This Paper has

**67**answerable questions with**0**answered.Roll No……… | |

Time allowed : 3 hours | Maximum marks : 100 |

Total number of questions : 8 | Total number of printed pages : 3 |

PART — A | |

(Answer Question No.1 which is compulsory and any two of the rest from this part.) |

1. | (a) | State, with reasons in brief, whether the following statements are correct or incorrect: | ||||||||||||

(i) | In economics, controlled experiments are possible. | (0) | ||||||||||||

(ii) | Demand for a commodity by a consumer is not the same thing as his desire to buy it. | (0) | ||||||||||||

(iii) | In a modern economy, most of the production takes place for self-consumption. | (0) | ||||||||||||

(iv) | A trade deficit invariably means a deficit on the current account in balance of payments. | (0) | ||||||||||||

(v) | The evolution of money is a discontinuous process. | (0) | ||||||||||||

(2 marks each) | ||||||||||||||

(b) | Choose the most appropriate answer from the given options in respect of the following: | |||||||||||||

(i) | Human wants are –
| (0) | ||||||||||||

(ii) | In a capitalist economy, basic economic problems are primarily solved by —
| (0) | ||||||||||||

(iii) | If a product is inferior, then income effect is —
| (0) | ||||||||||||

(iv) | Total product is maximum, when —
| (0) | ||||||||||||

(v) | In the short run, total cost is equal to —
| (0) | ||||||||||||

(vi) | A firm in the perfect competition faces a —
| (0) | ||||||||||||

(vii) | A firm maximises profits where —
| (0) | ||||||||||||

(viii) | The sector of the Indian economy which provides largest employment is —
| (0) | ||||||||||||

(ix) | The agency that estimates national income in India is —
| (0) | ||||||||||||

(x) | The Reserve Bank of India was nationalised in the year —
| (0) | ||||||||||||

(1 mark each) | ||||||||||||||

2. | (a) | Distinguish between any three of the following : | ||||||||||||

(i) | ‘Cardinal utility’ and ‘ordinal utility’. | (0) | ||||||||||||

(ii) | ‘Inferior goods’ and ‘Giffen goods’. | (0) | ||||||||||||

(iii) | ‘GDP at factor cost’ and ‘GDP at market price’. | (0) | ||||||||||||

(iv) | ‘Primary deposits’ and ‘derived deposits’. | (0) | ||||||||||||

(3 marks each) | ||||||||||||||

(b) | Re–write the following sentences after filling–up the blank spaces with appropriate word(s)/figure(s): | |||||||||||||

(i) | A consumer compares _____________ from the goods purchased with the price to be paid for it. | (0) | ||||||||||||

(ii) | Addition to total cost on account of the production of an additional unit is called _____________. | (0) | ||||||||||||

(iii) | The process of rapid industrialisation of the Indian economy began with _____________ plan. | (0) | ||||||||||||

(iv) | The base year for the current new series of national income estimates in India is _____________. | (0) | ||||||||||||

(v) | The acquisition of fixed assets and accumulation of stocks is known as _____________. | (0) | ||||||||||||

(vi) | _____________ of demand measures the responsiveness of the quantity demanded of a good to changes in its own price, other things remaining the same. | (0) | ||||||||||||

(1 mark each) | ||||||||||||||

3. | Attempt any three of the following : | |||||||||||||

(i) | "Economics can be defined as a study of an economic system." Elaborate. | (0) | ||||||||||||

(ii) | "Capital is a man-made productive resource." Explain. | (0) | ||||||||||||

(iii) | Discuss the negative impact of high population growth on economic development. | (0) | ||||||||||||

(iv) | Discuss the currency note issue function of the Central Bank. | (0) | ||||||||||||

(v) | State the objectives of World Trade Organisation (WTO). | (0) | ||||||||||||

(5 marks each) | ||||||||||||||

4. | Attempt any three of the following: | |||||||||||||

(i) | Discuss the significance of irrigation for agriculture operations in India. What are the drawbacks of irrigation system in our country ? | (0) | ||||||||||||

(ii) | What is ‘price discrimination’ ? State the conditions necessary for price discrimination. | (0) | ||||||||||||

(iii) | What do you mean by ‘globalisation’ ? Mention the sources of gains from globalisation. | (0) | ||||||||||||

(iv) | Explain Fisher’s version of Quantity Theory of Money. | (0) | ||||||||||||

(v) | Discuss two immediate causes of economic crisis of 1991 in India. | (0) | ||||||||||||

(5 marks each) |

PART — B | |

(Answer Question No.5 which is compulsoryand any two of the rest from this part.) |

5. | (a) | State, with reasons in brief, whether the following statements are correct or incorrect : | |||||||||||||||

(i) | Statistics studies qualitative phenomenon. | (0) | |||||||||||||||

(ii) | Sample study is suitable for large universe. | (0) | |||||||||||||||

(iii) | Geometric mean cannot be calculated if one or more observations are zero or negative. | (0) | |||||||||||||||

(iv) | Two variables having cause and effect relationship would have high correlation coefficient, but converse is not true. | (0) | |||||||||||||||

(v) | Any year can be chosen as base year while constructing index numbers. | (0) | |||||||||||||||

(2 marks each) | |||||||||||||||||

(b) | Choose the most appropriate answer from the given options in respect of the following : | ||||||||||||||||

(i) | Statistics in plural sense refers to —
| (0) | |||||||||||||||

(ii) | A researcher would prefer primary data when –
| (0) | |||||||||||||||

(iii) | The measure of central tendency which is most affected by extreme observations is —
| (0) | |||||||||||||||

(iv) | Out of the following which is not a measure of dispersion —
| (0) | |||||||||||||||

(v) | The graphical representation of cumulative frequencies is termed as —
| (0) | |||||||||||||||

(vi) | r^{2} represents —
| (0) | |||||||||||||||

(vii) | Study of time series enables us —
| (0) | |||||||||||||||

(viii) | Time reversal test is satisfied by —
| (0) | |||||||||||||||

(ix) | Out of the following which is a positional average —
| (0) | |||||||||||||||

(x) | Seasonal variations in the time series can be observed if the time interval between successive observations is —
| (0) | |||||||||||||||

(1 mark each) | |||||||||||||||||

6. | (a) | Distinguish between any three of the following: | |||||||||||||||

(i) | ‘Exclusive class’ and ‘inclusive class’. | (0) | |||||||||||||||

(ii) | ‘Line diagram’ and ‘simple bar diagram’. | (0) | |||||||||||||||

(iii) | ‘Deciles’ and ‘percentiles’. | (0) | |||||||||||||||

(iv) | ‘Quantity index numbers’ and ‘value index numbers’. | (0) | |||||||||||||||

(3 marks each) | |||||||||||||||||

(b) | Re–write the following sentences after filling–up the blank spaces with appropriate word(s)/figure(s) : | ||||||||||||||||

(i) | Descriptive statistics deals with _____________. | (0) | |||||||||||||||

(ii) | Systematic arrangement of data into rows and columns is known as _____________. | (0) | |||||||||||||||

(iii) | The difference between the largest and the smallest observation is called _____________. | (0) | |||||||||||||||

(iv) | Probable error is a measure to test the reliability of an observed _____________. | (0) | |||||||||||||||

(v) | When the value of dependent variable changes by a constant percentage, it is called _____________. | (0) | |||||||||||||||

(vi) | _____________ is a branch of applied mathematics which specialises in data. | (0) | |||||||||||||||

(1 mark each) | |||||||||||||||||

7. | (a) | Discuss the usefulness of statistics in economics. | (0) | ||||||||||||||

(5 marks) | |||||||||||||||||

(b) | To be a good statistical average, it must meet certain requisites. Discuss. | (0) | |||||||||||||||

(5 marks) | |||||||||||||||||

(c) | A helicopter flies around a square field, the sides of which measure 100 kms. each. The helicopter covers at a speed of 100 kms. per hour the first side, at 200 kms. per hour the second side, at 300 kms. per hour the third side and 400 kms. per hour the fourth side. Find out the average speed round the square. | (0) | |||||||||||||||

(5 marks) | |||||||||||||||||

8. | Attempt any three of the following : | ||||||||||||||||

(i) | Calculate standard deviation and co-efficient of variation from the following data using step deviation method :
| (0) | |||||||||||||||

(ii) | Calculate the trend values by the method of moving averages for the data given below. Assume that in the given sales data, 4-yearly cyclical variations is observed:
| (0) | |||||||||||||||

(iii) | From the following chain base index numbers, find the fixed base index numbers :
| (0) | |||||||||||||||

(iv) | Calculate Karl Pearson’s co–efficient of correlation for the following data regarding price and demand of sugar using 25 and 16 respectively as the assumed average price per kg. (in Rs.) and average quantity demanded (in ‘000 kgs.) :
| (0) | |||||||||||||||

(5 marks each) |