Supply Analysis — Economics STD 12 Commerce / Arts — Question

Theory of Economic Welfare.
(a) Efficiency in production
(b) Efficiency in consumption
(c) Overall economic efficiency
(d) Efficiency in social activities

Statements that are incorrect in relation to index numbers.
a) Index number is a geographical tool.
b) Index numbers measure changes in the air pressure.
c) Index numbers measure relative changes in an economic variable.
d) Index numbers are specialized averages.

Public finance is one of those subjects which are on the borderline between economics and politics’ ……………. is the view of
a) Adam Smith
b) Alfred Marshall
e) Prof. Hugh Dalton
d) Prof. Findlay Shirras

Competitive demand.
(a) Thums-up
(b) Pepsi
(c) Buttermilk
(d) Coco-cola

Form Utility increases when –
(a) dress stitched from cloth.
(b) change in the format of given material.
(c) river water diverted towards farm.
(d) pot made from clay.

Statements related to limitations of index numbers.
a) Index numbers are not completely reliable.
b) There may be a bias in the data collected.
c) Every formula has sorne kind of defect.
d) Index numbers ignore changes in the qualities of products.

Zero MU is described as
(a) disutility
(b) point of satiety
(c) dis-satisfaction
(d) maximum TU

Examples of discriminating monopoly are –
(a) Doctors
(b) Lawyers
(c) Consultants
(d) All of the above

Choose the right group of pairs :

Group ‘A’	Group ‘B’
1. Budget	(a) Simplifying tax system
2. Financial administration	(b) Use of foreign currency
3. External debt	(c) Annual financial statement
4. GST	(d) Implementation of revenue

Decrease in demand.
(a) Favourable changes in other factors
(b) Unfavourable changes in other factors
(c) Decrease in quantity demanded
(d) Changes in income of the consumer