This Paper has 63 answerable questions with 0 answered.
C—3(EBF)
Revised Syllabus |
| Time Allowed : 3 Hours | Full Marks : 100 |
| The figures in the margin on the right side indicate full marks. |
SECTION I (50 marks) |
| Answer Question No.1 which is compulsory and any two from the rest. |
| Marks |
| 1. | (a) | Answer the following : | 1x7 | |
| | | (i) | The Ricardian theory considers rent as: | (A) | A net surplus | | (B) | A gross surplus | | (C) | A differential surplus | | (D) | None of these |
| | (0) |
| | | (ii) | The modern theory of interest considers the factor of: | (A) | Investment and Savings | | (B) | Liquidity Preference | | (C) | Money supply | | (D) | All above |
| | (0) |
| | | (iii) | Canons of Taxation propounded by Adam Smith are: | (A) | Equity, Certainty, Convenience and Economy | | (B) | Certainity, Convenience, Economy and Elasticity. | | (C) | Economy, Conveniences, Simplicity and Sufficiency | | (D) | Economy, Co–ordination, Convenience and Expendiency. |
| | (0) |
| | | (iv) | The definition "Economics is a science of wealth," is given by: | (A) | J.S.Mill | | (B) | Adam Smith | | (C) | A.C.Pigou | | (D) | Marshall |
| | (0) |
| | | (v) | Price mechanism is a process through which; | (A) | Price is automatically determined | | (B) | Optimum price is fixed | | (C) | Equilibrium price is obtained | | (D) | None of the above. |
| | (0) |
| | | (vi) | If demand is inelastic, a rise in price; | (A) | Makes no change in consumer expenditure | | (B) | Increases consumer expenditure | | (C) | Decreases consumer expenditure | | (D) | Cannot determine consumer expenditure. |
| | (0) |
| | | (vii) | A fall in the price of a commodity causes: | (A) | A fall in quantity supplied | | (B) | A fall in the price of substitutes | | (C) | A fall in the increase of the producer | | (D) | None of the above. |
| | (0) |
| | (b) | Fill in the blanks : | 1x7 | |
| | | (i) | Money is a _______ of exchange. | | (0) |
| | | (ii) | The factor cost of land is _______ | | (0) |
| | | (iii) | Creation of utility is called _______ | | (0) |
| | | (iv) | Total utility is maximum when marginal utility is _______ | | (0) |
| | | (v) | "Economics is a study of mankind in the _______ business of life". | | (0) |
| | | (vi) | Demand for necessaries is likely to be _______ | | (0) |
| | | (vii) | The wages paid to workers in terms of money are known as _______ | | (0) |
| | (c) | State which of the following statement is "True" and which is "False".: | 1x6 | |
| | | (i) | Indifference curves never touch the two axis. | | (0) |
| | | (ii) | In modern economics, consumer is sovereign. | | (0) |
| | | (iii) | Demand curve slopes downwards because it is based upon law of diminishing marginal utility. | | (0) |
| | | (iv) | The law of diminishing return is applied only in the case of agriculture. | | (0) |
| | | (v) | Market price remains never to equilibrium price. | | (0) |
| | | (vi) | Uncertainty theory of profit was given by Schumpeter. | | (0) |
| | (d) | Define the following terms in not more than two lines: | 1x6 | |
| | | (i) | Normal price | | (0) |
| | | (ii) | Bank rate | | (0) |
| | | (iii) | Quasi–rent | | (0) |
| | | (iv) | Inflation | | (0) |
| | | (v) | Deficit financing | | (0) |
| | | (vi) | Consumer’s surplus. | | (0) |
| 2. | Explain the law of diminishing marginal utility. What are the limitations of the law? | 8+4 | (0) |
| 3. | What is taxable capacity? Discuss the factors upon the which taxable capacity of an individual depends? | 4+8 | (0) |
| 4. | Explain how price is determined under perfect competition? Illustrate your answer with diagram. | 8+4 | (0) |
| SECTION II |
| Answer Question No. 5 which is compulsory and any two from the rest. |
| 5. | (a) | Answer the following : | 1x7 | |
| | | (i) | A public limited company can start its business after obtaining: | (A) | Certificate of incorporation | | (B) | Listing certificate | | (C) | Certificate of commencement of business. | | (D) | Issue of shares |
| | (0) |
| | | (ii) | State enterprises are: | (A) | Owned, managed and controlled by the state. | | (B) | Controlled by the state. | | (C) | Owned by the state. | | (D) | None of the above. |
| | (0) |
| | | (iii) | Membership is achieved in Joint Hindu Family Business: | (A) | On becoming major | | (B) | By birth | | (C) | On demand | | (D) | On recommendation. |
| | (0) |
| | | (iv) | The most important characteristic of a joint stock company is: | (A) | Limited liability | | (B) | Transferability of shares | | (C) | Wide scope | | (D) | Establishment by law |
| | (0) |
| | | (v) | The primary object of a co–operative organisation is: | (A) | Provide service | | (B) | Earn profit | | (C) | Sell quality goods | | (D) | Misuse of Govt. assistance. |
| | (0) |
| | | (vi) | The primary objective of establishing public enterprises is: | (A) | Economic | | (B) | Social | | (C) | Social–Economic | | (D) | Economic Social. |
| | (0) |
| | | (vii) | Securities Contracts (Regulation) Act was passed: | (A) | in 1988 | | (B) | in 1992 | | (C) | in 1996 | | (D) | in 1956. |
| | (0) |
| | (b) | Fill in the blanks: | 1x7 | |
| | | (i) | Debentureholders are _______ of the company | | (0) |
| | | (ii) | Sole trading is the best for _______ business. | | (0) |
| | | (iii) | The admission of a new partner in partnership is by _______ | | (0) |
| | | (iv) | Registration of a company is _______ | | (0) |
| | | (v) | The maximum number of members in a co–operative society can be _______ | | (0) |
| | | (vi) | The minimum investment of the government in the capital invested in public enterprises is _______ | | (0) |
| | | (vii) | Under depository scheme _______ is deposited. | | (0) |
| | (c) | State which of the following statement is "True" and which is "False": | 1x6 | |
| | | (i) | Memorandum of Association explains the relationship between the company and its employees. | | (0) |
| | | (ii) | 21 clear days’ notice must be served to hold a Board meeting. | | (0) |
| | | (iii) | Full protection is provided to minority in partnership. | | (0) |
| | | (iv) | The existence of company is distinct from member. | | (0) |
| | | (v) | Public enterprise is a tool of exploitation. | | (0) |
| | | (vi) | Stock Exchange is the barometer of a country’s prosperity. | | (0) |
| | (d) | Define the following terms in not more than two lines: | 1x6 | |
| | | (i) | A Tejiwalla | | (0) |
| | | (ii) | A foreign company | | (0) |
| | | (iii) | Minor as a partner | | (0) |
| | | (iv) | Jobber | | (0) |
| | | (v) | SWOT | | (0) |
| | | (vi) | Convertible debenture. | | (0) |
| 6. | Define communication, Discuss the steps involved for an effective communication system. | 4+8 | (0) |
| 7. | Discuss the various stages in the formation of a public joint stock company. | 12 | (0) |
| 8. | Write short notes on any three of the following: | 4+4+4 | |
| | (a) | Articles of Association | | (0) |
| | (b) | Registration of Partnership | | (0) |
| | (c) | Preference Shares | | (0) |
| | (d) | Statutory Company | | (0) |
| | (e) | Annual General Meeting | | (0) |
| | (f) | Economic Objectives of Business. | | (0) |
