Kerala Plus Two Question Paper 2024 Economics

Kerala Board

Question Paper
2024

Reg. No. : ......................................
SY-535 Name : ...........................................

SECOND YEAR HIGHER SECONDARY EXAMINATION, MARCH – 2024

Part – III Time : 2½ Hours
ECONOMICS Cool-off time : 15 Minutes
Maximum : 80 Scores

General Instructions to Candidates :
 There is a ‘Cool-off time’ of 15 minutes in addition to the writing time.
 Use the ‘Cool-off time’ to get familiar with questions and to plan your answers.
 Read questions carefully before 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.
 Electronic devices except non-programmable calculators are not allowed in the
Examination Hall.
  :
    15  ‘  ’ .
 ‘  ’    
 .
      .
    .
  , , ,   
.
   .
    .
     
    .

SY-535 1 P.T.O.

Answer any 8 questions from 1 to 10. Each carries 1 score. (8  1 = 8)

1. “Macro Economics” emerged as a separate branch of Economics after the publication
of the book

(a) Wealth of Nations

(b) Principles of Economics

(c) The General Theory
(d) Nature and significance of Economic Science

2. GNP-Depreciation is

(a) NNP (b) NDP
(c) Gross Value Added (d) National income

3. The demand curve of normal goods shifts rightward, when

(a) Income increases (b) Population increases
(c) Taste and preference increases (d) All of the above

4. Cost per unit of the output is
(a) Variable Cost (b) Marginal Cost

(c) Average Cost (d) Fixed Cost

5. ‘Market Price’ implies
(a) Factor Cost – Depreciation (b) Factor Cost + Net Indirect Tax

(c) Factor Cost + Depreciation (d) Factor Cost – Net Indirect Tax

6. Point on the supply curve at which firm earns only normal profit is
(a) Break-even point (b) Shutdown point

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

SY-535 2

1  10    8  .
1  . (8  1 = 8)
1.    “  ”
     ?
(a) Wealth of Nations
(b) Principles of Economics
(c) The General Theory
(d) Nature and Significance of Economic Science

2. GNP- 
(a) NNP (b) NDP
(c)    (d)  

3.      
(a)   (b)  
(c)    (d)    

4.    
(a)   (b)  
(c)   (d) 

5. ‘’ 
(a)  – 
(b)  +  
(c)  + 
(d)  –   

6.          .
(a) ‘ ’  (b) ‘ ’ 
(c)  (a)  (b)  (d) 
SY-535 3 P.T.O.

7. If the Cash Reserve Ratio is 10%, the value of money multiplier will be

(a) 2.5 (b) 7.5

(c) 10 (d) 5

8. Money is

(a) A medium of exchange (b) A unit of account

(c) Both (a) & (b) (d) None

9. Slope of the Indifference curve

(a) Marginal Rate of Substitution (b) Marginal Opportunity Cost

–P1
(c) (d) None
P2

10. Difference between value of export and import is

(a) Balance of Payment (b) Balance of Trade

(c) Current Account Surplus (d) Capital Account Surplus

Answer any 4 questions from 11 to 15. Each carries 2 scores. (4  2 = 8)

11. Define production possibility curve. Name the slope of the PPC.

12. State how the following factors affect the supply Curve of a firm :

(a) Technological Progress

(b) A rise in input price

SY-535 4

7.    10% ,   

(a) 2.5 (b) 7.5
(c) 10 (d) 5

8. ‘’
(a)    . (b)    
(c) (a)  (b)   (d) 

9.   
(a)   
(b)   
–P1
(c)
P2

(d) 

10. -   

(a)   (b)  
(c)    (d)   

11  15    4  .
2  . (4  2 = 8)
11. ‘ ’   .  
  ?

12.        
  .
(a)   
(b)     

SY-535 5 P.T.O.

13. Name the four major Macro Economic Sectors in an economy.

14. Distinguish between ‘Stock’ and ‘Flow’ variables, with one example each.

15. Define ‘budget’. State any two objectives of the budget.

Answer any 4 questions from 16 to 20. Each carries 3 scores. (4  3 = 12)

16. Match column A with B & C.

A B C

Micro Economics Pricing of a Firm Desirability of a Mechanism

Macro Economics What ought to be Salary of a worker

Normative Economics Inflation Per capita income

17. (a) Name the term used to denote the power of the commodity to subsidy wants. (1)

(b) Write any two features of it. (2)

18. (a) Differentiate between AR & MR. (2)

(b) Prove AR = P (1)

19. Draw the diagram showing circular flow in a two sector model.

20. (a) What is consumption function ? (1)

– &c:
(b) From the following equation of consumption function, identify C
– + cY
C=C (2)
SY-535 6

13.        
 .

14. ‘’ ‘’  ,  
 .

15. ‘ ’  .    
.

16  20    4  .
3  . (4  3 = 12)
16.  A, B  C   .
A B C
    
   
   
 
    


17. (a)     
 . (1)
(b)     . (2)

18. (a) AR, MR   . (2)
(b) AR = P  . (1)

19.        
  .

20. (a)    ? (1)
–
(b)      C, c
  .
–
C = C + cY (2)

SY-535 7 P.T.O.

Answer any 4 questions from 21 to 25. Each carries 4 scores. (4  4 = 16)

21. A consumer bought 5 kg of onion at a price of ` 30/kg. But, when the price increased to
` 40, he bought only 2 kg.
(a) Calculate the price elasticity of demand. (2)
(b) Name any two factors affecting elasticity of demand for a good. (2)

22. Write any four short run costs with equations.

23. Elucidate the features of perfect competition.

24. (a) Find the equilibrium income from the following information :
Autonomous expenditure (Ā) = 90 crores; MPC = 80%
OR
(b) How the equilibrium income is determined in an economy ? Explain with
diagram.

25. (a) Distinguish between revenue receipts and capital receipts. (2)
(b) Write two examples each for revenue and capital receipts. (2)

Answer any 4 questions from 26 to 30. Each carries 5 scores. (4  5 = 20)
26. State the law of variable proportions with the help of a diagram.

27. Examine the profit maximisation conditions of the firm under perfect competition.

28. What will happen to the equilibrium price and output, when
(a) Demand increases (2½)
(b) Supply decreases (2½)
(Explain your answer with the help of diagrams.)
SY-535 8

21  25    4  .
4  . (4  4 = 16)
21.   5 .    30/-  . 
40/-   2   .
(a)    . (2)
(b)      
   . (2)

22.      ,
  .

23.     .

24. (a)       
 .
–
 (A) = 90 
MPC = 80%

(b)       
  .

25. (a) ,      ? (2)
(b) -     . (2)

26  30    4  .
5  . (4  5 = 20)
26.      .

27.      
  .

28. ,    
 ,   .
(a)   (2½)
(b)    (2½)
(   )

SY-535 9 P.T.O.

29. Find saving, apc, mpc, aps and mps in the given table.
Income Consumption Saving apc mpc aps mps
15,000 15,000 – – – –
20,000 18,000
25,000 21,000
30,000 23,500

30. Explain how the exchange rate is determined in flexible exchange rate system.

Answer any 2 questions from 31 to 33. Each carries 8 scores. (2  8 = 16)

31. (a) Write any three properties of indifference curves. (3)

(b) Explain the optimal choice of the consumer, with the help of a diagram. (5)

32. (a) What is GDP ? Differentiate between nominal and real GDP. (3)

(b) Can the GDP of a country be taken as an index of the welfare of the people of that
country ? Explain. (5)

33. (a) “Control of Money Supply” is one of the functions of central bank. Mention other
functions. (3)

(b) Examine the various tools used by the Reserve Bank of India to control money
supply in India. (5)

____________

SY-535 10

29.    , apc, mpc, aps, mps 
.
   apc mpc aps mps
15,000 15,000 – – – –
20,000 18,000
25,000 21,000
30,000 23,500

30.    ,   
.

31  33    2  .
8  . (2  8 = 16)
31. (a)     . (3)
(b)      (optimal)
 . (5)

32. (a)  GDP ?  GDP   GDP   
 ? (3)
(b)   GDP    
 ? . (5)

33. (a) “  ”    
.   . (3)
(b)       
   . (5)

_____________

SY-535 11 P.T.O.

SY-535 12

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