktLo O;; esa jktLo [kkrs ij ;kstuk O;; vkSj xSj ;kstuk O;; nksuksa dks gh
lfEefyr fd;k tkrk gSAjktLo ?kkVs esa iwWathxr izkfIr;ksa ,oa iwwathxr O;; dh ensa
lfEefyr ugha gksrhA
jkTkLo ?kkVs ds ifj.kkLo:Ik ;k rks ljdkj ds nkf;Ro esa o`f) gks tkrh gS
vFkok bldh ifjlEifRr esa deh vk tkrh gSA
139
MODEL PAPER
d{kk & XII
vFkZ’kkL= ¼okf.kT;½ Economics (Commerce)
set – 4
nh?kZ mÙkjh; iz’u 5x6 = 30
funsZ’k % iz’u la[;k 11ls15 rd nh|Z mÙkjh; iz’u gS rFkk izR;sd ds fy, ds
Q.(11) Mention the uses of Demand and supply in price determination of goods.
oLrq dher fu/kkZj.k esa ekWax ,oa iwfrZ odzksa ds mi;ksx dks fy[ksaA
Ans:- Demand and supply are two important forces which play dominant role in price
determination.
In the market, the price of the commodity is determined at a point. Where
( Demand for commodity = Supply of commodity )
The price at which demand for and supply of the commodity becomes equal is
termed as ‘equilibrium price’. In other words, equilibrium price refers to that price
at which buyer (i.e. , demand side ) is ready to buy and the seller (i.e. ,supply
side ) is ready to sell. Buyers demand the commodity due to its utility while the
seller sells it for earning profit.
In the words of Marshall, “ The equilibrium price is the price at which the
quantity of goods which the sellers are willing to offer is equal to the quantity
which the buyers want to purchase.”
Demand for commodity – The demand for the commodity is made by the buyer
because of its utility. In practice, the demand for the commodity is governed by
the ‘Law of Demand’ i.e. , higher demand by the consumer at lower price and
less demand at higher price. Thus consumer’s Demand curve DD slopes
downward from left to right.
140
Y
D
Price
D
O X
Quantity
Suppy of commodity – Supply of the commodity is made by the seller because
seller wants to earn profit by selling the commodities.In paractise,the supply of
the commodity is governed by the ‘Law of supply ’ i.e. , more quantity at lower
price. Thus the supply curve of the commodity slopes upward from left to right
which states the direct relationship between price and quantity supplied.
Commodity price : Demand supply Equilibrium : Buyer
Y s
Price
s
o x
Quantity
Wants to give the least price while the seller wants to take the maximum price of
the commodity. Bargaining takes place between both the parts and at last, the
price of the commodity is determined at the price where both for and supply of
the commodity become equal . This price is called equilibrium price.
In following fig. price determination of the commodity by demand and
supply forces has been shown . supply curve SS cut each other at point E where
price OP is determined. This price OP (or EQ ) shows the equilibrium price.
141
Y D s
E
Price D
s
o x
Quantity
fdlh oLrq ds dher fu/kkZj.k esa ekWax ,oa iwfrZ nks egRoiw.kZ 'kfDr;kWa gSaA cktkj esa
fdlh oLrq dh dher ml fcUnq ij fu/kkZfjr gksrh gS tgkWa oLrq dh ekWax = oLrq dh
iwfrZ ftl dher ij oLrq dh ekWax rFkk iwfrZ cjkcj gks tkrh gS] og dher ‘lUrqyu
;k lkE; dher‘ dgykrh gSA nqljs 'kCn esa] ‘lkE; dher‘ ;k lUrqyu dher og
dher gksrh gS] ftl ij dszrk ¼ekWax i{k½ oLrq [kjhnus dks RkS;kj gksrk gS rFkk fodszrk
¼iwohZ i{k½ oLrq cspus dks rS;kj gksrk gSA dszrk oLrq dh ekWax dh mi;ksfxrk ds dkj.k
djrs gSa tcfd fodzsrk oLrq dks ykHk dekus ds fy, csprs gSaA
Y
D
Price
D
X
Quantity
Ekk’kZy ds 'kCnksa esa ] ‘‘lUrqyu dher og dher gS ftlij fdlh oLrq dh ek=k]
ftls fodzsrk cspus dks bPNqd gS] ml ek=k ds cjkcj gksrh gS ftls dzsrk [kjhnuk
pkgrs gSA
142
oLrq dh ekWax (Demand for commodity) – oLrq dh ekWax dzsrk }kjk dh tkrh gS]
D;ksafd oLrq esa mi;ksfxrk gksrh gS oLrq dh ekWax oLrqr% ekWax ds fu;e
(Law of Demand ) }kjk fu;af=r gksrh gS vFkkZr~ mWaph dher ij miHkksDrk de oLrq
ek=k dh ekWax djrk gS] tcfd de dher ij miHkksDrk dh ;g ekWax c< tkrh gSA
bl izdkj mHkksDrk vFkok dzsrk dk ekWax odz DD fp= ds vuqlkj ck;sa ls nk;sa uhps
fxjrk gqvk gksrk gSA
oLrq dh iwfrZ (Supply of commodity) – oLrq dh iwfrZ fodszrk }kjk dh tkrh gS
D;ksafd mRiknd ¼ ;k fodzsrk½ oLrq cspdj ykHk vftZr djuk pkgrk gSA oLrq dh
iwfrZ oLrqr% iwfrZ ds fu;e }kjk fu;af=r gksrh gS vFkkZr% fodzrk de dher ij oLrq
dh de iwfrZ rFkk mlh dher ij oLrq dh vf/kd iwfrZ izLrqr djus dk bPNqd gksrk
gS bl izdkj oLrq dh dher rFkk iwfrZ ek=k ds chp lh/kk lEcU/k gksus ds dkj.k
iwfrZ odz ck;sa ls nk;sa mij dh vksj c<rk gSA
oLrq dher% ekWax&iwfrZ lkE; (Commodity Demand-supply Equilibrium) – izR;sd
oLrq dh de ls de dher nsuk pkgrk gS rFkk fodzsrk oLrq dh vf/kd ls vf/kd
dher izkIr djuk pkgrk gSA vr% nksuks i{k lkSnsckth djrs gSa vkSj var esa oLrq dh
dher ml fcUnq ¼ftls lkE; vFkok larqyu fcUnq dgrs gSaA½ ij fu/kkZfjr gksrh gS
tgkWa oLrq dh ekWax oLrq dh iwfrZ ds Bhd cjkcj gksrh gSA
Y s
Price
s
o x
Quantity
bl fcUnq dks lUrqyu dher ( Equilibrium price ) dk fcUnq dgk tkrk gSA
fp= esa ekWax dh iwfrZ 'kfDr;ksa }kjk oLrq dh dher dk fu/kkZj.k fn[kk;k x;k gSA
oLrq dh DD odz rFkk iwfrZ SS odz vkil esa ,d nqljs dks fcUnq E ij dkVrs gSA
fcUnq E ij fu/kkZfjr dher OP ( vFkok EQ ) larqyu dher gSA
143
Y D s
E
Price D
s
o x
Quantity
Q.(12) If national income is Rs.50 crores and saving Rs.5 crores, Find out average
propensity to consume When income rise to Rs.60 crores and saving to Rs.9
crores. What will be the average propensity to consume and the marginal
propensity to save ?
;fn jk"Vª vk; :. 50 djksM rFkk cpr :. 5 djksM gks rks vkSlr miHkksx izo`fr D;k
gksxh ? ;fn vk; c<dj :. 60 djksM rFkk cpr c<dj :. 9 djksM gks tk, rks
vkSlr mi;ksx izo`fr rFkk lhekUr mi;ksx izo`fr Kkr dhft,A
Y =C+5
50 = C + 5
C = 50 – 5 = 45
C
APC =
Y
45
= = 0.9
60
.: Y = 60 – 50 = 10
S = 9 - 5 = 4
C = Y - S
= 10 - 4 = 6
Hence in second situation
C
144
APC =
Y
Y-S
=
Y
60 – 9 51
= = = 0.85 Ans.
60 60
C
MPC =
Y
6
= = 0.6 Ans
10
Q.(13) What is exchange rate ? Explain the favourable and unfavourable exchange
rate.
fofue; nj D;k gS ? vuqdwy ,oa izfrdwy fofue; njksa dks le>kb,A
Ans:- Foregin Exchange Rate : - Foreign exchange rate refers to the rate at which
one unit of currency of a country can be exchanged for the number of units of
currency of another country. In other words , it is the price paid in domestic
currency in other to get one unit of foreign currency. In other words exchange
rate expresses the ratio of exchange between the currencies of two countries.
Hence , exchange rate is the price of currency expressed in terms of another
currency.
(1) According to sayer , “ the price of currencies in terms of each other are
called foreign exchange rate.”
145
(II) According to Crowther , “ The rate of exchange measures number of units of

one currency which is exchanged in the foreign market for one unit or another.
Favourable and Unfavourable Exchange Rates : Exchange rate may be
favourable or unfavourble.
(A) In Domestic Currency : When exchange rate is experessed in terms of
domestic Currency , then falling exchange rate will be favourable and
increasing exchange rate becomes unfavourable.
For example , let us assume that 1 Pound = Rs 80. If exchange
rate decreases to Rs 78, it will be favourable for India because now we have
to give less money for 1 Pound. On the contrary if 1 Pound = Rs 82 ,
exchange rate will be unfavourable for India because we have to give more
money for one pound.
(b) In foreign currency :- When exchange rate is expressed in terms of foreign
currency, increasing exchange rate will be favourable for domestic currency
and decreasing exchange rate will be unfavourable for the domestic country.
For example: Suppose Rs 1 = 4 cent. If Rs 1 becomes equal to 5 cent,
it will be favourable for our country as we will get 5 cent for Rs 1. On the
contrary, if exchange rate becomes Rs 1 = 3 cent, then exchange rate will be
unfavourable because now less goods could be purchased in lieu of Rs 1.
fons’k fofue; nj & fofue; nj og nj gS ftl ij ,d ns’k dh ,d eqnzk
bZdkbZ dk nwljs ns’k dh eqnzk esa fofue; fd;k tkrk gSA nwljs 'kCn esa] fons’kh
fofue; nj ;g crkrh gS fd fdlh ns’k dh eqnzk dh ,d bZdkbZ ds cnys esa
nwljs ns’k dh eqnzk dh fdruh bdkb;kWa fey ldrh gSA bl izdkj fofue; nj
?kjsyq eqnzk ds :Ik esa nh tkusokyh og dher gS tks fons’kh eqnzk dh ,d bZdkbZ
ds cnys nh tkrh gSA
lsolZ ds vuqlkj] ‘‘pyu eqnzkvksa ds ijLij eqY;ksa dks gh fons’kh
fofue; dgrs gSaA”
dzkmFkj ds vuqlkj] ‘‘fofue; nj ,d ns’k dh bZdkbZ eqnzk ds cnys
nwljs ns’k dh eqnzk dh feyus okyh bdkb;ksa dh eki gSA”
146
vuqdwy ,oa izfrdqy fofue; njsa & fofue; dh njsa vuqdwy ;k izfrdwy gks
ldrh gSA
¼v½ ?kjsyq eqnzk esa & tc fofue; nj viuh eqnzk esa O;Dr dh tkrh gS rks rc
fxjrh gqbZ fofue; nj gekjs vuqdwy gksxh vkSj c<rh gqbZ fofue; nj gejs
izfrdwy gksxhA
mnkgj.k & eku yks] 1 ikS.M = 80 :A ;fn fofue; nj ?kVdj 1 ikS.M
= 78: gks tk;s rks Hkkjr ds i{k esa gksxk D;ksafd vc gesa 1 ikS.M dk eky
[kjhnus ds fy, igys ls de :Ik;s nsus iMsxsaA blds foijhr] fofue; nj
c<djA 1 ikS.M = : 82 gks tk;s rks fofue; ns’k ds foi{k esa gks tk;sxh
D;kasfd vc gesa 1 ikS.M dk lkeku dz; djus gsrq igys dh vis{kk vf/kd
:Ik;s nsus iMsaxsA
¼c½ fons’kh eqnzk & tc fofue; nj fons’kh dh eqnzk esa izdV dh tkrh gS rks
c<rh gqbZ fofue; nj Lons’k ds i{k esa gksxh rFkk fxjrh gqbZ fofue; nj
Lons’k ds foi{k esa gksxhA
mnkgj.k & eku fd : 1= 4 ls.V gSA ;fn nj : 1= 5 ls.V gks
tk;s rks ;g fofue; nj ns’k ds i{k esa gksxh D;ksafd vc ge : 1 ds cnys
esa vf/kd ls.V ;k vf/kd fons’kh lkeku [kjhnrs gSaA blds foijhr ;fn fofue;
nj : 1= 3 ls.V gks rks fofue; nj ns’k ds foi{k esa gksxh D;ksafd vc : 1
ds cnys esa de ls.V ;k fons’kh lkeku [kjhn ldrs gSaA
Q.(14) Explain the various type of taxes.
djksa ds fofHkUu izdkj crkb,A
Ans:- Types of Taxes
(1) Direct and Indirect Taxes:
(i) Direct Tax : Direct Taxes are those taxes which are paid by the same person
whom they are levied. The person on whom direct tax is levied cannot shift
its burden to others. It has to be borne by the tax-payer himself. In other
words, when impact and incidence of tax fall on the same person, it is
called direct tax,
For Example, income tax, property tax, profession tax, wealth tax, etc,are
regarded as direct taxes.
147
(ii) Indirect Tax: Indirect taxes are those taxes whose burden can be shifted i.e. ,
indirect tax is one which is imposed on one person but it is paid partly or
wholly by another person. For example , union excise duties, sales tax,
custom duties, etc. When we buy goods from a shopkeeper, we have to
pay trade tax with the price of the goods. Shopkeeper pays tax on his sale
to the government and diverts it on his consumer. Due to this shifting of the
tax, trade tax is called indirect tax.
(2) Proportional, Progressive and Regressive Taxes.
(i) Proportional Tax – Taxes in which the rate of tax remains constant whatever
the size of the tax base may be. For example, if the rate of income tax
remains 20 percent whatever the size of income is, it will be a proportional
tax.
(ii) Progressive Tax- Taxes in which the rate of tax increases with the increases
in the size of tax base, are called progressive taxes. In India, income tax is
a progressive tax.
(iii) Regressive Tax- When the rate of tax decreases as the tax base increases
the taxes are called regressive taxes. The burden of such taxes falls, more
heavily on the poor than on the rich.
(3) Specific and Ad- valorem Tax
According to method of assessment, taxes on commodities may be classified
into two groups – specific and ad-valorem.
(i) Specific tax – Specific taxes are those taxes which are based on specific
qualities or attributes of goods such as weight, number or volume of the
commodity taxed. For example, tax on the sugar on the basis of units of
weight and on the cloth on the basis of length units are specific taxes.
(ii) Ad-valorem tax – Whereas taxes are levied entirely on the basis of money-
value of the goods they are called ad-valorem taxes. For example, import
or export duties are lived in terms of value. Imported or exported goods
have nothing to do with their size, length and weight.
148
djksa ds izdkj& djksa ds izdkj fuEuor~ gSaA

(1) izR;{k ,oa vizR;{k dj
(i) izR;{k dj & izR;{k dj og dj gS tks ftl O;fDr ij yxk;k tkrk gS] og
O;fDr gh mldk Hkkj mBkrk gSA bl dj dks Vkyk ugha tk ldrk gS] u gh
bldk Hkkj vakf’kd ;k iw.kZ :I esa fdlh vU; O;fDr ij gLrkUrfjr fd;k
tk ldrk gSA nwljs 'kCn esa] tc fdlh dj dk djk?kkr rFkk djkikr ,d gh
O;fDr ij iMrk gS] rc ;g dj izR;{k dj dgykrk gSA izR;{k dj dk
lcls vPNk mnkgj.k vk;dj gS D;ksafd ;g ftl O;fDr ij yxk;k tkrk gS]
ogh O;fDr mldh vnk;xh djrk gSA izR;{k dj ds vU; mnkgj.k gS& fuxe
dj] lEifRr dj] O;; dj] lEink 'kqYd vkfnA
(ii) vizR;{k dj & tks dj fdlh ,d O;fDr ij yxk;s tk,Wa ijUrq mudk Hkqxrku
iw.kZ vFkok vkaf’kd :Ik ls nwljs O;fDr djsa] os vizR;{k dj dgykrs gSA
vkizR;{k dj dk Hkqxrku djus dk nkf;Ro rFkk dj dk ekSfnzd Hkkj
fHkUu&fHkUu O;fDr;ksa ij iMrk gSA bl izdkj mRikn dj] lhek 'kqYd]
vkcdkjh] fcdzh&dj bR;kfn vizR;{k dj ds mnkgj.k dgs tk ldrs gSaA
(2) vkuqikfrd] izxfr’khy ,oa izfrxkeh dj
(i) vuqikfrd dj & vkuqikfrd dj og dj gS ftlesa lHkh vk; Lrjksa ij ,d gh
nj ls dj yxk;k tkrk gS vFkkZr~ pkgs vk; ?kVs ;k c<s oLrq dj dh nj
,d leku jgrh gSA
(ii) izxfr’khy dj & izxfr’khy dj og dj gS ftldh nj vk; c<us ds lkFk
c<rh tkrh gSA izxfr’khy dj esa de vk; Lrj ij de nj ls rFkk vf/kd
vk; Lrj ij vf/kd nj ls dj vkjksfir fd;k tkrk gSA
(iii) izfrxkeh dj & izfrxkeh dj ml dj dks dgrs gSsa ftldk Hkkj vehjksa dh
vis{kk xjhcksa ij vf/kd iMrk gSA tSls&tSls dj ;ksX; vk; c<rh tkrh gS]
dj dh nj ?kVrh tkrh gSA
(3) fof’k"V ,oa ewY;kuqlkj dj
(i) fof’k"V dj & tc fdlh oLrq ij mlds out ;k vkdkj ds vuqlkj
vFkok mldh bZdkbZ ds vkdj ds vuqlkj dj yxk;k tkrk gS rks mls
fof’k"V dj dgrs gSA mnkgj.k ds fy,] tc diMs- ij mRiknu dj izfr
ehVj ds fglkc ls vFkok phuh ij mRiknu dj izfr fDo.Vy ds fglkc ls
yxk;k tkrk gS rc bls fof’k"V dj dgrs gSaA
149
(ii) ewY;kuqlkj dj & tc fdlh oLrq ij dj mldh dher ;k ewY; ds

vk/kkj ij yxk;k tkrk gS rks mls ewY;kuqlkj dj dgrs gSaA bl dj ds
varxZr oLrq ,oa vkdkj pkgs tks Hkh gks fdUrq dj mlds ewY; ds vuqlkj
gh fy;k tkrk gSA
Q.(15) Explain the two sector model of circular flow of income.
vk; ds pdzh; izokg ds nks {ks=h; ekWMy dks le>kb,A
Ans:- Two sector Model of circular Flow of Income:- In two sector Model of circular
flow of income, there are only two sectors – ‘House hold sector’ ( i.e. , families)
and ‘Producer sector’ ( i.e. , firms) and it deals with circular flow (both money
and real flows ) between these two sectors.
Assumptions :-
(1) The economy consists of two sectors:
(a) Household Sector :- This sector provides its services to producer sector and
consume the goods and services finally produced by producer sector.
(b) Producer Sector :- It produces final goods and services and makes uses of
the services of various factor like land, labour, capital, etc.
(2) Economic policies are not influenced by the government.
(3) Economy is ‘closed economy’ i.e. producer sector makes neither export nor
imports and household sector is fully dependent on domestic production.
(4) Household sector spends its entire income and serves nothing.
150
Structure of Two sector Model :-

Two sector Circular Flow Model
Consumption Expenditure
Goods and services (Real flow)
Producer / Firms House holds
Factor services: Land, Labour,

capital, Enterpreneurship (Real Flow)
Factor Payments: Rent, wages,
Interest, Profits (MoneyFlow)
Conclusions of the Model:

Two sector Circular flow Model concludes the following facts:
(1) Total goods and services produced by the producer sector equals the
consumption of goods and services made by household sector.
(2) Factor payment made by firms equals the factor income received by
household sector.
(3) Consumption expenditure of household sector equals the income of
household sector.
(4) Real flow of production and consumption of firms and households is equal to
the money flow of income and expenditure of firms and households.
vk; ds pdzh; izokg dk nks {ks=h; ekWMy & vk; ds pdzh; izokg ds nks {ks=h;
ekWMyksa esa vFkZO;oLFkk ds dsoy nks {ks=ksa & ?kjsyq {ks= ¼vFkkZr~ ifjokj ½ rFkk
mRiknd {ks= ¼vFkkZr~ QeZ½ ds chp gksusokys pdzh; izokgksa ¼okLrfod ,oa ekSfnzd½ dk
v/;;u fd;k tkrk gSA
f}{ks=h; ekWMy dh lajpuk &
f}{ks=h; pdzh; izokg ekWMy

151
miHkksx O;;
oLrq,Wa ,oa lsok,Wa ¼okLrfod izokg½
mRiknd/QeZ ?kjsyw ifjokj
lk/ku lsok,Wa% Hkwfe] Je iwWath] m/kferk

¼okLrfod izokg½
Lk/ku Hkqxrku% yxku] etnwjh C;kt] ykHk
¼ekSfnzd izokg½
ekU;rk,Wa &
(1) vFkZO;oLFkk esa dsoy nks {ks= gSa &
(i) ?kjsyw {ks= & ;g {ks= mRiknd {ks= dks mRiknu ds dkjdksa dh lsok,Wa iznku
djrk gS rFkk mRiknd {ks= }kjk mRikfnr vafre oLrqvksa rFkk lsokvksa dk
miHkksx djrk gSA
(ii) mRiknd {ks= & ;g {ks= vfUre oLrqvksa rFkk lsokvksa dks mRiUu djrk gSA
;g {ks= mRiknu ds dkjdksa dh lsokvksa tSls&Je]iwWath vkfn dk iz;ksx djrk
gSA
(2) ljdkj dk vkfFkZd fdz;kvksa ij dksbZ izHkko ugha iMrk gSA
(3) vFkZO;oLFkk ,d cUn vFkZO;oLFkk gS vFkkZr mRiknd {ks= }kjk oLrqvksa dk
fu;kZr ;k vk;kr ugha fd;k tkrk vkSj ?kjsyw {ks= dsoy ?kjyw mRiknu ij
fuHkZj djrk gSA
(4) ?kjsyw {ks= viuh laiw.kZ vk; oLrqvksa ,oa lsokvksa ij O;; djrs gSa vFkkZr~ dksbZ
cpr ugha djrsA
ekWMy dk fu"d"kZ & f}&{ks=h; pdzh; izokg ekWMy ds izeq[k fu"d"kZ fuEuor~
gSa&
(i) QeksaZ }kjk mRikfnr dqy oLrq,Wa rFkk lsok,Wa = ifjokj {ks= }kjk fd;k x;k
dqy oLrqvksa rFkk lsokvksa dk mi;ksx
(ii) QeksaZ }kjk fd;k x;k lk/ku Hkqxrku = ifjokj {ks= }kjk izkIr lk/ku vk;
(iii) Ifjokj {ks= dk miHkksx O;; = ifjokj {ks= ds vk;
(iv)QekasZ RkFkk ifjokj {ks= ds mRiknu rFkk miHkksx dk oLrfod izokg = QeksZa
rFkk ifjokj {ks= dh vk; rFkk O;; ds ekSfnzd izokgA
152
MODEL PAPER
d{kk &XII
Set – 5
[k.M & 1 (Section- 1)
oLrqfu"B iz’u (Objective Type Questions.)
funsZ’k & iz’u la[;k 1 ls 40 rd esa pkj fodYi fn, x, gS] ftuesa ls ,d lgh gS A lgh
fodYi dks
pqus ,ao i= esa fpfUgr djsa]
Instruction :- For questions no. 1 to 40 there are four alternatives of which

only one
is correct. Chose the correct alternative and mark it in the
answersheet.
(1) Which of the following is studied under Micro Economics?

a. Individual Unit b. Economic Aggregate
c. National Income d. None of the above.
O;f"V vFkZ’kL«k ds vUrZxr fuEu esa ls fdldk v?;;u fd;k tkrk gS \
d- O;fDrxr bdkbZ [k- vkfFkZd le;
Xk- jk"Vªh; vk; ?k- mi;qZDr esa ls dksbZ ugh
5 problems has
2. On which base structure of economic
been installed ?
a. unlimited wants b. Limited Resources

153
c. Both a & b d. None of the above
fuEu esa ls fdl vk/kkj LrEHk ij vkfFkZd leL;kvksa dk <k¡pk [kMk gS \

d- vlhfer vko’;drkvksa [k- lhfer lk/ku
x- d vkSj [k nksuks ?k- buesa ls dksbZ ugh
3. Economy may be classified as :
a. Capitalist b. Socialist
c. Mixed d. All of these.

vFkZO;OkLFkk dks oxhZd`r fd;k tk ldrk gS
d- iwathoknh ds :i esa [k- lektoknh ds :i esa
x- fefJr ds :i esa ?k- buesa ls lHkh
4. Which is a central problem of an economy ?
a. Allocation of Resources b. optimum utilization of Resources
c. Economic Development d. All of these
vFkZO;oLFkk dh dsUnzh; leL;k dkSu lh gS \

d- lk/kuksa dk vko.Vu [k- lk?kuksa dk dq”kyre iz;ksx
x- vkfFkZd fodkl ?k- buesa ls lHkh
5. Which economy has a co-existence of Private and Public sector ?
a. Capitalist b. Socialist c. Mixed d. None of these

- fuEu esa ls fdl vFkZO;oLFkk esa futh {ks= ,oa lkoZtfud {ks= dk lgvfLrRo gksrsa gS \
d- iw¡thoknh [k- lektoknh x- fefJr ?k- bUkesa ls dksbZ ugh
6. The capability of a commodity to satisfy human wants as :
a. Consumption b. Utility c. Quality d. Taste

154
- fdlh oLrq dh ekuoh; vko’;drk dks lUrq"V djus dh {kerk gS &

d- mi;ksx [k mi;ksfxrk x- xq.k ?k- :fp
7. which element is essential for demand ?
a. Desire to consume b. Availability of adequate resources
c. Willingness d. All of these
ek¡x esa dkSu lk rRo fufgr gksrk gSa

d- oLrq dh bPNk [k ,d fuf’pr ewY;
x- lk?ku O;; djus dh rRijrk ?k- mi;qZDr lHkh
8. With a rise in price the demand for ‘griffin’ goods
a. Increase b. Decreases
c. Remains constant d. Becomes unstable
ewY; o`f) ls ^ ftfQu^ oLrqvksa dh

d- ek¡x c< tkrh gS [k- ?kV tkrh gS
x- fLFkj jgrh gS ?k- vfLFkj jgrh gS
9. The slope of the demand curve of a normal goods is :
a. Negative b. Positive c. Zero d. Undefined

- fdlh lkekU; oLrq ds ek¡x odz dh <ky gksrh gS &
d- _.kkRed [k- /kukRed x- 'kwU; ?k- vifjHkkf"kr
10. Which of the following is a demand function ?
a. b. = c. =f ( d. none of these
155
- ek¡x Qyu dks fuEufyf[kr esa dkSu lk lehdj.k O;Dr djrk gS \
a. b. = c. =f ( d. buesa ls dksbZ ugha
11. Long-run production function is related to :
a. Law of demand b. Law of increasing returns
c. Law of returns to scale d. Elasticity of demand
nh?kZdkyhu mRiknu Qyu dk lEcU/k fuEu esa fdlls gS \

d- ek¡x ds fu;e ls [k mRiRrh o`f) fu;e ls
x- iSekus ds izfrQy fu;e ls ?k- ek¡x dh yksp ls
12. The shape of average cost curve is :
a. U-Shaped b. Rectangular Hyperbola shaped
c. Line parallel to x-axis d. None of these
vkSlr ykxr odz dk vk/kkj gksrk gSA
d- U v{kj tSlk [k- ledks.kh; vfrijoy; tSlk
x- X v{kj tSlk ?k- buesa ls dksbZ ugh
13. The basic condition of firm’s equilibrium is :-
a. MC=MR b. MR=TR c. MR=AR d. SE=AR
QeZ ds larqyu esa izFke 'krZ gS &
a. MC=MR b. MR=TR c. MR=AR d. SE=AR
14. For a firm’s equilibrium :-
a. MR=MC b. MR>MC c. MR<MC d. MR=MC=O
QeZ ds larqyu esa gksrk gS &

156
a. MR=MC b. MR>MC c. MR<MC d. MR=MC=O
15. If the price of the goods rises by 40% and supply increase by only
50%,the
supply of goods will be :
a. Highly Elastic b. Elastic
c. Inelastic d. Perfectly Inelastic
;fn fdlh oLrq dh dher esa 40% dh o`f) gks ijarq iwfrZ esa dsoy 15% dh o`f)
gks ,slh oLrq dh iwfrZ gksx

s h\
d- vR;f/kd ykspnkj [k- ykspnkj
x- csykspnkj ?k- iw.kZr% csykspnkj
16. When supply increases more with a result of small increase
in price, the nature of supply will be :
a. Elastic b. Inelastic
c. Perfectly Elastic d. Perfectly Inelastic

tc dher esa FkksMk lk ifjorZu gksus ij iwfrZ esa T;knk o`f) gks tk, rks iwfrZ dk
Lo:Ik fuEufyf[kr esa dkSu lk gksxk \
d- ykspnkj [k- csykspnkj
x- iw.kZ ykspnkj ?k- iw.kZ csykspnkj
17. Who gave the concept of ‘Time Element’ in price determination

process ?
a. Ricardo b. Walras c. Marshall d. J.K.Mehta

157
fuEufyf[kr esa fdlus dher fu/kkZj.k izfdz;k esa le; rRo dk fopkj izLrqr fd;k \
d- fjdkMksZ [k- okyjl x- ek’kZy ?k- tsñdsñesgrk
18. The price of goods in perfect competition is determined by :
a. Bargaining b. Production cost
c. Marginal utility d. Demand and supply
iw.kZ izfr;ksfxrk esa fdlh oLrq dk ewY; fu/kkZfjr gksrk gS

d- eksy Hkko }kjk [k- mRiknu ykxr ls
x lhekar mi;ksfxrk }kjk ?k- ekax ,oa iwfrZ }kjk
19. Who said , “Price is determined by both demand and
supply forces”?
a. Javons b. Walras c. Marshall d. None of the above
fuEufyf[kr esa fdlds vuqlkj fdlh oLrq dh dher ekax vkSj iwfrZ dh “kfDr;ks
}kjk fu/kkZfjr gksrh gS \
d- tsoUl [k- okyjl x- ek”kZy ?k- buesa ls dksbZ ugh
20. Which is a reason of change in demand ?
a. Change in consumer’s income
b. Change in prices of related goods.
c. Population increase d. All the above

ekax esa ifjorZu ds fuEufyf[kr esa dkSu ls dkj.k gS \
d- miHkkssDrk dh vk; esa ifjorZu [k- lacf)r oLrqvksa dh dher es ifjorZu
x- tula[;k o`f) ?k- mi;ZqDr lHkh
158
21. Which determines the equilibrium price ?
a. Demand b. Supply
c. Both (a) and (b) d. None of the above
lkE; dher dk fu/kkZj.k fuEu esa fdlds }kjk LFkkfir gksrk gS \

d- ekax [k- iwfrZ
22. Which one of the following is included in flow ?
a. Consumption b. Investment
c. Income d. All the above
izokg ds vUrxZr fuEufyf[kr esa dkSu 'kkfey gSA

d- miHkksx [k- fuos’k x- vk; ?k- mi;qZDr lHkh
23. Which of the following is included in real flow ?
a. Flow of Goods b. Flow of Services
c. Both a and b d. None of the above

-
okLrfod izokg ds vUrxZr fuEufyf[kr esa dkSu 'kkfey gSA
d- oLrqvksa dk izokg [k- lsokvksa dk izokg
x- d vkSj [k nksuks ?k- bues ls dksbZ ugh
24. Which services are provided by families to a firm ?
a. Land b. Labour
c. Capital and Enterprises d. All the above

ifjokj QeksZ dks fuEufyf[kr esa dkSu lh lsok,¡ iznku djrs gSa \
159
d- Hkwfe [k- Je x- iw¡th vkSj m/ke ?k- mi;qZDr lHkh
25. Which one is included in three-sector model ?
a. Family b. Firm c. Government d. All the above

rhu {ks+=h; ekWMy esa fuEufyf[kr esa dkSu 'kkfey gS \
d- ifjokj [k- QeZ x- ljdkj ?k mi;qZDr lHkh
26. What are the necessary conditions of Barter’s system ?
a. Limited needs b. Limited exchange area
c. Economically backward society d. All the above

oLrq fofue; iz.kkyh dh vko’;d 'krksZa dkSu lh gS \
d- vko’;drkvksa dk lhfer gksuk [k- lhfer fofue; {ks+=
x- vkfFkZd :Ik ls fiNMk lekt ?k- mi;qZDr lHkh
27. Which one is included in the primary function of money ?
a. Medium of Exchange b. Measure of value
c. Both a and b d. Store of value
eqnzk ds izkFkfed dk;Z ds vUrxZr fuEufyf[kr esa fdls 'kkfey fd;k tkrk gSa \
d- fofue; dk ek/;e [k- ewY; dk ekid
x- d vkSj [k nksuks ?k- mi;qZDr lHkh
28. Which one is the bank of the public ?
a. Commercial bank b. Central bank

turk dk cSad dkSu lk gS \
d- O;kikfjd cSad [k- dsUnzh; cSad
160
x- d vkSj [k nksuks ?k buesa ls dksbZ ugh
29. Central bank controls credit through :
a. Bank rate b. Open market operations
c. CRR d. All the above

dsUnzh; cSad 'kk[kk fu;a=.k djrh gSa&
d- cSad nj ds tjh;s [k [kqys cktkj izfdz;k ds tjh;s
Xk lhñ vkjñ vkjñ ds tjh;s ?k buesa ls lHkh
30. Which of the following issue paper currency in the country ?
a. Commercial bank b. Central bank
c. World bank d. Industrial bank

ns’k dk dkxth uksV tkjh djus dk dk;Z dkSu djrk gS\
d- O;olkf;d cSad [k- dsUnzh; cSad
x- fo’o cSad ?k vkS/kksfxd cSad
31. Banking Ombudsman scheme was announced in the year:
a. 1990 b. 1995 c. 1997 d. 2000

cSafdax yksdiky ;kstuk dh ?ksk"k.kk fdl o"kZ dh xbZ &
d- 1990 [k-1995 x-1997 ?k- 2000
32. On which factor Keynesian theory of employment depends ?
a. Affective demand b. Supply
c. Production efficiency d. None of the above

dhUl dk jkstxkj fl)kUr fuEufyf[kr esa fdl ij fuHkZj gS \
d- izHkkoiw.kZ ekax [k iwfrZ x- mRiknu {kerk ?k buesa ls dksbZ ugh
33. Which one is correct ?
161
a. K= b. K= c. K= d. K=
dkSu lk dFku lR; gS \

a. K= b. K= c. K= d. K=
34. Multiplier can be expressed as :
a. K= b. K= c. K=I-S d. None of the above
xq.kkad dks fuEufyf[kr esa fdl lw= }kjk O;Dr fd;k tk ldrk gS \
a. K= b. K= c. K=I-S d. buesa ls dksbZ ugh
35. Which of the following causes the appearance of a Trade Cycle ?
a. Deflationary Conditions b. Inflationary condition

O;kikj pdz ds mRiUu gksus ds fuEufyf[kr esa dkSu ls dkj.k gSa \
d- voLQhfrd n’kk,¡ [k- LQhfrd n’kk,¡
x- d vkSj [k nksuks ?k buesa ls dksbZ ugh
36. In the situation of deflationary gap:
a. Demand increases rapidly b. Supply increases rapidly
c. Both demand and Supply are equal d. None of the above

voLQhfrd varjky dh n’kk;sa %
d- ekax es rsth ls o`f) gksrh gS [k- iwfrZ esa rsth ls o`f) gksrh gSa
Xk iwfrZ vkSj ekax nksuksa cjkcj gksrs gSa ?k buesa ls dksbZ ugh
37. Which one is a kind of exchange rate ?
a. Fixed exchange rate b. Flexible exchange rate

162
fofue; nj ds fuEufyf[kr esa dkSu ls :Ik gSA

d- fLFkj fofue; nj [k ykspiw.kZ fofue; nj
38. The forms of foreign exchange market is /are :
a. Spot Market b. Forward Market
c. Both a and b d. None of these

fons’kh fofue; cktkj ds :i gSa
d- gkftj ;k pkyq cktkj [k ok;nk cktkj
39. Which one is the item of Capital account ?
a. Government Transactions b. Private Transactions
c. Foreign Direct Investment d. All the above
iwt
a h [kkrs ds vUrxZr fuEufyf[kr es fdls 'kkfey fd;k tkrk gS \
d- ljdkjh LkkSns [k futh lkSns
x- fons’kh izR;{k fofu;ksx ?k- mi;qZDr lHkh
40. Which included in the direct tax ?
a. Income tax b. Gift tax
c. Both a and b d. None of these

izR;{k dj ds vUrxZr fuEu eas fdls 'kkfey fd;k tkrk gS \
d- vk; dj [k migkj dj
-
163
MODEL PAPER
Set – 5
Answer:-
1.(d) 2. (c ) 3. (d) 4. (d) 5. (c) 6. (b) 7. (d)

8. (a)
9. (a) 10. (c) 11. (c) 12. (a) 13. (a) 14. (a) 15. (c)
16. (a)
17. (c) 18. (d) 19. (c) 20. (d) 21. (c) 22. (d)
23. (c)
24. (d) 25. (d) 26. (d) 27. (c) 28. (a) 29. (a)
30. (b)
31. (b) 32. (a) 33. (b) 34. (b) 35. (c) 36. (d) 37.
(c)
38. (c) 39. (d) 40. (c)

164
MODEL PAPER
d{kk &XII
Set – 5
[k.M & II (Section- II)
y?kq&mÙkjh; iz’u (Short-Answer type questions)
funsZ’k & iz’u la[;k 1 ls 10 rd Yk/kq mÙkjh; iz’u gS rFkk izR;sd ds fy, 3 vad
fu/kkfjZr gS A
Instruction :- For questions 1 to 10 are short answer type and each question
carries 3
marks.
1. Why is production possibility curve concave towards origin ?
Explain.
mRiknu laHkkouk oØ ewy fcUnw dh vksj vory D;ksa gksrk gS \ Li"V dhft,A
2. What do you mean by Giffin goods ?
fxfQu oLrqvksa ls D;k vfHkizk; gS A
3. What is real cost ? How does it differ with money cost ?
okLrfod ykxkr D;k gS \ ;g ekSfnzd ykxr ls fdl izdkj fHkUu gSA
4. Distinguish between perfect competition and pure competition.
iw.kZ izfr;ksfxrk ,ao 'kq) izfr;ksfxrk esa varj Li"V dhft, A
5. Distinguish between GDPFC and NDPFC.
varj Li"V dhft, GDPFC vkSj NDPFC.
6. What is liquidity track ?
rjyrk tky D;k gS \
7. If additional investment is 100 Crore and MPC= , how much
additional
165
income will be generated in the Economy ?

,d vfrfjDr fuos’k 100 Crore vkSj MPC= , gks rks vFkZO;oLFkk esa fdruh
vfrfjDr vk;
dk l`tu gksxk \
8. Difference between Direct tax and Indirect tax ?
izR;{k dj rFkk vizR;{k djksa esa varj A
9. Explain the importance of fiscal deficit.

jktdks"kh; ?kkVs dk egRo crkb,A
10. What is meant by balance of trade ?

O;kikj larqYku ls D;k vfHkizk; gS\
166
Long Answer Type Question.

nh?kZ mÙkjh; iz’u
funsZ’k & iz’u la[;k 11 ls 15 rd nh?kZ mÙkjh; iz’u gS rFkk izR;sd ds fy, 6 vad
fuZ/kkfjr gS A
Instruction :- For questions no 11 to 15 are long answer type and each
question
carries 6 marks.
11. Explain the Geometrical Method of Price Elasticity of demand with

diagram.
ek¡x dh dher&yksp dh T;kfefr; fof/k dks lfp«k le>kb,A
12. Explain the law of Demand. What are its assumptions?

Ekk¡x ds fu;e dh O;k[;k djsaA bldh ekU;krk,sa D;k gS \
13. What is meant by perfect competition ? What are its main

characteristics ?
iw.kZ izfr;ksfxrk ls D;k vfHkizk; gS\ bldh izeq[k fo’ks"krk,¡ D;k gS\
14. What do you mean by commercial bank ? What are the limitations of
its
credit creation ?
O;kikfjd cSad ls vki D;k le{krs gS\ mlds lk[k fuekZ.k dh lhek,¡ D;k gS\
15. Explain progressive, proportional and regressive tax with examples.

izxfr'khy]vkuqikfrd ,ao izfrxkeh dj dks mnkgj.k lfgr le{kkb,A
167
Short Answer type questions.

y?kq mÙkjh; iz’u
funsZ’k & iz’u la[;k 1 ls 10 rd y?kq mÙkjh; iz’u gS rFkk izR;sd ds fy, 3 vad fu/kZkfjr gS A
Instruction :- For questions no 1 to 10 are short answer type and each
question
carries 3 marks.
1. Why is Production Possibility Curve Concave towards origin ? Explain.?
mRiknu laHkkouk oØ ewy fcUnq dh vksj voru D;ksa gksrk gS] Li"V dhft,\
Ans:- Production Possibility Curve is Concave to the origin which

signifies that if
we want to increase production of one goods (goods-X) then we
have to
sacrifice production of second goods (goods-Y) and the sacrifice of
Y goods
for every additional x-goods will continuously increase. Due to this
reason,
the production possibility curve become concave to the origin.
lHkh mRiknu laHkkouk oØ vius ewy fcUnq ds izfr voru gksrs gSA bldk
vfHkizk; ;g gS fd tc ge fdlh ,d oLrq (xoLrq) dk mRiknu c<-kuk pkgrs gS
rks ges nwljh oLrq (yoLrq) ds mRiknu dk R;kx djuk iMsxk vkSj x oLrq dh
izR;sd vfrfjDr bZdkbZ ds fy, y dh mÙkjksÙkj vf/kd ek«kk dk gesa R;kx djuk
i³sxk ftlds dkj.k mRiknu laHkkouk oØ ewy fcUnq dh vksj vory gks tkrk gSA
2. What do you mean by Giffin Goods ?
fxfQu oLrqvksa ls D;k vfHkizk; gSA
168
Ans:- Giffin goods are those inferior goods whose income effect is negative
and price
effect is positive. Law of demand is not applicable in case of Giffin
goods.
fxfQu oLrq ,slh fuEu dksfV dh oLrq gSa ftldk vk; izHkko _.kkRed gksrk gS rFkk
dher izHkko ?kukRed gksrk gSA fxfQu oLrq ij ek¡x dk fu;e ykxw ugh gksrk gSA
3. What is Real Cost? How does it differ with Money cost ?
okLrfod ykxr D;k gS \ ;g ekSfnzd ykxr ls fdl izdkj fHkUu gS \
Ans:- Real cost- this concept was propounded by Marshall. Efforts and
sacrifices
made in the production process create real cost. Real costs are also
termed as
social costs because the society faces a number of difficulties during
the
production process Money cost – cost of production measured in

terms of
money is called the ‘Money Cost’ Money cost is the monetary
expenditure
made by the producer for hiring various factors of Production.
Money cost
is therefore the payment made for the factor in terms of money.
okLrfod ykxr & vFkZ’kkL= esa okLrfod ykxr dh /kkj.kk dk izfriknu ek’kZy us
fd;k FkkA
fdlh mRiknu izfdz;k ds vUrxZr gksus okys d"V ,oa R;kx okLrfod ykxr mRiUu
djrs gSaA
169
okLrfod ykxrksa dks lkekftd ykxr Hkh dgk tk ldrk gSA D;ksfa d lekt dks
oLrqvksa ds
mRiknu esa d"V dk lkeuk djuk iM+rk gSa A
ekSfnzd ykxr & fdlh QeZ }kjk ,d oLrq ds mRiknu esa fd;s x;s dqy eqnzk O;; dks
eqnzk
ykxr dgrs gSaA nwljs 'kCnksa esa ] mRifÙk ds leLr lk/kuksa ds ewY; dks ;fn eqnzk esa
O;Dr dj
fn;k tk;s rks mRiknd bu mRifÙk ds lk/ku dh lsokvksa dks izkIr djus esa ftruk dqy
O;;
djrk gS] ekSfnzd ykxr dgykrh gSA
4. Distinguish between perfect competition and Pure competition.?
iw.kZ izfr;ksfxrk ,oa 'kq) izfr;ksfxrk esa vUrj Li"V dhft, \
Ans:- Perfect competition:- Perfect competition is that market situation in

which a
large number of buyers and sellers are found for homogeneous
product.
Single buyer or the seller are not capable of affecting the prevailing
price and
hence in a perfectly competition market, a single market price
prevails for
the commodity.
According to leftwitch, “perfect competition is a market in which
there are many firms selling identical products with no firm large
enough relative to the entire market to be able to influence market
price.”
170
Pure competition- the concept of ‘Pure competition’ is more real than

the
concept of ‘perfect competition’ chamberlin has made a distinction

between
‘perfect competition’ and ‘Pure competition.’
In the words of Chamberlin, “ Pure competition means

competition unallowed by monopoly elements. It is a much
simpler and less exclusive concept than perfect competition for the
latter may be interpretated to involve perfection in many other
respects than in the absence of monopoly.”
iw.kZ izfr;ksfxrk & iw.kZ izfr;ksfxrk cktkj dh og fLFkfr gksrh gSA ftlls ,d leku
oLrq ds cgqr vf/kd dszrk ,oa fodzrk gksrks gSA ,d dszrk rFkk ,d fodszrk cktkj dher
dks izHkkfor ugh dj ikrs vkSj ;gh dkj.k gSAfd iw.kZ izfr;ksfxrk esa cktkj esa oLrq dh
,d gh dher izpfyr jgrh gSA
Izkksñ ys¶Vfop ds vuqlkj Þiw.kZ izfr;ksfxrk og cktkj fLFkfr gS ftlesa cgqr lh QesZa ,d
leku oLrq,¡ csprh gS vkSj buesa ls fdlh Hkh QeZ dh ;g fLFkfr ugha gksrh fd og
cktkj dher dks izHkkfor dj lds AÞ
'kq) izfr;ksfxrk & 'kq) izfr;ksfxrk dk fopkj iw.kZ izfr;ksfxrk dh /kkj.kk dh rqyuk esa
vf/kd okLrfod fdUrq ladqfpr gSA
iw.kZ izfr;ksfxrk vkSj fo’kq) izfr;ksfxrk esa izksQslj pSEcjfyu us fuEufyf[kr 'kCnksa esa Hksn
Li"V
fd;k gSA
Þ fo’kq) izfr;ksfxrk dk vFkZ ml izfr;ksfxrk ls gS ftl esa ,dkf/kdkjh rRo iw.kZr;k
vuqifLFkr gksA iw.kZ izfr;ksfxrk dh rqyuk esa ;g vf/kd ljy rF; gS D;ksfd iw.kZ
izfr;ksfxrk esa ,dkf/kdkj dh vuqifLFkfr ds vykok vusd iw.kZrk,¡ ik;h tkrh gSA Þ
5. Distinguish between GDPfc and NDPfc. ?
varj Li"V dhft, GDPfc vkSj NDPfc.?
171
Ans:- NDPfc:- Net Domestic Income or Net Domestic Product at factor

Cost
(NDPfc) is the sum total of factor incomes (rent + profit +wages +
interest)
generated within the domestic territory of a country during a year.
NDPfc = NDP mp – Net Indirect taxes
Or
NDPfc = NDPmp- Indirect tax + subsidy
GDPfc: Gross Domestic product at factor cost (GDPfc) is the sum
total of factor incomes (rent + interest + profit + Wages) generated
within the domestic territory of a country, along with consumption
of fixed capital during a year.
GDPfc = NDPfc+ Depreciation
Or
NDPfc = GDPfc – Depreciation
GDPFC- lk/ku ykxr ij ldy ?kjsyq mRikn (GDPFC) ?kjsyq lhek es ,d

ys[kk o"kZ esa
lkekU; fuokfl;ksa }kjk etnwjh] ykxr] C;kt rFkk ykHk ds :Ik esa vftZr vk; rFkk
iw¡th
miHkksx ewY; dk tksM+ gSA
lk/ku ykxr ij ldy ?kjsyq mRikn GDPFC es f?klkoV O;; Hkh lfEefyr gksrk
gSA
tcfd lk/ku ykxr ij 'kq) ?kjsyq mRikn NDPFC esa f?klkoV O;; 'kkfey ugh
gksrk A
172
NDPFC+ f?klkoV O;k; =GDPFC

vFkok
NDPFC=GDPFC- f?klkoV O;;
NDPFC - ,d ns’k dh ?kjsyq lhek ds varxZr ,d ys[kk o"kZ esa mRikfnr lk?ku vk;
¼ yxku$etnwjh$C;kt $ykHk ½ ds tksM dks “kq) ?kjsyq vk; ¼ NDI );k lk?ku
ykxr ij
'kq) ?kjsyq mRikn NDPFC dgk tkrk gSA nwljs “kCnksa esa] lk/ku ykxr ij “kq)]
?kjsyq mRikn
dks gh 'kq) ?kjsyq vk; Hkh dgrs gS ]
bl izdkj] ¼ 'kq) ?kjsyq vk; ½ = ¼ lk?ku ykxr ij 'kq) ?kjsyq mRikn ½
6. What is liquidity Trap ?
Rkjyrk tky D;k gS \
Ans:- It is a situation in which speculative demand for money becomes
perfectly
elastic. It is a situation of absolute liquidity preference. This term
was
coined by prof. J.M.Keynes.
Liquidity appears at a very low rate of interest in which people prefer
to hold
cash rather than invest in bonds. The fear of loss due to minimum
rate of
Y
interest may induce the public to refrain from further security
purchases, the
alternative is simply to hold the additional cash as an idle asset
173
Interest
Interest rate
rate
Liquidity Trap
LP
Perfectly Interest
Liquidity Trap Elastic
X
Speculative Demand for Money
ro LP
Perfectly Interest Elastic

O X
;g og n’kk gS ftlesa lÍs ds fy, eqnzk dh ekax iw.kZr% ykspnkj gs tkrh gS ;g iw.kZ
rjyrk ilUnxh dh n’kk gS bl 'kCnkoyh dk iz;ksx izksñ tsñdhUl }kjk fd;k x;k rjyrk
tky U;wure C;kt nj ¼ fp= es ½ ij izkIr gksrk gS ftls O;fDr ckWM vkfn es fofu;ksx
djus dh vis{kk /ku dks vius ikl udnh ds :Ik esa j[kuk ilUn djrs gSA U;wure C;kt
Y
nj gkfu dh vk’kadk O;fDr;kas dks vkxs izfrHkwfr;kW [kjhnus ls jksdrh gS ftldk fodYi
vfrfjDr udn dks fuf’dz; ifjlEifr ds :Ik esa j[kuk gksrk gSA
Y
Interest rate
Liquidity Trap
LP
Perfectly Interest Elastic
ro X
O
7. If additional investment is Rs 100 crore and MPC= , how much
additional
income will be generated in the economy.?
,d vfrfjDr fuos’k :ñ 100 djksM+ rFkk MPC gks rks vFkZO;oLFkk esa fdruh vfrfjDr
vk; dk
l`tu gksxk \
Ans:-
174
=2 Rs 100 crores
= Rs 200 Crores
8. Difference between Direct Tax and Indirect Tax. ?
izR;{k dj rFkk vizR;{k djksa esa varj \
Ans:- Distinction between Direct tax and Indirect tax .
Direct Taxes Indirect Taxes
1. They are directly paid to the 1. . They are paid to the

government by the person government by one
on whom it is imposed. person but their burden is
borne by another person.
2. They are generally
2. They are generally regressive the rate of tax
progressive. The rate of tax decrease as Income
increases with increase In increases.
income.
3. The can be shifted on to
3. The can’t be shifted on to others.
others.
175
izR;{k dj vizR;{k dj
1- ;s dj ftl O;fDr ij yxk;s tkrs gSa 1- ftl O;fDr dks ;g dj pqdkuk
og O;fDr gh bu djksa dk Hkqxrku iMrk gSA og bls nwljs O;fDr ij
djrk gSA bu djksa dks fdlh vU; ij Mky ldrk gSA
Vkyk ugha tk ldrk gSaA 2- ;s dj izxfr’khy ugha gksrs vkSj
2- ;s dj izxfr’khy gksrs gS vkSj vk; esa lHkh vk; oxZ ds yksaxska dks leku
o`f) ds LkkFk buesa o`f) gksrh gS A :Ik ls ogu djus iM+rs gSA
3- ;s vfuok;Z Hkqxrku gksrs gSaA buls cpk 3- ;fn O;fDr mu oLrqvksa dj yxk;k
ugh tk ldrk x;k gS rks og vizR;{k dj ls cp
ldrk gSA
9. Explain the importance of fiscal deficit. ?

jktdks"kh; ?kkVs dk egRo crkb, \
Ans:- Fiscal deficit is an useful instrument for giving a direction to the
economy
because.
I. It helps in increasing amount of capital expenditure in the

economy.
II. Government can collect more resources for meeting out its
expenditures.
jktdks"kh; ?kkVs dk egRo & jktdks"kh; ?kkVk vFkZO;oLFkk dks fn’kk funsZ’k iznku djus ds
:Ik esa
,d mi;ksxh midj.k gks ldrk gS D;skafd bldh lgk;rk ls
1- vFkZO;oLFkk esa iw¡thxr O;; dh jkf’k esa o`f) lEHko gks ikfr gS A
2- ljdkj vius O;;ksa dh vkiwfrZ ds fy, vf/kd foÙkh; lalk/ku tqVk ikrh gSA
10. What is meant by Balance of trade ?
O;kikj lUrqyu ls D;k vfHkizk; gS \
176
Ans:- Balance of trade is related to only visible items. Difference between

the value
of total visible exports and imports of a country is called ‘Balance of
Trade’ of
that country. Visible items include physical goods as machine, cloth,
cement,
e.t.c
Balance of Trade =[export of visible items]-[Import of visible Items]
O;kikj lUrqyu dk lEca/k O;kikj dh dsoy n`’; enksa ls gSA fdlh ns’k ds dqy n`’;
fu;kZr ,oa
dqy n`’; vk;kr ds ewY; esa ftruk varj gksrk gSA mls ns’k dk O;kikj lUrqyu dgk
tkrk gSA
n`’; enksa esa HkkSfrd oLrq,¡ tSls & e’khu] diM+k] lhesaV ] vkfn lfEefyr gSA
O;kikj lUrqyu =¼ n`’; enksa dk fu;kZr ½& ¼ n`’; enksa dk vk;kr ½
177
Long Answer Type Questions :

nh/kZ mÙkjh; iz’u
fu/Zkkfjr gS A
question
carries 6 marks.
11. Explain the Geometrical method of price elasticity of demand with
diagram.
ekWax dh dher yksp dks T;kfefr; fof| ls lfp= le{kkb;s
Ans:- This method is also called point method. To calculated elasticity of
demand
at any point on the Demand Curve, a tangent on that point is drawn.
According to this method.
In given fig. to calculate elasticity of demand at point R on the

Demand Curve
DD, a tangent AB has been drawn. RB is lower
Y
segment and RA is
upper
segment. Thus, at point R, elasticity of demany will be.
D
= A
R
Price
D
O B X
Quantit
178
bl T;kferh; jhfr esa ekax odz ds fdlh fcanq ij ek¡x dh yksp Kkr djus ds fy, ml
fcUnq ij ,d Li’kZ js[kk [khph tkrh gSA T;kferh; jhfr ds vk/kkj ij
fupyk Hkkx @Åij dk Hkkx
layXu fp= esa ekax odz DDds fcUnq R ij ek¡x dh yksp Kkr djus ds fy, fcUnq R ij
,d Li’kZ js[kk AB [khph xbZ gSA fp= esa RB fupyk Hkkx rFkk RA Åij dk Hkkx gSA vr%
fcUnq R ij ekax dh yksp gksxh A Y
e= fupyk Hkkx @Åij dk Hkkx D
A R D
Q X
Quantity B
12. Explain the law of demand. What are its assumptions. ?

ek¡x ds fu;e dh O;k[;k djsAa bldh ekU;krk;sa D;k gS \
Ans:- Law of demand : Law of demand explains quantitative relation
between
prices of goods and quantity demanded. Every consumer has a

psychology to
buy less amount or quantity of anything at high price and more

quantity at low
price.Ceteris paribus (other things being equal), there is inverse

relationship
between price of a good and quantity demanded i.e. When price is low,
demand is high.
In other words, there is an inverse relation between price of a good

and its demand. When price increases demand decreses and vice versa.
179
Law of demand is ‘qualitative statement’ and not a ‘quantitative statement.

This law locates the direction of price and demand change and not the
quantity of change.
Assumptions of the law of Demand:
Law of demand is based on few.
Assumptions these assumptions are:
1. Consumer’s income should

remain constant.
2. Consumer’s taste, nature etc.
should remain constant.
3. Price of related goods should
remain constant.
4. Consumer’s remain unknown
with new substitutes.
5. There is no possibility of price
change in future.
ek¡x dk fu;e oLrq dh dher vkSj ml dher ij ek¡xh tkusokyh ek=k ds xq.kkaRed laca/k
dks crkrk gSA miHkksxrk viuh euksoSKkfud izo`fr ds vuqlkj vius O;kogkfjd thou ds
Å¡ph dher ij oLrq dh de ek=k [jhnrk gS vkSj de dher ij oLrq dh vf/kd ek=k A
miHkskDrk dh blh euksoSKkfud miHkskx izo`fr ij ek¡x dk fu;e vk/kkfjr gSA
Ek¡kx dk fu;e ;g crkrk gS fd ^ vU; ckrksa ds leku jgus ij ^ oLrq dh dher ,oa oLrq
dh ek=k esa foijhr laca/k ik;k tkkrk gSA nwljs 'kCnksa es]a vU; ckrksa ds leku jgus dh fn’kk
esa fdlh oLrq dh dher esa o`f) gksus ij mldh ek¡x esa deh gks tkrh gS rFkk blds foijhr
dher esa deh gksus ij oLrq dh ek¡x esa o`f) gks tkrh gSA
Li"V gS fd fLFkj n’kkvksa esa oLrq dh dher vkSj oLrq dh ek¡x esa ,d foijhr laca/k ik;k
tkrk gSA
mi;qZDr lehdj.k crkrk gS fd dher c<us ij ek¡x ?kVsxh vkSj dher ?kVus ij ek¡x c<sxh
A
180
ek¡x ds fu;e dh fdz;k’khyrk dqN ekU;rkvksa ij vk/akkfjr gS tks fuEufyf[kr gSA

1- miHkskDrk dh vk; esa dksbZ ifjorZu
ugha gksuk pkfg, A
2- miHkksDrk dh :fPk ]LoHkko ] ilUn
esa dksbZ ifjorZu ugha gksuk pkfg,A
3- lacaf/kr oLrqvksa dh dher esa dksbZ
ifjorZu ugha gksuk pkfg,A
4- fdlh uohu LFkkukiUu oLrq dk
miHkksDrk dks Kku ugha gksuk pkfg,A
5- Hkfo"; es fdlh oLrq dh dher esa
ifjorZu dh laHkkouk ugha gksuk pkfg,A
13. What is meant by perfect competition? What are its main
characteristics?
iw.kZ izfr;ksfxrk ls D;k vfHkizk; gSA bldh izeq[k fo’ks"krk,¡ D;k gS \
Ans:- Perfect competition: Perfect competition is that market situation in

which a
large number of buyers and sellers are found for homogeneous product.
Single
buyer or the sellor are not capable of effecting the prevailing price and
hence, in
a perfectly competion market, a single market price prevails for the

commodity
Definitions.
1. According to leftwitch, “Perfect competitive is a market in which

there are many firms selling identical products with no firm large
181
enough relative to the entire market to be able to influence market

price”
1. According to Mrs. Joan
Robinson, ‘Perfect competitive prevails when the demand for the
output of each producer is perfectly elastic.’
Characteristics or Features of prefect competition:
1. Large Number of buyers and

sellers: Perfect competitive market has a large number of buyers and
sellers and hence, any buyer or seller cannot influence the market
price. In other words, individual buyer or seller cannot influence the
demand and supply conditions of the market.
2. Homogeneous product: The
units sold in the market by all sellers are homogenous in nature.
3. Free entry and exit of firms: In
perfect competition any new firm may join the industry or any old
firm may quit the industry. Hence, there is no restriction on free
entry or exit of firms into/from the industry.
4. Perfect Knowledge of the
market; In perfect competition every buyer has the perfect
knowledge of market conditions. None of the buyers will buy the
commodity at higher price than the prevailing price in the market.
Hence only one price prevails in the market.
5. Perfect mobility of Factors: In
perfect competition, the factors of production are perfectly mobile.
Factors can easily be mobile from one industry to other industry
without any difficulty.
6. No transportation cost:
Transportation cost remains Zero in perfect competition due to which
one price prevails in the market.
iw.kZ izfr;ksfxrk & iw.kZ izfr;ksfxrk cktkj dh og fLFkfr gksrh gSA ftlls ,d leku oLrq
¼Homogeneous product ½ ds cgqr vf/kd dszrk ,oa fodzrk gksrs gSA ,d dszrk rFkk
182
,d fodszrk cktkj dher dks izHkkfor ugh dj ikrs vkSj ;gh dkj.k gS fd iw.kZ izfr;ksfxrk
esa cktkj esa oLrq dh ,d gh dher izpfyr jgrh gSA
ifjHkk"kk,¡&
1- Izkksñ ys¶Vfop ds vuqlkj Þiw.kZ
izfr;ksfxrk og cktkj fLFkfr gS ftlesa cgqr lh QesZa ,d leku oLrq,¡ csprh gS vkSj
buesa ls fdlh Hkh QeZ dh ;g fLFkfr ugha gksrh fd og cktkj dher dks izHkkfor dj
lds AÞ
2- Jhefr jkWfcUlu ds vuqlkj Þ tc
izR;sd mRiknd dh oLrq dh ek¡x iw.kZr% ykspnkj gksrh gS rks og cktkj iw.kZ
izfr;ksfxrk cktkj dgykrk gSAÞ
ia.w kZ izfr;ksfxrk dh fo’ks"krk,¡
1- dszrkvksa vkSj fodszrkvksa dh vf/kd
la[;k&iw.kZ izfr;ksfxrk cktkj esa dszrkvksa vkSj fodszrkvksa dh la[;k cgqr vf/kd gksrh gS
ftlds dkj.k dksbZ Hkh fodszrk vFkok dszrk cktkj dher dks izHkkfor ugha dj ikrkA
bl izdkj iw.kZ izfr;ksfxrk esa ,d dszrk vFkok ,d fodszrk cktkj esa ek¡x vFkok iwfrZ
dh n’kkvksa dks izHkkfor ugha dj ldrk A
2- oLrq dh le:Ik bdkb;k¡&lHkh
fodszrkvksa }kjk cktkj esa oLrq dh csph tkus okyh bdkbZ;k¡ ,d leku gksrh gSA
3- QeksZ ds izos’k o fu"dklu dh
LorU=rk&iw.kZ izfr;ksfxrk cktkj esa dksbZ Hkh ubZ QeksaZ ds m/kksx esa izos’k dj ldrh gSA
rFkk dksbZ Hkh iqjkuh m/kksx ls ckgj tk ldrh gSA bl izdkj iw.kZ izfr;ksfxrk esa QeksZa
ds m/kksx esa vkus tkus ij dksbZ izfrcU/k ugh gksrkA
4- Cktkj n’kkvksa dk iw.kZ Kku&iw.kZ
izfr;ksfxrk cktkj esa dszrkvksa ,oa fodszrkvksa dks cktkj n’kkvksa dk iw.kZ Kku gksrk gSA
bl izdkj dksbZ Hkh dszrk oLrq dh izpfyr dher ls vf/kd dher nsdj oLrq ugha
[kjhnsxk A ;gh dj.k gS fd cktkj esa oLrq dh ,d leku dher ik;h tkrh gSA
5- Lkk/kuksa dh iw.kZ xfr’khyrk&iw.kZ
izfr;ksfxrk esa mRifÙk ds lk/ku fcuk fdlh O;o/kku ds ,d m/kksx ls nwljs m/kksx esa ¼
vFkok ,d QeZ ls nwljh QeZ esa ½ LFkkukUrfjr fd;s tk ldrs gaSA
6- dksbZ ;krk;kr ykxr ugha &iw.kZ
izfr;ksfxrk esa ;krk;kr ykxr 'kwU; gksrh gSA ftlds dkj.k cktkj esa ,d dher
izpfyr jgrh gSA
183
14. What do you mean by commercial bank? What are the limitations of its
credit
creation?
O;kifjd cSad ls vki D;k leÖkrs gSa \ blds lk[k fuekZ.k dh lhek,W D;k gS \
Ans:- Commercial bank: Commercial banks perform general banking

functions. A
commercial bank is an institution which deals with money credit . It
accepts
deposits from the public, makes the funds available to those who need
them
and helps in remittance of money from one place to another.
Limitation of credit creation: credit creation by commercial banks
has following limitations:
1. Volume of money in the
country- currency is the basis of credit. Higher the currency
money in the economy, greater will be the credit creation by
banks and vice versa .
2. Liquidity preference of Money-
if people want to keep their money in cash with them, bank
deposits will decline and consequently credit creation is
contracted .
3. Banking Habits: Higher the
banking habits among the people, more will be the credit creation,
banking habits leads to more demand for bank loans and
consequently more credit creation will take place.
4. Ratio of cash reserves to
deposits:- Every bank has to maintain a certain ratio of cash
184
reserves to deposit. If this ratio rises, credit creation is contracted

and vice-versa.
5. Interest Rate- Credit creation is
also influenced by rate of interest. At higher interest rate, less
credit creation will take place and vice-versa.
6. Banks deposits with the central
Bank:- Every bank has to keep some deposits against their
liabilities with the central bank. If central bank raises this ration,
credit creation gets squeezed and vice-versa.
7. Credit related policy of Central
Bank:- credit policy of central bank also affects credit creation.
Central Bank can adopt various measure of credit control or
expansion, as required.
O;kikfjd cSad & lkekU; cSafdax dk;Z djus okys cSad dks O;kikfjd cSad dgrs gSaA bu
cSad dk eq[; mn~ns’; O;kikfjd laLFkkuksa dh vYidkyhu foÙkh; vko’;drkvksa dh iwfrZ
djuk gSA O;kikfjd cSad /ku tek djus] _.k nsus ]psdksa dk laxzg.k ,oa Hkwxrku djusa
rFkk ,tsUlh lEcU/kh vusd dke djrs gSA
lk[k fuekZ.k dh lhek,¡& O;kikfjd cSad }kjk fd;s tkus okys lk[k fuekZ.k dh lhek,¡
fuEufyf[kr gSA&
1- ns'k esa eqnzk dh ek=k & pyu eqnzk
lk[k dk vk/kkj gksrh gSA ns’k esa udn eqnzk dh ek=k ftruh vf/kd gksxh cSadksa ds ikl
udn tek,¡ mruh gh vf/kd gksx a h vkSj cSad mruh gh vf/kd ek=k esa lk[k fuekZ.ak dj
ldsxa saA
2- eqnzk dh rjyrk ilUnxh & ;fn
O;fDr vius udnh vf/kd j[krs gS rc cSad esa tek,¡
?kVrh gSa vkSj lk[k fuekZ.k dk vkdkj ?kV tkrk gSA
3- cSafdax vknrsa & turk esa cSafdax
vknrsa ftruh vf/kd gksrh gSA cSadksa dh lk[k fuekZ.k 'kfDr mruh gh vf/kd gksrh gSA
cSad lk[k fuekZ.k vf/kd ek=k esa rHkh dj ldrsa gSaA tc vf/kd cSafdax vknr ds
dkj.k cSadksa ls vf/kd _.k dh ek¡x dh tkrh gSA foijhr n’kk esa lk[k dk fuekZ.k de
gks tk,xk a
4- tekvksa ij udn dks"k vuqikr &
izR;sd cSad dks viuh tek dk ,d fuf’pr Hkkx udn dks"k ds :Ik esa j[kuk iM+rk gSa
185
vr% cSad lk[k dk fuekZ.k de djsaxsa ;k vf/kd] ;g udn dks"k vuqikr ij fuHkZj
djrk gSA ;fn udn dks"k vf/kd gks rks de lk[k dk fuekZ.k gksxk vkSj ;fn udn
dks"k vuqikr de gS rks vf/kd lk[k dk fuekZ.k gksxkA
5- C;kt nj & cSad dh lk[k dh ek=k
izk;% C;kt dh nj ij Hkh fuHkZj djrh gSA ;fn C;kt dh nj Å¡ph gks rks lk[k dh
ek=k de gks tkrh gSA blds foifjr] uhph C;kt nj izk;% lk[k dh ek¡x dks
izksRlkfgr djrh gSA vkSj lk[k LQhfr gks tkus dk Hk; jgrk gSA C;kt dh nj lk[k
fu;a=.k dk ,d egRoiw.kZ lk/ku gSA
6- cSadksa dk dsUnzh; cSad ds ikl tek
& cSadksa dsk dsUnzh; cSad ds ikl vius nkf;Roksa dk dqN Hkkx jf{kr dks"k ds :Ik esa
tek djuk iMrk gSA tc dsUnzh; cSad O;kikfjd cSadsk }kjk j[ks tkus okys dks"kksa esa
o`f) nsrk gSa] rc muds udn lk/ku de gks tkrk gSa vkSj Qyr% os de lk[k fuekZ.k
djrs gSA
7- dsUnzh; cSad dh lk[k lEca/kh uhfr&
lk[k dk fuekZ.k dh ek=k dsUnzh; cSad dh eqnzk ;k lk[k uhfr ij Hkh fuHkZj djrh gSA
dkj.k ;g gS fd ¼d½ dsUnzh; cSad ds ikl ns’k esa eqnzk dh ek=k dks izHkkfor djusa dh
'kfDr gksrh gSA vkSj ¼[k½ og cSadksa dh lk[k ds ladqpu vkSj foLrkj dh 'kfDr dks
izR;{k ;k ijks{k :Ik ls izHkkfor dj ldrk gSA
15. Explain Progressive, proportional and Regressive Tax with examples?

izxfr'khy] vkuqikfrd ,oa izfrxkeh dj dks mnkjg.k lfgr leÖkk;sa &
1. Proportional tax:- taxes in
which the rate of tax remains constant whatever the
size of the tax base may be for example, if the rate of income tax remains
20
percent whatever the size of income is, it will be a proportional tax.

Table 1: Proportional tax
186
Income (Y) Rs. Tax rate % Tax Amount

100 20 20
1000 20 200
10000 20 2000
100000 20 20000
1. Progressive Tax: Taxes in
which the rate of tax increases with the increase in the size of tax
base, are called progressive taxes. In India, income tax is a
progressive tax.
Table 2: progressive tax
Income (Y) Rs. Tax rate (%) Tax Amount (Rs)
1000 20 200
2000 30 600
3000 40 1200
4000 50 2000
Regressive tax: when the rate of tax decreases as the tax base increases the
taxes are called regressive taxes. The burden of such taxes falls more
heavily on the poor than on the rich.
Table 3: Regressive Tax
Income (Y) Rs Tax rate (%) Tax Amount (Rs)

1000 30 300
2000 20 400
3000 14 420
4000 12 480
187
vuqikfrd dj & vkuqikfrd og dj gS ftlesa lHkh vk; Lrjksa ij ,d gh nj ls dj yxk;k

tkrk gS vFkkZr pkgs vk; /kVs ;k c<s ijUrq dj dh nj ,d leku jgrh gSA bl izdkj
vkuqikfrd dj dh nj fu/kZu O;fDr;ksa ,oa /kuh O;fDr;ksa ds fy, ,d leku jgrh gSA
vkuqikfrd djkjksi.k
vk; ¼ Y½ ¼:ñ½ dj nj ¼ izfr’kr esa ½ dj dh ek=k ¼ :ñ ½

100 20 20
1000 20 200
10000 20 2000
100000 20 20000
mi;qZDr rkfydk ls Li’V gS fd fofHkUu vk; Lrjksa ij dj dh nj fuf’pr jgrh gSA bles
vk; esa deh ;k o`f) dk izHkko ugha iM+rkaA
¼2½ izxfr’khy dj & izxfr’khy dj og dj gSA ftldh nj vk; c<us ds LkkFk c<rh tkrh
gSA izxfr’khy dj esa de vk; Lrj ij de nj ls rFkk vf/kd vk; Lrj ij vf/kd nj ls
dj vkjksfir fd;k tkrk gSA
izxfr'khy djkjksi.k
vk; ¼ Y½ ¼izfr’kr esa ½ dj nj ¼ izfr’kr esa ½ dj dh ek=k ¼ :ñ ½
1000 20 200
2000 30 600
3000 40 1200
4000 50 2000
¼3½ izfrxkeh dj & izfrxkeh dj ml dj dks dgrs gS] ftldk Hkkj vehjks dh vis{kk xjhcksa
ij vf/kd iM+rk gS vFkkZr tSls tSls dj ;skX;k vk; c<rh tkrh gS] dj dh nj ?kVrh tkrh
gSA
fUkEu rkfydk ds vadksa ls Li"V gS fd vk; c<us ds lkFk&lkFk dj dh nj esa deh gksrh
pyh xbZ gSA
188
izfrxkeh djkjksi.k
vk; ¼ Y½ ¼izfr’kr esa ½ dj nj ¼ izfr’kr esa ½ dj dh ek=k ¼ :ñ ½
1000 30 300
2000 20 400
3000 14 420
4000 12 480
189
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191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
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7
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MODEL PAPER
d{kk &XII
vFkZ”kkL= (okf.kT;)-Economics(Commerce)
Set – 7
oLrqfu’B iz”u (Objective Type Questions.)
funsZ”k & iz”u la[;k 1 ls 40 rd esa pkj fodYi fn, x, gS] ftuesa ls ,d lgh gS A lgh
fodYi dks pqus ,ao i= esa fpfUgr djsa]

only one is correct. Chose the correct alternative and mark it in the
answersheet.
Q.1. Interest on public debt is part of
(a) Transfer payments by the enterprises (b) Transfer payments by the government
(c) National income (d) Interest payments by households
सावज नक ऋण पर याज एक ह सा है
(a) उ यम वारा थानांतरण भग

ु तान (b) सरकार क ओर से थानांतरण भग
ु तान
(c) रा य आय (d) प रवार वारा याज भग

ु तान
Q.2. Which of the following can be used for checking inflation temporarily?
(a) Increase in wages (b) Decrease in money supply
(c) Decrease in taxes (d) None of these
न न म से कौन सा अ थायी प से मु ा फ त क जाँच के लए इ तेमाल कया जा सकता है ?
(a) मजदरू म व ृ ध (b) पैसे क आपू त म कमी
(c) कर म कमी (d) इनमे से कोई नह ं
Q.3. Operating Surplus arises in the

221
(a) Government Sector (b) Production for self-consumption
(c) Subsistence farming (d) Enterprise Sector
संचालन अ धशेष उठता है
(a) सरकार े (b) आ म-उपभोग के लए उ पादन
(c) उपउ पाद कृ ष (d) उ यम े
Q.4. Bank rate is the rate of interest:
(a) At which public borrows money from Commercial Banks
(b) At which public borrows money from R.B.I.
(c) At which Commercial Banks borrow money from R.B.I.
(d) At which Commercial Banks borrow money from the public
बक दर याज क दर है :
(a) िजस पर सावज नक वा णि यक बक से पैसे उधार लेता है
(b) िजस पर सावज नक R.B.I. से पैसे उधार लेता है
(c) िजस पर वा णि यक बक R.B.I से पैसे उधार लेता है
(d) िजस पर वा णि यक बक जनता से पैसे उधार लेता है
Q.5. A closed economy is one which
(a) Does not trade with other countries
(b) Does not possess any means of international transport
(c) Does not have a coastal line (d) Is not a member of the U.N.O.
एक बंद अथ यव था जो
(a) अ य दे श के साथ यापार नह ं करता
(b) अंतररा य प रवहन के कसी भी साधन के अ धकार नह ं है
(c) एक तट य लाइन नह ं है (d) U.N.O का सद य नह ं है
Q.6. Deficit financing is an instrument of

222
(a) Monetary policy (b) Credit policy
(c) Fiscal policy (d) Tax policy
घाटे क व यव था एक साधन है
(a) मौ क नी त (b) ऋणनी त
(c) राजकोषीय नी त (d) कर नी त
Q.7. The difference between the GNP and the NNP is equal to the
(a) Consumer expenditure on durable goods
(b) Direct tax revenue
(c) Indirect tax revenue (d) Capital depreciation
जीएनपी और एनएनपी के बीच का अंतर बराबर है
(a) टकाऊ व तओ
ु ं पर उपभो ता यय (b) य कर राज व
(c) अ य कर राज व (d) पज

ूं ी मू य ास
Q.8.In a business, raw materials, components, work in progress and finished goods are jointly regarded as
(a) Capital stock (b) Inventory
(c) Investment (d) Net worth
एक यापार, क चे माल, घटक, ग त म काम करने और तैयार माल म संयु त प से माना जाता है
(a) शेयर पज
ूं ी (b) इ वटर
(c) नवेश (d) कुल मू य
Q. 9. Investment is equal to
(a) Gross total of all types of physical capital assets
(b) Gross total of all capital assets minus wear and tear
(c) Stock of plants, machines and equipments
(d) None of these
नवेश बराबर है
223
(a) भौ तक पज
ंू ी संप के सभी कार क सकल कुल
(b) सभी पज
ंू ीगत प रसंप य माइनस वयर एंड Vh;j
(c) लां स, मशीन और उपकरण का जायजा
(d) इनमे से कोई नह ं
Q. 10. The ratio of a bank’s cash holdings to its total deposit liabilities is called
(a) Variable Reserve Ratio (b) Cash Reserve Ratio
(c) Statutory Liquidity Ratio (d) Minimum Reserve Ratio
कुल जमा दे नदा रय के लए एक बक के नकद जोत के अनप

ु ात कहा जाता है
(a) चर आर त अनप
ु ात (b) नकद आर त अनप
ु ात
(c) सां व धक चल न ध अनप

ु ात (d) यन
ू तम आर त अनप
ु ात
Q. 11. Which amidst the following is not a credit rating agency?
(a) CRISIL (b) CARE
(c) ICRA (d) IFCI
न न ल खत के बीच जो एक े डट रे टंग एजसी नह ं है ?
(a) CRISIL (b) CARE
(c) ICRA (d) IFCI
Q. 12. Which unit of valuation is known as “Paper gold”?
(a) Eurodollar (b) Petrodollar
(c) SDR (d) GDR
मू यांकन क जो इकाई “कागज सोने” म जानी जाती है?
(a) Eurodollar (b) Petrodollar
(c) SDR (d) GDR
Q. 13. Which one of the following taxes is collected and utilized by the State Governments?
(a) Personal income tax (b) Corporation tax
(c) Land revenue (d) Custom duties

224
न न ल खत म से कौन सा कर रा य सरकार वारा एक और उपयोग कया जाता है?
(a) यि तगत आयकर (b) नगम कर
(c) भू राज व (d) सीमा शु क
Q.14. When marginal utility is zero, the total utility is
(a) Minimum (b) Increasing
(c) Maximum (d) Decreasing
जब सीमांत उपयो गता शू य है , कुल उपयो गता है
(a) यन
ू तम (b) बढ़ रहा
(c) यादा से यादा (d) घटाना
Q. 15. Equilibrium price means –
(a) Price determined by demand and supply
(b) Price determined by Cost and Profit
(c) Price determined by Cost of production
(d) Price determined to maximize profit/
संतल
ु न क मत –
(a) क मत मांग और आपू त के वारा नधा रत
(b) मू य लागत और लाभ वारा नधा रत
(c) मू य उ पादन क लागत से नधा रत
(d) मू य लाभ को अ धकतम करने के लए नधा रत
Q.16. When aggregate supply exceeds aggregate demand
(a) Unemployment falls (b) Prices rise
(c) Inventories accumulate (d) Unemployment develops
जब कुल आपू त कुल मांग से अ धक है
(a) बेरोजगार फॉ स (b) क मत म व ृ ध

225
(C) माल जमा (c) बेरोजगार वक सत
Q.17. According to Keynesian theory of income determination, at full employment, a fall in aggregate
demand causes
(a) A fall in prices of output and resources
(b) A fall in real gross National product and employment
(c) A rise in real gross National product and investment
(d) A rise in prices of output and resources
इनकम ढ़ संक प के क ने सयन स धांत, पण

ू रोजगार के अनस
ु ार, कुल मांग म गरावट का कारण बनता
है
(a) उ पादन और संसाधन क क मत म गरावट
(b) वा त वक सकल रा य उ पाद और रोजगार म गरावट
(c) वा त वक सकल रा य उ पाद और नवेश म व ृ ध
(d) उ पादन और संसाधन क क मत म व ृ ध
Q.18. Devaluation usually causes the internal prices to:
(a) Fall (b) Rise
(c) Remain unchanged (d) None of the above
अवमू यन आम तौर पर करने के लए आंत रक क मत का कारण बनता है :
(a) गरना (b) व ृ ध
(c) अप रव तत रहना (d) इनमे से कोई भी नह ं
Q.19. A seller or buyer protects his business or holdings from changing prices and takes action against it.
It is known as-
(a) Defence (b) Betting
(c) Inter-trading (d) Mortgage
एक व े ता या खर दार को बदलने क क मत से अपने यवसाय या जोत र ा करता है और इसके

226
खलाफ कारवाई लेता है । इसे यह भी कहा जाता है -
(a) र ा (b) शत
(c) इंटर- यापार (d) बंधक
Q.20. Evaluating all the options to find out most suitable solution to business problems is inter-displinary
activities. It is called
(a) Professional research (b) Management research
(c) Operational research (d) Commercial research
सभी वक प का मू यांकन यावसा यक सम याओं के लए सबसे उपयु त समाधान खोजने के लए
बाहर अंतः वषय ग त व धय है । यह कहा जाता है
(a) पेशव
े र अनस
ु ध
ं ान (b) बंधन अनस
ु ध
ं ान
(c) आपरे शनल रसच (d) वा णि यक अनस

ु ध
ं ान
Q.21. Basic infrastructure facilities in Economics are known as:
(a) Human capital (b) Physical capital
(c) Social overheads capital (d) Working capital
अथशा म मल
ू भत
ू बु नयाद सु वधाओं के प म जाना जाता है –
(a) मानव पज
ूं ी (b) भौ तक पज
ूं ी
(c) सामािजक पज
ूं ी ओवरहे स (d) कायशील पज
ूं ी
Q.22. What are the main components of basic social infrastructure of an economy?
(a) Education, Industry and Agriculture (b) Education, Health and Civil amenities
(c) Transport, Health and Banks (d) Industry, Trade and Transport
एक अथ यव था के बु नयाद सामािजक बु नयाद ढांचे के मु य घटक या ह?
(a) श ा, उ योग और कृ ष (b) श ा, वा य और नाग रक सु वधाओं
(c) प रवहन, वा य और बक (d) उ योग, यापार और प रवहन
Q.23. Which of the following concepts are most closely associated with J.M. Keynes?
227
(a) Control of money supply (b) Marginal utility theory
(c) Indifference curve analysis (d) Marginal efficiency of capital
न न ल खत अवधारणाओं म से कौन सबसे नकट जेएम क स के साथ जुड़े हुए ह?
(a) पैसे क आपू त का नयं ण (b) सीमांत उपयो गता स धांत
(c) उदासीनता व व लेषण (d) पज

ूं ी क सीमांत द ता
Q.24. Which nationalized bank of India has a shining star as its emblem?
(a) Syndicate Bank (b) Indian Bank
(c) Bank of India (d) Bank of Baroda
कौन सा रा यकृत बक ऑफ इं डया अपने तीक के प म एक चमकता सतारा है ?
(a) सं डकेट बक (b) इं डयन बक
(c) बक ऑफ इं डया (d) बक ऑफ बड़ौदा
Q.25. Transfer earning or alternative cost is otherwise known as
(a) Variable cost (b) Implicit cost
(c) Explicit cost (d) Opportunity cost (economic cost)
थानांतरण कमाई या वैकि पक लागत कसके अ यथा के प म जाना जाता है
(a) प रवतनीय लागत (b) न हत लागत
(c) प ट लागत (d) अवसर लागत (आ थक लागत)
Q.26. The main source of long-term credit for a business unit is
(a) sale of stocks and bonds to the public
(b) borrowing from banks
(c) loans from the Government
(d) deposits from the public and financial institutions
एक यापार इकाई के लए लंबी अव ध के ऋण का मु य ोत या है
(a) जनता के लए शेयर और बांड क ब

228
(b) बक से उधार (c) सरकार क ओर से ऋण
(d) सावज नक और व ीय सं थान से जमा
Q.27. State which of the following is correct? The Consumer Price Index reflects :
(a) the standard of living (b) the extent of inflation in the prices of consumer goods
(c) the increasing per capita income (d) the growth of the economy
इन रा यो म न न म से कोन सा सह है ? जो उपभो ता मू य सच
ू कांक को दशाता है :
(a) जीवन तर (b) उपभो ता व तओ

ु ं क क मत म मु ा फ त क हद
(c) बढ़ती त यि त आय (d) अथ यव था क व ृ ध
Q.28. What is “narrow money” ?
(a) The sum of currency in circulation and the demand deposits in banks
(b) The sum of M, money and the time deposits
(c) The sum of currency in circulation with the public and the cash reserves held by banks
(d) The market value of the stocks held by all the holders excluding the promoters
“संक ण पैस”े या है ?
(a) संचलन म मु ा क रा श और बक म जमा रा श क मांग
(b) एम, पैसे और समय जमा क रा श
(c) बक वारा आयोिजत सावज नक और नकद भंडार के साथ संचलन म मु ा का योग
(d) मोटर को छोड़कर सभी धारक वारा
Q.29. Entrepreneurial ability is a special kind of labour that
(a) is hired out to firms at high wages
(b) organizes the process of production
(c) produces new capital goods to earn interest innovation
(d) manages to avoid losses by continual
उ यमशीलता क मता म क एक वशेषता कस कार है

229
(a) उ च मजदरू पर कंप नय के लए बाहर काम पर रखा है
(b) उ पादन क या का आयोजन
(c) याज नवाचार कमाने के लए नए पज

ूं ीगत व तओ
ु ं का उ पादन
(d) न य वारा घाटे से बचने के लए बंधन
Q.30. Equilibrium is a condition that can
(a) never change (b) change only if some outside factor changes
(c) change only if some internal factor changes (d) change only if government policies change
संतल
ु न एक शत है जो है
(a) कभी न बदलो
(b) केवल कुछ बाहर कारक प रवतन बदलने के कारण करता है, तो
(c) केवल कुछ आंत रक कारक प रवतन करता है , तो बदलता है
(d) अगर सरकार क नी तय बदल, तो बदलता है
Q.31. Devaluation of money means :
(a) decrease in the internal value of money
(b) decrease in the external value of money
(c) decrease in both internal and external value of money
(d) the government takes back currency notes of any denominations
पैसे के अवमू यन का अथ है :
(a) पैसे क आंत रक मू य म कमी
(b) पैसे क बा य मू य म कमी
(c) पैसे क आंत रक और बा य दोन मू य म कमी
(d) सरकार कसी भी मू यवग के नोट को वापस लेता है
Q.32. Government securities are considered liquid because they are
(a) backed by the Government treasury

230
(b) convertible into other types of saving deposits
(c) quickly and easily marketable
(d) stable in value
सरकार तभू तय को तरल माना जाता है यो क वे
(a) सरकार खजाने के वारा सम थत
(b) बचत जमा के अ य कार म प रवतनीय
(c) ज द और आसानी से व े य
(d) मू य म ि थर
Q.33. The method of calculating the national income by the product method is otherwise known as :
(a) Income method (b) Value added method
(c) Expenditure method (d) Net output method
उ पाद व ध वारा रा य आय क गणना क व ध को कस प म जाना जाता है :
(a) आय व ध (b) मू य संव धत व ध
(c) यय व ध (d) नेट उ पादन व ध
Q.34. What is “book-building” ?
(a) Preparing the income and expenditure ledgers of a company (book-keeping)
(b) Manipulating the profit and loss statements of a company
(c) A process of inviting subscriptions to a public offer of securities, essentially through a tendering
process
(d) Publishers’ activity
“बक
ु बि डंग” या है ?
(a) एक कंपनी (बक

ु क पंग) क आय और यय खात तैयार
(b) एक कंपनी के लाभ और हा न व त य को चालाक
(c) तभू तय के एक सावज नक पेशकश के लए सद यता के लए आमं त, अ नवाय प से एक

231
न वदा या के मा यम से क एक या
(d) काशक ग त व ध
Q.35. The incidence of sales tax falls on
(a) Consumers (b) Wholesale dealers
(c) Retail dealers (d) Producers
ब कर कन घटनाओं पर गर जाता है
(a) उपभो ताओं (b) थोक डीलर
(c) खुदरा डीलर (d) उ पादक
Q.36. An economy is in equilibrium when
(a) planned consumption exceeds planned saving
(b) planned consumption exceeds planned investment
(c) intended investment equals intended investment
(d) intended investment exceeds intended savings
एक अथ यव था संतल
ु न कब होती है
(a) योजना बनाई खपत सु नयोिजत बचत से अ धक
(b) योजना बनाई खपत से अ धक नवेश क योजना बनाई
(c) इरादा नवेश इरादा नवेश के बराबर होती है
(d) इरादा नवेश का इरादा बचत से अ धक
Q.37. Which of the following groups suffer the most from inflation?
(a) Debtors (b) Creditors
(c) Business class (d) Holders of real assets
न न ल खत समह
ू म से जो मु ा फ त से सबसे यादा पी ड़त ह?
(a) दे नदार (b) लेनदार
(c) बजनेस लास (d) वा त वक संप धारक

232
Q.38. The existence of a Parallel Economy or Black Money
(a) makes the economy more competitive
(b) makes the monetary policies less effective
(c) ensures a better distribution of income and wealth
(d) ensures increasing productive investment
एक समानांतर अथ यव था या काले धन का अि त व या करता है
(a) अथ यव था को और अ धक त पध बनाता है
(b) मौ क नी तय म कम भावी बनाता है
(c) आय और धन का एक बेहतर वतरण सु नि चत करता है
(d) उ पादक नवेश म व ृ ध सु नि चत करता है
Q.39. In equilibrium, a perfectly competitive firm will equate
(a) marginal social cost with marginal social benefit
(b) market supply with market demand
(c) marginal profit with marginal cost
(d) marginal revenue with marginal cost
संतल
ु न म, एक परू तरह से त पध फम समक कब होगी
(a) सीमांत सामािजक लाभ के साथ सीमांत सामािजक लागत
(b) बाजार क मांग के साथ बाजार म आपू त
(c) सीमांत लागत के साथ सीमांत लाभ
(d) सीमांत लागत के साथ सीमांत राज व
Q.40. If the price of an inferior good falls, its demand
(a) rises (b) falls
(c) remains constant (d) None of the above
अगर एक तु छ व तु क क मत गरती है , तब इसक मांग

233
(a) बढ़ना (b) फॉ स
(c) ि थर रहता है (d) इनमे से कोई भी नह ं

234
MODEL PAPER
Set – 7
Answers :-
1 (b) , 2 (b) , 3 (a) , 4 (c) , 5 (a) , 6 (c) , 7 (d) , 8 (b) , 9 (b) , 10 (b) , 11 (d) , 12 (c) , 13 (c) , 14 (c)
, 15 (a) , 16 (c) , 17 (a) , 18 (c) , 19 (a) , 20 (c) , 21 (c) , 22 (b) , 23 (d) , 24 (c) , 25 (d) , 26 (a) , 27
(b) , 28 (a) , 29 (b) , 30 (c) , 31 (b) , 32 (c) , 33 (d) , 34 (c) , 35 (a) , 36 (c) , 37 (b) , 38 (b) , 39 (d) ,
40 (a) .
235
MODEL PAPER
d{kk &XII
Set – 7
y?kq&mÙkjh; iz”u (Short-Answer type questions)
funsZ”k & iz”u la[;k 1 ls 10 rd Yk/kq mÙkjh; iz”u gS rFkk izR;sd ds fy, 3 vad
fuZ/kkfjr gSA
Instruction :- For questions 1 to 10 are short answer type and each

question carries
3 marks.
Q.1 Distinguish between Giffin Goods and Normal Goods?
fxfQu oLrq ,oa lkekU; oLrq ds chp varj crkb, \
Q.2. Distinguish between Complementary goods and Substitutes.

?
Ikwjd vkSj izfrLFkkukiUu oLrqvksa esa Hksn Li’V dhft, \
Q.3. What is Monotonic Preference?

,dfn’V vf/keku D;k gS \
Q.4. AFC Curve is Rectangular Hyperbola. Why ?

vkSlr fLFkj ykxr odz vfrijoy;kdkj gksrk gSa D;ksa \
Q.5. Explain the main reasons of appearance of monopoly. ?

236
,dkf/kdkjh mRiUu gksus ds izeq[k dkj.k crkb, \
Q.6. Give definition of macro economics. ?

lef’V vFkZ”kkL= dh ifjHkk’kk,¡ nhft, \
Q.7. Explain the primary functions of money. ?

eqnzk ds izkFkfed dk;Z crkb,A
Q.8. If additional investment is Rs 100 crore and MPC= , how
much additional income will be generated in the economy ?
;fn vfrfjDr fuos”k :ñ 100 djksM+ rFkk MPC= gks rks vFkZO;oLFkk esa
fdruh vfrfjDr vk; dk l`tu gksxk \

Q.9. Differentiate between devaluation and depreciation.?
voeqY;u rFkk ewY; gkzl esa varj Li’V dhft, \
Q.10. What are Different types of supply elasticity. ?
iwfrZ yksp fdrus izdkj dh gksrh gS \

Long Answer Type Questions.
nh?kZ mÙkjh; iz”uA
funsZ”k & iz”u la[;k 11 ls 15 rd nh?kZ mÙkjh; iz”u gS rFkk izR;sd ds fy, 6
vad
fuZ/kkfjr gSA
Instruction :- For questions 11 to 15 are long answer type and each

question carries 6 marks.
237
Q.11. Explain the meaning of marginal rate of substitution.?

izfrLFkkiu dh lhekUr nj dk vFkZ le>kb, \
Q.12. What is Monopoly ? Explain its features.

,dkf/kdkj D;k gS \ bldh izeq[k fo”ks’krk,¡ crkb,A
Q.13. Explain the managed floating exchange rate system.
izcfU/kr rSjrh fofue; nj iz.kkyh Li’V dhft, \
Q. 14. How is interest rate determined. ?

C;kt nj dSls fu/kkZfjr gksrh gSA
Q.15. Income equilibrium level in Keynesian viewpoint
represent under full employment situation. Explain.

dhfUl;u fopkj esa vk; lUrqyu viw.kZ jkstxkj Lrj dks lwfpr djrk gSA
Li’V dhft,
238
MODEL PAPER
d{kk &XII
Set – 7
y?kq&mÙkjh; iz”u (Short-Answer type questions)
funsZ”k & iz”u la[;k 1 ls 10 rd Yk/kq mÙkjh; iz”u gS rFkk izR;sd ds fy, 3 vad
fuZ/kkfjr gS A
Instruction :- For questions 1 to 10 are short answer type and each
Q.1. Distinguish between Giffin goods and Normal Goods.
fxfQu oLRkq ,oa lkekU; oLrq ds chp varj crkb,A
Ans:- Distinction between ‘Normal Goods’ and ‘Giffin
Goods’:-
1. Law of demand is applicable in case of Normal Goods and
incapable in case of Giffin Goods.
2. Demand curve in case of normal goods is negatively sloped
from left to right and positively sloped in case of Giffen
Goods and rises from left to right.
3. Income effect of normal goods is positive i.e. increase in
income increases demand of normal goods and income
effect in case of Giffin Goods is negative i.e. increases in
income decreases demand of Giffin Goods.
239
lkekU; oLrq RkFkk fxfQu oLrq esa eq[; varj fuEufyf[kr gS%&
1- lkekU; OkLrq og oLrq gS ftl ij ek¡x dk fu;e ykxq gksrk gS vFkkZr dher
c<+us ij ek¡x de gksrh gS rFkk dher de gksus ij ek¡x c<+rh gSA blds
foijhr fxfQu oLrq og ?kfV;k oLrq gS ftl ij ek¡x dk fu;e ykxq ugha
gksrk vFkkZr~ dher de gksus ij ek¡x de gksrh gS rFkk dher c<+us ij ek¡x
c<+rh gSA
2- lkekU; oLrq dh ek¡x oØ dk <+yku Åij ls uhps ckbZa ls nkbZa vksj gksrk gS
vFkkZr~ oLrq dh dher rFkk ek¡xh xbZ ek=k esa foijhr lac/a k gksrk gSA blds
foijhr fxfQu oLrq dh ek¡x dk <yku uhps ls Åij dh vksj gksrk gS vFkkZr~
oLrq dh dher rFkk ek¡xh xbZ ek=k esa izR;{k lEcU/k gksrk gSA
3- lkekU; oLrq dk vk; izHkko /kukRed gksrk gS vFkkZr~ vk; c<+us ij oLrq dh
ek¡x c<+rh gSA blds foijhr fxfQu oLrq dk vk; izHkko _.kkRed gksrk gS
vFkkZr~ vk; c<+us ij oLrq dh ek¡x de gksrh gSA
Q.2. Distinguish between complementary goods and substitutes.
Ikqjd vkSj izfrLFkkukiUu oLrqvksa esa Hksn Li’V dhft,A
Ans:- 1. Substitutes- Substitutes are such products which have
the capacity to satisfy the same needs, i.e., they can be
used for the same purpose in place of each other e.g.,
Tea-coffee. In this case, when price of one goods increases,
other things being equal, demand of substitutes also
increases e.g., price of coffee increases, then demand of
tea also increases.
2. Complementary Goods- Those goods are used together for
satisfying a particular want e.g, scooter-petrol. If price of
scooter increases, then demand of its complementary
goods is affected although price of petrol remains
240
unchanged. In this way, inverse relation exists between

price and quantity demanded of complementary goods.
 LFkkukiUu oLrq,¡& LFkkukiUu oLrq,¡ os lEcfU/kr oLrq,¡ gSa tks ,d& nqljs ds
cnys ,d gh m)s”; ds fy, iz;ksx dh tk ldrh gSaA
mnkgj.k ds fy,]pk;]dkWQhA LFkkukiUu oLrqvks esa ls ,d oLrq dh ekWx rFkk
nwljh oLrq dh dher esa /kukRed lEcU/k gksrk gS vFkkZr~ ,d oLrq dh dher
c<+us ij mldh LFkkukIkUu oLrq dh ek¡x c<+rh gS rFkk dher de gksus ij
ek¡x de gksrh gSA
iwjd oLrq,¡&iwjd oLrq,¡ os oLrq,¡ gS tks fdlh vko”;drk dks la;qDr :Ik
ls lUrq’V djrh gSa tSls & isu vkSj L;kghA vU; “kCnksa es]a iwjd oLrq,¡ ,slh
oLrq,¡ gSa ftuesa ,d oLrq dh ek¡x rFkk nwljh oLrq dh dher esa _.kkRed
lEcU/k gksrk gS vFkkZr~ ,d oLrq dh dher c<us ij mldh iwjd oLrq dh
ek¡x de gks tk;sxh rFkk dher de gksus ij iwjd oLrq dh ek¡x c<+
tk;sxhA
Q.3. What is Monotonic Preference ?

,dfn’V vf/keku D;k gS \
Ans:- A Consumer’s preferences are monotonic if and only
if between any two bundles, the consumer prefers the
bundle which has more of at least one of the goods and no
less of the other goods as compared to other bundle.

241
Example: A consumer with monotonic preference

will prefer the bundle (2,3) to bundles (2,2),(1,3) and (1,2)
bundles.
,d miHksDrk nks oLrqvksa ds fofHkUu la;ksxksa esa ls ml la;ksx dks vf/keku
nsrk gSA fatles bu nksuks oLrqvksa esa ls de ls de ,d oLrq dh ek=k
vf/kd gks] tcfd nwljh oLrq dh ek=k de u gksA ,slh fLFkfr ,dfn’V
vf/keku dks crkrh gSA
mnkgj.k & ,dfn’V vf/keku dh n”kk esa miHkskDrk nks c.Myksa ¼ 9]8½ rFkk
¼8]6½ ds chp mnklhu ugh gks] ldrk D;ksfd ¼9]8½ ds c.My esa nwljs dh
rqyuk esa nksuksa oLrqvksa dh ek=k vf/kd gSA
Q.4. AFC Curve is Rectangular Hyperbola. Why ?
vkSlr fLFkj ykxr ¼ AFC ½ odz vfrijoy;kdkj gksrs gSaA D;ksa \
Ans:- Average fixed cost – If we divide total fixed cost (TFC)
by quantity of production, we obtain Average fixed
cost (AFC).
AFC=
Where q = quantity of production
Average fixed cost declines with every increase in production

level because TFC is constant. Fig. Shows average fixed cost
242
Average Fixed cost

Y
10
9
8
Price
7 Rectangular Hyperbola
6
5
4
3
AFC
O 1 2 3 4 5 6 7 8 X
Quantity (Units)
AFC curve is rectangular hyperbola because total fixed

cost (TFC) remains constant at all points of AFC, i.e. the
multiplication between AFC and production quantity at all
points of AFC remains constant. It is the reason why AFC
declines when production quantity increase. The elasticity at
all points of rectangular hyperbola curve remains unitary.
vkSlr fLFkj ykxr ¼ AFC ½&;fn mRiknu dh dqy fLFkj ykxr ¼ TFC½
dks ge mRiknu dh ek=k ls Hkkx ns ns arks gesa vkSlr fLFkj ykxr ¼AFC½
izkIr gks tkrh gSA
AFC
tgk¡ q mRiknu dh ek=k gSA

vkSlr fLFkj ykxr mRiknu ds c<us ij ?kVrh gSA D;ksafd TFC fLFkj
jgrh gS ftlds dkj.k mRiknu AFC vk;rkdkj vfijoy; gksrk gSA
243
Average Fixed cost

Y
10
9
Price 8
7 Rectangular Hyperbola
6
5
4
3
AFC
O 1 2 3 4 5 6 7 8 X
Quantity (Units)
D;kafs d blds izR;sd fcUnq ij dqy TFC fLFkj cuh jgrh gSA vFkkZr
AFC odz ds izR;sd fcUnq ij vkSlr fLFkj ykxr vkSj mRiknu ek=k
dk xq.kuQy fLFkj vFkkZr ,d leku cuk jgrk gSA ;gh dkj.k gS fd mRiknu
ek=k c<us ij vkSlr fLFkj ykxr ?kVrh gSA vfrijoy;kdkj odz ds izR;sd
fcUnq ij yksp lnSo bZdkbZ gksrh gSA
Q.5. Explain the main reasons of appearance of monopoly.

,dkf/kdkj mRiUu gksus ds izeq[k dkj.k crkb,A
Ans:- A few important reasons of emerging monopoly are
as follows.
1. Centralization of Raw material:- When the raw material

of the production of a particular commodity is centralised
at a particular place, monopoly situation emerges. For
244
example, Bengal was having monopoly of Jute industry

before the partition of the country.
2. Legal Monopoly:- Some monopoly is established
through the law. For example, when the government
provides monopoly power of water distribution in a
particular city to a particular industry, it gives birth to
legal monopoly.
3. Cut throat competition:- When firm make cartels for
saving them from cutthroat competition and controlling
the supply of the commodity, monopoly emerges.
4. Patent rights:- Patent rights also create monopoly
situation. Producers obtain patent right or trademark
monopoly regarding the shape, design or other
characteristics of the product. Patent right prohibit the
use of trademark by others.
,dkf/kdkj dh mRifÙk ds izeq[k dkj.k fuEuor~ gSa&
1- dPps ekyksa dk dsUnzhdj.k & fdlh /kkrq ds fuekZ.k ds fy, tc lEiw.kZ
dPpk eky fdlh O;fDr ds {ks= esa vk tkrk gS rks ,df/kdkj dk tUe gksrk
gSa mnkgj.k ds fy,] ns”k esa foHkktu ds iwoZ caxky dks twV ds m|ksx dk
,dkf/kdkj izkIr FkkA
2- dkuwuh ,dkf/kdkj & dHkh dHkh dkuwu }kjk Hkh ,dkf/kdkj LFkkfir fd;k
tkrk gSa tSls & tc ljdkj fdlh dEiuh dks “kgj esaw ikuh ;k fctyh dh
O;oLFkk dk ,dkf/kdkj ns nsrh gS rks mls dkuwuh ,dkf/kdkj dgrs gSaA
3- xyk?kskaV izfr;ksfxrk & tc xyk ?kksaV izfr;ksfxrk ls cpus ds fy, ,oa QesaZ
oLrq dh iwfrZ fu;af=r djus ds fy, vkil esa feydj la?kksa dk fuekZ.k djrh
gS rks ,dkf/kdkj dh mRifÙk gksrh gSA
4- iSVs.V vf/kdkj & iSVs.V vf/kdkjksa ds feyus ls Hkh ,dkf/kdkj mriUUu gks
tkrk gSA dqN mRiknudrkZ dkuwu }kjk viuk [kkl iSVs.V jkbV vFkok VªsM
ekdZ dk ,dkf/kdkj izkIr djrs gSaA vUu mRikndksa }kjk og VªsM ekdZ iz;ksx
ugh fd;k tk ldrk gSA
245
Q.6. Give definition of macro economics.

lef’V vFkZ”kkL= dh ifjHkk’kk nhft, \
Ans:- According to K.E.Boulding, “Macro economics deals

not with individual quantities as such put with the
aggregates
of these quantities, not with individual incomes but with
the national income; not with individual output but with
the national output.”
According to Schultz, “The main tool of macro
economics is national income analysis.”
According to M.H.Spencer, “Macro economics is
concerned with the economy as a whole or large segments of
it. In macro economics, attention is focused on such problem
as the level of unemployment, the rate of inflation, the
nation’s total output and other matters of economy wide
significance.
Lkef’V vFkZ”kkL= dh izeq[k fo”ks’krk,¡ vxz gSa&

1- izkñs cksfYMax ds vuqlkj] Þ O;kid vFkZ”kkL= O;fDrxr ek=kvksa dk v/;;u
ugha djrk ]cfYd bu ek=kvksa ds lewg dk v/;;u djrk gSa] O;fDrxr vk;ksa
dk ugha ] vfirq jk’Vªh; vk; dk] O;fDrxr dherksa dk ugha cfYd lkekU;
dher ] Lrj dk ] O;fDrxr mRiknu dk ugha cfYd jk’Vªh; mRiknu dkAÞ
246
2- izkñs LDyt ds vuqlkj Þ O;kid vFkZ”kkL= dk eq[; ;U= jk’Vªh; vk;

fo”ys’k.k gSAÞ
,eñ ,pñ LisUlj ds vuqlkj ] Þ lef’V vFkZ”kkL= dk lEcU/k leLr
vFkZO;oLFkk vFkok mlds cMs&cMs fgLlksa ls gSA blds varxZr ,slh
leL;kvksa dk v/;;u fd;k tkrk gSa tSls & csjkstxkjh dk Lrj ] eqnzkLQhfr
dh nj] jk’Vª dk dqy mRiknu vkfn ]ftudk laiw.kZ vFkZO;oLFkk ds fy,
egRo gksrk gSAÞ
Q.7. Explain the primary functions of money.?
eqnzk ds izkFkfed dk;Z crkb,A
Ans:-Primary functions of money are also called main functions.
These functions are of prime importance and common to all
countries during all the periods. Money has two prime

functions.
1. Medium of Exchange- Money act as a medium of exchange.

In modern days, exchange is the basis of entire economy
and money makes this exchange possible. At present,
money is the most liquid means of exchange. In old age,
barter system was in practices in which goods were
exchanged for goods but due to lack of double coincidence,
exchange was difficult. But the use of money has removed
this difficulty. In modern times, money performs all
functions of exchange in the money.
2. Measure of the value:- Money acts a units of measure of
value to other words, it acts as a yardstick of standard
measure of value to which all other things can be measured.
In barter system. The general measurement of value was
247
absent and consequently it was difficult to measure the

value of exchange. In modern times, the value of every
commodity can be measured in money. With the use of
money, economic calculations for measuring value have
become simplified.
eqnzk ds izkFkfed dk;Z dks eq[; dk;Z Hkh dgk tkrk gSA bu dk;kZsa ds vUrxZr
eqnzk ds bu dk;ksaZ dks lfEefyr fd;k tkrk gSA tks eqnzk }kjk izR;sd ns”k esa
lEikfnr fd;s tkrs gSa blh fy, eqnzk ds bu dk;kZs dks ekSfyd ;k vko”;d
dk;Z Hkh dgk gSA eqnzk ds nks izkFkfed dk;Z gSA
1- fofue; dk ek/;e & eqnzk fofue; ds ek/;e :i esa dk;Z djrh gSA
vk/kqfud vFkZO;oLFkk dk vk/kkj fofue; gh gSA vkSj fofue; dk dk;Z eqnzk
}kjk gh fd;k tkrk gSa oÙkZeku esa eqnzk lcls vf/kd rjy lk/ku gSa izkphu
lekt esa oLrq fofue; i)fr dk izpyu Fkk A bl i)fr esa izR;{k :Ik ls
oLrqvksa dk vknku iznku fd;k tkrk Fkk ] fdUrq bl i)fr esa nksgjs la;ksx
dk vHkko gksus ds dkj.k fofue; dk;Z esa cgqr vf/kd dfBukbZ gksrh Fkh A
eqnzk ds vkfo’dkj us oLrq fofue; iz.kkyh dh bl dfBukbZ dks nwj fd;k gSA
oÙkeku esa fofue; dk lEiw.kZ dk;Z eqnzk ds ek/;e ls fd;k tkrk gSA
2- ewY; dk ekid & eqnzk ewY; ekiu dh bZdkbZ dk dk;Z djrh gSA nwljs “kCnksa
esa dgk tk ldrk gS fd eqnzk {kjk ewY; dks ekik tk ldrk gSA oLrq
fofue; esa ewY; dk dksbZ lkFkZd ekin.M ugha FkkA ifj.kke Lo:Ik fofue;
dk ewY; fuf”pr djus esa cgqr vf/kd dfBukbZ vkrh Fkh A oÙkZeku esa izR;sd
oLrq dk ewY; eqnzk esa ekik tk ldrk gSA ewY; dks ekius ds fy, eqnzk dk
iz;ksx djus ls vkfFkZd x.kuk dk dk;Z cgqr vf/kd ljy gks x;k gSA
Q.8. If additional investment is Rs 100 crore and MPC= , how
much additional income will be generated in the economy ?

;fn vfrfjDr fuos”k :ñ100 djksM+ rFkk MPC= gks rks vFkZO;oLFkk esa
fdruh vfrfjDr vk; dk l`tu gksxk A

248
Ans:-
=2
= Rs 200 crores
Q.9. Differentiate between devaluation and depreciation.
voewY;u rFkk ewY; gªkl es vUrj Li’V dhft, \
Ans:- Deprecation of a currency means a decrease in the price of
the domestic currency in terms of the foreign currency.
Depreciation of a currency takes place due to working
of demand and supply forces in foreign exchange market.
Devaluation also signifies a loss of value of the currency of
a country relative to other foreign currency but it in a

process
in which government deliberately cheapen its own currency
in terms of other currency.

voewY;u& ljdkj }kjk jk’Vªh; eqnzk dk fofue; ewY; tku cw>dj de
249
dj nsuk ewnzk dk voewY;u dgykrk gS vFkkZr tc fdlh ns”k dh ljdkj

nwljs ns”k dh ewnzk dh rwyuk esa jk’Vªh; eqnzk dk fofue; tku cw>dj de
dj nsrh gS rks bls ewnzk kd voewY;u dgrs gSA voewY;u esa ns”k dh oLrq,¡
fonsf”k;ksa ds fy, lLrh gks tkrh gS vkSj fons”kh oLrq,¡ ns”kokfl;ksa ds fy,
eg¡xh gks tkrh gSA
ewY; gªkl & ewY; gªkl ls vfHkizk; gS eqnzk dk lkis{k ewY; ?kV tkuk vFkkZr
nwljs ns”k dh eqnzk esa ?kjsyw eqnzk ds ewY; esa dHkh vkus ls gSA ekuk fd
1 MkWyj = :50A eku yhft, dqN le; Ik”pkr 1 MkWyj dk ewY; c<dj
:ñ 52 gks tkrk gSA bldk vk”k; ;g gqvk fd vc vko”;drk iMsx
+ hA
nwljs “kCnksa esa MkWyj ds eqdkcys esa :Ik;s dh dher de gks xbZ A
Q.10. What are different types of supply elasticity ?

iwfrZ yksp fdrus izdkj dh gksrh gS \
Ans:- Kinds of Elasticity of supply – The kinds of elasticity
of supply can be divided into five categories.
I. Perfectly Elastic supply ( )

II. Greater than unit Elastic supply (
III. Unitary Elastic supply (
IV. Less than unitary elastic supply (Inelastic supply)(
V.Perfectly Inelastic supply (

250
iwfrZ yksp ds izdkj & iwfrZ yksp dh Js.kh;ksa dks ik¡p Hkkxksa esa ck¡Vk tk ldrk gSA
I. 1- iw.kZr;k ykspnkj iwfrZ csykspnkj iwfrZ ( )
2- bdkbZ ls vf/kd ykspnkj iwfrZ (
3- bdkb ykspnkj iwfrZ(
4- bdkbZ ls de ykspnkj iwfrZ vFkok csykspnkj iwfrZ (
5- iw.kZr;k csykspnkj iwfrZ(
251
Long Answer Type Question.

nh?kZ mÙkjh; iz”u
funsZ”k & iz”u la[;k 11 ls 15 rd nh?kZ mÙkjh; iz”u gS rFkk izR;sd ds fy, 6 vad
fuZ/kkfjr gS A

question
carries 6 marks.
Q.11. Explain the meaning of marginal rate of substitution.
izfrLFkkiu dh lhekUr nj dk vFkZ le>kb,A
Ans:- The slope of indifference curve shows Marginal rate
of substitution. Marginal rate of substitution refers to the
rate at which he commodities can be substituted with
each other, so that total satisfaction of the consumer
remains the same.
For maintaining the equal level of satisfaction on the
various combinations in an indifference curve, consumer has to
reduce the quantity of other goods. For getting one additional
unit of a goods, the quantity of other goods left is called the
marginal rate of substitution.
Table : MRS Table
Combinations goods X goods Y MRSxy (
A 1 20 -
B 2 15 5:1
252
C 3 11 4:1
D 4 8 3:1
E 5 6 2:1
F 6 5 1:1
In above table each combination give equal satisfaction, the

MRSxy is diminishing.
The Marginal rate of substitution shows the slope of
indifference curve.
In give fig.
MRSxy =
Or
MRSxy=
For an indifference curve MRS is always negative.

Y
Y1 A
-
Goods Y
Y2
B
P
1C
O X
X1 X2
Goods X
253
mnklhurk odz ds vUrxZr miHkksDrk fofHkUu la;ksxksa es ,d leku lUrqf’V

Lrj cuk;s j[kus ds fy, tc ,d oLrq dh bdkbZ;ksa dk mÙkjksRrj c<krk
tkrk gSA rks ,ls nwljh oLrq dh bdkbZ;ksa dk ifjR;kx djuk iM+rk gSa fdlh
oLrq dh ,d bdkbZ izkIr djus ds fy, miHkksdrk nwljh oLrq dh ftruh
bdkbZ;ksa dks NksMrk gS ] mls lhekUr izfrLFkkiu nj dgk tkrk gSA
rkfydk lhekUr izfrLFkkiu nj lkj.kh
la;ksx oLrq X oLrq y X dh y ds fy,
lhekUr izfrLFkkiu
nj
A 1 20 &
B 2 15 5%1
C 3 11 4%1
4 8 3%1
D
5 6 2%1
E
6 5 1%1
F
nwljs “kCnks esa ]lUrqf’V ds leku Lrj dks cuk;s j[kus ds fy, oLrq Y dh
og ek=k ]tks viHkskDrk oLrq X dh ,d vfrfjDr bdkbZ izkIr djus ds
fy,] R;kxus dks rRij jgrk gS] X dh Y ds fy, lhekUr izfrLFkkiu nj

254
dgyk;sxh mi;qZDr rkfydk esa izR;sd la;ksx miHkksDrk dks leku lUrqf’V
iznku djrk gSA oLrq X izfr bdkbZ o`f) ds fy, miHkskDrk Ydh vis{kkd`r
de bdkbZ;k¡ R;kxus dks rS;kj gksrk gSA NBs la;ksx esa lhekUr izfrLFkkiu nj
?kVkdj 1%1 jg tkrh gSA izFke la;ksx ls NBs la;ksx rd Li’V gS fd X dh
Y ds fy, lhekUr izfrLFkkiu nj ?kV jgh gSA bls gªkleku lhekUr izfrLFkkiu
vj dgk tkrk gSA lhekUr izfLFkkiu nj rVLFkrk odz js[kk ds <ky dks crkrh
gSA
Y1 A
-
Goods Y
Y2
B
P
1C
O X
X1 X2
Goods X
MRSxy lnSo _.kkRed gksrh gSA nwljs “kkCnksa esa] tc miHkksDrk mnklhurk
odz ij ck,¡ ls nk,¡ uhps dh vksj pyrk gS] rc lhekUr izfrLFkkiu nj ?kVrh
gqbZ gksrh gSA blh ?kVrh lhekUr izfrLFkkiu nj ds dkj.k miHkksDrk dk
mnklhurk odz ewy fcUnq dh vkSj mUurksnj gksrk gSA
Q.12. What is monopoly? Explain its features. ?

,dkf/kdkj D;k gS \ bldh izeq[k fo”ks’krk,¡ crkb,&
255
Ans:- Monopoly is the addition to two words, i.e. ‘Mono’ +

‘Poly’,
i.e. single seller in the market. Being the single seller in on
the supply of the commodity. Inpure monopoly even no

close
substitute of In product is available in the market. In

monopoly,
no distinction arises between ‘firm’ and ‘industry’ i.e. firm is
industry and industry is firm.
Definitions:-
1. According to Mc councell, “Pure monopoly exists when a

single firm is the sole producer of a product for which there
are no close substitutes
Features of Monopoly: The main features of monopoly are as
follows:-
1. Single seller and large Number of buyers: Monopoly
market consists single seller of the product but the number
of buyers stands very large. No buyer can influence the
price of the product due to his large number in the market.
2. No close substitutes: Monopoly firm produces such
commodity which has no close substitute and as a result
the cross elasticity of demand becomes zero.
3. Monopolist as a price- maker: Being the single seller in the
market. The monopolist firm in itself a price- maker A
256
monopolist firm can determine both price and quantity but

not simultaneously (i.e either price or quantity at a
particular time.)
4. No Entry of new firm : The entry of new firm into the
industry is strictly prohibited. There is no competitor of
monopoly firm in the market.
5. Demand curve Negatively sloped : Monopolist demand
curve in negatively sloped and marginal revenue (MR) is
lesion than average revenue (AR). The slope of demand
curve depends on elasticity of demand.
,dkf/kdkj nks “kCnksa ls feydj cuk gSA ,d $ vf/kdkj vFkkZr cktkj dh

og
fLFkfr tc cktkj esa oLrq dk dsoy ,dek= fodzrs k gks A ,dkf/kdkj cktkj
n”kk esas oLrq dk ,d vdsyk fodzsrk gksus ds dkj.k fodzsrk dk oLrq dh iwfrZ
ij
iw.kZ fu;a=.k jgrk gSA fo”kq) ,dkf/kdkj esa oLrq dk fudV LFkkukiUu HkhM+
miyC/k ugha gksrk A
,dkf/kdkj cktkj esa oLrq dk ,d gh mRiknd gksus ds dkj.k QeZ
rFkk m|ksx
esa dksbZ vUrj ugha gksrk vFkkZr ,dkf/kdkj es m|ksx gh QeZ gS vFkok QeZ
gh
m|ksx gSA
ifjHkk’kk,¡
257
1- izkñs eSDdkWuy ds vuqlkj ^^”kq) ,dkf/kdkjh dh fLFkfr ml le; gksrh

gS tc ,d
vdsyh QeZ ,d oLrq dk ,dek= mRiknd gskrh gS ftldk dksbZ
LFkkukiUu ugha
gksrkA ,dkf/kdkj dh fo”ks’krk,¡ cktkj esa vxzfyf[kr fo”ks’krk,¡ ik;h
tkrh gSa&
2- ,d foØsrk vkSj vf/kd Øsrk&,dkf/kdkjh cktkj esa oLrq dk ,dek=
¼vFkok foØsrk½ gksrk gS tcfd Øsrkvksa dh la[;k vf/kd gksrh gSA
Øsrkvksa dh la[;k vf/kd gksus ds dkj.k Øsrk bl fLFkfr esa ugha gksrs
fd os cktkj dher dks izHkkfor dj ldsaA
3- fudV LFkkukiUu dk vHkko&cktkj esa ,dkf/kdkjh dk dksbZ fudV
LFkkukiUu miyC/k ugha gksrk ftlds QyLo:Ik ,dkf/kdkjh oLrq dh
ek¡x dh vkM+h yksp “kqU; gksrh gSA
4- ,dkf/kdkjh Lo;a dher&fu/kkZjd&cktkj esa vdsyk mRiknd ,oa foØsrk
gksus ds dkj.k ,dkf/kdkjh viuh oLRkq dh dher Lo;a r; djrk gSA
nqljs “kCnksa es]a ,dkf/kdkjh dher vkSj mRiknu nkeksa dks fu/kkZfjr dj
ldrk gS fdUrq ,dkf/kdkjh dher vkSj mRiknu nksuksa dks ,d le; esa
,d lkFk fu/kkZfjr ugha dj ldrkA
5- ubZ QeksZa ds izos”k dk izfrca/k&,dkf/kdkjh esa ubZ QeksZa dk mRiknu {ks=
esa izos”k iw.kZr% izfrcaf/kr gksrk gSA ,dkf/kdkjh QeZ dk cktkj esa dksbZ
izfr;ksxh ugha gksrkA
6- ek¡x oØ dk _.kkRed <ky&,dkf/kdkjh ek¡x oØ _.kkRed <ky okyk
gksrk gSA vkSj lhekUr vkxe vkSlr vkxe ls de gksrk gSA ek¡x oØ
dk <ky ek¡x dh yksp ij fuHkZj djrk gSA
7- dher foHksn dh laHkkouk&dher foHksn ls vfHkizk; gS fdlh ,d oLrq
dks fofHkUu miHkksDrkvksa dks fofHkUu dherksa ij cspukA ,dkf/kdkjh dh
fLFkfr esa dher foHksn dh laHkkouk gks ldrh gSA ,dkf/kdkjh ,d oLrq
dks fofHkUu Øsrkvksa dks vYkx&vyx dherksa ij csp ldrk gSA
Q.13. Explain the managed floating exchange rate system.

258
izcfU/kr rSjrh fofue; nj iz.kyh Li’V dhft,A\
Ans:- International trade and the flow of foreign

investments are adversely affected by fluctuation of
exchange rates. For solving this problem, Smithsonian
Agreement was made on December 18,1971. This
agreement raised the fluctuation range of exchange parity
at both ends by 1 percent to 2.25 percent.
On February 12,1973, after the devaluation of
American dollar Smithsonian Agreement was broken.
After Jamaica Agreement in January 1976, floating
exchange rate system was launched under International
monetary fund.
In fact, floating exchange rate system was not a free
flexible exchange rate system but is a managed floating
exchange rate system in which the monetary authority of
the nations were given the responsibility to eliminate
short-run fluctuations of exchange rates without affecting
the long-run trends of the exchange rates. Thus, in this
given opportunity to enjoy the benefits of fixed exchange
rates on one hand and also to maintain flexible exchange
rate for adjusting imbalances in balance of payments on
the other.
259
In managed floating exchange-rate short-term

fluctuations of exchange rate are controlled with the use of
foreign exchange funds without affecting the long-term
inclination of exchange rates.
Clean Floating and Dirty Floating systems.
i. In clean floating system, exchange rate is allowed to be
determined by two free forces of demand and supply
in the market. In this system, monetary authority is
not allowed to interfere and foreign exchange market
re-adjusts itself by demand and supply forces without
any intervention.
ii. In Dirty Floating system, the monetary authority of the
country marks intervention to check fluctuations of
exchange rate. The basic aim of this intervention is to
favour domestic nation.
Thus, in clear floating system exchange rte
stability is obtained with flexibility to same extent but
in dirty floating system, there is no flexibility in
exchange rate.
varjkZ’Vªh; O;kikj ,oa fons”kh fuos”kksa dk izokg fofue; njksa esa
fujUrj gksus okys mPpkopuksa ls izfrdqy :I esa izHkkfor gksrk gSA
blh leL;k ds lek/kku ds fy, 18 fnlEcj] 1971 dks
fLeFklksfu;u lEk>kSrk fd;k x;kA bl lEk>kSrs }kjk fofue;
lerk ds nksua ksa vksj mrkj&p<+ko dh iV~Vh dks 1 izfr”kr ls 2-
25 izfr”kr rd c<+k fn;k x;kA
260
12 Qjojh] 1973 dks vefjdh MkWyj ds

voeqY;u ds ckn fLeFklksfu;u le>kSrk VqV x;kA tuojh]1976
esa teSdk le>kSrk ds ckn vUrjkZ’Vªh; eqnzk dks’k ds v/khu rSjrh
fofue; nj dh O;OkLFkk dk vkjEHk gqvkA
rSjrh fofue; iz.kkyh okLro esa eqDr ykspiq.kZ
fofue; nj iz.kkyh ugha Fkh cfYd ;g ,d izcfU/kr rSjrh
fofue; nj iz.kkyh Fkh ftlds vUrxZr fofHkUu ns”kksa ds ekSfnzd
iz”kklu dks ;g ftEesnkjh nh xbZ Fkh f dos fofue; njksa dh
nh?kZdkfyd izo`fr dks izHkkfor fd, fcuk fofue; nj ds
vYidkyhu mrkj&p<+ko dks nqj djsaA bl izcfU/kr rSjrh iz.kkyh
esa tgk¡ ,d vksj ns”kksa dks fLFkj fofue; njksa ls gksus okys ykHkksa
dks izkIr djus dk volj fn;k x;k] ogha nqljh vksj ns”k ds
Hkqxrku “ks’k ds vlUrqyuksa dks lek;ksftr djus ds fy,
yksp”khyrk cuk, j[kus dk Hkh volj fn;k x;kA
izcfU/kr rSjrh iz.kkyh ds vUrxZr fons”kh fofue;
dks’kksa dk iz;ksx djrs gq, fofue; nj ds nh?kZdkyhd >qdko dks
izHkkfor fd;s fcuk fofue; nj ds vYidkfyd mrkj&p<+koksa dks
de djus esa lQyrk feyrh gSA
LoPN ,oa xUnh rSjrh iz.kkfy;k¡%&
1- LoPN rSjrh iz.kkyh
esa fofue; nj dks ek¡x ,oa iqfrZ dh eqDr cktkj “kfDr;ksa
}kjk fu/kkZfjr gksus fn;k tkrk gSA blesa ekSfnzd iz”kklUk
gLr{ksi ugha djrk vkSj fons”kh fofue; cktkj fcuk fdlh
gLr{ksi ds Lor% gh ek¡x ,oa iqfrZ esa lek;kstu dj ysrk gSA
261
2- xUnh rSjrh iz.kkyh

esa ns”k dk ekSnzhd iz”kklu dhyu fØ;kvksa ds }kjk fofue;
nj ds mrkj&p<+koksa dks de djus ;k iqjh rjg lekIr djus
ds fy, gLr{ksi djrk gSA bl gLr{ksi dk m)s”; ?kjsyq ns”k
dks ykHk igq¡pkuk gksrk gSA
bl izdkj LoPN rSjrh iz.kkyh esa dqN lhek rd
yksp”khyrk ds lkFk fofue; nj esa fLFkjrk izkIr gks tkrh gS]
tcfd blds foijhr xUnh rSjrh rSjrh iz.kkyh esa fofUke; nj
esa yksp”khyrk ugha gksrhaaA
Q.14. How is Interest Rate determined?

C;kt nj dSSls fu/kZkfjr gksrh gS \
Ans:- Classical economists propounded the theory of demand

and supply for determining the interest rate. Like commodity price
determination interest rate is also determined by the demand
for capital and supply of capital. The interest rate in

defermined at that point where demand for capital becomes equal
to supply of capital.
Y
D
Rate of Interest
O X
Demand for capital
262
Demand for capital:capital is demanded for its
productivity. Demand for capital is demanded for its
productivity. Demand for capital refers to the demand for
investment. As more and more capital is used marginal
productivity of capital declines. Hence, producer will use

capital till that point where marginal productivity of capital
declines and becomes equal to rate of interest. According to
classical
economists, when interest rate talls, demand for capital

increases
and vice versa. Hence capital demand curve declines from left
to
right (fig)
Y
s
Rate of Interest
O X
Supply for capital
263
supply of capital: supply of capital depends upon
saving. Saving is that part of income which is not spent on
consumption, supply of savings depend on real factors like
abstinence, waiting or time preference of consumption. The
change in these real factors brings change insavings. High
interest rate induces savings and vice versa. Hence, supply

curve
of capital (orsaving)is upward sloping from left to right (fig)
Interest Rate Determination :Demard-supply

Equilibrium:Interest
rate is determined at the point where demand for capital
(i.e.,investment)becomes equal to supply of capital (i.e,saving).
In fig, investment curve DDand saving curve SScut each

other
at point E where interest rate or is determined.

264
Y D s
Rate of Interest
R
E
s D
M
O X
Demand and Supply
ijEijkoknh vFkZ”kkfL=;ksa us C;kt ds fu/kZkj.k ds fy, ek¡x vkSj iwfrZ dk
fl)kUr izfrikfnr fd;kA bl fl)kUr ds vuqlkj fdlh oLrq ds ewY; dh Hkk¡fr
C;kt dh nj Hkh ek¡x vkSj iwfrZ ds fl)kUr }kjk fu/kZkfjr gksrh gSA ftl C;kt dh
nj ij iw¡th dh ek¡x vkSj iwfrZ leku gks tkrh gS] ogh C;kt dh nj fu/kkZfjr gks
tkrh gSA
Y
D
Rate of Interest
O X
Demand for capital
iw¡th dh ek¡x ¼ Demand for capital ½ iw¡th dh ekax iw¡th dh

mRikndrk ds dkj.k dh tkrh gSa iw¡th dh ek¡x ls rkRi;Z fuos”k gsrq dh xbZ ek¡x
;s gSa T;ksa T;ksa iw¡th dk iz;ksx c<k;k tkrk gSA iwath dh lhekUr mRikndrk ?kVrh
tkrh gSA vr% mRiknd ml lhek rd iw¡th dk iz;ksx djsax
s s] tgk¡ rd fxjdj
Bhd C;kt nj ds cjkcj gks tk,xh A izfrf’Br vFkZ”kkfL=;ksa ds vuqlkj tc C;kt
265
nj fxjrh gSArks iw¡th dh ek¡x c< tkrh gSA vkSj tc C;kt nj Å¡ph gksrh gS rks
iw¡th dh ek¡x de gks tkrh gSA blh fy, iw¡th dk ek¡x odz ck,¡ ls nk,¡ uhps dks
fxjrk gqvk gksrk gSA ¼fp= esa DD oØ½
Y
Rate of Interest s
O X
Supply for capital
iw¡th dh iwfrZ ¼ Supply of capital ½& iw¡th dh iwfrZ cpr ¼ Saving ½ ij

fuHkZj djrh gSA cpr vk; dk og Hkx gSA] tks miHkskx ij [kpZ ugha fd;k tkrk ]
cpr dh iwfrZ ij miHkksx & LFkxu ¼abstinence ½ izrh{kk ¼ Waiting ½ le;
vf?keku rRoksa ¼ time preference ½vkfn okLrfod rRoksa ¼ real factors ½ dk
izHkko iM+rk gSA bu okrfod rRoksa esa ifjorZu gksus ij cpr dh ek=k esa Hkh
ifjorZu gks tkrk gSA C;kt nj ds c<us ij cpr esa o`f) gks tkrh gSa blds
foijhr ] C;kt nj ds ?kVus ij cpr Hkh ?kV tkrh gSA vr% cpr ;k iwt
a h dh iwfrZ
odz dk <yku Åij dh vksj gksrk gSA ¼ fp= esa ss oØ½ C;kt nj fu/kkZj.k% ek¡x
iwfrZ lkE; ¼ Interest Rate Determination : Demand –supply
?Equilibrium ½& C;kt nj ml fcUnq ij fu/kkZfjr gksxh tgk¡ iwt
a h dh ¼ fuoa”k
ds fy, ½ek¡x rFkk iwath ¼ ;k cprksa ½ dh iwfrZ cjkcj gks tk;ax
s hA fp= ss cpr
oØ rFkk DD fuos”k oØ gSA nksuks oØ ,d nwljs dks fcUnq ij dkVrs gSa ftlls
OR lUrqyu C;kt nj fu/kkZfjr gksrh gSA
266
Y D s
Rate of Interest
R
E
s D
M
O X
Demand and Supply
Q.15. Income Equilibrium level in Keynesian view point

represents
under full employment situation. Explain.

dhfUl;u fopkj esa vk; lUrqyu Lrj viw.kZ jkstxkj Lrj dks lwfpr djrk
gSA
Li’V dhft, \
Ans:- Classical viewpoint explains the income equilibrium level

at
full employment level,i.e, aggregate demand can equal

aggregate
supply only at a point of full employment. Contrary to it,

according
to Keynesian viewpoint aggregate demand equals aggregate
supply at the point before full employment level (i.e takes place
at
267
underfull employment level). Aggregate demard has to be
increased for increasing employment in the economy.
I,e. in Keynesian viewpoint, under full employment
equilibrium can be converted to full employment equilibrium
only by increasing aggregate demand. According to Keynes,
“under employment equilibrium is a situation in which

aggregate
demand (which is less than full employment aggregate

demand)is
equal to aggregate supply so that there is equilibrium but some
resources remain unemployed.”
In this situation, factors are not fully employed and all
laboures do not get employment. According to Keynes under
employment situation appears due to deficient aggregate

demand
but not due to deficiency of aggregate supply.

268
Y AS
AD1
E1
AD1=AS
AD
AD/AS
AD/AS
Point of
under employment
Point of full
employmet
45
O X
N1 N
Out put/Income/Employment
In fig, at on,employment level, AD=AS but it is a situation of

under-full
employment. When aggregate demand AD increases to AD, full
employment level on is obtained.

Dykfldy fopkj/kkjk vk; ds larqyu Lrj ij iw.kZ jkstxkj dh n”kk
¼ situation of full employment ½ crkrh gS] vFkkZr Dykfldy

vFkZ”kkfL=;ksa
ds vuqlkj lkeqfgd ek¡x ,oa lkewfgd iwfrZ dk larqyu dsoy iw.kZ jkstxkj ds
fcUnq ij gh gks ldrk gSA
blds foijhr dhfUl;u fopkj/kkjk ds vuqlkj lexz ek¡x ,oa lexz
iwfrZ
dk larqyu iw.kZ jkstxkj Lrj ls de jkstxkj Lrj vFkkZr viw.kZ jkstxkj esa
gksrk
269
gSA rFkk jkstxkj dh o`f) ds fy, lexz ek¡x dks c<kuk iM+rk gSA
vFkkZr dhfUl;u fopkj/kkjk esa viw.kZ jkstxkj larqyu dks iw.kZ jkstxkj larqyu
esa
cnyus ds fy, lexz ek¡x dks c<k;k tkrk gSA dhUl ds vuqlkj viw.kZ
jkstxkj
lUrqyu og fLFkfr gS ftlesa lexz ek¡x ¼ AD ½ ¼tks iw.kZ jkstxkj okyh lexz
ek¡x ls de gS ½ rFkk dqy iwfrZ¼ AS ½esa lekurk vFkkZr lUrqyu ik;k tkrk
gSA
ijUrq dqN lk/ku csjkstxkj jg tkrs gSA bl fLFkfr esa vFkZO;oLFkk esa lk/kuksa dk
iw.kZ mi;ksx ugh gksrk rFkk lHkh Jfedksa dks jkstxkj izkIr ugh gksrk A dhUl
ds
vuqlkj ;g voLFkk lexz iwfrZ esa deh ds dkj.k mRiUu ugh gksrh cfYd lexz
ek¡x esa deh ds dkj.k mRiUu gksrh gSA vr% ek¡x dks c<kdj iw.kZ jkstxkj fcUnq
izkIr fd;k tk ldrk gSA
Y AS
AD1
E1
AD1=AS
AD
AD/AS
AD/AS
Point of
under employment
Point of full
employmet
45
O X
N1 N
Out put/Income/Employment
270
mi;qZDr fp= ON esa jkstxkj Lrj ij AD= AS gksrs gq, Hkh viw.kZ
jkstxkj dh fLFkfr gS lkewfgd ek¡x AD dks c<kdj AD djus ij AD=

AS
dh fLFkfr fcUnq Eij izkIr gksrh gS ftl ij ON iw.kZ jkstxkj Lrj izkIr gksrk
gSA
271
272
273
MODEL SET
MODEL PAPER
d{kk &XII
Set – 8
fodYi dks

only one
answersheet.
1. The steps of production possibility curve falls :

(a) From left to right (b) From right to left
(c) From top to bottom (d) From bottom to top
mRiknu laHkkouk oØ dk <ky fxjrk gS %
(a) ck;sa ls nk;sa (b) nk;sa ls ck;sa
(b) nk;sa ls ck;sa (d) uhps ls mij
2. In which economy decision are taken on the basis of price
mechanism:
7
(a) Socialist (b) Capitalist
(c) Mixed (d) All of these
fdl vFkZO;oLFkk esa dher ra= ds vk/kkj ij fu.kZ; fy;s tkrs gSa\
274
(a) Lektoknh (b) iw¡thoknh

(c) feJhr (d) buesa ls lHkh
3. Mention the name of the curve which shows economic problem :
(a) Production curve (b) Demand curve
(c) Indifference curve (d) Production possibility curve
ml pØ dk uke crk;sa tks vkfFkZd leL;k n’kkZrk gS %
(a) mRiknu oØ (b) ek¡x oØ

(c) mnklhurk oØ (d) mRiknu laHkkouk oØ
4. According to whom, Economics is a Science of human welfare ?
(a) A. Marshall (b) Paul Samuelson
(c) J.S. Mill (d) Adam Smith

fdlds vuqlkj vFkZ’kkL= ekuo dY;k.k dk foKku gS\
(a) ,0 ek’kZy (b) ikWy lsE;qylu
(c) ts0 ,l0 fey (d) ,Me fLeFk
5. Cansumer behavior is studed in :

(a) Micro Economics (b) Income Theory
(c) Macro Economics (d) None of the above

miHkksDrk O;ogkj dk v/;;u fd;k tkrk gS &
(a) lw{e vFkZ’kkL= esa (b) vk; fo’ys"k.k esa
(c) lef"V vFkZ’kkL= esa (d) mi;qZDr esa ls dksbZ ugha
6. Which of the following statement is true?

(a) Utility means want-satisfying power
(b) Utility is a function of intensity of desire
(c) Desire of consumption gives birth to utility

275
(d) All of these

fuEu esa dkSu&lk dFku lgh gS\
(a) mi;ksfxrk dk vFkZ vko’;drk dh larqf"V 'kfDr gSA
(b) mi;ksfxrk bPNk dh rhozrk dk Qyu gSA
(c) oLrq ds miHkksx dh bPNk mi;ksfxrk dks tUe nsrh gSA
(d) buesa ls lHkh
7. When T.U. becomes maximum, MU is :
(a) Positive (b) Negative
(c) Zero (d) None of these

tc dqy mi;ksfxrk vf/kdRre gksrh gS] rc lhekUr mi;ksfxrk %
(a) /kukRed gksrh gS (b) _.kkRed gksrh gS
(c) 'kwU; gksrh gS (d) buesa ls rhuksa n’kk,¡
8. Which of the following is true ?
(a) TU increases till MU is (b) TU is maximum when MU=0

positive
(c) TU declines when MU is (d) All of these

negative
fuEu esa dkSu&lk dFku lgh gS\
(a) tc rd lhekUr mi;ksfxrk /kukRed gS] rc rd dqy mi;ksfxrk c<-rh gSA
(b) tc lhekUr mi;ksfxrk 'kwU; gks tkrh gS] rc dqy mi;ksfxrk vf/kdRre gksrh gSA
(c) tc lhekUr mi;ksfxrk _.kkRed gksrh gS] rc dqy mi;ksfxrk ?kVus yxrh gSA
276
(d) buesa ls lHkh

9. Who basically propounded the concept of law of equi-marginal
utility?
(a) Marshall (b) Gossen
(c) Ricardo (d) J.S. Mill

le&lhekUr mi;ksfxrk fu;e ds fopkj ds ewy izfriknd dkSu Fks\
(a) ek'kZy (b) Xkslsu
(c) fjdkMksZ (d) ts0 ,l0 fey

10. For the maximum satisfaction of consumer :
(a) Marginal utility of a good should be equal to its price.
(b) Marginal utility of a good should be greater than its price
(c) There is no relation between marginal utility and price.
(d) None of these.

miHkksDrk dh lokZf/kd larqf"V ds fy, &
(a) oLrq dh lhekUr mi;kfxrk mlds 'kwU; ds leku gksuh pkfg,A
(b) oLrq dh lhekUr mi;ksfxrk mlds 'kwU; ls vf/kd gksuh pkfg,A
(c) lhekUr mi;ksfxrk vkSj ewY; dk dksbZ laca/k ugha gSA
(d) buesa ls dksbZ ugha
11. According to Marshall, utility of a commodity :
(a) Can be measure by (b) Can not be measured by money
money
277
(c) Can be measured in (d) All of the above.

cardinal numbers
ek'kZy ds vuqlkj] fdlh oLrq dh mi;ksfxrk dks &
(a) eqnzk esa ekik tk ldrk gS (b) eqnzk esa ugha ekik tk ldrk gS
(c) la[;kRed :i esa ekik tk (d) (a) ,oa (c) nksuksa

ldrk gS
12. For a change in which of the following, there is no change in
demand?
(a) Change in price (b) Change in income
(c) Change in taste and (d) None of these

fashior
fuEufyf[kr esa ls fdlds ifjorZu ls ek¡x esa ifjorZu ugha gksrk gS\
(a) ewY; esa ifjorZu (b) vk; esa ifjorZu
(c) :fp rFkk QS’ku esa ifjorZu (d) buesa ls dksbZ ugha
13. For normal goods, law of demand states the …….. relationship
between price and quantity of goods :
(a) Direct
(b) Positive
(c) Indirect
lkekU; oLrqvksa ds fy, ek¡x dk fu;e oLrq dh dher ,oa oLrq dh ek¡x ds chp O;Dr
djrk gS%
278
(a) lh/ks lEcU/k dks

(b) /kukRed lEcU/k dks
(c) foijhr lEcU/k dks
14. Which of the following is a reason for fall in demand?
(a) Fall in income (b) Fall in number of buyers
(c) Fall of taste of consumer (d) All the above
Ekk¡x esa deh ds fuEufyf[kr esa dkSu&ls dkj.k gSa\
(a) vk; esa deh (b) Øsrkvksa dh la[;k esa deh
(c) miHkksDrk dh :fp esa deh (d) buesa ls lHkh
15. The demand curve of a good shifts from DD1 to dd1.
Y
D d
Price (Rs)
D1 d1
O Demand (Units) X
(a) Fall in the price of the goods

279
(b) Rise in the price of the goods
(c) Rise in the price of the substitute goods.
(d) Rise in the price of complementary goods.
,d oLrq dh ek¡x oØ DD 1 ls f[kld dj dd1 gks tkrh gS &
Y
D d
Price (Rs)
D1 d1
O Demand (Units) X
(a) oLrq dh dher de gksuk gks ldrk gSA

(b) oLrq dh dher c<-uk gks ldrk gSA
(c) izfrLFkkiuk oLrq dh dher c<-uk gks ldrk gSA
(d) iwjd oLrq dh dher c<-uk gks ldrk gSA
16. How many types elasticity of demand has ?
(a) Three
(b) Five
280
(c) Six
(d) Seven
Ekk¡x dh yksp fdrus izdkj dh gksrh gS\
(a) Rhu
(b) Ikk¡p
(c) N%
(d) Lkr
17. Elasticity of demand for necessities is :
(a) Zero (b) Unlimited
(c) Greater than unity (d) Less than unity

vko';d oLrqvksa dh ek¡x dh yksp gksrh gS%
(a) 'kwU; (b) Vlhfer
(c) bdkbZ ls vf/kd (d) bdkbZ ls de

18. With which method elasticity of demand is measured ?
(a) Total expenditure (b) Percentage or proportionate
method method
(c) Point method (d) All of these

Ekk¡x dh yksp dk eki fuEufyf[kr esa fdlh fof/k ls fd;k tkrk gS\
(a) dqy O;; jhfr (b) fcUnq jhfr
(c) izfr’kr ;k vuqikfrd jhfr (d) buesa ls lHkh

19. In which stage of production a rational producer likes to operate in
short – run production?
(a) First stage (b) Second stage
281
(c) Third stage (d) None of these

vYidkfyu mRiknu dh n’kk esa ,d foosd’khy mRiknd fdl voLFkk rd mRiknu
djuk ilan djsxk\
(a) izFke voLFkk (b) f}rh; voLFkk
(c) r`rh; voLFkk (d) buesa ls dksbZ ugha
20. Law of variable proportion explains thre stages of production . In

the first stage of production:
(a) Both MP and AP rise (b) MP rises
(c) AP falls (d) MP is zero

ifjorZu’khy vuqikr dk fu;e mRiknu dh rhu voLFkkvksa dh ppkZ djrk gS] mRiknu
ds izFke pj.k esa &
(a) lhekUr vkSj vkSlr mRiknu (b) lhekUr mRiknu c<-rk gS
c<-rs gSa
(c) vkSlr mRiknu fxjrk gS (d) lhekUr mRiknu 'kwU; gksrk gS

21. What happens when production is shut down ?
(a) Fixed cost increases (b) Variable cost decline
(c) Variable cost become (d) Fixed cost become zero

zero
mRiknu cUn dj nsus ij fuEufyf[kr esa dkSu & lk izHkko iM-rk gS\
(a) fLFkj ykxrsa c<- tkrh gS (b) ifjorZu’khy ykxrsa de gks tkrh gSa
282
(c) ifjorZu’khy ykxrsa 'kwU; gks (d) fLFkj ykxrsa 'kwU; gks tkrh gSa
tkrh gS
22. Following figure shows :
Y
K5
K4
K3
cost
K2
K1
X
O
Q1 Q2 Q3 Q4 Q5
Production
(a) Total fixed cost
(b) Total variable cost
(c) Total cost
(d) Nane of the above

fuEufyf[kr fp= iznf’kZr djrk gS &
283
Y
K5
K4
K3
cost
K2
K1
X
O
Q1 Q2 Q3 Q4 Q5
Production
(a) dqy fLFkj ykxr

(b) dqy ifjorZu’khy ykxr
(c) dqy ykxr
23. In which market MR may become zero or negative?
(a) Monopoly (b) Monopolistic competition
(c) Both (a) and (b) (d) Perfect competition

fuEufyf[kr esa fdl cktkj n’kk esa lhekUr vkxe 'kwU; vFkok _.kkRed gks ldrk gS\
(a) ,dkf/kdkj (b) ,dkf/kdkfjd
(c) (a) vkSj (b) nksuksa (d) iw.kZ izfr;ksfxrk

24. Which increase in output , the difference between total cost and
total variable cost:
(a) Decreases (b) Increases
(c) Remains constant (d) None of the above

mRiknu esa o`f) ds lkFk&lkFk dqy ykxr ,oa dqy ifjorZu’khy ykxr esa varj &
284
(a) ?kVrk tkrk gS (b) c<-rk tkrk gS
(c) fLFkj jgrk gS (d) buesa ls dksbZ ugha

25. In perfect competition , which of the following remains constant?
(a) AR (b) MR
(c) Both AR and MR (d) None of the both

iw.kZ izfr;ksfxrk esa D;k fLFkj jgrk gS \
(a) AR (b) MR
(c) AR rFkk MR nksuksa (d) buesa ls dksbZ ugha
26. If all the factors of production are increased by same prortion and
as a result output increases by a greater proportion then it is called:
(a) Constant returns to scale (b) Decreasing returns to scale
(c) Increasing returns to (d) None of these

scale
mRiknu ds lHkh lalk/kuksa esa ,d gh vuqikr esa o`f) ds ifj.kkeLo:I mRiknu esa
vf/kd vuqikr esa o`f) gks rks bls dgrs gSa &
(a) fLFkj iSekus dk izfrQy (b) âkleku iSekus dk izfrQy
(c) Ok)Zeku iSekus dk izfrQy (d) buesa ls dksbZ ugha

27. With the increase in production the difference between total cost
and total fixed cost :
(a) Remains constant (b) Increases
(c) Decreases (d) Both increases or decreases

mRiknu esa o`f) ds lkFk&lkFk dqy ykxr ,oa dqy fLFkj ykxr dk vUrj &
285
(a) fLFkj jgrk gS (b) c<-rk tkrk gS
(c) ?kVrk tkrk gS (d) ?kVrk&c<-rk jgrk gS

28. Changes in production quantity affect:
(a) Both fixed and variable cost
(b) Only variable cost
(c) Only fixed cost

mRiknu dh ek=k esa ifjorZu dk izHkko &
(a) fLFkj ,oa ifjorZu’khy ykxrksa ij iM-rk gS
(b) dsoy ifjorZu’khy ykxrksa ij iM-rk gS
(c) dsoy fLFkj ykxrksa ij iM-rk gS
29. Which factors among following we find in short – run production
process?
(a) Fixed factors
(b) Variable factors
(d) None of these

vYidkyhu mRiknu izfØ;k esa fuEufyf[kr esa ls dkSu ls lk/ku gksrs gSa \
(a) fLFkj lk/ku
(b) ifjorZu’khy lk/ku
(c) (a) vkSj (b) nksuksa
286

30. Which statement of the following is true?
(a) AC =TFC-TVC (b) AC=AFC+TVC
(c) AC= TFC + AVC (d) AC = AFC+AVC

fuEu esa ls dkSu lk dFku lR; gS \
(a) AC = TFC – TVC (b) AC = AFC+TVC
(c) AC = TFC + AVC (d) AC = AFC + AVC
31. In monopoly and monopolistic competition:

(a) AR = MR (b) AR > MR
(c) AR < MR (d) None of these

,dkf/kdkj ,oa ,dkf/kdkfjd izfr;ksfxrk esa gksrk gS &
(a) AR = MR (b) AR > MR
(c) AR < MR (d) buesa ls dksbZ ugha
32. Which one is assumption of opportunity cost ?

(a) Perfect competition (b) Factors of production have got
employment
(c) Both (a) and (b) (d) None of these

volj ykxr dh ekU;rk,a dkSu & lh gSa \
(a) iw.kZ izfr;ksfxrk (b) mRiknu ds lk?ku iw.kZ jkstxkj izkIr fd,
gq, gSa

33. When total utility becomes maximum, marginal utility is:
287
(a) Positive (b) Negative
(c) Zero (d) None of these

tc dqy mi;ksfxrk vf/kdRre gksrh gS] lhekUr mi;ksfxrk gksrh gS &
(a) /kukRed (b) _.kkRed
(c) 'kwU; (d) buesa ls dksbZ ugha

34. Utility can be measured by:
(a) Money (b) Exchange of goods
(c) Weight of the goods (d) None of these

mi;ksfxrk dks ekik tk ldrk gS &
(a) eqnzk ds }kjk (b) oLrqvksa ds fofue; }kjk
(c) oLrq ds otu }kjk (d) buesa ls dksbZ ugha

35. Which elements is essential for demand ?
(a) Describe for a good (b) Given price
(c) Wellingness to spend (d) All the above

Ekk¡x ds fy, dkSu &lk rRo vfuok;Z gS \
(a) oLrq dh bPNk (b) ,d fuf’pr ewY;
(c) lk/ku O;; dh rRijrk (d) mi;qZDr lHkh

36. The alternative name of opportunity cost is:
(a) Economic cost (b) Equilibrium price
(c) Marginal cost (d) Average cost

volj ykxr dk oSdfYid uke gS &
(a) vkfFkZd ykxr (b) lUrqyu ewY;
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(c) lhekUr ykxr (d) vkSlr ykxr

37. In perfect competition , a firm :
(a) Determine price (b) Obtain profit
iw.kZ izfr;ksfxrk esa ,d QeZ &
(a) ewY; fu/kkZj.k djrh gS (b) ykHk izkIr djrh gS

38. To which factor ecomics problem is basically related to :
(a) Consumer selection (b) Firm selection
(c) Choice (d) None of these
vkfFkZd leL;k ewyr% fdl rF; dh leL;k gS \
(a) miHkksDrk p;u dh (b) QeZ p;u dh
(c) pquko dh (d) buesa ls dksbZ ugha
39. What is called at quantity of a goods which a seller nbecomes ready

to scale at a fixed price and particular time in the market ?
(a) Supply (b) Demand

289
(c) Elasticity of supply (d) Elasticity of demand
oLrq dh ml ek=k dks D;k dgrs gSa ftls foØsrk fuf’pr le; rFkk dher ij cktkj
esa cspus dks rS;kj gks \
(a) vkiwfrZ (b) Ekk¡x
(c) iwfrZ dh yksp (d) Ekk¡x dh yksp
40. In very short period , supply will be :
(a) Perfectly elastic (b) Perfectly inelastic
(c) Elastic (d) None of these
vfr vYidky dh iwfrZ gksxh &
(a) iw.kZr% ykspnkj (b) iw.kZr% csykspnkj
(c) Ykspnkj (d) buesa ls dksbZ ugha
MODEL PAPER
SET- 8
290
Answers :-
(1) c (2) b (3) d (4) a (5) A

(6) d (7) c (8) d (9) c (10) A
(11) d (12) D (13) c (14) d (15) C
(16) b (17) A (18) d (19) b (20) A
(21) c (22) B (23) c (24) c (25) C
(26) c (27) B (28) b (29) c (30) D
(31) b (32) C (33) c (34) a (35) D
(36) a (37) C (38) c (39) a (40) D
291
MODEL PAPER
d{kk & XII
Set - 8
( [k.M & II ) (Section- II)
(y?kq mRrjh; iz'u)
(Short Answer Type Questions)
fu/kkfjZr gS A
carries 3
marks.
Q. 1 Explain any two factors that affect price elasticity of demand.

Ekk¡x dh yksp dks izHkkfor djus okys nks rRoksa dks le>kb,A
Q. 2 What is proportionate method of measuring elasticity of
demand ?
Ekk¡x dh yksp dks ekius dh vuqikfrd jhfr D;k gS\
Q. 3 What do you understand by returns to scale?
iSekus ds izfrQy ls vki D;k le>rs gSa\
Q. 4 The price elasticity of supply of a good is 0.8 . Its price rises by

50% .Calculate the percentage increase in its supply .
292
,d oLrq dh iwfrZ dh dher yksp 0-8 gSA bldh dher 50% c<-rh gSA bldh
iwfrZ esa gksus okyh izfr’kr o`f) dk ifjdyu dhft,A
Q. 5 Can a monopolist simultaneously control both quantity and

price of the good ?
D;k ,dkf/kdkjh iwfrZ dh ek=k rFkk dher nksuksa dks ,d lkFk fu;af=r dj
ldrk gS\
Q. 6 Distinguish between National Income and Private income.
jk"Vªh; vk; vkSj futh vk; esa varj crkb,A
Q. 7 What is consumption and consumption function?
miHkksx ,oa miHkksx Qyu D;k gS\
Q. 8 Explain the defference between progressive tax and

proportional tax .
izxfr'khy dj rFkk vuqikfrd dj esa Hksn Li"V dhft,A
Q. 9 What are the important features of capital account ?
iw¡th [kkrs dh egRoiw.kZ fo’ks"krk,¡ D;k gS\

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Q. 10 What is ment by foreign exchange market ? Explain its main

functions .
fons'kh fofue; cktkj ls D;k vfHkizk; gS\ blds izeq[k dk;Z crkb,A
Long Answer type Questions

¼nh?kZ mRrjh; iz’u½
[k.M & III (Section-III)
fu/kkfjZr gS A
Instruction :- For questions 11 to 15 are long answer type and each question
carries
6 marks.
Q. 11. Explain the total expenditure method of measuring elasticity

of demand.
Ek¡kx dh yksp dks ekius dh dqy O;; fof/k dk o.kZu dhft,A
Q. 12. How is profit rate determined ?

ykHk nj dk fu/kkZj.k dSls gksrk gS\
Q. 13. What do you mean by price elasticity of damand ? How is it

measured ?
294
Ek¡kx dh dher yksp ls vki D;k le>rs gSa\ bls dSls ekik tkrk gS\
Q. 14. When is an economy in equilibrium ? Explain with the help of

saving and investment functions with diagram?
cpr ,oa fuos’k Qyu dh lgk;rk ls le>kb, fd vFkZO;oLFkk dc larqyu esa

gksrh gS\ js[kkfp= dk iz;ksx dhft,A
Q 15. In an economy S= - 100 + 0.6 Y is the saving function, where S
is saving and Y is national income . If investment expenditure
is 1100, calculate :
I. Equilibrium lavel of national income
II. Consumption expenditure at equilibrium level of national
income.
,d vFkZO;oLFkk esa cpr Qyu S= - 100 + 0.6 Y gS ftlesa cpr vkSj jk"Vªh;
vk; gSA ;fn fuos’k O;; 1100 gS rc fuEufyf[kr dk ifjdyu dhft,A
1- jk"Vªh; vk; dk lUrqyu Lrj
2- jk"Vªh; vk; ds lUrqyu Lrj ij miHkksx O;;
295
Short Answer Type Questions.

y?kq mÙkjh; iz’u
( [k.M & II ) (Section- II) 10 x 3 =

30
funsZ’k & iz’u la[;k 1 ls 10 rd y?kq mÙkjh; iz’u gS rFkk izR;sd ds fy, 3 vad fu/kZkfjr gS A
Instruction :- For questions no 1 to 10 are short answer type and each
question
carries 3 marks.
Q. 1 Explain any two factors that affect price elasticity of demand?

“dSls mRiknu fd;k tk,” dh leL;k ls D;k vfHkizk; gS\
Ans:- The two factors that affect elasticity of demand are :

I. Substitutes :- When substitutes of any goods is available ,
then demand elasticity of such goods is highly elastic ,
because when price of these goods increases,
substitutes are used in place of it. In the samy way, on
decrease in price of these goods, use a substitutes
decreases. Tea , coffee , gur , sugar etc. are examples of
substitutes.
II. Price level:- Elasticity of demand also depends on price
level of the goods .Elasticity of demand will be greater at
high price level and less at low level of price .
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mRrj %& ek¡x dh yksp dks izHkkfor djus okys nks rRo fuEufyf[kr gS %&
1- LFkkukiUu oLrq,¡ & ;fn fdlh oLrq ds vU; LFkkukiUu miyC/k gSa rc ,slh
oLrq dh ek¡x dh yksp vR;f/kd ykspnkj gksxh] D;ksfa d tc fdlh oLrq dh
dher c<- tkrh gS rks mlds LFkku ij vU; LFkkukiUu oLrqvksa dk iz;ksx
gksus yxrk gSA blh izdkj oLrq dh dher esa deh gksus ij vU; LFkukiUu
oLrqvksa ds LFkku ij bldk iz;ksx gksus yxrk gSA pk;] dkWQh] xqM-] phuh
vkfn ,slh gh LFkkukiUu oLrq,¡ gSaA cktkj esa vusd VqFkisLV ,oa lkcquksa dh
miyfC/k Hkh LFkkukiUu oLrqvksa dh Js.kh esa vkrh gSaA
2- vk; Lrj & vk; Lrj Hkh ek¡x dh yksp dks izHkkfor djrk gSA /kuh O;fDr
ds fy;s ek¡x dh yksp izk;% csykspnkj gksrh gS] D;ksafd cLrqvksa dh dher c<-
us dk /kuh O;fDr ij dksbZ fo’ks"k izHkko ugha gksrk] tcfd xjhc O;fDr ds
fy, oLrq dh ek¡x vR;f/kd ykspnkj gksrh gSA D;ksfa d mudh ek¡x dher esa
o`f) ls vR;f/kd izHkkfor gksrh gSA
Q. 2 What is proportionate method of measuring elasticity of
demand ?
Ekk¡x dh yksp dks ekius dh vkuqikfrd jhfr D;k gS\
Ans :- This method was propounded by prof. Flux . According to this
method, for calculating the elasticity of demand ,
proportionate or percentange change in demand is divided by
proportionate or percentange change in price .
Or
ed = (-)
297
x 100
ed = (-) ---------------------------------------
x 100
= --------------- = ( -_) -----------
ed = (-) x
or ed = (-) x
mRrj %& bl jhfr dk izfriknu izks0 Q~yDl us fd;kA bl jhfr ds vuqlkj] ek¡x dh
yksp dk vuqikr yxkus ds fy, ek¡x esa gksus okys vkuqikfr ;k izfr’kr ifjorZu
dks dher esa gksus okys vkuqikfr ;k izfr’kr ifjorZu ls Hkkx dj fn;k tkrk gSA
bl fof/k }kjk ek¡x dh yksp dk eki fuEufyf[kr lw=ksa dh lgk;rk ls Kkr
gksrk
ed = (-) ek¡x esa vkuqikfrd ;k izfr’kr ifjorZu
dher esa vkuqikfrd ;k izfr’kr ifjorZu
ed = (-) ek¡x esa ifjorZu@izkjfEHkd ek¡x x 100

298
dher esa ifjorZu@ izkjfEHkd dher x 100
= --------------- = (-) -----------
ed = (-) x
vFkok ed = (-) x
Q. 3 What do you understand by returns to scale ?
iSekus ds izfrQy dks vki D;k le>rs gSa \
Ans :- In constant proportion production function , the ratio of

factors utilised or in use remain constant . This type of
production function is realated to long – run. Long – run
signifies that period or duration in which a firm can change all
its factors of production. In other words, no factor remains
fixed in long- run. Factors of production cannot be classified
into fixed and variable factors in the long- run. Scale of
production can be completely changed in long – run. A firm
299
has sufficient time to change its factor of production and the

scale of production in long – run. In other words, a firm can
conveniently change its factors of production in long – run to
change its scale of production. So, ratio of factor utilisation
remains constant in long – run, only scale of production
changes. That is why, long – run production function is also
called returns to scale.
mRrj %& iSekus ds izfrQy mRiknu Qyu dh nh?kZdkyhu izo`fr dks lwfpr djrs gSaA
nh?kZdky esa dksbZ mRifr ds lk/ku fLFkj ugha jgrkA lHkh mRifRr ds lk/ku
ifjorZu’khy gks tkrs gSa rFkk mUgsa vko’;drkuqlkj ifjofrZr Hkh fd;k tk
ldrk gSA rHkh mRifRr lk/kuksa ds ifjorZu’khy gksus ds dkj.k mRiknu dk
iSekuk ijkofrZr fd;k tk ldrk gSA mRiknu rduhd esa lq/kkj] Je&foHkktu]
fof’kf"Vdj.k vkfn mRiknu esa vkarfjd ,oa cká cprs izkIr gksrh gSa fdUrq ;s
vkarfjd vkSj cká cprs lnSo LFkk;h ugha jgrh cfYd dqN le; ds ckn ;s
cprsa gkfu;ksa dk :Ik ys ysrh gSaA vkjEHk esa ;s vkarfjd ,oa cká cprsa iSekus ds
c<-rs izfrQy nsrh gSa fdUrq ;s cprsa tc gkfu;ksa esa cny tkrh gS rks iSekus ds
âkleku izfrQy mRiUu gksrs gSaA bu nksuksa izfrQyksa ds chp dh dM-h iSekus ds
fLFkj izfrQy dh gSA
Q. 4 The price elasticity of supply of a good is 0.8 . Its price rises
by 50 % calculate he percentage increase in its supply .
,d oLrq dh iwfrZ dh dher yksp 0-8 gSA bldh dher 50% c<-rh gSA
bldh iwfrZ esa gksus okyh izfr’kr o`f) dk ifjdyu dhft,A
Ans :- es=
300
0.8 =
So, % change in supply = 40 %

Q. 5 Can a monopolist simultaneously control both quantity and
price of the goods?
D;k ,dkf/kdkjh iwfrZ dh ek=k rFkk dher nksuksa dks ,d lkFk fu;af=r
dj ldrk gS\
Ans:- A monopolist can not determine the price of his product and
the demand quantity simultaneously. At a particular point of
time he can either dermine price or his sold quantity. If he
fixes the price, he will adjust his supply as per the demand
from consumer side and contrary to it, if he wants to pre-
determined his supply level (i.e., sold quantity) he has to sell
at the price were his supply matches the demand from
consumer side.
mRrj %& ,dkf/kdkjh oLrq dh ek¡x rFkk iwfrZ nksuksa ij ,d lkFk fu;a=.k ugha j[k ldrk
gSA oLrq dh ,d ek= mRiknd gksus ds dkj.k og oLrq dh iwfrZ ij fu;a=.k rks
j[k ldrk gS] ijUrq oLrq dh ek¡x dks izHkkfor ugha dj ldrk A blh dkj.k
og oLrq dh iwfrZ rFkk dher nksuksa dks ,d lkFk fu;af=r ugha dj ldrk gSA
og fdlh le; fo’ks"k ij ;k rks oLrq dh iwfrZ dks ;k oLrq dh dher dks
fuf’pr dj ldrk gSA ;fn og iwfrZ dks fuf’pr djrk gS rks cktkj ls oLrq dh
ek¡x ds vuqlkj gh tks dher r; gksrh gS] og dher gh mls Lohdkj djuh
gksxhA blds foifjr] ;fn og iwfrZ dh vis{kk dher dks fuf’pr djrk gS] rks
bl fuf’pr dher ij oLrq dh tks ek¡x ds vuqlkj og oLrq dk mRiknu vFkok
iwfrZ djsxkA
Q. 6 Distinguish between National Income and Private Income.
301
jk"Vªh; vk; vkSj futh vk; esa varj crkb,A

Ans:-
National Income Private Income
1. It includes income of both 1. It include income of only
public and private sectors. private sector.
2. It does not include transfer 2. It includes both factor
earnings. income and transfer
3. Interest on national debt is earnings.
not a part of national 3. Interest on national debt is
income. a part of National Income
mRrj %& jk"Vªh; vk; ,oa futh vk; esa varj &
jk"Vªh; vk; futh vk;

1- blessa lkoZtfud ,oa futh nksuksa 1- blessa dsoy futh {ks= dh vk;
{ks=ksa dh vk; lfEefyr gksrh gSA lfEefyr gksrh gSA
2- blesa gLrkarj.k vk; 'kkfey ugha 2- blesa lk/ku vk; ,oa gLrkarj.k
gksrk gS vk; nksuksa 'kkfey gksrh gS
3- jk"Vªh; _.k ij C;kt jk"Vªh; vk; 3- jk"Vªh; _.k ij C;kt futh vk;
dk Hkkx ugha gksrk gSA dk Hkkx gksrk gSA
Q. 7 What is consumption and consumption function?
miHkksx ,oa miHkksx Qyu D;k gS\

302
Ans:- Consumption- That part of income in the economy which is

spent on goods and services is called ‘consumption’and
which is not consumed becomes ‘savings’.
The addition of Consumption (C) and Saving (S) is called ‘
income’.
Income = Consumption + Saving
Y = C + S
Consumption Function – According to Keynes consumption
expenditure is an economy depends on income or ‘
consumption is a function of income’.
C = f (Y)
Thus, relation between consumption and income is called
consumption function.
Consumption function tells that consumption expenditure
directly increases with increase in income but increase in
consumption is less than increase in income i.e. consumption
does not increase at the same rate as income does. Keynes
named this consumption tendency as ‘psychological law of
consuption’.
mRrj %& miHkksx & vFkZO;oLFkk esa vk; dk og Hkkx ftls oLrqvksa o lsokvksa ij O;;
fd;k tkrk gS] mls dqy miHkksx O;; ;k miHkksx dgrs gSa vkSj ftldk miHkksx
ugha fd;k tkrk] mls cpr dgrs gSaA miHkksx (C) ,oa cpr (S) ds tksM- dks
vk; dgrs gSaA vr%
vk; ¾ miHkksx $ cpr
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Y= C + S
miHkksx Qyu & dhUl ds fopkj esa fdlh vFkZO;oLFkk dk dqy miHkksx O;;
eq[; :I ls vk; ij fuHkZj djrk gS vFkok ;g dgk tk ldrk gS fd miHkksx]
vk; dk Qyu gS vFkkZr~
C = f (Y)
bls i<-k tk,xk “miHkksx (C) vk; (Y) dk Qyu (d) gSA” bl izdkj ] miHkksx
,oa vk; dk laca/k miHkksx Qyu dgykrk gSA
miHkksx Qyu crkrk gS fd vk; ds Lrj esa o`f) gksus ij miHkksx esa
izR;{k o`f) gksrh gS ysfdu vk; ds mrjksRrj c<-us ij miHkksx O;; dh o`f)
vk; dh o`f) ls de gksrh gSA miHkksx dh bl izo`fr dks dhUl us miHkksx dk
euksoSKkfud fu;e dk uke fn;k gSA
Q. 8 Explain the difference between progeressive tax and

proportional tax.
izxfr'khy dj rFkk vkuqikfrd dj esa Hksn Li"V dhft,A
Ans:- Progressive Tax – A progressive Tax is tax in which the tax rate
increases as the taxable amount increases. The term ‘
Progressive’refers to the way the tax rate progressives from
low to high, with the result that a tax payer’s average tax
rate is less than the person’s marginal tax rate. In India
income tax is a progressive tax.
Proportional Tax – A Proportional Tax is a tax imposed so that
the tax rate is fixed, with no change as the taxable base
amount increases or decreases. The amount of the tax is in
304
proportion to the amount subject to taxation. For example if

the rate of income tax remains 20% whatever the size of
income is, it will be a proportional tax.
mRrj %& izxfr’khy dj & tc dj dh njsa vk; c<-us ds lkFk c<-rh gS rks bUgsa
izxfr’khy dj dgk tkrk gSA izxfr’khy dj esa de vk; Lrj ij de nj ls
rFkk vf/kd vk; Lrj ij vf/kd nj ls dj vkjksfir fd;k tkrk gSA mnkgj.k
ds fy,] Hkkjr esa lHkh O;fDr ftudh vk; :i;k 1 yk[k rd gS] vk;dj ls
eqDr gSaA blds i'pkr~ vk; c<-rh tkrh gS] vk; esa o`f) ds lkFk dj Hkh c<-rk
tkrk gSA
vkuqikfrd dj & tc lHkh vk; Lrjksa ij dj ,d gh nj ls yxk;k tkrk gS
rks bUgsa vkuqikfrd dj dgrs gSa vFkkZr pkgs vk; ?kVs ;k c<-s ijUrq dj dh nj
,d leku jgrh gSA bl izdkj vkuqikfrd dj dh nj fu/kZu O;fDr;ksa ,oa /kuh
O;fDr;ksa ds fy, ,d leku gksrh gSA mnkgj.k ds fy,] ;fn vk; dh nj 15%
gS rks vk; ds fdlh Hkh vkdkj vFkok dj vk/kkj ij blh vuqikr ls dj izkIr
fd;s tk,¡xsA
Q. 9 What are the important features of capital account ?
iw¡th [kkrs dh egRoiw.kZ fo’ks"krk,¡ D;k gS\
Ans:- Important features of capital accounts :-

1. All capital transaction causing flow of foreign exchange into
the country are recorded as positive items in the capital
account of BOP e.g., loans from rest of the world or direct
investment by the none resident in our country.
2. All capital transaction causing flow of foreign exchange out
of the country are recorded as negative items in the capital
account of BOP e.g., purchase of firm by TATA in rest of the
305
world.
3. The net value of balances on account of (a) Direct
investment and (b) Portfolio investment is recorded as
balance on capital account.
mRrj %& iw¡th [kkrs dh egRoiw.kZ fo’ks"krk,¡ &
1- os lHkh iw¡thxr lkSns ftuds dkj.k fons’kh eqnzk dk izokg ns’k esa gksrk gS]
mUgsa Hkqxrku larqyu ds iw¡th [kkrs esa /kukRed ¼$½ enksa ds :i esa fy[kk
tkrk gSA mnkgj.k ds fy;s] xSj &fuokfl;ksa }kjk Hkkjr esa izR;{k fofu;ksx
vFkok 'ks"k fo’o ls _.kA
2- os lHkh iw¡thxr lkSns ftuds dkj.k fons’kh eqnzk dk izokg ns’k ls ckgj tkrk
gS] mUgsa Hkqxrku larqyu ds iw¡th [kkrs esa _ukRed ¼&½ enksa ds :i esa
fy[krs gSaA tSls& VkVk dEiuh }kjk fons’k esa fdlh QeZ dks [kjhnukA
3- ¼1½ izR;{k fofu;ksx rFkk ¼2½ iksVZQksfy;ks fofu;ksx ds 'kq) eqY; dks iw¡th
[kkrs ds 'ks"k esa fy[kk tkrk gSA
Q. 10 What is meant by foreign exchange market ? Explain it’s
main functions.
fons'kh fofue; cktkj ls D;k vfHkizk; gS\ blds izeq[k dk;Z crkb,A
Ans:- Foreign Exchange Market - Foreign Exchange Market refers to
the market of trading for different currencies of the world.
Buyers and sellers in foreign exchange market wish to buy
foreign exchange and sell foreign exchange.
Function of Foreign Exchange Market - Foreign Exchange
Market perform the following functions –
1- Transfer function – It implies transfer of purchasing power
in terms of foreign exchange across different countries of
306
the world.
2- Credit function – It implies provison of credit in terms of
foreign exchange for the export and import of the goods
and services across different countries of the world.
3- Hedging function – It implies protection against the risk
related to variations in foreign exchange rate. Demand for
and supply of foreign exchange is committed at some
commonly agreed rate of exchange even when the
commitments are to be honoured on some future date.
mRrj %& fons’kh fofue; dk cktkj & fons’kh fofue; cktkj og cktkj gS ftlesa fo’o ds
fofHkUu ns’kksa dh jk"Vªh; eqnzkvksa dk Ø; ;k foØ; fd;k tkrk gSA bl izdkj
;g fons’kh eqnzk dh [kjhn o fcØh dk ,d laLFkkxr izca/k dk LFkku gSA
fu;kZrdrkZ fons’kkh eqnzkvksa dh fcØh djrs gSa] tcfd vk;krdrkZ budh [kjhnkjh
djrs gSaA
fons’kh fofue; cktkj ds dk;Z & fons’kh eqnzk cktkj ds fuEufyf[kr dk;Z gSa %&
1- gLrkarj.k dk;Z & blls vk’k; fofHkUu ns’kksa ds chp Ø;&'kfDr ds
gLrkarj.k ls gSA mnkgj.k ds fy,] ;fn Hkkjr dk vk;krdrkZ baXySaM dh
fdlh dEiuh ls vk;kr djuk pkgrk gS ftlds fy, vkidks ik¡p lkS ikS.M
dh vko’;drk gS bl fLFkfr esa vk;krdrkZ fons’kh fofue; cktkj ls ik¡p
lkS MkWyj [kjhn dj baXySaM dh dEiuh dks mlds eky dk Hkqxrku dj
ldrk gSA
2- lk[k ;k _.k laca/kh dk;Z & ?kjsyq O;kikj dh rjg fons’kh O;kikj ds fy,
Hkh lk[k vFkok _.k dh vko’;drk gksrh gSA fons’kh fofue; cktkj fons’kh
O;kikj ds lkSns ds fy, _.k iznku djuk iM-rk gSA
3- tksf[ke ls cpko laca/kh dk;Z & bldk vfHkizk; gS fons’kh fofue; nj esa
gksus okys mrkj&p<-ko ds tksf[ke ls lqj{kk djukA ;g cktkj tksf[ke ls
307
lqj{kk iznku djus ds fy, gkftj ¼pkyw½ ,oa ok;nk [kjhn&fcØh dh

lqfo/kk,¡ iznku djrk gSA
308
Long Answer Type Questions :

nh?kZ mÙkjh; iz’u
5x6=
30
fu/Zkkfjr gS A
question
carries 6 marks.
Q. 11 Explain the total expenditure method of measuring elasticity

of demand.
Ekk¡x dh yksp dks ekius dh dqy O;; fof/k dk o.kZu dhft,A
Ans:- This method was propounded by Prof. Marshall. In this

method, amount of change and directin of change in total
expenditure are determined as a result of change in price of
commodity.
Total expenditure = Commodity Price x Commodity demand
Only three degrees of the elasticity of demand can be

calculated by this method.
309
I. Equal to unit Elasticity – When total expenditure remains

constant due to increase or decrease in price,
elasticity of demand is equal to unity.
II. Greater than Unit Elasticity – When total expenditure

increases due to decrease in price or total expenditure
decreases due to increase in price, elasticity of
demand is greater that unity.
A
e>1
B
e=1
Price
C
e<1
D
Total Expenditure
III. Less Than Unit Elasticity – When total expenditure

decreases due to decrease in price or total
expenditure increases due to increase in price,
elasticity of demand is less than unity.
All the above three conditions have been
represented in given fig.. In fig. elasticity of demand is
greater than unit from point A to point B because total
expenditure is increasing on decline in prices and total
expenditure decreasing on increase in prices. Elasticity
of demand is equal to unit from point B to C because
310
total expenditure remains constant on either

increasing or decreasing the prices.
Elasticity of demand is less that unit from point C to
D because total expenditure decreases on decrease in
price and increases on increase in price of the goods.
mRrj %& bl jhfr dk izfriknu izks0 ek’kZy us fd;kA bl jhfr esa ;g Kkr fd;k tkrk
gS fd oLrq dh dher ifjofrZr gksus ls dqy O;; esa fdruk vkSj fdl fn’kk esa
ifjorZu gqvk gSA
dqy O;; ¾ oLrq dh dher x oLrq dh ek¡x
bl jhfr }kjk ek¡x dh yksp dsoy rhu Jsf.k;ksa dk vkdyu fd;k tk ldrk
gSA
1- bdkbZ ds cjkcj ek¡x yksp & ;fn dher esa o`f) o deh gksus ij Hkh dqy
O;; fLFkj jgrk gS] rc ek¡x dh yksp bdkbZ ds cjkcj gksrh gSA nqljs 'kCnksa
esa dher ifjorZu ds ckn ,oa dher ifjorZu ls iwoZ ds nksuksa O;; jkf’k;k¡
;fn ,d leku gksrh gS] rc ek¡x dh yksp bdkbZ ds cjkcj gksrh gSA
2- bdkbZ ls vf/kd ek¡x yksp & ;fn dher ds ?kVus ij dqy O;; c<-rk gS
vFkok dher ds c<-us ij dqy O;; ?kVrk gS rc ek¡x bdkbZ ls vf/kd
gksxhA nqljs 'kCnksa es]a tc dher ifjorZu ,oa dqy O;; ifjorZu foifjr
fn’kk esa pyrs gSa rc ek¡x dh yksp bdkbZ ds cjkcj gksrh gSA
A
e>1
B
e=1
Price
C
e<1
D
Total Expenditure
3- bdkbZ ls de ek¡x yksp & ;fn dher ds ?kVus ij dqy O;; ?kVrk gS
311
vFkok dher ds c<-us ij dqy O;; c<-rk gS rc ek¡x dh yksp bdkbZ ls

de gksrh gSA nqljs 'kCnksa es]a tc dher ifjorZu ,oa dqy O;; ifjorZu
lnSo ,d gh fn’kk esa pyrs gSa] rc ek¡x dh yksp bdkbZ ls de gksrh gSA
Q. 12 How is profit rate determined ?
ykHk nj dk fu/kkZj.k dSls gksrk gSA
Ans:- According to modern economists, profit is also a price. Like the

commodity price determination, profit is determined with the
demand and supply forces. According to the modern theory of
profit, profit is determined at the point where the demand for
entrepreneurs is equal to the supply of entrepreneur.
Demand for Entrepreneur – Entrepreneur’s demand is
made on the basis of its marginal productivity. Higher the
marginal productivity of entrepreneur more demand of them
will be there. The demand curve for entrepreneur slopes
downward from left to right which shows that Marginal
Revenue Productivity (MRP) of entrepreneurs declines with
increase in their number.
D
Y
Profit rate
O X
Demand for
312
Supply of entrepreneur: - Supply of entrepreneurs depends on

the profit earned in the industry. Higher the rate of profit,
more will be the supply of entrepreneur. Hence profit and
supply of entrepreneurs are directly related and its supply
curve slopes upward from left to right.
Y
S
Profit rate
O X
Supply of entrepreneur
Profit rate determination: Demand and supply equilibrium:

Profit rate is determined by the related forces of demand and
supply of entrepreneurs. Normal rate of profit is determined
at the point where demand for entrepreneurs becomes equal
to their supply.
Y D
S
Profit rate
E
D
SS
O X
Demand and Supply of entrepreneur
313
In fig., DD is entrepreneur’s demand curve and SS is the

supply curve. Both the curves cut each other at point E where
profit rate OP is determined.
mRrj %& vk/kqfud vFkZ’kkfL=;ksa ds vuqlkj ykHk Hkh ,d izdkj dh dher gSA ftl izdkj
fdlh oLrq dh dher dk fu/kkZj.k mldh ek¡x vkSj iwfrZ }kjk gksrk gS] mlh
izdkj ykHk dk fu/kkZj.k lkgfl;ksa ¼m|fe;ks½a dh ek¡x ,oa iwfrZ dh lkisf{kd
'kfDr;ksa }kjk gksrk gSA ;gh fl)kUr ykHk dk vk/kqfud fl)kUr dgykrk gSA
D
Y
Profit rate
O X
Demand for
lkgfl;ksa dh ek¡x &
lkglh dh ek¡x mldh lhekUr mRikndrk ds vk/kkj ij dh tkrh gSA lkglh
dh lhekUr mRikndrk ftruh vf/kd gksrh gS] mruh gh vf/kd mldh ek¡x Hkh
gksrh gSA lkglh dk ek¡x oØ ck;sa ls nk;sa uhps dh vksj fxjrk gqvk gksrk gSA
;g bl ckr dk |ksrd gS fd m|ksx esa tSls&tSls lkgfl;ksa dh la[;k esa o`f)
gksrh tkrh gS] oSl&
s gh&oSls lkglh dh lhekUr vk; mRikndrk ?kV tkrh gSA
Lkgfl;ksa dh iwfrZ & lkgfl;ksa dh iwfrZ eq[;r;k m|ksx ls gksus okys ykHk ij
fuHkZjr jgrh gS m|ksx esa ykHk dh nj ftruh vf/kd gksxh] lkgfl;ksa dh iwfrZ
Hkh mruh gh vf/kd gksxhA bl izdkj ykHk dh nj rFkk lkgfl;ksa dh iwfrZ esa
izR;{k lEcU/k gksrk gSA ;gh dkj.k gS fd lkgfl;ksa dk iwfrZ oØ nk;sa Åij dks
p<-rk gqvk gksrk gSA
314
Y
S
Profit rate
S
O X
Supply of entrepreneur
ykHk nj fu/kkZj.k % ek¡x iwfrZ lkE; &ykHk dk fu/kkZj.k lkgfl;ksa dh ek¡x rFkk
iwfrZ dh 'kfDr;ksa }kjk gksrk gSA ;fn lkgfl;ksa dh iwfrZ dh vis{kk mldh ek¡x
vf/kd gS rks lkekU; ykHk dh ek=k vf/kd gksxhA blds foijhr] ;fn fdlh
O;olk; esa lkgfl;ksa dh ek¡x mldh iwfrZ dh vis{kk de gS rks lkekU; ykHk dh
ek=k de gksxhA oLrqr% lkekU; ykHk dh nj dk fu/kkZj.k ogk¡ ij gksrk gS ftl
fcUnq ij lkgfl;ksa dh ek¡x rFkk iwfrZ cjkcj gks tkrs gSaA ykHk lnSo izfr’kr esa
fu/kkZfjr fd;k tkrk gSA
Y D
S
Profit rate
E
D
SS
O X
Demand and Supply of entrepreneur
fp= esa DD lkgfl;ksa dh ek¡x js[kk gS rFkk SS lkgfl;ksa dh iwfrZ js[kk

gSA nksuksa js[kk,¡ fcUnq E ij ,d&nwljs dks dkVrh gSA vr% E fcUnwq lkgfl;ksa
dh ek¡x o iwfrZ dk lUrqyu fcUnq gS tgkWa ij lkgfl;ksa dh ek¡x o iwfrZ vkil
esa cjkcj gSaA ykHk&nj blh lUrqyu fcUnq ij fu/kkZfjr gksxhA
315
Q. 13 What do you mean by Price Elasticity of demand? How is it

measured?
ek¡x dh dher yksp ls vki D;k le>rs gSa\ bls dSls ekik tkrk gS\
Ans:- According to Marshall, “The elasticity of demand in a market

is great or small according as the amount demanded increases
much of little for a given fall in price or diminishes much or
little for a given rise in price.”
‘Elasticity of demand may be defined as the percentage
change in the quantity demanded of a commodity divided by
the percentage change in price of the commodity’
It is measured by the following methods –
1. Proportionate or Percentage method – According to this
method, for calculating the elasticity of demand,
proportionate or percentage change in demand is divided
by proportionate or percentage change in price.
2. Geometric point method – To calculate elasticity of demand
at any point on the demand curve, a tangent on that point
is drawn.
316
ed = Lower Segment
Y D Upper Segment
Price
D
X
O
B
Quantity
According to this method: ed =
In fig., a tangent AB has been drawn. RB is lower segment

and RA is upper segment.
3. Total Expenditure method – In this method, amount of
change and direction of change in total expenditure are
determined as a result of change in price of commodity.
Total Expenditure = Commodity Price x Commodity
demand.
mRrj %& ek’kZy ds vuqlkj “ek¡x dh yksp dk cktkj esa de ;k vf/kd gksuk bl ckr ij
fuHkZj djrk gS fd oLrq dh dher esa ,d fuf’pr ek=k esa ifjorZu gksus ij
mldh ek¡x esa lkis{k :Ik ls ifjorZu gksus ij mldh ek¡x esa lkis{k :Ik ls
vf/kd o de vuqikr esa ifjorZu gksrk gS”
ek¡x dh yksp 'kCn dk vkl; ek¡x dh dher yksp ls gh fy;k tkrk gSA tc
oLrq dh dher esa ifjorZu gksus ds ifj.kkeLo:Ik ek¡x dh ek=k esa vuqikfrd
ifjorZu dh eki dh tkrh gS rks mls ek¡x dh dher yksp dgrs gSA
ek¡x dh yksp dks fuEufyf[kr jhfr;ksa ls ekik tkrk gS &
1- izfr’kr ;k vkuqikfrd jhfr & bl jhfr ds vuqlkj] ek¡x dh yksp dk
vuqeku yxkus ds fy, ek¡x esa gksus okys vuqikfrd ;k izfr’kr ifjorZu dks
317
dher esa gksus okys vuqikfrd ;k izfr’kr ifjorZu ls Hkkx dj fn;k tkrk
gSA
2- T;kferh; ;k fcUnq jhfr & bl T;kferh; jhfr esa ek¡x oØ ds fdlh fcUnq
ij ek¡x dh yksp Kkr djus ds fy, ml fcUnq ij ,d Li’kZ js[kk [khaph
tkrh gSA
ed = fupyk Hkkx
Y D Åij dk Hkkx
R
Price
X
O
B
Quantity
fp= esa RB fupyk Hkkx rFkk RA Åij dk Hkkx gSA

3- dqy O;; jhfr & bl jhfr esa ;g Kkr fd;k tkrk gS fd oLrq dh dher
ifjofrZr gksus ls dqy O;; esa fdruk vkSj fdl fn’kk esa ifjorZu gqvk gS\
dqy O;; ¾ oLrq dh dher x oLrq dh ek¡x
Q. 14 When is an economy in equilibrium? Explain with the help of

saving and investment functions with diagram.
cpr ,oa fuos’k Qyu dh lgk;rk ls le>kb, fd vFkZO;oLFkk dc
larqyu esa gksrh gS\ js[kkfp= dk iz;ksx dhft,A
Ans:- According to Keynes, income-employment equilibrium is

determined at a point where Saving is equal to investment.
Or
Saving = Investment
318
S = I
An economy has two types of investments:
1. Planned investment 2. Unplanned investment.
The real investment in the economy is the addition of planned
investment and unplanned investment.
It can be concluded from the above equation that real
investment can be equal to planned investment only when
unplanned investment becomes zero. But it does not mean
that real investment and planned investment are always equal
in the economy.
Thus, when we say Y=C+I
We actually mean Y= C+IR
and Y= C+S
Hence, on combining both equations

C+S = C+IR
S = IR
Thus, Savings are always equal to real investment.
319
Y
600 Point of
Saving and Investment

500 Equilibrium S
400
I
300 E I
200 A
X
100 100 200 300 400 500 600
S Income/ Output
-Y
Fig. represents saving investment view point of income

equilibrium. In fig. I I is investment curve and SS is saving
curve. I I is horizontal to X- axis as it represents autonomous
investment. SS curve originates from the point below origin O
which shows that till point A saving is negative. At point A,
saving has become zero and beyond it become positive. Point E
stands as point of equilibrium where I I and SS cut each other.
At this equilibrium point, the determined income level is Rs.
400 crores.
mRrj %& dhUl ds vuqlkj vk;&jkstxkj larqyu fu/kkZj.k ml foUnq ij gksrk gS tgk¡
cpr ,oa fuos’k vkil esa cjkcj gksrs gSA
vFkkZr~ cpr ¾ fuos’k
S = I
,d vFkZO;oLFkk esa fofu;ksx nks izdkj ds gksrs gSa &
1- fu;ksftr fofu;ksx 2- xSj&fu;ksftr fofu;ksx
oLrqr% fu;ksftr vkSj xSj&fu;ksftr fofu;ksx dk tksM- gh okLrfod fofu;ksx
;k dqy fofu;ksx dgykrk gS] la{ksi esa & IR = Ip + Iu
320
tgk¡ IR = okLrfod fofu;ksx] Ip = fu;ksftr fofu;ksx rFkk Iu = xSj&fu;ksftr

fofu;ksxA
mi;qZDr lehdj.k ls ;g fu"d"kZ fudkyk tk ldrk gS fd okLrfod fofu;ksx
dsoy mlh fLFkfr esa gh fu;ksftr fofu;ksx ds cjkcj gks ldrk gS tcfd
xSj&fu;ksftr fofu;ksx 'kwU; gksA bldk rkRi;Z ;g gS fd ;g vko’;d ugha gS
fd ,d vFkZO;oLFkk esa okLrfod fofu;ksx lnSo fu;ksftr fofu;ksx ds cjkcj
gksA
mi;qZDr foospu ds vk/kkj ij ge dg ldrs gSa fd
Y=C+I
rks gekjk okLro esa vfHkizk; ;g gksrk gS fd
Y = C + IR
rFkk Y=C+S
nksuksa lehdj.kksa dks ,d lkFk izLrqr djus ij C+S = C+IR

vr% cprsa lnSo okLrfod fuos’k ds leku gksrh gSaA
Y
600 Point of
Saving and Investment
500 Equilibrium S
400
I
300 E I
200 A
X
100 100 200 300 400 500 600
S Income/ Output
-Y
layXu fp= }kjk cpr&fuos’k n`f"Vdks.k }kjk vk; ds larqyu dks izdV fd;k
x;k gSA layXu fp= esa I I fuos’k oØ gS vkSj SS cpr oØ gSaA fuos’k oØ I I
X - v{k ds lekUrj ,d iM-h js[kk gS D;ksfa d ;g Lok;Rr fuos’k dks izdV dj
jgh gSA SS oØ ewy fcUnq O ds uhps ls vkjEHk gks jgh gS] blls izdV gksrk gS
321
fd fcUnq A rd cpr _.kkRed gS rFkk fcUnq A 'kwU; cpr dks izdV djrk gS]
blds i'pkr~ cpr /kukRed gks x;h gSA fcUnq E lUrqyu fcUnq gS tgkWa fuos’k
oØ I I rFkk cpr oØ SS ,d nqljs dks dkV jgs gSA bl fcUnq ij fu/kkZfjr
vk; Lrj :i;k 400 djksM- gSA
Q. 15 In an economy S= -100+0.6 Y is the saving function, where S is

saving and Y is National Income. If investment expenditure is
1100, calculate :
1- Equilibrium level of National Income.
2- Consumption expenditure at equilibrium level of National
Income.
,d vFkZO;oLFkk esa cpr Qyu S= -100+0.6 Y gS ftlesa S cpr vkSj

Y jk"Vªh; vk; gSA ;fn fuos’k C;; 1100 gS rc fuEufyf[kr dk
ifjdyu dhft,%
1- jk"Vªh; vk; dk larqyu Lrj
2- jk"Vªh; vk; ds larqyu Lrj ij miHkksx O;;
Ans:- I. S=I
-100 + 0.6 Y = 1100
0.6 Y = 1200
Y= = 2000 Ans.
II. Y=C+S
322
C=Y–S
= 2000 – 1100
C = 900 Ans.
323
MODEL PAPER
d{kk &XII
Set – 9
funsZ’k & iz’u la[;k 1 ls 40 rd esa pkj fodYi fn, x, gS] ftuesa ls ,d lgh gS A
lgh fodYi dks pqus ,ao i= esa fpfUgr djsa]

only one
answersheet.
1. 'Micros', which means 'small' belongs to :-

(a) Arabian word (b) Greek word
(c) German word (d) English word
êkbdzkst^ ftldk vFkZ NksVk gksrk gS] fuEu esa ls dkSu lk 'kCn gS ?
(a) vjch (b) xzhd
(c) teZu (d) v¡xzsth
2. Which of the following statement is true ?
(a) Human wants are infinite.
(b) Resources are limited
(c) Scarcity problem gives birth to
choice
(d) All of these
fuEufyf[kr esa ls dkSu lk dFku lR; gS ?
324
(a) euq"; dh vko';drk,Wa vuUr gksrh gS

(b) lk/ku lhfer gksrs gSa
(c) nqyZHkrk dh leL;k p;u dks tUe nsrh gS
(d) mi;qZDr lHkh
3. Which of the following is the salient feature of resources?
(a) These are limited as compared to wants

(b) These have alternative uses.
(c) Both a and b
Lkk/ku dh izeq[k fo'ks"krk,Wa dkSu lh gSa ?
(a) ;g ekuo vko';drkvksa dh rqyuk esa lhfer gS
(b) budk oSdfYid iz;ksx laHko gS
(c) a vkSj b nksuksa
4. To which factor, economic problem is basically related to :-
(a) Choice (b) Consumer Selection
(c) Firm selection (d) None of these
vkfFkZd leL;k ewyr% fdl rF; dh leL;k gS ?
(a) pquko dh (b) miHkksDrk p;u dh
(c) QeZ p;u dh (d) buesa ls dksbZ ugha
5. Who was the Father of Economics?
(a) J.B. Say (b) Malthus
(c) Adam Smith (d) Joan Robinson
vFkZ'kkL= ds tud dkSu Fks ?
(a) ts0 ch0 ls (b) ekYFkl
(c) ,Me fLeFk (d) tkWu jkWfcUlu
6. Consumer's behaviour is studied in :
(a) Microeconomics (b) Macroeconomics
(c) Income Theory (d) None of these
miHkksDrk O;ogkj dk v/;;u fd;k tkrk gS &
(a) lw{e vFkZ'kkL= esa (b) O;kid vFkZ'kkL= esa
325
(c) vk; fl)kar easa (d) buesa ls dksbZ ugha

7. Which is the First law of Gossen ?
(a) Law of Demand (b) Law of diminishing marginal Utility
(c) Law of equi-marginal (d) Consumer's surplus
Utility
xkslus dk izFke fu;e fuEu esa ls dkSu lk gS ?
(a) ekax dk fu;e (b) flekar mi;ksfxrk âkl fu;e
(c) leflekar mi;ksfxrk fu;e (d) miHkksDrk dh cpr
8. Utility can be measured by :
(a) Money (b) Exchange of Goods
(c) Weight of the Goods (d) None of these
mi;ksfxrk dh eki dh tk ldrh gS %

(a) ewnzk ds }kjk (b) oLrqvksa ds fofue; }kjk
(c) cLrq ds otu }kjk (d) buesa ls dksbZ ugha
9. The function of foreign exchange market is :

(a) Transfer function (b) Credit function
(c) Hedgine (d) All of these
fons'kh fofue; cktkj dk dk;Z gS &

(a) gLrkarj.k dk;Z (b) lk[k laca/kh dk;Z
(c) tksf[ke ls cpko laca/kh dk;Z (d) mijksDr lHkh
10. Which one is component of profit ?

(a) Dividend (b) Undistributed profit
(c) Corporate profit tax (d) All of the above
ykHk ds fuEufyf[kr dkSu ls ?kVd gSa ?

326
(a) ykHkka'k (b) vforfjr ykHk
(c) fuxe ykHk dj (d) mi;qZDr lHkh

11. Utility is related to :
(a) Usefulness (b) Morality
(c) Satisfaction of human (d) All of the above

wants
mi;ksfxrk dk laca/k gksrk gS %
(a) ykHknk;drk ls (b) uSfrdrk ls
(c) ekuo vko';drk dh iwfrZ ls (d) buesa ls lHkh

12. The ability of satisfying human want in a goods is called its :
(a) Productivity (b) Satisfaction
(c) Utility (d) Profitability

fdlh oLrq esa ekuoh; vko';drk dh iwfrZ dh {kerk dks dgrs gSa %
(a) mRikndrk (b) larq"Vh
(c) mi;ksfxrk (d) ykHknk;drk

13. With an increase in income, consumer decreases the consumption of
which goods ?
(a) Inferior goods (b) Normal goods
(c) Giffen goods (d) Both (a) and (b)

vk; c<+us ij miHkksDrk fdu oLrqvksa dh ekax ?kVk nsrk gS ?
(a) fuEu dksfV dh oLrq,Wa (b) lkekU; oLrq,Wa
(c) fxfQu oLrq,Wa (d) (a) vkSj (b) nksuksa

14. Elasticity of demand is a :
327
(a) Qualitative statement (b) Quantitative statement
(c) Both (a) and (b) (d) None of the above

ekax dh yksp gS %
(a) xq.kkRed dFku (b) ek=kRed dFku

15. Who propounded the percentage of proportionate method of
measuring elasticity of demand?
(a) Marshall (b) Flux
(c) Hicks (d) None of these

ekax dh yksp ekius ds fy, izfr'kr ;k vkuqikfrd jhfr dk izfriknu fdlus fd;k ?
(a) ek'kZy (b) Q~yDl
(c) ghDl (d) buesa ls dksbZ ugha

16. Which objectives government attempts to obtain by Budget ?
(a) To promote Economic Development
(b) Balance Regional Development
(c) Re-distribution of Income & Wealth
(d) All of the above.

ljdkj ctV ds ek/;e ls fuEufyf[kr esa fdu mn~n's ;ksa dks iwjk djus dk iz;kl
djrh gS ?
(a) vkfFkZd fodkl dk izksRlkgu
(b) larqfyr {ksf=; fodkl
(c) vk; ,oa laifRr dk iwuZforj.k
328
(d) mi;qZDr lHkh

17. With the rise in coffee price the demand of tea :
(a) Rises (b) Falls
(c) Remains stable (d) None of the above

dkWQh ds ewY; esa o`f) ds lkFk pk; dh ekax &
(a) c<+rh gS (b) ?kVrh gS
(c) fLFkj jgrh gS (d) buesa ls dksbZ ugha

18. The basic reason of operating te law of diminishing return is :-
(a) Scarcity of factors
(b) Imperfect substitution between factors

mRifRr âkl fu;e ykxq gksus ds eq[; dkj.k gSa %&
(a) lk/kuksa dh lhferrk
(b) lk/kuksa dk viw.kZ LFkkukiUu
(d) mi;qZDr dksbZ ugha

19. Reasons of decrease in supply is :-
(a) Increase in production cost
(b) Increase in price substitution
(c) Fall in number of firm in the industry

329
iwfrZ esa deh dk dkj.k gS %&

(a) mRiknu ykxr esa o`f)
(b) LFkkukiUu ds ewY; esa deh
(c) m|ksx esa QeZ dh la[;k esa deh
(d) mi;qZDr lHkh
20. Who basically propounded the concept of law of equi-marginal
utility ?
(a) Marshall (b) Gossen
(c) Ricardo (d) Mill
le&flekar mi;ksfxrk fu;e ds ewy izfriknd dkSu Fks ?

(a) ek'kZy (b) xkWlu
(c) fjdkMksZ (d) Fey

21. To which market, following figure belongs ?
AR
MR
O
X
(a) Perfect competition (b) Monopoly

330
(c) Monopolistic (d) None of the above

Competition
layXu fp= fdl cktkj dks iznf'kZr djrk gS ?

Y
AR
MR
O
x
(a) iw.kZ izfr;ksfxrk (b) ,dkf/kdkj
(c) ,dkf/kdkfjd izfr;ksfxrk (d) buesa ls dksbZ ugha

22. Average variable costs can be defined as :
(a) TVC x Q (b) TVC + Q
(c) TVC – Q (d) TVC : Q

vkSlr ifjorZu'khy ykxr gS &
(a) TVC x Q (b) TVC + Q
(c) TVC – Q (d) TVC ÷ Q

23. Supply is associated with :
(a) A Time period (b) Price
iwfrZ fuEufyf[kr esa fdlls tqM+h gksrh gS ?

331
(a) fdlh le; dh vof/k (b) dher
(c) (a) vkSj (b)nksuksa (d) buesa ls dksbZ ugha

24. Determinating factor of supply if goods is :-
(a) Price of goods (b) Price of related goods
(c) Price of factor of (d) All the above.

production
oLrq dh iwfrZ ds fu/kkZjd ?kVd dkSu ls gSa ?
(a) oLrq dh dher (b) lacaf/kr oLrqvkas dh dher
(c) mRiknu lk/kuksa dh dher (d) mi;qZDr lHkh

25. In which market AR= MR ?
(a) Monopoly (b) Monopolistic Competititon
(c) Both (a) and (b) (d) Perfect competition

fdl cktkj esa AR= MR gksrk gS ?
(a) ,dkf/kdkj (b) ,dkf/kdkfjd izfr;ksfxrk
(c) (a) rFkk (b) nksuksa esa (d) iw.kZ izfr;ksfxrk

26. The subject of the study of macroeconomics is :
(a) The principle of national income
(b) The principle of consumer
(c) The priniple of producer
(d) None of these

lef"V vFkZ'kkL= ds v/;;u dk fo"k; gS %
(a) jk"Vªh; vk; dk fl)kar
332
(b) miHkksDrk dk fl)kar

(c) mRiknd dk fl)kar
27. General price level is studied in :-
lkekU; dher Lrj dk v/;;u fd;k tkrk gS %

(a) O;f"Vxr vFkZ'kkL= esa (b) lef"V vFkZ'kkL= esa
(c) (a) rFkk (b) nksuksa esa (d) buesa ls dksbZ ugha
28. Net national income at factor cost is called:
(a) National Income (b) Gross Investment
(c) Domestic Income (d) None of the above

Lkk/ku ykxr ij 'kq) jk"Vªh; mRikn dks dgk tkrk gS &
(a) jk"Vªh; vk; (b) ldy fuos'k
(c) ?kjsyq vk; (d) buesa ls dksbZ ugha

29. If for a country net factor income from abroad is negative then :
(a) GDP < GNP (b) GDP > GNP
(c) GDP ≥ GNP (d) GDP = GNP

;fn fdlh ns'k dh fons'kksa ls izkIr fuoy vk; _.kkRed gS rks %
(a) ldy ?kjsyq mRikn < ldy (b) ldy ?kjsyq mRikn > ldy jk"Vªh; mRikn
jk"Vªh; mRikn
333
(c) ldy ?kjsyq mRikn ≥ ldy (d) ldy ?kjsyq mRikn = ldy jk"Vªh; mRikn
jk"Vªh; mRikn
30. The market value of all final goods and services produced in an
economy over a year is called:
(a) Gross National Product (b) National Income
(c) Gross Domestic Product (d) Net National Product

fdlh vFkZO;oLFkk esa ,d o"kZ ds vUrxZr mRikfnr vafre oLrqvksa rFkk lsokvksa ds cktkj
ewY; dks dgrs gSa %
(a) dqy jk"Vªh; mRiknu (b) jk"Vªh; vk;
(c) dqy ?kjsyq vk; (d) fo'kq) jk"Vªh; mRikn

31. What are the advantage of Barter System?
(a) Simple System (b) More mutual Co-operation
(c) No economic disparities (d) All the above

oLrq&fofue; iz.kkyh ds fuEufyf[kr esa dkSu ls ykHk gSa ?
(a) ljy iz.kkyh (b) vkilh lg;ksx esa o`f)
(c) vkfFkZd vlkekurk,¡ ugha (d) mi;qZDr ugha
32. Which one is included in the primary function of money ?

(a) Medium of exchange (b) Measure of value
(c) Both (a) and (b) (d) Store of value

eqnzk ds izkFkfed dk;Z ds vUrxZr fuEufyf[kr esa fdls 'kkfey fd;k tkrk gS ?
(a) fofue; dk ek/;e (b) ewY; dk ekid
334
(c) (a) vkSj (b) nksuksa (d) ewY; dk lap;

33. What is true for the central bank :-
(a) Apex bank of the country
(b) Ownership of the government
(c) Regulates the entire banking system in the country
(d) All the above
dsUnzh; cSad ds laca/k esa fuEufyf[kr esa dkSu& lk dFku lgh gS ?

(a) dsUnzh; cSad ns'k dk loksZPp cSad gS
(b) dsUnzh; cSad ij ljdkj dk LokfeRo gksrk gS
(c) dsUnzh; cSad ns'k esa cSafdax iz.kkyh dk lapkyu djrk gS
(d) mi;qZDr lHkh
34. Which committee was constituted for suggesting consumer service
improvements in banks ?
(a) Raja Chelliah Committee (b) Goiporia Committee
(c) Verma Committee (d) Chakrabarti Committee

cSadksa esa xzkgd lsok lq/kkj gsrq fuEufyf[kr esa fdl lfefr dh xBu gqvk ?
(a) jktk pyS;k lfefr (b) xkbiksfj;k lfefr
(c) oekZ lfefr (d) pdzorhZ lfefr

35. The full form of ATM is :
(a) Any Time Money (b) All Time Money
(c) Automated Teller (d) Both (a) and (b)

Machine
335
ATM dk iw.kZ :i D;k gS ?

(a) ,uh Vkbe euh (b) vkWy Vkbe euh
(c) vkWVksesVsM Vsyj e'khu (d) (a) rFkk (b) nksuksa
36. Who is the custodian of Indian banking system ?

(a) Reserve bank of India (b) State Bank of India
(c) Unit Trust of India (d) LIC of India

Hkkjrh; cSafdax iz.kkyh dk laj{kd dkSu gS ?
(a) fjtoZ cSad vkWQ bafM;k (b) LVsV cSad vkWQ bafM;k
(c) ;wfuV VªLV vkWQ bafM;k (d) Hkkjrh; thou chek fuxe
37. Who gave the cardinal concept of utility?
(a) Marshall (b) Pigou
(c) Hicks (d) Samuelson

mi;ksfxrk dk x.kokpd fl)kar fuEu esa fdlus izLrqr fd;k ?
(a) ek'kZy (b) ihxw
(c) fgDl (d) lSeqylu

38. Goods, which can alternatively be used are called :
(a) Complementary Goods (b) Substitutes
(c) Comforts (d) None of these

,slh oLrq,Wa ftudk ,d nwljs ds cnys iz;ksx fd;k tkrk gS] dgykrh gS &
(a) iwjd oLrq,Wa (b) LFkkukiUu oLrq,Wa
336
(c) vkjkenk;d oLrq,Wa (d) buesa ls dksbZ ugha

39. Goods discrimination is find in which market ?
(a) Pure competition (b) Perfect competition
(c) Monopoly (d) Monopolistic competition

fdl cktkj esa oLrq foHksn ik;k tkrk gS ?
(a) 'kq) izfr;ksfxrk (b) iw.kZ izfr;ksfxrk
(c) ,dkf/kdkj (d) ,dkf/kdkjkRed izfr;ksfxrk

40. General Price level is studied in :

lkekU; ewY; Lrj dk v/;;u fd;k tkrk gS &
(a) O;f"V vFkZ'kkL= esa (b) lef"V vFkZ'kkL= esa
(c) (a) vkSj (b) nksuksa (d) mi;qZDr esa dksbZ ugha
337
MODEL PAPER
SET- 9
Answers :-
(1) b (2) c (3) c (4) a (5) c
(6) a (7) b (8) a (9) d (10) d
(11) d (12) c (13) c (14) b (15) c
(16) d (17) a (18) c (19) d (20) b
(21) b (22) d (23) c (24) d (25) d
(26) a (27) b (28) a (29) b (30) c
(31) d (32) d (33) d (34) b (35) c
(36) a (37) a (38) b (39) c (40) b
338
MODEL PAPER
d{kk& XII
SET - 9
(y?kq mRrjh; iz'u)
fu/kkfjZr gS A
carries 3
marks.
Q.1 What is meant by consumer ‘equilibrium? State its condition in

case of a single commodity.
miHkksDrk larqyu ls D;k vfHkizk; gS? ,d oLrq dh n’kk esa miHkksDrk larqyu
Li"V dhft,A
Q2. What are the assumptions of the law of Demand?
Ekk¡x ds fu;e dh D;k ekU;rk,Wa gS?a
Q3. Calculate the MR and AR on the basis of quantity sold, price

and total revenue given in the table.
fuEufyf[kr lkj.kh esa fn, fcØh ek=k] dher rFkk dqy vkxe ds vk/kkj ij
MR rFkk AR dh x.kuk dhft,A
339
Quantity Price TR AR MR
Sold
1 9 9
2 8 16
Q4. Show AR and MR curves in a diagram under monopolistic

competition.
,dkf/kdkjh izfr;ksfxrk esa AR rFkk MR odzksa dks js[kkfp= }kjk fn[kkbZ,A
Q5. When does savings become negative?

cpr dc _.kkRed gksrh gS?
Q6. Balance of payments is always in equilibrium. Why?

Hkqxrku 'ks"k lnSo larqfyr jgrk gSA D;ksa?
Q7. What is meant by visible and invisible items in balance of

payment account? Give two examples of invisible items.
Hkqxrku larqyu [kkrs esa n`’; rFkk vn`’; enksa ls D;k vfHkizk; gS?a vn`’; enksa
ds nks mnkgj.k nhft,A
Q8. Explain the features of tax.

dj dh fo’ks"krk,Wa crkbZ,A
Q9. Demand curve in monopolistic competition is more elastic.

Explain.
340
,dkf/kdkjh izfr;ksfxrk esa ekWax oØ vf/kd ykspnkj gksrk gSA Li"V dhft,A
Q10. Who determines the price in the perfect competition-Industry

or firm?
iw.kZ izfr;ksfxrk esa dher fu/kkZj.k dkSu djrk gS& m|ksx ;k QeZ ?

nh?kZ mRrjh; iz’u
fu/kkfjZr gS A
carries
6 marks.
Q11. What is law of Increasing Returns and why does it become

Operational?
mRifRr o`f) fu;e D;k gS rFkk ;g D;ksa ykxw gksrk gS?
Q12. Explain the characteristics of Indifference curves.

mnklhurk & oØksa dh fo’ks"krk,Wa crkbZ,A
Q13. What do you mean by utility? Write the concepts of utility.

mi;ksfxrk ls vki D;k le>rs gSa ? mi;ksfxrk dh vo/kkj.kkvksa dks fy[ksAa
Q14. Explain the importance of circular flow of income.

341
pfØ; vk; izokg dk egRo crkbZ,A
Q15. What is tax? What are its characteristics?

dj D;k gS \ bldh D;k fo’ks"krk,Wa gSa \
342

y?kq mRrjh; iz’u (Short Answer Type Questions.)
funsZ’k & iz’u la[;k 1 ls 10 rd y?kq mRrjh; iz’u gSa rFkk izR;sd ds fy, rhu vad
fu/kkZfjr gSaA
10 x 3 = 30
Instruction :- For questions nos. 1 to 10 are short answer type and each
10 x 3 = 30
____________________________________________________________
_____
Q1. What is meant by consumer’s Equilibrium? State its condition

in case of a single commodity.
miHkksDrk larqyu ls D;k vfHkizk; gS \ ,d oLrq dh n’kk esa miHkksDrk larqyu
Li"V dhft,A
Ans.: A consumer is said to be in equilibrium, when he is spending

his given income on various goods in such a way that
maximises his satisfaction.
Condition of consumers equilibrium in case of a single
commodity: consumers equilibrium in case of a single
commodity is attained when the marginal utility of the
commodity measured in terms of money equal to it’s price
symbolically.
343
MUx = Px
mRrj %& miHkksDrk larqyu& ,d miHkksDrk ml le; larqyu esa gksrk gS] tc og viuh
nh gqbZ vk; rFkk cktkj dherksa ls izkIr larqf"V dks vf/kdRre dj ysrk gSA
nwljs 'kCnksa es]a tc dksbZ miHkksDrk vius O;; djus ds orZeku <ax esa dksbZ
ifjorZu djuk ugha pkgrk rc ;g miHkksDrk larqyu dh n’kk dgh tkrh gSA
,d oLrq ds fy, miHkksDrk larqyu& miHkksDrk larqyu dh fLFkfr rc izkIr
djrk gS] tc :i;k larqf"V eqnzk dh lhekar mi;ksfxrk ds
cjkcj gks tkrh gSA vFkkZr
= Mum
Q2. What are the assumptions of the law of demand?

Ekk¡x ds fu;e dh D;k ekU;rk,Wa gS\a
Ans.: Law of demand is based on following assumption:-

1. Consumer’s income should remain constant.
2. Consumer’s taste, nature etc. should remain constant.
3. Price of related goods should remain constant.
4. Consumer remains unknown with new substitutes.
5. There is no possibility of price change in future.
mRrj %& ek¡x ds fu;e dh fØ;k’khyrk dqN ekU;rkvksa ij vk/kkfjr gSA fuEufyf[kr
ekU;rkvksa ds varxZr gh ek¡x dk fu;e fØ;k’khy gksrk gS&
1- miHkksDrk dh vk; esa dksbZ ifjorZu ugha gksuk pkfg,A
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2- miHkksDrk dh :fp] LoHkko] ilan vkfn esa dksbZ ifjorZu ugha gksuk pkfg,A
3- lacaf/kr oLrqvksa dh dher esa dksbZ ifjorZu ugha gksuk pkfg,A
4- fdlh uohu LFkkukiUu oLrq dk miHkksDrk dks Kku ugha gksuk pkfg,A
5- Hkfo"; esa oLrq dh dher esa ifjorZu dh laHkkouk ugha gksuh pkfg,A
Q3. Calculate the MR and AR on the basis of quantity sold, price
and total revenue given in the table.
fuEufyf[kr lkj.kh esa fn;s fcØh ek=k] dher rFkk dqy vkxe ds vk/kkj ij
MR rFkk AR dh x.kuk dhft,A
Quantity Price TR AR MR
sold
1 9 9
2 8 16
Ans.: (i) AR = Price, so, AR = 9, 8

(ii) MRn = TRn – TRn-1
So, for quantity 1 MR= 9
So, for quantity 2 MR= 16-9 = 7.
Q4. Show AR and MR curves in a diagram under monopolistic
competition.
,dkf/kdkjh izfr;ksfxrk esa AR rFkk MR oØksa dks js[kkfp= }kjk fn[kkb;sA
Ans.: A Demand curve under monopolistic competition is more

elastic and slopes downward from left to right. A demand curve
under monopolistic competition is neither perfectly elastic like
perfect competition nor unit elastic like pure monopoly. The
demand curve under monopolistic competition is less elastic as
345
compared with perfect competition and more elastic as

compared with monopoly.
AR and MR in Monopolistic competition
Y
e>1
Revenue
MR AR
O Output X
mRrj %& ,dkf/kdkjh izfr;ksxh cktkj n’kk esa izfr;ksxh QesZa le:i oLrq,Wa mRikfnr u
djds fudV LFkkukiUu oLrqvksa dk mRiknu djrh gSA ,slh cktkj n’kk esa ,d
QeZ dher ?kVkdj nwljh QeksZa ds xzkgd Nhu ldrh gS vkSj blh izdkj ,d
QeZ }kjk dher c<‐k;s tkus ij xzkgd nwljh vksj pys tk;saxsA ,slh fLFkfr esa
AR vkSj MR js[kk,Wa ck;sa ls nk;sa uhps fxjrh gqbZ gksrh gS rFkk lkFk gh AR
rFkk MR js[kk,Wa ,dkf/kdkjh QeZ dh rqyuk esa piVh gksrh gS] bl fLFkfr dks
fuEu fp= esa iznf’kZr fd;k x;k gSA
AR and MR in Monopolistic competition
Y
e>1
Revenue
MR AR
O Output X
Q5. When does saving become negative?

cpr dc _.kkRed gksrh gS\
346
Ans. :- Negative saving is termed as ‘dis-saving’ which signifies the

situation where consumption (C) exceeds income (Y)
Y
S
C>Y
Propensity
savings
to save
saving
A
O X
Dis-saving Income
As a result, component ‘S’ becomes negative in Y = C + S

Propensity to save has been shown in fig. S shows the
propensity to save curve left to point A, SS curve is negative
because people do not save before income level OA. At point
A, saving is zero (i.e. at point A, income is equal to
consumption) beyond income level OA, saving increases
because people save more with increased income.
347
mRrj %& _.kkRed cpr dks vilap; (dis-saving) dgk tkrk gSA _.kkRed cpr og
voLFkk gS ftlesa miHkksx O;; (C) vk; (Y) ls vf/kd gks tkrk gS vFkkZr
C>Y
ftlds dkj.k Y= C+S esa S dk ?kVd _.kkRed gks tkrk gSA
cpr izo`fr oØ (propensity to save curve) ij /;ku nsa &
Y
S
C>Y
Propensity
savings
to save
saving
A
O X
Dis-saving Income
cpr izo`fr dks fp= }kjk n’kkZ;k x;k gSA fp= esa (SS) oØ cpr izo`fr oØ gSA
cpr Qyu oØ (SS) ds A foUnq ds uhps cpr _.kkRed gS D;ksfa d vk; de
gksus ds dkj.k yksx cpr ugha dj ikrsA A foUnq ij cpr 'kwU; gS vFkkZr O;fDr
dh vk; o miHkksx cjkcj gSaA A foUnq ds mij cpr vk; esa o`f) ds lkFk c<-
rh gSA SS oØ lh/kh js[kk gS D;ksafd vk; vkSj cpr esa o`f) fuf’pr njksa ij gSA
Q6. Balance of payments is always in equilibrium why?

Hkqxrku 'ks"k lnSo larqfyr jgrk gSA D;ksa \
348
Ans.:- Balance of payments of a country is always balanced because

entries in BOP account are done on the basis of credit (or
receipt) and debit (or payment) in dual entry system. After
filling all the entries in the record, total credit and debit become
equal to each other because both the sides are equal in
transaction and recorded in opposite direction that is why,
BOP is always in equilibrium.
mRrj %& ,d ns’k dk Hkqxrku 'ks"k lnSo lUrqyu dh fLFkfr esa gksrk gS D;ksafd bldk
fooj.k cgh [kkrs ds leku nksgjh izfof"V ds ysunkjh rFkk nsunkjh ds vk/kkj ij
fd;k tkrk gSA lkjh izfof"V;ksa dks lgh <ax ls Hkjus ij fooj.k esa dqy
nsunkfj;kWa] dqy nsunkfj;ksa ds cjkcj gksrh gS D;ksafd ysu&nsu ds nksuksa i{k jkf’k
esa cjkcj gksrs gSa vkSj bUgsa fooj.k esa ,d&nwljs ds fo:) fn’kk esa fy[kk tkrk
gSA ;gh dkj.k gS fd ys[ks dh n`f"V ls Hkqxrku 'ks"k lUrqyu esa jgrk gSA
Q7. What is meant by visible and invisible items in balance of

payment account? Give two examples of invisible items.
Hkqxrku lUrqyu [kkrs esa n`’; rFkk vn`’; enksa ls D;k vfHkizk; gS\ vn`’; enksa
ds nks mnkgj.k nhft,A
Ans.:- Visible Items : Exports and Imports of all type of physical

goods is called visible items. For e.g., Tea, Coffee etc.
Invisible Items : Exports and Imports of services is called

invisible items. For example, Shipping, Insurance, Banking etc.
349
mRrj %& n`’; ensa & n`’; enksa esa lHkh izdkj dh HkkSfrd oLrqvksa dk vk;kr ,oa fu;kZr
lfEefyr gksrk gSA bUgsa n`’; en blfy, dgk tkrk gS D;ksafd ;s oLrq,Wa fdlh
inkFkZ ls cuh jgrh gSA
vn`’; ensa & blesa lHkh izdkj dh lsokvksa dk ewY; 'kkfey fd;k tkrk gSA bls
vn`’; ensa blfy, dgrs gSa D;ksfa d ;s lsok,Wa fdlh inkFkZ dh ugha cuh gksrh gSA
mnkgj.k& cSafdax] tgktjkuh
Q8. Explain the features of tax.
dj dh fo’ks"krk,Wa crkb,
Ans.:- Characteristics of Tax :

1. A tax is a compulsory contribution. Everyone has to pay a
tax upon whom it is levied by the State. Refusal to pay a
tax is subject to punishment.
2. It is the duty of the tax payer to pay the tax, if he is liable
to pay it.
3. Revenue received from tax-payers may not be incurred
for their benefit alone, but for the general and common
benefit.
4. Since public expenditure is done for the common benefit
and the benefit may not be in proportion of payment of
tax.
5. A tax may be imposed on an individual or property or
commodities, but it is actually paid by individuals.
6. It is a legal collection.
mRrj %& dj dh fo’ks"krk,Wa fuEuor~ gSa %&
350
1- dj ,d vfuok;Z Hkqxrku gSA

2- dj ls gksuos kyh vk; dk mi;ksx lkekU; gSA
3- ljdkj dj ds cnys essa dksbZ fo’ks"k ykHk ugha iznku djrh gSA
4- ;|fi dj nsrs le; dksbZ O;fDr viuh vk; vFkok iwWath dks dke esa yk
ldrk gS ysfdu var esa dj dk Hkxqrku vk; ds }kjk gh fd;k tkrk gS
D;ksfa d iWwath Hkh rks fiNyh cpr dh gqbZ vk; gksrh gSA
5- dj oLrqvksa vFkok lEifRr ij yxk;k tkrk gS ijUrq bldk Hkqxrku O;fDr
gh djrs gSaA ;g mudk uhft dRrZO; ekuk tkrk gSA
6- djksa esa djnkrk dks R;kx djuk iM-rk gS fdUrq ;g izfrQy jfgr R;kx gSA
dj lsok ykxr 'kwU; ugha gSA
7- djkjksi.k oS/kkfud lRrk ij vk/kkfjr vkSj fu/kkZfjr gksrk gSA
Q9. Demand curve in Monopolistic competition is more elastic.
Explain.
,dkf/kdkjh izfr;ksfxrk esa ek¡x oØ vf/kd ykspnkj gksrk gSA Li"V dhft,A
Ans.:- Demand Curve under monopolistic competition is more elastic

and slopes downward from left to right. A demand curve under
monopolistic competition is neither perfectly elastic like perfect
competition, nor unit elastic like pure monopoly. The demand
curve under monopolistic competition is less elastic as
compared with perfect competition and more elastic as
compared with monopoly (See fig.)
351
Pure Monopoly Monopolistic competition

Y Y
e=0 e >1
MR AR MR AR
O X O X
Y
Perfect
e =0
AR=MR
O X
mRrj %& ,dkf/kdkjh izfr;ksfxrk esa ek¡x oØ vf/kd ykspnkj gksrk gS vkSj ck;sa ls nk;sa
uhps fxjrk gSA ,dkf/kdkjh izfr;ksfxrk esa QeZ dk ek¡x oØ iw.kZ izfr;ksfxrk dh
rjg u rks iw.kZr;k ykspnkj gksrk gS vkSj u gh fo’kq) ,dkf/kdkj dh rjg bdkbZ
ykspnkjA ,dkf/kdkjh izfr;ksfxrk esa izfr;ksfxrk ,oa ,dkf/kdkj nksuksa ?kVdksa ds
lfEefyr gksus ds dkj.k ,dkf/kdkjh izfr;ksfxrk dk ek¡x oØ iw.kZ izfr;ksfxrk
dh rqyuk esa de yksp okyk fdUrq ,dkf/kdkj dh rqyuk esa vf/kd yksp okyk
cu tkrk gSA ¼ns[ksa fuEu fp=½
352
Pure Monopoly
Y
e=0
MR AR
O X
Monopolistic competition
Y
e >1
MR AR
O X
Y
Perfect
e =0
AR=MR
O X
Q10. Who determines the price in the perfect competition- Industry

or firm?
iw.kZ izfr;ksfxrk esa dher fu/kkZj.k dkSu djrk gS& m|ksx ;k QeZ\
Ans.:- In perfect competitive market, price is determined by demand

and supply forces which is termed as 'Price determination by
industry under perfect competition.' i.e., in perfect competition,
price is determined by the industry.
353
In perfect competition, price determined by the industry is

accepted by the every firm.i.e. in perfect competition, every
firm in the industry is price-taker.
In perfect competition, the individual firm may not alter
the price, determined by the industry. Firm can only adjust the
quantity produced at the price taken from the industry.
mRrj %& iw.kZ izfr;ksfxrk esa dksbZ Hkh ,d QeZ vdsys gh cktkj dher ij izHkko ugha Mky
ldrs D;ksafd iwjs m|ksx ds mRiknu dh rqyuk esa bldk viuk mRiknu ux.;
gksrk gS vFkkZr ,d vdsyh QeZ ds mRiknu dh ek=k laiw.kZ m|ksx ds dqy
mRiknu dh ek=k dk ,d cgqr NksVk Hkkx gksrh gSA fdUrq vusd QesZ feydj
cktkj dher ij izHkko Mky ldrh gSA tc cgqr lh QesZ ,d lkFk dqN djrh
gS rks bldk vFkZ ;g gqvk fd iwjk m|ksx dqN dj jgk gSA vr% iw.kZ izfr;ksfxrk
esa m|ksx] dher fu/kkZfjr djrk gS u fd vdsyh QeZA ,d vdsyh QeZ rks
m|ksx }kjk fu/kkZfjr dher dks fn;k gqvk eku ysrh gS vFkkZr~ og dher
xzg.kdrkZ gksrh gSA
354
Set –
nh?kZ mRrjh; iz’u (Long Answer Type Questions.)
funsZ’k & iz’u la[;k 11 ls 15 rd nh?kZ mRrjh; iz’u gSa rFkk izR;sd ds fy, N% vad
fu/kkZfjr gSaA
5 x 6 = 30
Instruction :- For questions nos. 11 to 15 are long answer type and each
5 x 6 = 30
____________________________________________________________
Long Answer Type Questions -

nh?kZ mRrjh; iz’u
Q11. What is Law of Increasing Returns and why does it become

operational?
mRifRr o`f) fu;e D;k gS rFkk ;g D;ksa ykxw gksrk gS \
Ans.:- Law of increasing returns appears in the initial stage of

production. When variable factor is increased on fixed factors
of production, total production increases and it signifies
increasing returns to a factor.
355
Law of increasing returns operates due to organisational

improvement that occur due to increased use of factors of
production. Working efficiency of factors increases and
external as well as internal economies of large scale are
obtained in the production. Consequently, optimum utilisation
of fixed and indivisible factors becomes possible and AP
alongwith MP continues to increase.
Table : Increasing Returns to a factor
Units of Total Average Marginal

variable Factor production production Production
(Labour) (TP) (AP) (MP)
1 4 4 4
2 10 5 6
3 19 6.3 9
4 33 8.25 14
5 51 10.2 18
6 76 12.7 25
Diagrammatic Representation: If table is plotted on graph

paper, then in case of increasing returns to a factor, following
shapes of AP and MP are obtained. It is clear from the figure
that, as production is increased and units of variable factors
356
are increased, AP and MP both start increasing. But increase in

MP is greater as
compared to AP.
Y Increasing Returns to a factor

MP
A
P AP
&
M
O X
Variable Factor
Causes of operation of Increasing Returns to a Factor : There

are following causes of operation of increasing returns to a
factor :
(a) Fixed Factors: Costs of fixed factors is also fixed.

Cost per unit of production decreases with every
increase in production. As a result of it, this law becomes
operative.
(b) Indivisibility of Factors: This reason was pointed out by
Mrs. Joan Robinson. According to Mrs. Robinson, there
are few factors, which can not conveniently be divided
and it becomes necessary to use them in available
quantity ( e.g., big and heavy machines, engines, etc.).
Fixed factors could not be fully utilised in the beginning
357
with lesser units of variable factor. But as the variable

factors continue to increase, fixed factors are optimally
utilised. As a result of it production increases but cost
starts decreasing. In this way indivisibility of factors leads
the operation of the law of increasing returns to a factor.
(c) Better co-ordination between Factors : Till fixed factors
are under utilised, increase in units of variable factor
increases co-ordination between fixed and variable
factors. As a result of it, production increases of a greater
pace.
mRrj %& lk/ku ds c<-rs izfrQy vFkok mRifRr o`f) fu;e (Increasing Returns to
a Factor or Law of Increasing Returns) –mRiknu dh izkjfEHkd voLFkk
esa mRifRr o`f) fu;e ykxw gksrk gSA tc mRifRr ds vf/kdka’k lk/kuksa dks fLFkj
j[k dj ,d lk/ku dh ek=k dks ifjofrZr fd;k tkrk gS] rc mRiknu esa o`f)
gksrh gS] rc bls mRifRr o`f) fu;e dgk tkrk gSA
mRifRr o`f) fu;e dh dk;Z’khyrk dk eq[; dkj.k ;g gS fd lk/kuksa dh
bdkbZ;ksa dk mRrjksRrj iz;ksx djus ls laxBukRed lq/kkj gksrs gSa] lk/kuksa dh
dk;Z{kerk esa o`f) gksrh gS rFkk cM-s iSekus dh vkUrfjd ,oa cká cprssa izkIr
gksrh gS] ftlds QyLo:i fLFkj ,oa vfoHkkT; lk/kuksa dk vuqdwyre iz;ksx
lEHko gksus yxrk gS] ftlds dkj.k lhekUr mRikndrk (MP) rFkk vkSlr
mRikndrk (AP) nksuksa c<-us yxrs gSaA
358
lk/ku ds c<-rs izfrQy

(Increasing Returns to a Factor)
ifjorZu’khy Dqy mRiknu vkSlr mRiknu lhekUr mRiknu
lk/ku dh (TP) (AP) (MP)
bdkbZ ¼Je½
1 4 4 4
2 10 5 6
3 19 6.3 9
4 33 8.25 14
5 51 10.2 18
6 76 12.7 25
fp= }kjk Li"Vhdj.k & mi;qZDr rkfydk dks ;fn xzkQ isij ij [khapk
tk, rks gesa mRifRr o`f) fu;e esa AP rFkk MP dh fp= ds vuqlkj vkd`fr
izkIr gksrh gSA fp= ls Li"V gS fd tSls&tSls mRifRr dk foLrkj fd;k tkrk gS
vkSj ifjorZu’khy lk/ku dh bdkbZ;ksa esa mRrjksRrj o`f) dh tkrh gS] oSl&
s oSls
vkSlr vkSj lhekUr mRiknu nksuksa c<-us yxrs gSaA fdUrq MP esa o`f) dh izo`fr
AP dh o`f) dh rqyuk esa vf/kd rhoz gksrh gSA
Y Long of Increasing Returns

MP
AP
O X
Variable Factor
359
lk/ku ds c<-rs izfrQy dh fdz;k’khyrk ds dkj.k (causes of operation

of Increasing Returns to a Factor)- lk/ku ds c<-rs izfrQy vFkok
mRifRr o`f) fu;e dh fØ;k’khyrk ds dkj.k fuEuor~ gSa %&
¼1½ fLFkj lk/ku (Fixed Factors) – fLFkj lk/kuksa dh ykxrsa Hkh fLFkj gksrh gSaA
ykxr fLFkj gksus ij mRiknu dh o`f) izfr bdkbZ vkSlr ykxr dks de djsxhA
QyLo:I ;g fu;e fØ;k’khy gksrk gSA
¼2½ lk/kuksa dh vfoHkkT;rk (Indivisibility of Factors) – bl fu;e ds
fØ;k’khy gksus ds bl dkj.k dh vksj tkWu jkWfcUlu us /;ku vkd`"V fd;kA
muds vuqlkj dqN mRifRr ds lk/ku bl izdkj dh izd`fr ds gksrs gSa fd mudk
vko’;drkuqlkj foHkktu ugha fd;k tk ldrkA ,sls lk/kuksa dks izkjEHk ls gh
,d fuf’pr ek=k esa iz;ksx djuk iM-rk gSA cM-s midj.k] bUthfu;j vkfn ,sls
mRifRr ds lk/kuksa ds mnkgj.k gSaA izkjEHk esa fLFkj lk/ku ds lkFk de
ifjorZu’khy lk/ku iz;kx fd;s tkus ds dkj.k fLFkj lk/kuksa dk iw.kZ fonksgu
ugha gks ikrk A tSls&tSls ifjorZu’khy lk/ku c<-k;s tkrs gSa] fLFkj lk/ku dk
iw.kZ fonksgu (optimum utilization) gksus ds dkj.k mRiknu esa rsth ls o`f)
gksrh gS rFkk ykxr ?kVus yxrh gSA bl izdkj fLFkj lk/kuksa dh vfoHkkT;rk ds
dkj.k mRifRr o`f) fu;e fØ;k’khy gksrk gSA
¼3½ dkjdksa esa mfpr leUo; (Better co-ordination between the
Factors)- tc rd mRiknu ds fLFkj dkjd dk vYi iz;ksx gksrk gS]
ifjorZu’khy dkjd dh leUo;rk (co-ordination) esa o`f) gksrh gSA blds
QyLo:I dqy mRiknu esa c<-rh gqbZ nj ls o`f) gksrh gSA
Q12. Explain the characteristics of Indifference curves.

mnklhurk&oØksa dh fo’ks"krk,Wa crkb,A
360
Ans. : Characteristics of Indifference curve are as follows :

1. Indifference curve slopes downward from left to right ( i.e.
it has a negative slope)
2. Higher indifference curve shows higher level of satisfaction
and vice-versa.
3. Two indifference curves of the same consumer never cut
each other as different ICs show different levels of
satisfaction.
4. Indifference curve never touches any of the axis.
5. Indifference curve is convex to the origin because MRSxy is
diminishing.
6. Indifference curves need not to be parallel. Indifference
curves of perfect substitutes are parallel.
7. The curvature of the indifference curve shows the degree of
substitute and complementary nature between two goods.
mRrj %& mnklhurk oØksa dh fo’ks"krk,Wa %&

1- mnklhurk odz ck;sa ls nk;sa uhps fxjrk gqvk gksrk gS A ¼vFkkZr mnklhurk
oØ dk <ky _.kkRed gksrk gSA
2- Å¡pk mnklhurk oØ uhps mnklhurk oØ dh rqyuk esa Å¡ps lUrqf"V Lrj
dks crkrk gSA
3- ,d gh miHkksDrk ds nks mnklhurk oØ ,d nwljs dks dHkh ugha dkVrsA
4- mnklhurk oØ dHkh Hkh fdlh v{k dks Li’kZ ugha djrsA
5- mnklhurk oØ ewy foUnq dh vksj mUurksnj gksrk gS D;ksfa d MRSXy ?kVrh
gqbZ gksrh gSA
361
6- mnklhurk oØksa dk lekUrj gksuk vko’;d ugha gSA iw.kZ LFkukiUu oLrqvksa esa
mnklhurk oØ dh oØrk (curvature) nks oLrqvksa ds e/; LFkukiUurk ,oa
iwjdrk ds va’k dks crkrh gS ¼vFkkZr mnklhurk oØ ftruh de oØrk fy,
gq, gksxk] nks oLrqvksa ds chp LFkkukiUu dk va’k mruk gh vf/kd gksxk ½A
Q13. What do you mean by utility? Write the concepts of utility.

mi;ksfxrk ls vki D;k le>rs gSa\ mi;ksfxrk ds vo/kkj.kkvksa dks fy[ksaA
Ans. : Utility means 'Want satisfying power of a commodity or the

capacity of a commodity to satisfy a particular want of
consumer. Every commodity has some inherent want
satisfying capacity. Utility is the relative word. Although liqor is
expensive still demand is there.
In the words of Frazer, “Utility is simply desiredness.”
Even immoral and anti-social acts are of utility to some person.
If the demand for a particular goods greater will be utility
obtained by the consumer with the consumption of that
goods. As consumer continues to consume more units of a
particular goods his intensity of consumption for that goods
decreases.
mRrj %& mi;ksfxrk dk vFkZ gS vko’;drk dh larqf"V&’kfDrA nwljs 'kCnksa esa oLrq esa
fdlh miHkksDrk dh vko’;drk fo’ks"k dh larqf"V dh fufgr {kerk vFkok 'kfDr
dk uke gh mi;ksfxrk gSA
362
izR;sd oLrq esa dksbZ u dksbZ ,slh fo’ks"krk vo’; fufgr jgrh gS ftlds
dkj.k miHkksDrk mldh ek¡x djrk gSA ykHknk;d ,oa gkfudkjd nksuksa gh izdkj
dh oLrqvksa esa mi;ksfxrk gks ldrh gSA ,d oLrq dh mi;ksfxrk lHkh oLrqvksa ds
fy, leku ugha gksrh gSA mi;ksfxrk 'kCn lkisf{kd gSA eknd inkFkZ LokLF; ds
fy, gkfudkjd gksrs gq, Hkh eknd inkFkZ Hkksxh O;fDr ds fy, mi;ksfxrk j[krs
gSaA oLrq ds miHkksx dh bPNk mi;ksfxrk dks tUe nsrh gSA
izks0 Qstj ds 'kCnksa esa ß mi;ksfxrk dsoy bPNk djuk gSAß bl izdkj
vuSfrd dk;Z tSls pksjh] MdSrh vkfn Hkh fdlh O;fDr fo’ks"k dks mi;ksfxrk ns
ldrs gSaA mi;ksfxrk bPNk dh rhozrk dk Qyu gksrh gSA miHkksDrk esa fdlh
oLrq ds izfr miHkksx dh rhozrk ftruh vf/kd gksxh miHkksDrk dks ml oLrq ds
miHkksx ls mruh gh vf/kd mi;ksfxrk izkIr gksxhA tSls&tSls miHkksDrk fdlh
oLrq fo’ks"k dk miHkksx djrk pyk tkrk gSA mlds miHkksx dh bPNk dh rhozrk
de gksrh pyh tkrh gSA
Q14. Explain the importance of circular flow of income.

pØh; vk; izokg dk egRo crkb,A
Ans. : In economic analysis circular flow has a vital role to play.

Salient points showing the importance of circular flow of income
are as follows :
1. It helps in estimation of national income.
2. It gives the knowledge of working of the economy.
3. Equality between savings and investment becomes an
important basis for monetary policy in the economy.
4. Its study also helps in fiscal policy from the economic point of
view.
363
5. Its study helps in analysing the reasons of imbalance in the

economy and making solutions to them.
6. Keynesian Theory of Income and Employment takes important
note of elements associated with flow of money.
7. It also helps in studying the effects on imports and exports in
the economy.
8. This circular flow explains that
Production ≡ Income ≡ Expenditure
This identity becomes basis for the methods of calculating
national income.
mRrj %& vkfFkZd fo’ys"k.k ds n`f"Vdks.k ls pØh; vk; izokg cgqr vf/kd egRoiw.kZ gSA
pØh; vk; izokgksa dk egRo n’kkZus okys izeq[k foUnq fuEu gSa %&
1- jk"Vªh; vk; dk vuqeku & ns’k dh jk"Vªh; vk; dh x.kuk djus esa eqnzk
izokg dk v/;;u cgqr mi;ksxh gSA
2- vFkZO;oLFkk dh dk;Z&iz.kkyh dk Kku & blds }kjk gesa ;g ekywe gks tkrk
gS fd vFkZO;oLFkk lqpk: :Ik ls dk;Z dj jgh gS vFkok ughaA
3- ekSfnzd uhfr dk egRo & pØh; vk; izokg vFkZO;oLFkk esa cpr rFkk
fofu;ksx dh lekurk ykus ds n`f"Vdks.k ls ekSfnzd uhfr ds egRo dks Li"V
djrh gSA
4- jktdks"kh; uhfr dk egRo & pØh; vk; izokgksa ds v/;;u ds }kjk
vFkZO;oLFkk esa larqyu cuk;s j[kus dh n`f"V ls jktdks"kh; uhfr dk egRo
Li"V gks tkrk gSA
5- vlarqyu dh leL;kvksa dk v/;;u & pØh; vk; izokgksa ds }kjk vlarqyu
ds dkj.ksa rFkk mudksa nwj djus ds mik;ksa dk v/;;u fd;k tk ldrk gSA
6- vk; o jkstxkj fl)kUr dk izfriknu & eqnzk izokg rFkk bls izHkkfor djus
364
okys rRoksa dks /;ku esa j[k dj izfl) vFkZ’kkL=h ts0 ,e0 dhUl us vk; o
jkstxkj ds fl)kUr dk izfriknu fd;k gSA ;g fl)kUr lef"V vFkZ’kkL=
dk izeq[k vax gSA
7- vUrZjk"Vªh; O;kikfjd uhfr;ksa dk vk/kkj pØh; vk; izokgksa ds v/;;u ls
;g Kkr gksrk gS fd jk"Vªh; vk; esa ls vk;kr fjlko gS] D;ksafd vk;krksa dk
Hkqxrku vU; ns’kksa dh vk; gSA vk;krksa dks de djus dh n`f"V ls ljdkj
fu;kZr dks izksRlkfgr djus dh uhfr dks viukrh gSA
8- mRiknu] vk; rFkk O;; dh frgjh lekurk& vk; ds pØh; izokg ls Li"V
gks tkrk gS fd mRiknu] vk; rFkk O;; mRiknu izfØ;k ds QyLo:i
mRiUu oLrqvksa rFkk lsokvksa ds ewY; dks izdV djus ds fofHkUu :i gSaA bl
izdkj pfØ; izokg ls Kkr gksrk gS fd & mRiknu ¾ vk; ¾ O;; ;g
lekurk jk"Vªh; vk; ds ekiu dh jhfr;ksa dk vk/kkj gSA
Q15. What is Tax? What are its characteristics?
dj D;k gS\ bldh D;k fo’ks"krk,¡ gSa\
Ans. : Definitions of Tax :
1. According to Dalton, “A tax is a compulsory contribution
imposed by a public authority irrespective of an exact amount
of service rendered to the tax payer in return and not imposed
as a penalty for any legal offence.”
2. According to Byehler, “It is a compulsory contribution,
although it may be paid willingly enough, but it is not a penalty
for legal offences.”
3. According to De Marco, “ The tax is the price which citizen

pays to the State to cover his shares of the cost of the general
public services which will consume.”
365
4. According to Bastable, “Tax is compulsory contribution of the

wealth of a person or body of persons for the service public
power.”
Thus, A tax is a compulsory payment made by a person or
a firm to a government without reference to any benefit, the
payer may derive from the government.
Characteristics of Tax :
1. A tax is a compulsory contribution. Every-one has to pay a
tax upon whom it is levied by the State. Refusal to pay a tax
is subject to punishment.
2. It is the duty of the tax-payer to pay the tax, if he is liable to
pay it.
3. Revenue received from tax payers may not be incurred for
their benefit alone, but for the general and common
benefit.
4. Since public expenditure is done for the common benefit
and the benefit may not be in proportion of payment of tax.
5. A tax may be imposed on an individual or poroperty or
commodities, but it is actually paid by individuals.
6. It is a legal collection.
mRrj %& dj dh ifjHkk"kk,¡ (Definitions of Tax) –

1- MkYVu ds vuqlkj] ßdj yksd lRrk }kjk yxk;k x;k ,d vfuok;Z va’knku
366
gS ftldk dj ds :i esa nh tkus okyh jkf’k ds cnys mruh gh ek=k esa

ykHk izkIr djus ls dksbZ laca/k ugha gS vkSj u gh ;g fdlh xSj&dkuwuh dk;Z
dk tqekZuk gh gSAß
2- izks0 O;wgyj ds vuqlkj] ß dj ,d vfuok;Z va’knku gSA ;|fi bldk
bPNkiwoZd Hkqxrku Hkh fd;k tk ldrk gS ijUrq ;g dkuwuh vijk/kksa dk
n.M ugha gSAß
3- izks0 Mh0 ekdksZ ds vuqlkj] ßdj og ewY; gS tks fd izR;sd ukxfjd ljdkj
dks lkekU; lkoZtfud lsokvksa dh ykxr ds cnys] ftls og miHkksx djsxk]
nsrk gSAß
bl izdkj dj og vko’;d Hkqxrku gS tks ,d O;fDr ;k QeZ }kjk
ljdkj dks fn;k tkrk gSA djnkrk dks ljdkj ls feyus okys ykHk dk
blls dksbZ Hkh laca/k ugha gksrk gSA
dj dh fo’ks"krk,¡ (Characteristic of Tax) –
1- dj ,d vfuok;Z Hkqxrku gSA
2- dj ls gksus okyh vk; dk mi;ksx lkekU; fgr ds fy, fd;k tkrk gSA
3- ljdkj djnkrk dks dj ds cnys esa dksbZ fo’ks"k ykHk ugha iznku djrh gSA
4- ;|fi dj nsrs le; dksbZ O;fDr viuh vk; vFkok iw¡th dks dke esa yk
ldrk gS ysfdu var esa dj dk Hkqxrku vk; ds }kjk gh fd;k tkrk gS]
D;ksfa d iw¡th Hkh rks fiNyh cpr dh gqbZ vk; gksrh gSA
5- dj oLrqvksa vFkok lEifRr ij yxk;k tkrk gS] ijUrq bldk Hkqxrku O;fDr
gh djrs gSaA ;g mudk uhfr dRrZO; ekuk tkrk gSA
6- djksa esa djnkrk dks R;kx djuk iM-rk gS] fdUrq ;g izfrQy jfgr R;kx gS]
dj lsok dk ykxr ewY; ugha gSA
7- djkjksi.k oS/kkfud lRrk ij vk/kkfjr vkSj fu/kkZfjr gksrk gSA
367
MODEL PAPER
d{kk &XII
Set – 10
fodYi dks

only one
answersheet.
1. Who gave the definition of Economics related to welfare?

(a) Adam Smith (b) Marshall
(c) Robbins (d) Samuelson
vFkZ’kkL= dh dY;k.k laca/kh ifjHkk"kk ds tUenkrk Fks&
(a) ,Me fLeFk (b) ek’kZy
(c) jkWfcUl (d) lsE;qylu
2. Production possibility curve is -
(a) Concave to the axis.
(b) Convex to the axis.
(c) Parallel to the axis.
(d) Vertical to the axis
mRiknu lEHkkouk oØ %
368
(a) v{k dh vksj urksnj gksrh gS

(b) v{k dh vksj mUurksnj gksrh gS
(c) v{k dh vksj lekukUrj gksrh gS
(d) v{k dh vksj yEcor~ gksrh gS
3. Which of the following is characteristic of utility ?
(a) Utility is psychological phenomenon
(b) Utility is subjective
(c) Utility is relative concept
(d) All of these
mi;ksfxrk dh fuEu esa dkSu lh fo'ks"krk,Wa gSa ?
(a) mi;ksfxrk ,d euksoSKkfud /kkj.kk gS
(b) mi;ksfxrk O;fDrijd gksrh gS
(c) mi;ksfxrk dk fopkj lkisf{kd gS
(d) buesa ls lHkh
4. How we calculate marginal utility?
(a) (b)
(c) (d)
lhekUr mi;ksfxrk dSls fudkyrs gSa \

(a) (b)
(c) (d)
5. Indifference curve slops :

(a) From Right to Left (b) From Left to Right
rVLFkrk oØ dk >qdko gksrk gS &
(a) nk;sa ls ck;sa (b) ck;sa ls nk;sa
(c) (a) rFkk (b) nksuksa (d) buesa ls dksbZ ugha
369
6. With the rise in coffee price, the demand of tea -

(a) Rises (b) Falls
(c) Remains stable (d) None of the above
dkWQh ds ewY; esa o`f) gksus ls pk; dh ekax &
(a) c<-rh gS (b) ?kVrh gS
(c) fLFkj jgrh gS (d) buesa esa ls dksbZ ugha
7. Contraction in demand appears, when :
(a) Price rises and demand (b) Price rises and demand also rises
falls
(c) Price remains stable and (d) Price falls but demand remains
demand falls stable.
ek¡x esa ladqpu rc gksrk gS tc %
(a) dher c<-rh gS vkSj ek¡x ?kVrh (b) dher c<-rh gS vkSj ek¡x Hkh c<-rh gS
gS
(c) dher fLFkj jgrh gS vkSj (d) dher ?kVrh gS ysfdu ek¡x fLFkj jgrh gS
ek¡x ?kVrh gS
8. Law of demand is a :
(a) Qualitative statement (b) Quantitative statement
ek¡x dk fu;e gS %
(a) xq.kkRed dFku (b) Ekk=kRed dFku
(c) (a) ,oa (b) nksuksa (d) buesa ls dksbZ ugha
9. When change in the price of goods- X affects the demand of goods

Y, this demand is called:
(a) Price demand (b) Income demand
(c) Cross demand (d) All of these

370
tc X oLrq dh dher dk ifjorZu Y oLrq dh ek¡x dks izHkkfor djrk gS] rc ;g

ek¡x dgykrh gS%
(a) dher ek¡x (b) vk; ek¡x
(c) rhjNh ek¡x (d) ;s lHkh
10. Which is a reason of change in demand

(a) Change in consumer’s (b) Change in price of related goods
income
(c) Population increase (d) All of these

ek¡x esa ifjorZu dk dkSu lk dkj.k gS \
(a) miHkksDrk dh vk; esa ifjorZu (b) lacaf/kr oLrqvksa dh dher esa ifjorZu
(c) tula[;k o`f) (d) buesa ls lHkh
11. The basic reason of operating law of diminishing returns is :

(a) Scarcity of factors (b) Imperfect substitution between
factors

mRifRr âkl fu;e ykxw gksus dk eq[; dkj.k dkSu lk gS \
(a) lk/kuksa dh lhferrk (b) lk/kuksa dk viw.kZ LFkkukiUu gksuk
12. M R is shown as:

(a) (b)
(c) (d) None of the above

371
M R iznf’kZr fd;k tkrk gS %

(a) (b)
(c) (d) buesa ls dksbZ ugha
13. Which factors are used in short-run production process?
(a) Fixed factors (b) Variable factors
vYidky esa mRiknu izfØ;k esa fuEufyf[kr esa dkSu ls lk/ku gksrs gSa\
(a) fLFkj lk/ku (b) ifjorZu’khy lk/ku
14. In final equilibrium of firm :
(a) MC cuts MR from above (b) MC cuts MR from below
(c) Both (a) and (b) are true (d) None of the above is true
vafre larqyu n’kk esa %

372
(a) MC oØ MR dks mij ls (b) MC oØ MR dks uhps ls dkVrk gS

dkVrk gS
(c) mi;qZDr nksuksa (a) ,oa (b) lR; (d) lHkh vlR;
15. Which is a basis for the classification of the market ?
(a) Perfect competition (b) Zero competition
(c) Imperfect competition (d) All of the above.
cktkj oxhZdj.k dk fuEufyf[kr esa dkSu lk vk/kkj gS\
(a) iw.kZ izfr;ksfxrk (b) 'kwU; izfr;ksfxrk
(c) viw.kZ izfr;ksfxrk (d) buesa ls lHkh
16. Which factor determines equilibrium price?

(a) Demand for commodity (b) Supply of commodity
larqyu dher ds fu/kkZjd ?kVd fuEufyf[kr esa dkSu ls gSa\
(a) oLrq dh ek¡x (b) oLrq dh iwfrZ

373
17. What does a monopolist market show ?
(a) Production process
(b) Distribution System
(c) Nature of market
(d) None of these

,dkf/kdkj cktkj fdls n’kkZrk gS ?
(a) mRiknu izfØ;k
(b) forj.k iz.kkyh
(c) cktkj izo`fr
18. Price of goods determined where :
(a) Demand > Supply (b) Demand < Supply
(c) Demand = Supply (d) None of the above

cktkj esa oLrq dh dher ml foUnw ij fu/kkZfjr gksrh gS] tgkWa &
(a) oLrq dh ekax > oLrq dh iwfrZ (b) oLrq dh ekax < oLrq dh iwfrZ
(c) oLrq dh ekax = oLrq dh iwfrZ (d) buesa ls dksbZ ugha
19. Employment theory is related to :

374
(a) Static economics
(b) Micro economics
(c) Macro economics

jkstxkj fl)kUr dk laca/k gS %
(a) LFkSfrd vFkZ’kkL= ls

(b) O;f"V vFkZ’kkL= ls
(c) Lef"V vFkZ’kkL= ls
20. Increase in stock of capital is known as :
(a) Capital Loss
(b) Capital Profit
(c) Capital formation

iw¡th ds LVkWd dh o`f) dgykrh gS %
(a) iw¡th âkl

(b) iw¡th ykHk
(c) iw¡th fuekZ.k
(d) mi;qZDr esa ls dksbZ ugha
375
21. Which is the equilibrium condition of circular flow in four sector

model ?
(a) C + I (b) C + I + G
(c) C + I + G + (X-M) (d) None of the above
pkj {ksf=; vFkZO;oLFkk ds pfØ; izokg esa larqyu ds fy, 'krsZa fuEufyf[kr esa dkSu lh
gS?
(a) C + I (b) C + I + G
(c) C + I + G + (X-M) (d) buesa ls dksbZ ugha
22. Which one is true ?
(a) GNP = GDP + (b) NNP = GNP + Depreciation

Depreciation
(c) NNP = GNP- (d) GNP = NNP-Depreciation

Depreciation
D;k lR; gS ?
(a) GNP = GDP +?khlkoV (b) NNP = GNP +?khlkoV
(c) NNP = GNP-?khlkoV (d) GNP = NNP-?khlkoV
23. Which sector is included in an economy ?

376
(a) Primary (b) Secondary
(c) Tertiary (d) All the above
,d vFkZO;oLFkk esa dkSu lk {ks= lfEefyr jgrk gS\
(a) izkFkfed (b) f}rh;d
(c) r`rh;d (d) ;s lHkh
24. Which of the following is not flow?
(a) Capital (b) Income
(c) Investment (d) Depreciation

fuEufyf[kr esa dkSu lk izokg ugha gS\
(a) iw¡th (b) vk;
(c) fuos'k (d) ewY; âkl
25. Which one is included in primary sector?
(a) Land (b) Forest
(c) Mining (d) All these

izkFkfed {ks= esa fuEufyf[kr esa dkSu 'kkfey gS ?
377
(a) Hkwfe (b) Ou
(c) [kuu (d) mi;qZDr lHkh
26. The functions of money is :
(a) Medium of exchange (b) Measure of value
(c) Store of value (d) All of the above
eqnzk dk dk;Z gS %
(a) fofue; dk ek/;e (b) ewY; dk ekid
(c) ewY; dk lap; (d) buesa ;s lHkh
27. Deposites accepted by the commercial banks:
(a) Current deposits
(b) Saving deposits
(c) Time deposits
O;kikfjd cSadksa }kjk Lohdkj dh tkus okyh izeq[k tek,¡ dkSu&lh gS\
378
(a) pkyw tek

(b) cpr tek
(c) Lkkof/k tek
(d) mi;qZDr lHkh
28. Credit multiplier is :
(a) (b) Cash x
(c) Cash x CRR (d) None of the above

Lkk[k xq.kd gksrk gS %
(a) (b) udn x
(c) udn x CRR (d) buesa ls dksbZ ugha
29. Which type of currency is issued by the Central Bank?

(a) Currency (b) Credit Money
(c) Coins (d) All the above

dsUnzh; cSad }kjk dkSu&lh eqnzk tkjh dh tkrh gS\
(a) pyu eqnzk (b) lk[k eqnzk
(c) flDds (d) buesa ls lHkh

30. APC + APS = ?
(a) 0 (b) 1
379
(c) (d) None of these
APC + APS = ?
(a) 0 (b) 1
(c) vuUr (d) buesa ls dksbZ ugha
31. With increase in investment, MEC:

(a) Rises (b) Falls
(c) Remains constant (d) None of the above

fofu;ksx dh ek=k esa o`f) gksus ds lkFk&lkFk MEC :
(a) c<-rh jgrh gS (b) ?kVrh tkrh gS
(c) fLFkj jgrh gS (d) buesa ls dksbZ ugha
32. Which one is true ?
(a) MPC + MPS = 0 (b) MPC + MPS < 1
(c) MPC + MPS = 1 (d) MPC + MPS > 1
dkSu lk dFku lR; gS \
(a) MPC + MPS = 0 (b) MPC + MPS < 1

380
(c) MPC + MPS = 1 (d) MPC + MPS > 1
33. Keynes theory is associated with :
(a) Effective demand (b) Propensity to consume
(c) Propensity to save (d) All the above
dhUl ds fl)kar dk lEcU/k gS %
(a) izHkkoiw.kZ ek¡x izo`fr ls (b) miHkksx izo`fr ls
(c) cpr izo`fr ls (d) buesa ls lHkh
34. Which is included in the Direct Tax ?

(a) Income Tax
(b) Gift Tax
(d) Excise Duty
izR;{k dj ds vUrxZr fuEufyf[kr esa fdls 'kfey fd;k tkrk gS ?

(a) vk; dj
(b) migkj dj
381
(d) mRikn dj
35. Which of the following is an Indirect Tax?
(a) Excise Duty (b) Sales Tax
(c) Custom Duty (d) All of the above
fuEufyf[kr esa ls dkSu vizR;{k dj gS?
(a) mRikn 'kqYd (b) fcØh dj
(c) lhek 'kqYd (d) buesa ls lHkh
36. Which of the following is not a revenue receipt ?
(a) Recovery of loans (b) Foreign Grants
(c) Profits of Public (d) Wealth Tax

Enterprise
fuEufyf[kr esa ls dkSu&lh jktLo izkfIr ugha gS ?
(a) _.kksa dh olwyh (b) fons'kh vuqnku
(c) lkoZtfud miØeksa ls ykHk (d) lEifRr dj

382
37. Which items are included in Balance of payments ?
(a) Visible Items (b) Invisible Items
(c) Capital Transfers (d) All the above
Hkqxrku 'ks"k ds vUrxZr fuEufyf[kr esa dkSu lh ensa lfEefyr gksrh gSa?
(a) n`’; ensa (b) vn`’; ensa
(c) iw¡th vUrj.k (d) buesa ls lHkh
38. Which one is the item of Current Account ?
(a) Import of visible items (b) Expenses of tourists
(c) Export of visible items (d) All of the above
pkyw [kkrs dh fuEufyf[kr esa dkSu&lh ensa gSa?
(a) n`’; enksa dk vk;kr (b) i;ZVdksa dk [kpZ
(c) n`’; enksa dk fu;kZr (d) mi;qZDr lHkh
39. Balance of Trade means :
(a) Capital Transaction (b) Import & Export of goods

383
(c) Total debit and credit (d) All the above
O;kikj larqyu dk vFkZ gksrk gS &
(a) iw¡th ds ysu&nsu ls (b) oLrqvksa ds vk;kr ,oa fu;kZr ls
(c) dqy ØsfMV rFkk MsfoV ls (d) buesa ls lHkh
40. By exchange rate, we mean -
(a) How much Local (b) How much of a foreign currency

Currency we have to pay we have to pay for another foreign
for a foreign currency currency
(c) The rate at which foreign (d) All of these

currency is bought and
sold
fofue; nj dk vFkZ gS &

(a) ,d fons’kh eqnzk ds fy, fdruh (b) ,d fons’kh eqnzk ds fy, fdruh nwljh fons’kh
ns’kh eqnzk nsuh gksxh eqnzk nsuh gksxh
(c) fons'kh eqnzk dh [kjhn&fcØh nj (d) buesa ls lHkh

384
MODEL PAPER
SET- 10
Answers :-
(1) b (2) a (3) d (4) a (5) b

(6) a (7) a (8) a (9) d (10) d
(11) c (12) a (13) c (14) b (15) d
(16) c (17) c (18) c (19) c (20) c
(21) c (22) c (23) d (24) a (25) d
(26) d (27) d (28) a (29) a (30) b
(31) b (32) c (33) d (34) c (35) d
(36) a (37) d (38) d (39) b (40) d
385
MODEL PAPER
d{kk & XII
SET - 10
(y?kq mRrjh; iz'u)
fu/kkfjZr gS A
carries 3
marks.
Q. 1 What is meant by problem, ‘How to produce’?

ß dSls mRiknu fd;k tk, ß dh leL;k ls D;k vfHkizk; gS\
Q. 2 Suppose there are 20 consumers for a goods and they have

identical demand functions : d(P) = 10-3P for any price less
than or equal to 10/3 and d1 (P) = 0 is the market demand
function?
Ekku yhft,] oLrq ds fy, 20 miHkksDrk gSa rFkk muds ek¡x Qyu ,d tSls gSa
& d(P) = 10-3P fdlh ,slh dher ds fy, tks ls de gks vFkok cjkcj
gks rFkk d1 (P)=0 fdlh ,slh dher ij ls vf/kd gSA cktkj ek¡x Qyu
D;k gS\
386
Q. 3 Distinguish between contraction of demand and Decrease in

Demand.
ek¡x ds ldqpu ,oa ek¡x esa deh esa vUrj Li"V dhft,A
Q. 4 Explain in brief the Law of variable Proportion.
ifjorZu’khy vuqikr ds fu;e dks la{ksi esa le>kb,A
Q. 5 What is Net National Product?
'kq) jk"Vªh; mRikn D;k gS\
Q. 6 Explain the difficulties of credit control.
lk[k fu;a=.k dh dfBukbZ;kWa crkb,A
Q. 7 Explain the process of multiplier.
xq.kd izfØ;k le>kb,A
Q. 8 Explain the characteristics of Budget in a planned economy.
fu;ksftr vFkZO;oLFkk ls ctV dh fo’ks"krk,¡ crkb,A

387
Q. 9 Distinguish between balance of trade and Balance of

payments.
O;kikj 'ks"k ,oa Hkqxrku 'ks"k esa vUrj dhft,A
Q. 10 Explain four sources each for demand and supply of foreign

exchange.
fons'kh fofue; dh ek¡x rFkk iwfrZ ds pkj&pkj L=ksr crkb,A

nh?kZ mRrjh; iz’u
fu/kkfjZr gS A
carries
6 marks.
Q. 11 Explain consumers Equilibrium in indifference curve Analysis.
mnklhurk oØ fo’ys"k.k esa miHkksDrk lUrqyu Li"V dhft,A
Q. 12 Explain the change in equilibrium increase appears only due to

change in aggregate demand.
388
Li"V dhft, dh lUrqyu vk; esa ifjorZu dsoy lkewfgd ek¡x esa ifjorZu ds
dkj.k gksrk gSA
Q. 13 What do you understand by the concept of full employment?
iw.kZ jkstxkj dh vo/kkj.kk ls vki D;k le>rs gSa\
Q. 14 What is flexible exchange rate? What are its merits and

demerits?
ykspiw.kZ fofue; nj D;k gS\ blds xq.k&nks"k D;k gSa\
Q. 15 Distinguish between Perfect Competition and Monopoly.
iw.kZ izfr;ksfxrk vkSj ,dkf/kdkj esa vUrj fyf[k,A

389
MODEL PAPER
d{kk &XII
Set – 10
y?kq mRrjh; iz’u (Short Answer Type Questions.)
funsZ’k & iz’u la[;k 1 ls 10 rd y?kq mRrjh; iz’u gS rFkk izR;sd ds fy, 3 vad fu/kkZfjr gSaA
10 x 3 = 30
Instruction :- For questions nos. 1 to 10 are short answer type questions and
each question carries 3 marks.
10 x 3 = 30
Q. 1 What is meant by problem, ‘How to produce’?

“dSls mRiknu fd;k tk,” dh leL;k ls D;k vfHkizk; gS\
Ans:- Second problem before the economy is ‘ How to produce’? In

fact it is the problem related to the choice of techniques of
production:-
a) Labour intensive Technique – In this technique, more
quantity of labour is used as compared to capital. The use of
this technique ensures increase in employment and makes
solution of unemployment problem.
390
b) Capital intensive Technique – In this technique, more

quantity of capital is used as compared to labour. The use of
this technique increases production efficiency and
productivity.
For example clothes can be produced by both, handloom (ie.
Labour intensive technique) and power loom (ie. Capital
intensive technique)
For solution of this problem, we should adopt that technique
which utilizes lesser limited resources. If the production from
both the technique is the same then the technique using less
quantity of limited resources will be called more efficient
technique.
mRrj %& lalk/kuksa ds vkoaVu ls lEcfU/kr nwljh leL;k mRiknu rduhd ds pquko dh
gSA oLrqvksa ,oa lsokvksa dk mRiknu nks izdkj ls fd;k tk ldrk gS &
1- Je iz/kku rduhd ds iz;ksx }kjk & bl rduhd esa oLrqvksa rFkk lsokvksa
dk mRiknu Je dh vf/kd ek=k vkSj iw¡th dh de ek=k yxkdj fd;k
tkrk gSA
2- iw¡th iz/kku rduhd ds }kjk & bl rduhd esa izfr bdkbZ mRiknu ds fy,
iw¡th dh ek=k vf/kd vkSj Je dh ek=k dk de iz;ksx fd;k tkrk gSA
vr% vFkZO;oLFkk dh mRiknu dh bu nks oSdfYid rduhdksa esa pquko
djuk iM-rk
gS rFkk ;g fu.kZ; fy;k tkrk gS fd mRiknu dh dkSu lh rduhd dks viuk;k
tk;s ftlls fd izfr oLrq ykxr de ls de gksA
Q. 2 Suppose there are 20 consumers for a goods and they have

identical demand functions : d(P) =10-3P for any price less
391
than or equal to 10/3 and d, (P) =0 is the market demand

function?
Ekku yhft,] oLrq ds fy, 20 miHkksDrk gSa rFkk muds ek¡x Qyu ,d
tSls gSa & d(P) = 10-3P fdlh ,slh dher ds fy, tks ls de gks
vFkok cjkcj gks rFkk d1((P)=0 fdlh ,slh dher ij ls vf/kd gSA
cktkj ek¡x Qyu D;k gS\

Ans :- Number of consumers = 20
Demand function of a consumer = d(P)
= 10 – 3 P for P
And d1 (P) = 0 for P >
Since all the 20 consumers have identical demand, the market

demand function would be found out by adding the individual
demand functions of 20 consumers.
The market demand Function will be :
D (p) = 200 – 60 for P
And d1 (p) = 0 for P >
mRrj %& miHkksDrkvksa dh la[;k ¾ 20

,d miHkksDrk dk ek¡x Qyu ¾ d (P) = 10 – 3 P D;ksafd P
392
Pwfa d lHkh 20 miHkksDrkvksa ds ek¡x Qyu ,d tSls gSa vr% cktkj ek¡x Qyu
O;fDrxr ek¡x Qyu dk 20 xq.kk gksxkA
Ckktkj ek¡x Qyu ¾ 20 ¼10&3p½ D;ksfa d P = 200-60P
Q. 3 Distinguish between contraction of demand and Decrease in

Demand.
ek¡x ds ldqpu ,oa ek¡x esa deh esa vUrj Li"V dhft,A
Ans :-
 Contraction in  Decrease in Demand

Demand
1) It is situation in 1) In this case demand

which demand of of goods decreases
goods decrease due change in factors
due to price other than price
increase (other things being
(other things equal)
being equal) 2) It means less
2) It means less demand at same
demand of goods price or same
at high price. demand at lower
3) Movement along price.
the same demand 3) Demand curve shifts
curve from lower downward to left side
to upper point of the original curve.
takes place. 
4) Demand curve
does not change. 4) Demand curve
changes.
393
mRrj %& ek¡x ladqpu ,oa ek¡x esa deh esa vUrj &
 ek¡x ladqpu  ek¡x esa deh
1- ;g ,d ,slh n’kk gS ftlesa 1- ;g ,d ,slh n’kk gS ftlesa vU;

vU; ckrsa leku jgus ij ckrsa leku jgus ij dher ds
dher esa o`f) ds dkj.k vfrfjDr vU; ?kVdksa esa ifjorZu
oLrq dh ek¡x de gks tkrh ds dkj.k oLrq dh ekax esa deh
gSA vk tkrh gSA
2- bldk vFkZ gS] oLrq dh 2- bldk vFkZ gS oLrq dh mlh
vf/kd dher ij oLrq dh dher ij de ek¡x vFkok de
de ek¡xA dher ij oLrq dh mruh gh
3- ek¡x oØ ij uhps ls mij ek¡xA
dh vksj lapyu gksrk gSA 3- ek¡x oØ ck;sa ;k uhps dh vksj
4- ek¡x oØ ugha cnyrk LFkkukUrfjr gks tkrk gSA
4- ek¡x oØ cny tkrk gSA
Q. 4 Explain in brief the Law of variable Proportion.
ifjorZu’khy vuqikr ds fu;e dks la{ksi esa le>kb,A
Ans :- Law of Variable Proportion : When one or more factors are

kept constant and units of variable factor are increased then
production first increases, become constant and then
394
decreases. According to this law there are three stages of

production:-
First stage: Marginal product decreases after becoming
maximum. Average product becomes maximum and total
product increases.
Second stage : Average production starts decreasing and total
production increases at a decreasing rate and reaches
maximum or uppermost point where MP becomes zero.
Third stage : AP continues to decreases, total production start
decreasing and marginal product becomes negative.
mRrj %& ifjorZu’khy vuqikr dk fu;e & ?kVrs&c<-rs vuqikr ds fu;e ds vuqlkj] tc
fdlh ,d ;k vf/kd lk/kuksa dks fLFkj j[kk tkrk gS rks mRiknd ds
ifjorZu’khy lk/kuksa ds vuqikr esa o`f) djus ls mRiknu igys c<-rs gq,
vuqikr esa c<-rk gS fQj leku vuqikr esa rFkk blds ckn ?kVrs gq, vuqikr esa
c<-rk gSA
bl fu;e ds vuqlkj mRiknu dh rhu voLFkk,¡ gksrh gSa &
igyh voLFkk& lhekUr mRiknu vf/kdre gksus ds ckn ?kVuk vkjEHk gks tkrk
gSA vkSlr mRiknu vf/kdre gks tkrk gS rFkk dqy mRiknu c<-rk gSA
nwljh voLFkk & vkSlr mRiknu ?kVus yxrk gS vkSj dqy mRiknu ?kVrh nj ls
c<-rk gS rFkk vf/kdre fcUnq ij igq¡prk gS rc lhekUr mRiknu 'kqU; gks tkrk
gSA
rhljh voLFkk & vkSlr mRiknu ?kVuk tkjh j[krk gS rFkk dqy mRiknu de
gksus yxrk gS rc lhekUr mRiknu _.kkRed gks tkrk gSA
Q. 5 What is Net National Product?
'kq) jk"Vªh; mRikn D;k gS\
395
Ans:- Net National Product at Factor cost or national income is the

sum total of factor incomes (Rent + interest + Profit+ wages)
generated within the domestic territory of country, along with
net factor income from abroad during a year. NNPFC is the sum
total of sector incomes earned by normal residents of a
country during a year.
NNPFC = NDPFC + Net Factor Income from abroad.
NDPFC is a domestic variable and hence for converting it into
NNPFC net factor income from abroad is added in it.
mRrj %& lk/ku ykxr ij 'kq) jk"Vªh; mRikn ¼NNPFC½ dks gh jk"Vªh; vk; dgrs gSaA
jk"Vªh; vk; vFkok lk/ku ykxr ij 'kq) jk"Vªh; mRiknu] etnqjh yxku] C;kt
vkSj ykHk ds :i esa mRiknu ds lk/kuksa dks fn;s tkus ckys Hkqxrkuksa dks crkrh
gSA leLr lk/kuksa ds ;ksx dks jk"Vªh; vk; dgk tkrk gSA
Q. 6 Explain the difficulties of credit control.
lk[k fu;a=.k dh dfBukbZ;kWa crkb,A
Ans:- In spite of adopting various measures, central bank not control

the credit in fully desired way. Central bank may face many
difficulties while going for credit control which are as follows :-
1) Credit other than Bank credit :- Central bank can only control
bank credit, not other credit like exchange bills, promissory
notes, etc.
2) Lack of control in all Bank :- Central bank has no direct control
in all banking institutions in the country. Central bank does not
396
have that much control in foreign banks as it has on domestic

banks.
3) Lack of control on ultimate use of Credit :- Central bank cannot
put a control in the ultimate use of credit. People may use the
credit for speculation, while it is taken for productive business
activity.
4) Lack of control in Non-monetary Factors :- Economic
fluctuations appear due to both monetary and non-monetary
factors. Central bank can control only monetary factors with
its policies.
mRrj %& fofHkUu mik;ksa dk iz;ksx djus ij ;g vko’;d ugha gS fd dsUnzh; cSad lk[k
dk iwjk fu;a=.k dj ldsA bl laca/k esa cgqr&lh dfBukbZ;ka gSa tks dsUnzh; cSad ds
lkeus vkrh gSa&
1- cSad lk[k ds vfrfjDr vU; lk[k & dsUnzh; cSad dsoy cSad lk[k dks gh
fu;af=r dj ldrk gS] vU; izdkj dh lk[k dks ughaA
2- lHkh cSadksa ij fu;a=.k dk vHkko & ns’k dh leLr lk[k laLFkk,Wa dsUnzh; cSad
ds izR;{k izHkko esa ugha gksrh gSA tSls& fons’kh cSadksa ij dsUnzh; cSad dk
mruk fu;a=.k ugha gksrk ftruk /kjsyq O;olkf;d cSadksa ij gksrk gSA
3- lk[k ds vafre miHkksx ij fu;a=.k dk vHkko & dsUnzh; cSad lk[k ds vafre
miHkksx ij fu;a=.k ugha dj ldrk gSA ;g gks ldrk gS fd lk[k O;kikj
ds fy, yh tk;s ijUrq mldk miHkksx lV~Vs ds fy, fd;k tk;sA
4- vekSfnzd dkj.kksa ij fu;a=.k dk vHkko & ns’k esa eqnzk &izlkj o
eqnzk&ladqpu mRiUu gksus ds vusd ekSfnzd o vekSfnzd dkj.k gksrs gSaA
dsUnzh; cSad dsoy ekSfnzd dkj.kksa ij gh viuh lk[k fu;a=.k dh uhfr }kjk
izHkko Mky ldrk gSA
397
Q. 7 Explain the process of multiplier.
xq.kd izfØ;k le>kb,A
Ans:- The working of the multiplier assumes the following

process:-
Change in Change in Change in Change in

investment income consumptio income
Change in investment causes changes in income. As a result,

there is change in consumption. Consumption expenditure of
one person is an income of the other. Hence, change in
consumption leads to change in income. This process
continues falls to zero. Process of multiplier works in two
ways- With increase in investment multiplier, increases income

many times more. It is called backward action of the
multiplier.
mRrj %& dhUl dh xq.kd dh izfdz;k fuEuor~ gS &
Change in Change in Change in Change in

investment income consumptio income
398
mi;qZDr xq.kd izfdz;k Li"V djrh gS fd fuos’k esa ifjorZu gksus ls vk; esa
ifjorZu gksrk gSA blds QyLo:i miHkksx esa ifjorZu gksrk gSA pwafd ,d
O;fDr dk miHkksx O;; nwljs O;fDr dh vk; gksrh gS vr% miHkksx esa ifjorZu
gksus ls vk; esa ifjorZu gksrk gSA bl izdkj ;g izfdz;k rc rd pyrh jgrh gS
tc rd miHkksx O;; esa 'kwU; ugha gks tkrkA
xq.kd izfØ;k nks izdkj dh gksrh gSA fuos’k ds c<-us ij xq.kd] vk; esa dbZ
xq.kk o`f) dj nsrk gSA bls xq.kd dh vuqdwy izfØ;k dgrs gSaA blds foifjr]
fuos’k ds de gksus ij xq.kd ds izHkko ls vk; esa dbZ xq.kk deh gks tkrh gSA
bls xq.kd dh izfrdwy izfØ;k dgk tkrk gSA
Q. 8 Explain the characteristics of Budget in a planned economy.
fu;ksftr vFkZO;oLFkk ls ctV dh fo’ks"krk,¡ crkb,A
Ans:- Budget plays a decision-making role in planned economy. The

goals of economic development in a planned economy may be
achieved with the basic instruments of budget. A budget in a
planned economy may contain the following features.
1) In a planned economy budget is based on the broad
objectives of national planning.
2) In initial phase of economic development, planning is
supported by deficit budget which is brought to near
balanced budget in the later stage of development.
399
3) In a planned economy a policy of ‘Justice in taxation’ is

adopted while making budget and for if the policy of
progressive taxation is adopted.
4) Budget also plays a positive role in performing the
economic activities in the country.
mRrj %& fu;ksftr vFkZO;oLFkk esa ctV ,d fu.kkZ;d Hkwfedk fuHkkrk gSA fu;ksftr
vFkZO;oLFkk esa vkfFkZd fodkl ds y{;ksa dh izkfIr gsrq ctV dk fuekZ.k djuk
vko’;d ekuk tkrk gS D;ksfa d ctV ds vHkko esa vkfFkZd fodkl dh ;kstukvksa
dk lQy fu"iknu laHko ugha gks ikrk A ,d fu;ksftr vFkZO;oLFkk esa ctV dh
fuEufyf[kr fo’ks"krk,Wa ik;h tkrh gS&
1- ,d fu;ksftr vFkZO;oLFkk esa ctV jk"Vªh; fu;kstu ds o`gn~ mn~ns’;ksa ij
vk/kkfjr gksrk gSA
2- fu;kstu ds izkjfEHkd dky esa ns’k ds vkfFkZd fodkl dks /;ku esa j[k dj
izk;% ?kkVs dk ctV cuk;k tkrk gS rFkk ckn esa ctV dks /khjs&/khjs larqfyr
djus dk iz;kl fd;k tkrk gSA
3- fu;ksftr vFkZO;oLFkk esa ctV dk fuekZ.k bl rjg fd;k tkrk gS fd dj
dk izHkko vf/kdkf/kd U;k;iw.kZ jgsA blds fy, izxfr’khy dj dh uhfr
viukbZ tkrh gSA
4- ns’k dh vkfFkZd fØ;kvksa ds fu"iknu esa ctV dh Hkwfedk ldkjkRed gksrh
gSA
Q. 9 Distinguish between balance of trade and Balance of
payments.
O;kikj 'ks"k ,oa Hkqxrku 'ks"k esa vUrj dhft,A

400
Ans:-
 Balance of Trade  Balance of Payment
1) Balance of trade refers to 1) Balance of payments is a

the difference between statement of all economic
exports and imports of transactions between residents of
goods by a country in a a country and rest of the world
year. during a year.
2) It is a narrow concept as 2) It is a wider concept.
it is a component of 3) It is a complete record of
balance of payments. economic transactions with the
3) It is only a partial record. rest of the world. Hence, it
Hence, it is not a true provides a true picture of the
indicator of economic economy of a country with the
relations with other rest of the world.
countries. 4) From accounting view-point, it is
4) It may be favourable or always balanced.
unfavourable.
mRrj %& O;kikj 'ks"k ,oa Hkqxrku 'ks"k esa vUrj &
 O;kikj 'ks"k  Hkqxrku 'ks"k
1- O;kikj 'ks"k vk;kr rFkk fu;kZr 1- Hkqxrku 'ks"k esa lHkh n`’; rFkk vn`’;
oLrqvksa vFkkZr n`’; oLrqvksa dh oLrq,¡] migkj rFkk iw¡thxr oLrq,Wa
lwph gksrh gS tks ,d ns’k ,d 'kfey gksrh gSA
o"kZ esa djrk gSA 2- ;g ,d foLr`r /kkj.kk gS rFkk blesa
2- ;g ,d ladqfpr /kkj.kk gS rFkk ,d ns’k ds ckdh fo’o ds lkFk lHkh
Hkqxrku 'ks"k dk Hkkx gSA lkSns 'kfey fd;s tkrs gSaA
3- ;g ns’k ds vkfFkZd lEcU/kksa rFkk 3- ;g ,d ns’k ds 'ks"k fo’o ds lkFk
401
vkfFkZd le`f) dk lgh lwpd lHkh lkSnksa dk ek=kRed :i esa

ugha gSA laf{kIr fooj.k gS blfy, vFkZO;oLFkk
4- ;g vuqdwy vFkok izfrdwy gks dk lgh lwpd gSA
ldrk gSA 4- ys[kk dh n`f"V ls ;g lnk larqfyr
jgrk gSA
Q. 10 Explain four sources each for demand and supply of foreign

exchange.
fons'kh fofue; dh ek¡x rFkk iwfrZ ds pkj&pkj L=ksr crkb,A
Ans:- The following factors cause demand for foreign exchange i.e.
foreign exchange is demanded by domestic residents for the
following reason :
a) To purchase goods and services from foreign countries.
b) To purchase financial assets in a foreign countries.
c) To invest directly in shops, factories, building in foreign
countries.
d) To speculate on the value of foreign currencies.
e) To send gifts abroad.
f) To undertake foreign tours and
g) Remittances to their families by foreigners working say in
India.
The supply of foreign exchange comes from :
a) The domestic exporters who receive payments of foreign
currency.
402
b) The foreigners, who invest and lend in the home country.

c) Domestic residents who repatriate capital funds previously
sent abroad.
d) The domestic residents who receive gifts from foreign
countries.
e) Direct purchases by the non-residents in the domestic
market.
mRrj %& fons’kh fofue; dh ek¡x ds L=ksr &
fons’kh fofue; dh ek¡x eq[; :i ls vxzfyf[kr L=ksrksa ls mRiUu gksrh gS&
1- fons'kksa ls oLrqvksa o lsokvksa dk vk;krA
2- fons’kksa esa fuos’kA
3- fons’kksa esa HksaV migkj ;kstukA
4- fons’kh eqnzkvksa ds ewY; ij lV~VkA
5- vUrZjk"Vªh; lkSnksa ls lacaf/kr vU; HkqxrkuA
fons’kh fofue; dh iwfrZ ds L=ksr &
fons’kh fofue; dh iwfrZ ds eq[; L=ksr fuEufyf[kr gSa &
1- fons’kksa dks oLrqvksa o lsokvksa dk fu;kZrA
2- x`g ns’k esa fonsf’k;ksa }kjk fuos’kA
3- 'ks"k lalkj ls HksVa migkj izkIr djukA
4- fons'kh fofue; ds lkSnkxjksa ,oa lV~Vk djus okyksa ds dkj.k fons’kh eqnzk dk
ns’k dh vksj vkukA
5- vUrZjk"Vªh; lkSnksa ls lacaf/kr izkfIr;k¡ A
403
MODEL PAPER
d{kk &XII
vFkZ’kkL= ¼okf.kT;½ Economics (Commerce)
Set –
nh?kZ mRrjh; iz’u (Long Answer Type Questions.)
funsZ’k & iz’u la[;k 11 ls 15 rd nh?kZ mRrjh; iz’u gS rFkk izR;sd ds fy, 6 vad fu/kkZfjr
gSaA
5 x 6 = 30
Instruction :- For questions nos. 11 to 15 are long answer type questions and
each question carries 6 marks.
5 x 6 = 30
nh?kZ mRrjh; iz’u
Q. 11 Explain consumers Equilibrium in indifference curve

Analysis.
mnklhurk oØ fo’ys"k.k esa miHkksDrk lUrqyu Li"V dhft,A
Ans:- A consumer obtains the state of equilibrium when he becomes

successful in maximizing his satisfaction by purchasing goods
with his limited income and given prices of good. The price line
of consumer is determined by his income and prices of the
404
goods he consumes with this given price line, a consumer tries

to obtain the maximum possible indifference curve.
In indifference curve analysis, there are two conditions of
consumer’s equilibrium.
1) Price line should be trangent to indifference curve i.e. at the

point of equilibrium, the marginal rate of substitution X and
Y (MRSxy) should be equal to the ratio of
prices of goods X and goods Y.
Y Consumer’s Equilibrium
Point
R MRSxy =
y IC
E
O X
x S
In fig. at equilibrium point E, Slope of price line = Slope of

Indifference Curve or
= MRSxy
2) For stable equilibrium, indifference curve should be convex

to the origin at the point of equilibrium. i.e MRSxy should
be diminishing at the point of equilibrium.
405
R
E
IC2
K IC1
O X
S
In fig. at point K, first condition is getting fulfilled but this

equilibrium is not stable because at point K the MRSxy is
increasing. In fig. point E is a point of final equilibrium where
MRSxy is diminishing.
mRrj %& ,d miHkksDrk larqyu dh voLFkk esa rc gksrk gS tc viuh lhfer vk; dh
lgk;rk ls oLrqvksa dks mudh nh x;h dherksa ij [kjhn dj vf/kdRre larqf"V
izkIr djus esa lQy gks tkrk gSA miHkksDrk dh dher js[kk mldh vk; ,oa
miHkksx oLrqvksa dh dherksa ls fu/kkZfjr gksrh gSA bl dher js[kk ds lkFk
miHkksDrk Å¡ps ls Å¡ps mnklhurk oØ rd igqWapus dk iz;kl djrk gSA
Y Consumer’s Equilibrium
Point
R MRSxy =
y IC
E
O X
x S
fp=& A
mnklhurk oØ fo’ys"k.k esa miHkksDrk ds larqyu dh nks 'krsZa gSa &
1- mnklhurk oØ dher js[kk dks Li’kZ djs& vFkkZr ek=kRed :i esa X oLrq
406
dh Y oLrq ds fy;s lhekUr izfrLFkkiuk nj X rFkk Y oLrqvksa dh dherksa

ds vuqikr ds cjkcj gksuh pkfg,A
MRSxy =
R
E
IC2
K IC1
O X
S
fp=& B
fp= esa lUrqyu foUnq E ij dher js[kk dk <ky ¾ mnklhurk oØ dk <ky
MRSxy =
2- LFkk;h lUrqyu ds fy, lUrqyu fcUnq ij mnklhurk oØ ewy fcUnq dh vksj

mUuRrksnj gksuh pkfg,A vFkkZr~ larqyu fcUnq ij MRSxy ?kVrh gqbZ gksuh
pkfg,A
layXu fp= (B) esa K fcUnq ij ;|fi larqyu dh igyh 'krZ iqjh gks jgh
gS] fdUrq K ij larqyu dh fLFkfr LFkk;h ugha gS D;ksfa d K fcUnq ij MRSxy
c<-rk gqvk gSA
fcUnq E vafre larqyu dk fcUnq gS tgkWa MRSxy ?kVrh gqbZ gSA
Q. 12 Explain the change in equilibrium increase appears only due
to change in aggregate demand.
407
Li"V dhft, dh lUrqyu vk; esa ifjorZu dsoy lkewfgd ek¡x esa
ifjorZu ds dkj.k gksrk gSA
Ans:- Income and employment equilibrium level is established in the

economy where aggregate demand (AD) and aggregate supply
(AS).
Y
Y=AS
Saving /Investment
1
E1 AD1=C+1
AD=C+1
E
O
X
Y Y1 Income
Aggregate supply is affected by technological conditions of

production. As technological condition cannot be changed in
short period, aggregate supply remains constant in short
period.
Hence, Keynes accepts aggregate demand as a sole
responsible factor in determination of employment level.
That’s why Keynesian employment theory is also called as
‘Theory of Aggregate Demand’.
Thus, according to Keynes, only change in aggregate demand
brings change in equilibrium level of income. As aggregate
408
demand curve moves upward, income and employment level

increase, in the economy (as shown in fig.)
In fig. Ad and As curves cut each other at point E where
income and employment level increases to OY from OY.
mRrj %& vFkZO;oLFkk esa vk; vkSj jkstxkj dk larqfyr Lrj ogkWa LFkkfir gksxk tgkWa ls
lkeqfgd ek¡x ¼AD½ ,oa lkeqfgd iwfrZ vkil esa cjkcj gksrs gSaA
lkeqfgd iwfrZ mRiknu dh rduhdh n’kkvksa ls izHkkfor gksrh gSSA pwafd
vYidky esa rduhdh n’kkvksa esa ifjorZu ugha fd;k tk ldrk] blfy, ge ;g
eku dj py ldrs gSa fd vYidky esa lkeqfgd iwfrZ fLFkj jgrh gSA vr% dhUl
us Lo;a Lohdkj fd;k gS fd jkstxkj ds fu/kkZj.k esa lkeqfgd ek¡x dh Hkwfedk
vf/kd egRoiw.kZ gSA ;gh dkj.k gS fd dqN yksxksa us dhUl ds jkstxkj fl)kar
dks lkeqfgd ek¡x fl)kUr Hkh dg dj iqdkjk gSA
bl izdkj dhUl ds fopkj esa vk; ds larqyu Lrj esa ifjorZu dsoy
lkeqfgd ek¡x esa ifjorZuksa ls laHko gks ldrk gSA lkeqfgd ek¡x oØ ls mij dh
vksj f[kldus ls vFkZO;oLFkk esa vk; vkSj jkstxkj ds Lrj esa o`f) gksrh gSA
tSlk fd layXu fp= esa fn[kyk;k x;k gSA
Y
Y=AS
Saving /Investment
1
E1 AD1=C+1
AD=C+1
E
O
X
Y Y1 Income
409
fp= esa AD rFkk AS Øe’k% lkeqfgd ek¡x oØ rFkk lkeqfgd iwfrZ oØ

gSA ;s nksuksa oØ vkil esa E fcUnq ij dkVrs gSa] E fcUnq ij larqfyr vk; vkSj
jkstxkj dk Lrj OY gSA
lkeqfgd ek¡x esa o`f) gksus ls lkeqfgd oØ mij dh vksj f[kldrk gSA
fp= esa AD oØ u;k lkeqfgd ek¡x oØ gSA ;g u;k lkeqfgd ek¡x oØ
lkeqfgd iwfrZ oØ AS dks E1 fcUnq ij dkVrk gSA jkstxkj dk larqyu Lrj OY
ds LFkku ij OY1 gks tkrk gSA blls vk; rFkk jkstxkj esa o`f) gksrh gSA
Q. 13 What do you understand by the concept of full employment?
iw.kZ jkstxkj dh vo/kkj.kk ls vki D;k le>rs gSa\
Ans:- In Macro Economics, ‘Full employment’ means a situation in

which at a given level of real wage, demand for labour is equal
to its available supply. Thus the term full employment is used
to signify a situation I which ordinarily all those people wage
rate get work.
In other words, “Full employment is a situation in which all
those persons who are able and willing to work get work i.e,
employment at the prevailing wage rate.”
In work of Spencer, “Full employment is a situation in which
everyone who wants to work is working except for those who
are frictionally and structurally unemployed.”
410
Full employment is not a situation of zero employment. It does

not mean lack of unemployment. It simply means that
situation in which employment opportunities and qualified
job-seekers get equilibrium but some sort of unemployment
cannot be denied in the economy. This sort of unemployment
may be referred as natural unemployment.
mRrj %& lef"V vFkZ’kkL= esa iw.kZ jkstxkj lkE; dh og fLFkfr gS ftlesa oLrqvksa vkSj
lsokvksa dh dqy ek¡x mudh iwfrZ ds cjkcj gksrh gSA bl fLFkfr esa fdlh fn;s
gq, okLrfod etnqjh Lrj ij Je dh ek¡x Je dh iwfrZ ds cjkcj gksrh gS vkSj
lHkh dk;Z djus ;ksX; ,oa bPNqd O;fDr;ksa dks izpfyr etnqjh nj ij jkstxkj
fey tkrk gSA
vFkkZr iw.kZ jkstxkj og n’kk gS ftlesa izpfyr etnqjh ij dk;Z djus ;ksX; ,oa
bPNqd O;fDr dk;Z izkIr dj ysrs gSaA
iw.kZ jkstxkj ifjHkk"kk & LisUlj ds vuqlkj] “iw.kZ jkstxkj og fLFkfr gS
ftlesa izR;sd O;fDr tks dke djuk pkgrk gS] dke dj jgk gS flok; muds
tks la?k"kZkRed rFkk lajpukRed csjkstxkj gS ”
iw.kZ jkstxkj 'kwU; csjkstxkjh dh fLFkfr ugha gSA iw.kZ jkstxkj dk vfHkizk; ;g
ugha gS fd vFkZO;oLFkk esa dksbZ O;fDr csjkstxkj ugha gSA iw.kZ jkstxkj dh fLFkfr
esa jkstxkj voljksa rFkk mUgsa djus ds fy;s ;ksX; ,oa bPNqd O;fDr;ksa esa larqyu
gksrk gS fdUrq bl larqyu esa vFkZO;oLFkk esa dqN csjkstxkjh mifLFkr gks ldrh
gS ftls izkd`frd csjkstxkjh dk uke fn;k tkrk gSA
Q. 14 What is flexible exchange rate? What are its merits, and

demerits?
ykspiw.kZ fofue; D;k gS\ blds xq.k&nks"k D;k gSa\

411
Ans:- Flexible exchange rate : It refers to the system of exchange in

which the value of currency is allowed to adjust freely or to
float as determined by demand for and supply of exchange.
Thus, flexible rate is free to and supply of foreign currency.
Hence, R = f (D, S)
i.e, Exchange rate is a function of demand and supply. (where
R = Exchange Rate, D= Demand for various currencies in the
international market and S = Supply of various currencies in
international market)
The exchange rate at which demand for foreign exchange
becomes equal to supply Exchange of Rate’. It is also termed
as ‘Normal Rate of Exchange’ or ‘Equilibrium Rate of
Exchange’.
Merits of flexible Exchange System:-
1) Simple System – It is a simple system in its operation where
exchange rate is determined at a point where the demand
supply forces of exchange rate become equal.
Hence, it does not need any outside intervention.
2) Continuous Adjustments – There is always a possibility of
adjustment in flexible exchange rate and hence adverse
effects of long-term disequilibrium can be avoided.
412
3) Improvement in BOP – Adjustments in balance of payments

in flexible exchange rate are smoother as compared with
the fixed exchange rate adjustments.
4) Optimum use of Resources – Flexible exchange rate ensures
optimum use of resources which consequently increase the
level of efficiency in the economy.
Demerits of Flexible Exchange Rate :

1) Bad effect of less Elasticity – Less elasticity in exchange rate
makes foreign exchange market unstable and consequently
BOP situation becomes worse as a result of depreciation in
scarce money.
2) Uncertainty – Flexible exchange rate generates uncertainty
and frequent changes in exchange rate discourage
international trade and capital movements.
3) Instability in International Trade – Instability in international
money market generates instability in international trade.
Consequently, formulation of long run policies related to
import and export becomes difficult.
413
mRrj %& yksp’khy fofue;; nj iz.kkyh esa fofue; nj fons’kh eqnzk cktkjksa esa fons’kh eqnzk
dh ek¡x ,oa iwfrZ }kjk fu/kkZfjr gksrh gS rFkk fofue; nj ek¡x ,oa iwfrZ ds
ifjorZuksa ds lkFk cnyrh jgrh gSA
R = f (D, S)
vFkkZr fofue; nj Qyu gS ek¡x vkSj iwfrZ dk ¼;gka¡ R= fofue; nj] D
=vUrZjk"Vªh; cktkj esa fofHkUu eqnzkvksa dh ek¡x] S =vUrZjk"Vªh; cktkj esa fofHkUu
eqnzkvksa dh iwfrZ ½
ftl fofue; nj ij fons’kh eqnzk dh ek¡x mldh iwfrZ ds cjkcj gks tk;s] mls
fofue; dh lerk nj dgrs gSa vkSj ;g fofue; dh lkekU; nj ;k fofue; dh
larqyu nj Hkh dgh tkrh gSA
ykspnkj fofue; nj iz.kkyh ds xq.k&
1- ljy iz.kkyh & ykspnkj fofue; nj iz.kkyh ,d ljy iz.kkyh gS ftlesa
fofue; nj ogkWa fu/kkZfjr gksrh gS tgk¡ ek¡x vkSj iwfrZ esa lkE; LFkkfir gks
tkrk gSA vr% blesa fdlh ckgjh gLr{ksi dh vko’;drk ugha gksrhA
2- lrr lek;kstu& ykspnkj fofue; njksa esa lrr lek;kstu dh xqatkb’k
jgrh gS vkSj bl izdkj nh?kZdkyhu vlarqyu ds foifjr izHkkoksa ls cpk tk
ldrk gSA
3- Hkqxrku larqyu esa lq/kkj &Hkqxrku 'ks"k esa larqyu LFkkfir djuk fofue; nj
dk dk;Z gS rFkk fofue; nj esa lek;kstu dsoy ykspiw.kZ fofue; nj gksus
ij gh fd;s tk ldrs gSaA ykspiw.kZ fofue; njsa gksus ij Hkqxrku 'ks"k esa
larqyu vklkuh ls iSnk fd;k tk ldrk gSA
4- lalk/kuksa dk dq’kyre mi;ksx & ykspiw.kZ fofue; nj lk/kuksa ds dq’kyre
mi;ksx ds volj iznku djrh gS vkSj bl izdkj vFkZO;oLFkk esa dk;Z
&dq’kyrk ds Lrj dks c<-krh gSA
ykspiw.kZ fofue; nj iz.kkyh ds nks"k & ykspiw.kZ fofue; nj iz.kkyh
esa xq.kksa ds lkFk&lkFk vusd nks"k Hkh gSa ftlesa fuEu izeq[k gSa &
1- fuEu yksp ds nq"ifj.kke & ;fn fofue; njksa dh yksp dkQh de gS rks
414
fons’kh fofue; cktkj vfLFkj gksxh ftlds QyLo:i nqyZHk eqnzk ds dsoy
ewY; âkl ls gh Hkqxrku larqyu dh fLFkfr fcxM- tk;sxhA
2- vfuf’prrk & ykspnkj fofue; njsa vfuf’prrk mRiUu djus okyh gksrh gS
tks vUrZjk"Vªh; O;kikj vkSj iw¡th dh xfr’khyrk ds fy, ?kkrd gSA
3- vUrZjk"Vªh; O;kikj esa vfLFkjrk & vUrZjk"Vªh; eqnzk cktkj esa vfLFkjrk
vUrZjk"Vªh; O;kikj esa vfLFkjrk dk dkj.k curh gSA vk;kr rFkk fu;kZr
laca/kh nh?kZdkyhu uhfr;k¡ cukuk dfBu gks tkrk gSA
Q. 15 Distinguish between Perfect Competition and Monopoly.
iw.kZ izfr;ksfxrk vkSj ,dkf/kdkj esa vUrj fyf[k,A

Ans:-
 Perfect Competition  Monopoly
1) Average revenue and 1) Average revenue is

marginal revenue are greater than marginal
equal. revenue.
 AR = MR  AR>MR
2) Price (AR) is equal to 2) Price (AR) is greater

marginal Cost (MC) AR than marginal cost
= MC (MC). AR>MC
3) Long-run production is 3) Long run production is
possible only in possible in all cost
constant cost conditions:
conditions. decreasing, constant
4) Normal profit is the and rising.
only possibility in long 4) Profit is obtained in
run. long-run under all the
5) Higher production three cost conditions.
quantity and lower 5) Higher price and lower
price are obtained. production quantity are
 obtained.
415
6) Firm obtain equilibrium 

at its optimum size.
7) No price discrimination 6) Firm obtain equilibrium
is possible because at its less than
buyer has the perfect optimum size level.
knowledge of the 7) Price discrimination is
market. possible which is
8) Number of firms profitable.
making homogeneous 8) Single firm in the
product is very large. industry i.e. firm is
9) Entry and exit of firms industry and industry is
in the industry is free firm.
and allowed. 9) Entry of new firm into
the industry is
prohibited.
mRrj %& iw.kZ izfr;ksfxrk ,oa ,dkf/kdkj esa vUrj %&
 iw.kZ izfr;ksfxrk  ,dkf/kdkj
1- vkSlr vkxe vkSj lhekUr vkxe 1- vkSlr vkxe lhekUr vkxe ls

nksuksa cjkcj gksrs gSaA AR = MR vf/kd gksrk gSA AR > MR
2- oLrq dh dher lhekUr ykxr ds 2- oLrq dh dher lhekUr ykxr ls
cjkcj gksrh gSA AR= MC vf/kd gksrh gSA AR > MC
3- nh?kZdky esa fLFkj ykxr n’kk esa 3- nh?kZdky esa ?kVrh ykxr] fLFkj
mRiknu laHko gSA ykxr ,oa c<-rh ykxr rhuksa
4- nh?kZdky esa dsoy lkekU; ykHk dh n’kkvksa esa mRiknu ,oa larqyu
fn’kk laHko gSA laHko gSA
5- mRiknu Lrj vf/kd vkSj dher 4- nh?kZdky esa dsoy ykHk gh feyrk
de gksrh gSA gS pkgs ykxr ?kVrh gks] fLFkj gks
6- QeZ vius vuqdwyre vkdkj ij vFkok c<-rh gksA
larqyu esa gksrh gSA 5- dher Å¡ph vkSj mRiknu Lrj de
7- dher foHksnhdj.k laHko ugha gS gksrk gSA
D;ksfa d Øsrkvksa dks cktkj dk iw.kZ 6- QeZ vius vuqdwyre vkdkj ls
Kku gksrk gSA de ij larqyu esa gksrh gSA
416
8- ,d leku mRiknu djus okyh 7- dher foHksnhdj.k laHko ,oa

QeksZa dh la[;k cgqr vf/kd gksrh ykHkizn gSA
gSA 8- ,d vdsyh QeZ gksrh gSA QeZ gh
9- QeksZa dk m|ksx esa izos’k ,oa m|ksx gS vkSj m|ksx gh QeZ gSA
cfgxZeu Lora= gksrk gSA 9- QeksZa dk m|ksx esa izos’k izfrcaf/kr
gksrk gSA

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1

(1) What is economics activity ?

Lokpr miHkksx O;; (Autonomous consumption expenditure) 200

MODEL QUESTION PAPER

6. Slope of budget line or price line is

7. Following figure shows :

(a) High Elastic Demand

(a) Negative (b) Positive

(b) Zero (d) None of these

9. Elastic demand is shown by :

(c) (d) None of these

10. Production function is expressed as :

(c) cost of Raw material (d) Rent of the factory

(c) G N PMP + Indirect Tax

32. On which concept does classical viewpoint depend ?

(c) Five Years (d) Ten Years

1. (C), 2. (d), 3. (c), 4. (d)

5. (a), 6. (a), 7. (b), 8. (b)

9. (a), 10. (b), 11. (b), 12. (c)

13. (c), 14. (d), 15. (a), 16. (c)

17. (b), 18. (b), 19. (b), 20. (a)

21. (a), 22. (c), 23. (a), 24. (d)

25. (a), 26. (a), 27. (d), 28. (a)

29. (b), 30. (c), 31. (d), 32. (d)

33 (d), 34. (d), 35. (a), 36. (d)

37. (a), 38. (c), 39 (c), 40. (a)

cgq &fodYih; iz’u % &

(c) jSxuj fQ’k (d) buesa ls dksbZ ugha

(c) ,Me fLeFk (d) ts0 ds0 esgrk

(c) O;fDrxr ewY; fu/kkZj.k (d) buesa ls lHkh

(c) fgDl (d) lSE;qvYlu

7- fuEufyf[kr fp= iznZf’kr djrk gS %

(a) vkfFkZd ykspnkj ek¡x (b) iw.kZr% ykspnkj ek¡x

(c) ‘kwU; (d) buesa ls dksbZ ugha

(c) = (d) buesa ls dksbZ ugha

10- mRiknu Qyu dks O;Dr djrk gS &

(c) QX = DX (d) buesa ls dksbZ ugha

11- mRiknu dk lfØ; lk/ku gS &

(c) Hkwfe (d) buesa ls dksbZ ugha

(c) dPps eky dh ykxr (d) QSDVªh dk fdjk;k

14- cktkj dh fuEufyf[kr esa dkSu&lh fo’ks”krk,¡ gS \

(c) ek’kZy (d) buesa ls dksbZ ugha

(c) };kf/kd`r (d) buesa ls dksbZ ugha

19- vfr vYidky esa iwfrZ gksxh %

(c) fu;kZr (d) ykHk

22- r`rh;d {ks= ds vUrZxr fuEu esa ls dkSu&lh lsok lfEefyr gS \

(c) lapkj (d) i'kqikyu

(c) NN PFC (d) buesa ls dksbZ ugha

(a) GN PMP f?klkoV (b) GN PMP f?klkoV

(c) izks0 FkkWel (d) dhUl

27- O;kikfjd cSad ds izkFkfed dk;Z fuEufyf[kr esa dkSu&ls gS \

31- ;fn MPC = 0.5 rks xq.kd (R) gksxk %

(c) C+S = C+I

(d) mi;qZDr lHkh

38- ctV izkfIr;ksa ds la?kVd fuEufyf[kr esa dkSu gS \

39- vizR;{k dj ds vUrxZr fuEufyf[kr esa fdls ‘kkfey fd;k tkrk gS \

1. (C), 2. (d), 3. (c), 4. (d)

5. (a), 6. (a), 7. (b), 8. (b)

9. (a), 10. (b), 11. (b), 12. (c)

13. (c), 14. (d), 15. (a), 16. (c)