This Paper has 68 answerable questions with 41 answered.
P—3(EBF)
Syllabus 2008 |
| Time Allowed : 3 Hours | Full Marks : 100 |
| The figures in the margin on the right side indicate full marks. |
| SECTION I (60 Marks) |
| Answer Question No. 1 which is compulsory and any two from the rest. |
| Marks |
| 1. | (a) | Answer the following : | 1x9 | |
| | | (i) | Name the author of "Weath of Nations". | (A) | Adam Smith | | (B) | Alfred Marshall | | (C) | J.K.Mehta | | (D) | A.C.Pigou |
| | (1) |
| | | (ii) | Economics is | (A) | Science | | (B) | An Art | | (C) | Science and an Art | | (D) | Psychology |
| | (1) |
| | | (iii) | Deductive Method of Economic Analysis is based on | (A) | General to Particular | | (B) | Particular to General | | (C) | Neutral | | (D) | None of the above |
| | (1) |
| | | (iv) | Money supply constitutes | (A) | Rupee notes and coins with the public | | (B) | Credit cards | | (C) | Traveller’s cheques | | (D) | All the above |
| | (1) |
| | | (v) | Consumers surplus was propounded by | (A) | Alfred Marshall | | (B) | A.C. Pigou | | (C) | J.R.Hicks | | (D) | J.M.Keynes |
| | (1) |
| | | (vi) | Production function is | (A) | Input–output relationship | | (B) | Creation of utility | | (C) | Want satisfying capacity | | (D) | None of the above |
| | (1) |
| | | (vii) | Homogeneous product is the characteristic of | (A) | Perfect competition | | (B) | Monopoly | | (C) | Monopolistic competition | | (D) | Oligopoly |
| | (1) |
| | | (viii) | Non–price competition is the characteristic of | (A) | Monopoly | | (B) | Duopoly | | (C) | Oligopoly | | (D) | Imperfect competition |
| | (1) |
| | | (ix) | A producer or seller selling its commodity at different prices to different customers is | (A) | Discriminating Monoploy | | (B) | Monopoly | | (C) | Perfect competition | | (D) | Duopoly |
| | (1) |
| | (b) | Fill in the blanks : | 1x12 | |
| | | (i) | NNP at market price is GNP _______ depreciation of capital stock. | | (2) |
| | | (ii) | GNP is a wider concept than _______. | | (1) |
| | | (iii) | Average propensity to consume is _______ to c/y. | | (0) |
| | | (iv) | The production of foodgrains according to Malthus increases at an _______ progression. | | (1) |
| | | (v) | Over population is corrected by preventive checks and _______ checks. | | (1) |
| | | (vi) | The formula for the calculation of optimum population is _______. | | (1) |
| | | (vii) | Fisher’s equation is _______. | | (1) |
| | | (viii) | Money is created by the _______ bank. | | (1) |
| | | (ix) | Demand Pull inflation is when aggregate demand _______ aggregate supply. | | (1) |
| | | (x) | When there is continuous rise in price level, it is called _______. | | (1) |
| | | (xi) | Cheap money policy is followed by central bank during _______. | | (0) |
| | | (xii) | Economy in administration is one of the _______ measures during inflation. | | (0) |
| | (c) | State which of the following statement is "True" and which is "False".: | 1x9 | |
| | | (i) | Credit is created by commercial banks. | | (0) |
| | | (ii) | Adequate liquidity is an essential condition of a sound banking system. | | (1) |
| | | (iii) | Size of C.R.R. does not affect the credit creation of commercial banks. | | (0) |
| | | (iv) | Central bank is the custodian of foreign exchange reserves. | | (1) |
| | | (v) | Expansion and contraction of credit are affected by quantitative techniques of credit control. | | (0) |
| | | (vi) | Use and direction of credit are affected by qualitative techniques of credit control. | | (0) |
| | | (vii) | Balance of trade comprises of exports and imports. | | (0) |
| | | (viii) | Balance of payments is broader than balance of trade. | | (0) |
| | | (ix) | Invisible items are included in exports and imports. | | (0) |
| | (d) | Define the following terms in not more than two lines: | 1x6 | |
| | | (i) | Direct Tax, | | (0) |
| | | (ii) | Conon of Economy, | | (0) |
| | | (iii) | Deficit Financing, | | (0) |
| | | (iv) | Fiscal Policy, | | (0) |
| | | (v) | Monetary Policy, | | (0) |
| | | (vi) | Progressive Tax. | | (0) |
| 2. | Write short notes on the following: | 6+6 | |
| | (a) | Functions of Money | | (0) |
| | (b) | Fixed costs and Variable costs. | | (0) |
| 3. | Describe the essentials of a sound banking system and salient features of International trade. | 6+6 | (0) |
| 4. | Discuss the Canons of Taxation. | 12 | (0) |
| SECTION II (40 Marks) |
| Answer Question No. 5 which is compulsory and any two from the rest. |
| 5. | (a) | Answer the following : | 1x6 | |
| | | (i) | All business activities fall under the categories of | (A) | Industry | | (B) | Trade | | (C) | Commerce | | (D) | All the above |
| | (1) |
| | | (ii) | Salient features of a co–operative are | (A) | Voluntary Association | | (B) | Service Motive | | (C) | Equality | | (D) | All the above |
| | (1) |
| | | (iii) | Characteristics of Joint Stock Company are | (A) | Incorporated Association | | (B) | Voluntary Association | | (C) | Artificial legal person | | (D) | All the above |
| | (1) |
| | | (iv) | Which is not the merit of state enterprise? | (A) | Easy formation | | (B) | Acceleration of economic growth | | (C) | Balanced regional development | | (D) | Economy |
| | (1) |
| | | (v) | Advantages of limited partnership are | (A) | Enables people to invest | | (B) | Mobilises larger financial resources | | (C) | More stable | | (D) | All the above |
| | (1) |
| | | (vi) | Which is not the characteristic of Joint Hindu Family Business? | (A) | No registration | | (B) | Only male members | | (C) | Status arises not born in the family | | (D) | Managed by Karta. |
| | (1) |
| | (b) | Fill in the blanks: | 1x6 | |
| | | (i) | A chartered company is incorporated under _______. | | (1) |
| | | (ii) | Unlimited liability of a company means _______ on the liability of its members. | | (0) |
| | | (iii) | A private limited company is better placed to maintain _______ of the affairs of business. | | (1) |
| | | (iv) | The promoter must not make any _______ from the company that he has promoted. | | (1) |
| | | (v) | Memorandum of Association is one of the basic _______ of the company. | | (0) |
| | | (vi) | The first official general meeting of shareholders is called _______ meeting. | | (1) |
| | (c) | State which of the following statement is "True" and which is "False": | 1x6 | |
| | | (i) | One of the social responsibilities of a business is to protect consumer interest. | | (1) |
| | | (ii) | SWOT analysis deals with strength, weaknesses, opportunities and threats of a business. | | (1) |
| | | (iii) | W.T.O. is not a part of international environment. | | (1) |
| | | (iv) | Clarity of message is one of the principles of effective communication. | | (1) |
| | | (v) | Motivation to employees is not an objective of communication. | | (1) |
| | | (vi) | Sending Written message through telecommunication link is called e–mail. | | (1) |
| | (d) | Define the following terms in not more than two lines: | 1x6 | |
| | | (i) | Stock Exchange, | | (1) |
| | | (ii) | Jobbers, | | (1) |
| | | (iii) | Stag, | | (1) |
| | | (iv) | Contract note, | | (1) |
| | | (v) | Brokers, | | (1) |
| | | (vi) | Forward delivery contracts. | | (0) |
| 6. | Write short notes on: | 4+4 | |
| | (a) | Registration of partnership; | | (0) |
| | (b) | Salient features of public company. | | (0) |
| 7. | Discuss the various objectives of a business. | 8 | (0) |
| 8. | Describe the essential elements in the process of an effective communication system. | 8 | (0) |
