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SECOND YEAR HIGHER SECONDARY MODEL EXAMII{ATION,
MARCH 2022
- III
Pan Time : Zt/z Hours
ECONOMICS Cool-off time : l5 Minutes
Maximum : 80 Scores
Generol Instructions to Candidates :
. There is a'Cool-offtime' of 15 minutes in addition to the writing time.
o Use the 'Cool-off time' to get familiar with questions and to plan your answers.
o Read questions carefully befor'e answering.
. Read the instructions carefully.
. Calculations, figures and graphs should be shown in the answer sheet itself.
. Malayalam version of the questions is also provided.
. Give equations wherever necessary.
o Electronic devices except non-programmable calculators are not allowed in the
Examination Hall.
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ME-s35 P.T.O.
PART _ I
carries 1 score' (4xl=4)
l,\. Answer any four questions from 1 to 6' Each
produced
The relationship between inputs used and output
:
t.
(a) Revenue function
(b) Cost function
(c) Production function
(d) Demand function
is an example of
2. Steel sheets used for making automobiles
:
(a) Consumer durables
(b) Final goods
(c) ConsumPtion goods
(d) Intermediate goods
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J. J.M. Keynes is associated wittl"w*'
(b) Welfare Economics
(a) Macro Economics
(d) Behavioural Economics
(c) EnvironmentalEconomics
and its Total Cost :
4. The difference between a firm,s Total Revenue
(a) Average Product
(b) Profit
(c) Average cost
(d) Average variable cost
The rate at which one cutrency is exchanged
for another culrency :
5.
(a) Rate of interest
(b) Rate of unemPloYment
(c) Rate of inflation
(d) Rate of exchange
ME-535
unit of commodity'
6, The change in Total utility due to consumption of one additional
(a) Average utilitY (b) Marginal utilitY
(c) TotalutilitY (d) Marginal Rate of substitution
B. Answer all questions from 7 to 10. Each carries I score. (4 x 1 = 4)
Income from Abroad): ?
7. GDP (Gross Domestic Product) + NFIA (Net Faction
(a) Gross National Product (GNP) (b) Depreciation
(c) Net Indirect Taxes (d) Net National Product G'INP)
;,'.',
8. Price Elasticity of a Unitary Elastic Demand curve I ,
(a) ed=1 (b) ed=0
(c) ed> 1
(d) ed<1
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9. The number of sellers in an oligopoly marke'
(a) Very large (b) Large
(q) Few (d) One
the labour supply curve
10. Which of the following will be determined at the point where
and labour demand curve intersect ?
(a) Rent (b) Wage rate
(c) Rate of interest (d) Profit
ME-535 4
PART - tI
A. Answer any three questions from 1l to 15. Each
carries 2 scores' (3 x2= 6',)
I l. Elucidate normal goods with example'
12. Identify the following concepts :
factors of production is fixed'
(a) The time period where at least one of the
(b)Thetimeperiodwhereallthefactorsofproductionoanbevaried.
13, Define the following :
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(a) Investment
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(b) DePreciation
supply'
14. Distinguish between Excess demand and Excess
l5.WhatdoyoumeanbyMarginalPropensitytoConsume(MPC)?
B. Answer any two questions from 16 to 18. Each
carries 2 scores' (2 x 2 = 4\
16, List any two motives for which people desire to hold money balance'
point of view'
17. Identify four sectors of the economy from macro-economic
curve of a firm'
18. Mention any two factors determining the supply
ME-535
PART - III
A. Answer any three questions from 19 to 23. Each carrles 4 scores. (3 x 4 = 12)
19, Explain any two centralproblems of an economy regarding the allocation of resources,
20, The table shows the price and quantity of a commodity sold in a monopoly,
Prlce Quallty TR AR
10 1
I 7
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6 3
i. 'i
4 4
2 5
(a) Complete the table calculating the Total Revenue (TR) and Average Revenue
(AR).
(b) List any two features of a monopoly.
21. Explain the functions of money.
22. With the help of a diagram analyse the 'Law of variable proportions',
23. Explain the components of Aggregate Demand (AD).
ME-535 8
(1x4=4)
scores'
from 24 to25' Carries 4
B. Answer any one question
24. Match the following :
same output
inprt Co*Uinations giving
Long R n Average Cost (LRAC)
*n* Run Marginal Cost (Lftt49 of LRAC
Function *ing through the minimum
CoOO Douglas'Production
Function
Long Run Production
2s,ExplainanytwofeasonswhyGDPcannotbeconsideredasanindexofthewelfareof
the PeoPle of a countrY'
PART - IV
6 scores'
(3x6=18)
questlons from 26 to 29' Esch carries
A. Answer any three
Marginal Cost
26. ThediagramshowstherelationshipbetweenAverageCost(AC)and
J
(MC) curve :
AC
MC
,/
(i) Write short notes on :
(a) Average Cost (AC)
(b) Marginal Cost (MC)
between Average
diagram identify any two relationships
(ii) With the help of above
Cost (MC)'
Cost (AC) and Marginal
10
ME-53s
21. With the help of diagrams analyse 'Price Ceiling' and 'Price floor''
28. Prepare notes on :
(a) Revenue receiPts
(b) RevenueexPenditure
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29, Explain the objectives of government budget'
B. Answer any two questlons from 30 to 32. Each carrles 6 scores. Qx6= 12)
30, (i) what do you mean by Price Elasticity of Demand (PED) ?
(ii) Graphically explain the perfectly elastic and perfectly inelastic demand curves'
3 1. RBI publishes figures for four alternative measures of money supply'
(i) Elucidate four measures of Money Supply in India'
(ii) ldentify NarrowMoney and Broad Money'
32. (i) DistingUish between open economy and closed economy.
establish
(ii) Product market is one of the linkages through which open economies
economic relation with rest of the World. Explain the other
two linkages'
ME-535 t2
PART -V
Answer any two questions from 33 to 35. Each carries 8 scores'
(2 x 8 = 16)
33. (i) Mention the properties of Indifference curves'
(ii) Diagrammatically explain the optimal choice of consumer.
34. With the help of diagrams analyse the profit maximisation conditions of a firm under
perfect comPetition in short run.
GDP'
35. What do you mean by GDP ? Explain any two methods of calculating
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ME-53s t4
