AHSEC HS 2nd Year Question Paper 2019 Economics

Total number of pages – 8
29T ECON

2019

ECONOMICS

Full Marks : 100

Pass Marks : 30

Time : Three hours

The figures in the margin indicate full marks
for the questions.

Part A [fl¡ - ’—˙]
Q. No. 1 (a – f ) carries 1 mark each 1×6 = 6
Q. No. 2 – 7 carries 2 marks each 2×6 = 12
Q. No. 8 –12 carries 4 marks each 4×5 = 20
Q. No. 13 & 14 carries 6 marks each 6×2 = 12
Total = 50

Part B [‡ - ’—˙]
Q. No. 15 (a – f ) carries 1 mark each 1×6 = 6
Q. No. 16 – 21 carries 2 marks each 2×6 = 12
Q. No. 22 –26 carries 4 marks each 4×5 = 20
Q. No. 27 & 28 carries 6 marks each 6×2 = 12
Total = 50
Total (Part A & B) : 50 + 50 = 100

Contd.

PART–A / fl¡- ’—˙

1. (a) Define the term scarcity as used in economics. 1
’Ô«ÚœøÓ¬Ó¬ ¬ı…ª˝+Ó¬ ≈©x±¬Û…Ó¬±1 Ò±1̱ÀȬ±1 ¸—:± ø˚˛±º
(b) What is opportunity cost ? 1
¸≈À˚±· ¬ı…˚˛ øfl¬ ∑
(c) If marginal utility of a commodity is higher than the price, then the
consumer will buy more of the commodity. 1
(Write true or false)
˚ø ¤È¬± ^¬ı…1 √õ∂±øôL√fl¬ ά◊¬ÛÀ˚±ø·Ó¬± ^¬ı…ÀȬ±1 1Ó¬Õfl¬ ’øÒfl¬ ˝˚˛, ŒÓ¬ÀôL√ ά◊¬ÛÀˆ¬±Mê±˝◊
^¬ı…ÀȬ± Sê˚˛1 ¬Ûø1˜±Ì ¬ı‘øX fl¬ø1¬ıº [qX ŒÚ ’qX ø˘‡±]
(d) What will be the effect of price change on supply of a commodity
with perfectly inelastic supply ? 1
¸•Û”Ì« ’ø¶öøÓ¬¶ö±¬Ûfl¬ Œ˚±·±Ú¸•Ûiß ¤È¬± ^¬ı…1 Œé¬SÓ¬ 1 ¬Ûø1ªÓ¬«Ú1 √õ∂ˆ¬±ª øfl¬ ˝í¬ı ∑
(e) How will an increase in the price of inputs shift the supply curve ?
1
ά◊¬Û±±Ú¸˜”˝1 1-¬ı‘øXÀ˚˛ Œ˚±·±Ú Œ1‡±1 Œfl¬ÀÚ ¶ö±Ú±ôL√ 1 ¸±ÒÚ fl¬ø1¬ı ∑
(f) What is shut-down price ? 1
Ó¬˘±¬ıg ±˜ øfl¬ ∑
2. Why the production possibility curve slopes downward from left to right ?
2
ά◊»¬Û±Ú ¸y√√±ªÚœ˚˛Ó¬± Œ1‡± øfl¬˚˛ ¬ı±›“Ù¬±˘1 ¬Û1± Œ¸“±Ù¬±˘Õ˘ øڕߘ≈‡œ Ϭ±˘˚≈Mê ˝˚˛ ∑
3. Give two reasons of a leftward shift in the demand curve. 2
‰¬±ø˝± Œ1‡± ¬ı±›“Ù¬±À˘ ¶ö±Ú±ôL√ø1Ó¬ fl¬1±1 ≈Ȭ± fl¬±1Ì Î¬◊À~‡ fl¬1±º
4. The price elasticity of demand of a commodity is 4 and the percentage
change in price is 8. Find the percentage change in the quantity
demanded. 2
¤È¬± ^¬ı…1 ‰¬±ø˝±1 1 ø¶öøÓ¬¶ö±¬Ûfl¬Ó¬± 4 ’±1n∏ 11 ˙Ó¬fl¬1± ¬Ûø1ªÓ«¬Ú 8. ‰¬±ø˝±1 ¬˙Ó¬fl¬1±
¬Ûø1ªÓ«¬Ú ·ÌÚ± fl¬1±º
5. What is fixed factor ? Give one example. 1+1=2
ø¶ö1 ά◊¬Û±±Ú øfl¬ ∑ ¤È¬± ά◊±˝1Ì ø˚˛±º
29T ECON [2]

6. What is meant by inelastic supply ? Draw an inelastic supply curve.
1+1=2
’ø¶öøÓ¬¶ö±¬Ûfl¬ Œ˚±·±Ú øfl¬ ∑ ¤Î¬±˘ ’ø¶öøÓ¬¶ö±¬Ûfl¬ Œ˚±·±Ú Œ1‡± ’—fl¬Ú fl¬1±º
7. Mention two differences between monopoly and perfectly competitive
market. 2
¤fl¬À‰¬øȬ˚˛± ¬ıʱ1 ’±1n∏¬ ¬Û”Ì« √õ∂øÓ¬À˚±ø·Ó¬±˜”˘fl¬ ¬ıʱ11 ≈Ȭ± ¬Û±Ô«fl¬… ά◊À~‡ fl¬1±º
8. Distinguish between change in quantity demanded and change in
demand. 4
‰¬±ø˝±1 ¬Ûø1˜±Ì1 ¬Ûø1ªÓ«¬Ú ’±1n∏ ‰¬±ø˝±1 ¬Ûø1ªÓ«¬Ú1 ˜±Ê1 ¬Û±Ô«fl¬… Œ‡≈›ª±º
9. Mention the relationship between total utility and marginal utility. 4
˜≈ͬ ά◊¬ÛÀ˚±ø·Ó¬± ’±1n∏ √õ∂±øôL√fl¬ ά◊¬ÛÀ˚±ø·Ó¬±1 ˜±Ê1 ¸•Ûfl«¬ ά◊À~‡ fl¬1±º¬
10. What is variable cost ? Why the average variable cost (AVC) curve
becomes U shaped ? 1+3=4
¬Ûø1ªÓ«¬Ú˙œ˘ ¬ı…˚˛ øfl¬ ∑ ·Î¬ˇ ¬Ûø1ªÓ«¬Ú˙œ˘ ¬ı…˚˛ Œ1‡± (AVC) øfl¬˚˛ U ’±fl‘¬øÓ¬1 ∑
11. The production function of a firm is Q = 2L½ . K 2 .

Find the amount required of factor K if the firm wants to produce 200
units with available 16 units of factor L .
(Q = Output, K=Capital, L = Labour) 4

¤‡Ú ¬ı…ª¸±˚˛ √õ∂øӬᬱÚ1 ά◊»¬Û±Ú Ù¬˘ÚÀȬ± ˝í˘ Q = 2L½ . K 2 º √õ∂øӬᬱڇÀÚ √õ∂±‰≈¬˚« 16 ¤fl¬fl¬
L ά◊¬Û±±Ú1 √õ∂À˚˛±À·À1 200 ¤fl¬fl¬ ^¬ı… ά◊»¬Û±Ú fl¬ø1¬ı ø¬ı‰¬±ø1À˘ √õ∂À˚˛±ÊÚ Œ˝±¬ª±
K-ά◊¬Û±±Ú1 ¬Ûø1˜±Ì ·ÌÚ± fl¬1±º [Q = ά◊¬»¬Û±Ú1 ¬Ûø1˜±Ì, K = ˜”˘ÒÚ, L = |˜]º

12. Mention the effects of the following on the supply of a commodity.
2+2=4
(i) Fall in the price of factors.
(ii) Rise in the per unit tax.
¤È¬± ^¬ı…1 Œ˚±·±Ú1 ›¬Û1Ó¬ Ó¬˘Ó¬ ά◊À~‡ fl¬1± ¸˜”˝1 √õ∂ˆ¬±ª ά◊À~‡ fl¬1±º
(i) ά◊¬Û±±Ú¸˜”˝1 11 ˝ò±¸º
(ii) √õ∂øÓ¬ ¤fl¬fl¬ ^¬ı…Ó¬ fl¬1 ¬ı‘øXº

29T ECON [3] Contd.

13. Explain the Law of Variable Proportion with diagram. 6

ø‰¬S1 ¸˝±˚˛Ó¬ ¬Ûø1ªÓ¬Ú«˙œ˘ ά◊¬Û±±Ú ø¬ıøÒÀȬ± ¬ı…±‡…± fl¬1±º
Or / ’Ô¬ı±

The total fixed cost of a firm is Rs. 200. Fill in the blanks of the following
table. 6

¤‡Ú √õ∂øӬᬱÚ1 ˜≈ͬ ø¶ö1 ¬ı…˚˛1 ¬Ûø1˜±Ì 200 Ȭfl¬±º Ó¬˘1 Ó¬±ø˘fl¬±‡Ú ¸•Û”Ì« fl¬1±º

Output TC AC AVC MC
ά◊»¬Û±Ú
1 — — 100 —
2 460 — — —
3 — 250 — —
4 — — — 230

14. Explain the process of Long-run Equilibrium Price determination of
perfectly competitive industry with diagram.
6
¬Û”Ì« √õ∂øÓ¬À˚±ø·Ó¬±˜≈˘fl¬ ά◊À…±·1 œ‚«fl¬±˘œÚ ˆ¬±1¸±˜… 1 øÚÒ«±1Ì1 √õ∂øSê˚˛±ÀȬ± ø‰¬S1 Êø1˚˛ÀÓ¬
¬ı…±‡…± fl¬1±º
Or / ’Ô¬ı±

Show the effects of change in demand of a commodity on equilibrium
price, if 3+3=6

(i) the supply of the commodity is perfectly elastic

(ii) the supply of the commodity is perfectly inelastic.

¤È¬± ^¬ı…1 ˆ¬±1¸±˜… 11 ›¬Û1Ó¬ ‰¬±ø˝± ¬Ûø1¬ıÓ«¬Ú1 √õ∂ˆ¬±ª Œ‡≈ª± ˚øÀ˝ ñ
(i) ^¬ı…ÀȬ±1 Œ˚±·±Ú ¬Û”Ì« ø¶öøÓ¬¶ö±¬Ûfl¬
(ii) ^¬ı…ÀȬ±1 Œ˚±·±Ú ¬Û”Ì« ’ø¶öøÓ¬¶ö±¬Ûfl¬º

29T ECON [4]

PART–B / ‡-’—˙

15. (a) In what circumstances, the GDP of an economy can be equal to
GNP ? 1
øfl¬ ’ª¶ö±Ó¬ ¤‡Ú Œ˙1 GDP, GNP 1 ¸˜±Ú ˝¬ı ¬Û±À1∑
(b) What is transfer payment ? 1
˝ô¶∏±ôL√ø1Ó¬ ¬Ûø1À˙±Ò øfl¬ ∑
(c) What is voluntary unemployment ? 1
Œ¶§2±fl‘¬Ó¬ øÚ¬ıÚ≈ª± øfl¬ ∑
(d) What is Break-Even income ? 1
¸˜Ó¬±ˆ¬—· ’±˚˛ øfl¬ ∑
(e) What is the full form of GST ? 1
GST 1 ¸•Û”Ì« 1+¬ÛÀȬ± øfl¬ ∑

(f) What is zero primary deficit ? 1
˙”Ú… √õ∂±Ôø˜fl¬ ‚±øȬ øfl¬ ∑

16. Mention two subject matters of Macroeconomics. 2
¸˜ø©Ü¬ı±œ ’Ô«¬ø¬ı:±Ú1 ≈Ȭ± ø¬ı¯∏˚˛¬ıd ά◊À~‡ fl¬1±º

17. Mention any two types of leakages found in the Circular Flow of Income.
2
’±˚˛1 ‰¬Sêœ˚˛ √õ∂ª±˝Ó¬ ά◊æª Œ˝±ª± ø˚Àfl¬±ÀÚ± ≈Ȭ± ¸≈1n∏„±1 ø¬ı¯∏À˚˛ ά◊À~‡ fl¬1±º

18. What is investment multiplier ? Write the relationship between investment
multiplier and MPC. 1+1=2
ø¬ıøÚÀ˚˛±· &Ìfl¬ øfl¬ ∑ ø¬ıøÚÀ˚˛±· &Ìfl¬ ’±1n∏ MPC-1 ˜±Ê1 ¸•Ûfl«¬ÀȬ± ø˘‡±º

29T ECON [5] Contd.

19. Mention the two primary functions of money. 2
˜≈^±1 ≈Ȭ± ˜≈‡… fl¬±˚« ά◊À~‡ fl¬1±º

20. Mention two differences between revenue receipts and capital receipts.
2
¬1±Ê˝ √õ∂±ø5 ’±1n∏ ˜”˘ÒÚœ √õ∂±ø51 ˜±Ê1 ≈Ȭ± ¬Û±Ô«fl¬… ø˘‡±º

21. State two sources of supply of foreign currency. 1+1=2
Δ¬ıÀø˙fl¬ ˜≈^±1 Œ˚±·±Ú1 ≈Ȭ± ά◊»¸ ά◊À~‡ fl¬1±º

22. The value of MPC of an economy is 0· 4. What amount of new investment
is required to generate new income of Rs. 500 crore in the economy ?
4
¤‡Ú ’Ô«ÚœøÓ¬Ó¬ MPC 1 ˜±Ú 0· 4º ’Ô«ÚœøÓ¬‡ÚÓ¬ ÚÓ≈¬ÚÕfl¬ 500 Œfl¬±øȬ Ȭfl¬± ’±˚˛ √õ∂ª±ø˝Ó¬ fl¬1±1
¬ı±À¬ı øfl¬ ¬Ûø1˜±Ì1 ÚÓ≈¬Ú ø¬ıøÚÀ˚˛±·1 √õ∂À˚˛±ÊÚ ˝¬ı ∑

23. Explain any two fiscal measures to solve the problems of excess demand in
an economy. 2+2=4
¤‡Ú ’Ô«ÚœøÓ¬1 ’Ó¬…øÒfl¬ ‰¬±ø˝±1 ¸˜¸…± ¸˜±Ò±Ú fl¬1±1 ¬ı±À¬ı ø˚Àfl¬±ÀÚ± ≈Ȭ± 1±ÊÀfl¬±¯∏œ˚˛ ¬ı…ª¶ö±
¬ı…±‡…± fl¬1±º

24. Mention four factors causing disequilibrium in Balance of Payment of a
country. 4
¤‡Ú Œ˙1 ¬Ûø1À˙±Ò ¸˜Ó¬±Ó¬ ˆ¬±1¸±˜…˝œÚÓ¬± ¸‘ø©Ü fl¬1± ‰¬±ø1Ȭ± ά◊¬Û±±Ú ά◊À~‡ fl¬1±º

25. Write down four differences between Direct Tax and Indirect Tax. 4
√õ∂Ó¬…é¬ fl¬1 ’±1n∏ ¬ÛÀ1±é¬ fl¬11 ˜±Ê1 ‰¬±ø1Ȭ± ¬Û±Ô«fl¬… ø˘‡±º

26. What is Budget Deficit ? What are the three types of Budgetary Deficit ?
1+3=4
¬ı±ÀÊȬ ‚±øȬ øfl¬ ∑ ¬ı±ÀÊȬ ‚±øȬ1 øÓ¬øÚȬ± √õ∂fl¬±1 øfl¬ øfl¬ ∑

29T ECON [6]

27. Describe the Circular Flow of Income in a Three Sector Economy. 6
¤‡Ú øÓ¬øÚȬ± ‡G˚≈Mê ’Ô«ÚœøÓ¬1 ’±˚˛1 ‰¬Sêœ˚˛ √õ∂ª±˝1 ø¬ıª1Ì ø˚˛±º
Or / ’Ô¬ı±
Explain the Expenditure Method of calculating Gross Domestic Product
(GDP). 6
˜≈ͬ ‚1n∏ª± ά◊»¬Û±Ú ·ÌÚ±1 ¬ı…˚˛ ¬ÛXøÓ¬ÀȬ± ¬ı…±‡…± fl¬1±º

28. Explain the process of credit creation by commercial banks. 6
¬ı±øÌøÊ…fl¬ Œ¬ı—fl¬1 Ÿ¬Ì ¸‘ø©Ü1 √õ∂øSê˚˛±ÀȬ± ¬ı…±‡…± fl¬1±º
Or / ’Ô¬ı±
Describe the Quantitative methods adopted by the Central Bank to control
credit created by commercial banks. 6
¬ı±øÌøÊ…fl¬ Œ¬ı—Àfl¬ ¸‘ø©Ü fl¬1± Ÿ¬Ì øÚ˚˛LaÌ1 ¬¬ı±À¬ı Œfl¬fœ˚˛ Œ¬ı—Àfl¬ ¢∂˝ Ì fl¬1± ¬Ûø1˜±Ì·Ó¬ ¬ÛXøÓ¬ÀȬ±
’±À˘±‰¬Ú± fl¬1±º

———— ×————

29T ECON [7]

29T ECON [8] 165+