Economics (318)

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1. Answer any one of the following questions in about 40-60 words.

(a) “Indian economy is known as developing economy on the map of world economy”. Suggest some effective measures to make our economy as a developed economy.

(b) After independence the strategy of industrialization was implemented in order to address the problem related to poverty, unemployment, economic growth, self –reliance, etc. In the light of the statement list four strategies to solve these problems during planning period.

2. Answer any one of the following questions in about 40-60 words.

(a) Primary data is the one, which is collected by the investigator himself for a specific inquiry or study. As you know there are many ways to collect primary data. Based the above statement, list out methods of collecting data and explain any of them. 

(b) The following are the marks (out of 100) of 60 students in mathematics

55, 26, 95, 31, 07, 78, 92, 62, 52, 56, 15, 63, 25, 36, 54, 44, 47, 27, 72,16, 13, 5, 80, 86, 07, 51, 48, 24, 56, 70, 19, 61, 17, 16, 36, 34, 42, 34, 35, 72, 55, 75, 31, 52, 28, 72, 97, 74, 45, 62, 68, 86, 35, 85, 36, 81, 75, 04, 24, 30. Construct a grouped frequency distribution table with a width 10 of each class. 

3. Answer any one of the following questions in about 40-60 words.

(a) Make a brief description of some effective programmers, and policies introduced by the government to reduce the extent of poverty, and unemployment from our country at the beginning of 21st century. 

(b) “Excessive use of resources has given birth to the concept of sustainable development”. Justify the statement with a suitable illustration.

4. Answer any one of the following questions in about 100-150 words. Word limit is not applicable for numerical questions. 

(a) Construct a frequency polygon and histogram from the data given below;

(b) Suppose you are a student of class XII of a co-educational senior secondary school. You will get the board exam from the Faculty of Science, Arts, and Commerce, for the display board of the school. The duty is assigned to prepare a tabular presentation of the passing students. List the factors that you will keep in mind while preparing a tabular presentation, and also prepare a sample table.

5. Answer any one of the following question in about 100 to 150 words. Word limit is not applicable for numerical question. 

(a) “All macroeconomic studies can help in better understanding, and analysis of microeconomic variables. The study of the two branches differ in one way or the other, Which also provides an important basis for understanding the concept of economics”. Explain the following concepts on the basis of the statement. 

(i) Interdependence of micro, and macroeconomics with suitable illustration.

(ii) Differences between micro, and macroeconomics.

(iii) Significance of micro, and macroeconomics.

(b) Raj Pandey spends some part of his income on the purchase of apples and oranges. He buys different combinations of apples and oranges to achieve the same level of satisfaction. He knows the price of apples and oranges. He decides logically to buy different combinations of fruits according to the total amount, and price. Explain the following based on the above given information. 

(1) Prepare imaginary schedule for indifference curve.

(2) Graphical presentation for indifference curve.

(3) Concept of Marginal Rate of substitution.

(4) Properties of Indifference curve.

6. Prepare any one project out of the given below.

(a) Visit any manufacturing unit in your area. Collect information related to the production process of the unit. Prepare project work on “Return to Factor” which is an important law of production, and makes it one of the important components of economic study. Include the following topics in the project as a result of the factor.

• Factors of production to utilized.
• Variable factors.
• Fixed factors.
• Total/Average/Marginal productivity.
• Graphical presentation of law of variable proportion, and stages of production.
• Stage to be preferred by manufacturer to produce goods, and services.

After completion of the project prepare five questions based on the project for better understanding. 

(b) The prices of goods in the market are made on the basis of various forms of the market, its structures, graphs. The major topics you can cover in the project are the following:

• Types of market with its features.
• Perfect competition, and price determination.
• Application in the determination of floor price, and support price of commodities.

After completion of the project, prepare five questions based on the project for better understanding.