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 central problem of all economics is | (A) | Wants are unlimited | | (B) | Means are unlimited | | (C) | Wants are unlimited and means are limited and they have alternative uses | | (D) | None of the above. |
| | (0) |
| | | (ii) | Short–run production function is based on | (A) | Fixed factors | | (B) | Variable factors | | (C) | Fixed and variable factors | | (D) | None of the above |
| | (0) |
| | | (iii) | Real wage is | (A) | Wage measured in terms of physical units | | (B) | Wage measured in terms of monetary units | | (C) | Wage expressed in terms of foreign currency | | (D) | None of the above |
| | (0) |
| | | (iv) | Normal price is a | (A) | Short term price | | (B) | Long term price | | (C) | Highly unstable price | | (D) | None of the above |
| | (0) |
| | | (v) | NABARD is set up in: | (A) | December 2004 | | (B) | June 1984 | | (C) | July 1982 | | (D) | None of the above |
| | (0) |
| | | (vi) | Moral suasion is a | (A) | Tool of fiscal policy | | (B) | Tool of qualitative credit control policy | | (C) | Tool of industrial policy | | (D) | None of the above |
| | (0) |
| | | (vii) | When a firm has a unique relation between price and output demanded and supplied, it is called | (A) | Multiple equilibrium | | (B) | Single equilibrium | | (C) | Perfect equilibrium | | (D) | None of the above |
| | (0) |
| | (b) | Fill in the blanks: | 1x7 | |
| | | (i) | Alfred Marshall’s definition of economics is concerned with ________ | | (0) |
| | | (ii) | Consumer’s surplus and price are________related. | | (0) |
| | | (iii) | The guiding star of capitalism is ________. | | (0) |
| | | (iv) | ________ policy is the policy of the government relating to its public expenditure, receipts and borrowing. | | (0) |
| | | (v) | ________ monopoly charges different prices to different buyers. | | (0) |
| | | (vi) | When aggregate demand exceeds aggregate supply, it is termed as ________ inflation. | | (0) |
| | | (vii) | Money is a measure of ________. | | (0) |
| | (c) | State which of the following statement is "True" and which is "False": | 1x6 | |
| | | (i) | Law of returns operate in short period. | | (0) |
| | | (ii) | The price elasticity of demand for a commodity may be more elastic or less elastic. | | (0) |
| | | (iii) | Quasi–rent is received from land only | | (0) |
| | | (iv) | ‘Good money drives had money out of circulation’ —is called Gresham’s law. | | (0) |
| | | (v) | The easiest way to tide over deficit in budget is to print more currency. | | (0) |
| | | (vi) | Exports permits imports | | (0) |
| | (d) | Define the following terms in not more than two lines: | 1x6 | |
| | | (i) | Disguised unemployment | | (0) |
| | | (ii) | Recession | | (0) |
| | | (iii) | Average propensity to consume | | (0) |
| | | (iv) | Economic growth | | (0) |
| | | (v) | Mixed economy | | (0) |
| | | (vi) | Cannons of taxation. | | (0) |
| 2. | Define elasticity of demand. Discuss its various determinants. | 4+8 | (0) |
| 3. | Discuss the Recardian Theory of Rent and point out its limitations. | 8+4 | (0) |
| 4. | What do you understand by bank rate policy? Distinguish between the Central Bank and Commericial Bank. | 4+8 | (0) |
| SECTION II |
| Answer Question No. 5 which is compulsory and any two from the rest. |
| 5. | (a) | Answer the following : | 1x7 | |
| | | (i) | Articles of Association can be altered by | (A) | A resolution of Board of Directors | | (B) | An ordinary resolution in annual general meeting of the shareholders | | (C) | A special resolution | | (D) | Obtaining permission of the Comapany Law Board. |
| | (0) |
| | | (ii) | Liability of partners for firm’s debt is | (A) | Joint | | (B) | Separate | | (C) | Joint and Separate both | | (D) | None of the above |
| | (0) |
| | | (iii) | A company is called an artificial person because | (A) | It does not have the shape of a natural person | | (B) | It cannot be sued in the court of law | | (C) | It is invisible and intangible | | (D) | It exists only in contemplation of law |
| | (0) |
| | | (iv) | Grapevine communication is a type of | (A) | Formal communication | | (B) | Informal communication | | (C) | Written communication | | (D) | Vertical communication. |
| | (0) |
| | | (v) | Remisiers are | (A) | Members of stock exchange | | (B) | Speculators | | (C) | Sub–brokers | | (D) | None of the above |
| | (0) |
| | | (vi) | A co–oprative society is | (A) | Economic oriented | | (B) | Profit oriented | | (C) | Service oriented | | (D) | None of the above |
| | (0) |
| | | (vii) | SWOT stands for | (A) | Sadness, weakness, oppression and terrorism | | (B) | Success, worthiness, opportunities and trust | | (C) | Strength, weakness, opportunities and threats | | (D) | None of the above |
| | (0) |
| | (b) | Fill in the blanks: | 1x7 | |
| | | (i) | _______ means share in the share capital of company. | | (0) |
| | | (ii) | Providing quality goods and services is a _______ objective of business. | | (0) |
| | | (iii) | Translation of an idea into a language is called _______. | | (0) |
| | | (iv) | An association of artisans, craftsmen or small business with collective interest is called _______. | | (0) |
| | | (v) | The first general body meeting of a company must be held within _______ months. | | (0) |
| | | (vi) | Without requisite _______ a meeting cannot be held. | | (0) |
| | | (vii) | A person who applies for shares of a new company with a view to selling the shares allotted at a profit is called _______ | | (0) |
| | (c) | State which of the following statements are "True" and which are "False": | 1x6 | |
| | | (i) | Like a joint stock company it cooperative society is also treated as an independent legal entity. | | (0) |
| | | (ii) | A notice and a report are the same thing in the eye of law. | | (0) |
| | | (iii) | Shares of all companies are dealt in stock exchange. | | (0) |
| | | (iv) | Decoding is a process involved in communication. | | (0) |
| | | (v) | The first official general meeting of the shareholders is called Board meeting. | | (0) |
| | | (vi) | Liability clause is a part of Articles of Association. | | (0) |
| | (d) | Define the following terms in not more than two lines: | 1x6 | |
| | | (i) | Foreign company | | (0) |
| | | (ii) | Spot transaction | | (0) |
| | | (iii) | Proxy | | (0) |
| | | (iv) | Listed securites | | (0) |
| | | (v) | Sweat equity shares | | (0) |
| | | (vi) | A sleeping partner. | | (0) |
| 6. | Explain the concept of social responsibility of business. | 12 | (0) |
| 7. | What is the stock exchange? Discuss its economic functions. | 3+9 | (0) |
| 8. | Write short notes on any three of the following: | 4x3 | |
| | (a) | Role of four animals in stock exchange. | | (0) |
| | (b) | Memorandum of Association. | | (0) |
| | (c) | Prospectus. | | (0) |
| | (d) | Sole proprietorship. | | (0) |
| | (e) | Business environment. | | (0) |
| | (f) | Barrier of communication. | | (0) |
