{"id":14746,"date":"2019-12-24T14:11:54","date_gmt":"2019-12-24T08:41:54","guid":{"rendered":"https:\/\/kseebsolutions.guru\/?p=14746"},"modified":"2021-07-02T15:35:06","modified_gmt":"2021-07-02T10:05:06","slug":"2nd-puc-economics-model-question-paper-2","status":"publish","type":"post","link":"https:\/\/kseebsolutions.guru\/2nd-puc-economics-model-question-paper-2\/","title":{"rendered":"2nd PUC Economics Model Question Paper 2 with Answers"},"content":{"rendered":"

Students can Download 2nd PUC Economics Model Question Paper 2 with Answers, Karnataka 2nd PUC Economics Model Question Papers with Answers <\/a>helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations.<\/p>\n

Karnataka 2nd PUC Economics Model Question Paper 2 with Answers<\/h2>\n

Time: 3 hrs 15 minutes
\nMax. Marks: 100<\/p>\n

PART-A<\/p>\n

I. Choose the correct answer (1 \u00d7 5 = 5)<\/span><\/p>\n

Question 1.
\nThe scarce resources of an economy have
\n(a) Competing usages
\n(b) Single usages
\n(c) Unlimited usages
\n(d) None of the above
\nAnswer:
\n(a) Competing usages<\/p>\n

Question 2.
\nIn perfect competition buyers and sellers are
\n(a) Price makers
\n(b) Price takers
\n(c) Price analysts
\n(d) None of the above
\nAnswer:
\n(b) Price takers<\/p>\n

Question 3.
\nmarket structure which produces heterogeneous.products is called
\n(a) Monopoly
\n(b) Monopolistic competition
\n(c) Perfect competition
\n(d) None of the above
\nAnswer:
\n(b) Monopolistic competition.<\/p>\n

\"KSEEB<\/p>\n

Question 4.
\nIn 1936, British economist J.M.Keynes published his celebrated book.
\n(a) Wealth of Nations
\n(b) Theory of Interest
\n(c) General Theory of Employment, Interest, and Money.
\n(d) Theory of Employment
\nAnswer:
\n(c) General Theory of Employment, Interest, and Money.<\/p>\n

Question 5.
\nThe taxes on individual and firms are
\n(a) Direct taxes
\n(b) Indirect taxes
\n(c) Fixed taxes
\n(d) Non-tax revenues
\nAnswer:
\n(a) Direct taxes<\/p>\n

II. Fill in the blanks (1 \u00d7 5 = 5)<\/span><\/p>\n

Question 6.
\nWants satisfying capacity of commodity is______
\nAnswer:
\nUtility.<\/p>\n

Question 7.
\nIn a perfectly competitive market, equilibrium occurs when market demand_____market supply.
\nAnswer:
\nEquals<\/p>\n

Question 8.
\ncY shows the dependence of consumption on______
\nAnswer:
\nIncome<\/p>\n

Question 9.
\nNon-paying users of public goods are known as______
\nAnswer:
\nFree riders<\/p>\n

\"KSEEB<\/p>\n

Question 10.
\n______is the record of trade in goods and services and transfer payments.
\nAnswer:
\nCurrent account<\/p>\n

III. Match the following (1 \u00d7 5 = 5)<\/span><\/p>\n

Question 11.
\n\"2nd
\nAnswer:
\n1 -e; 2-a; 3 -b; 4-c; 5 -d.<\/p>\n

IV. Answer the following questions in a sentence or a word each. (1 \u00d7 5 = 5)<\/span><\/p>\n

Question 12.
\nTo which side does a supply curve shift due to the technological progress?
\nAnswer:
\nThe supply curve shifts to the right due to the technological progress.<\/p>\n

Question 13.
\nWhat is monopoly?
\nAnswer:
\nIt is a market with one seller or firm with many buyers.<\/p>\n

Question 14.
\nWrite the meaning of autonomous consumption.
\nAnswer:
\nThe consumption which is independent of income is called as autonomous consumption.<\/p>\n

\"KSEEB<\/p>\n

Question 15.
\nWhat are public goods?
\nAnswer:
\nPublic goods are the goods and services provided by the government and which cannot be provided by the market mechanism. Example, roads, defence, etc.<\/p>\n

Question 16.
\nWhat do you mean by open economy?
\nAnswer:
\nAn open economy is one which interacts with rest of the world through various channels.<\/p>\n

PART-B<\/p>\n

V. Answer any NINE of the following in 4 sentences each. (2 \u00d7 9 = 18)<\/span><\/p>\n

Question 17.
\nWhat do you mean by inferior goods? Give example.
\nAnswer:
\nThe inferior goods are those goods for which the demand increases with the fall in income of consumer and vice-versa. That is, there will be a negative relationship between income of consumer and demand for inferior goods. Here, the income of consumer and demand move in opposite directions. Example: low-quality goods.<\/p>\n

Question 18.
\nState the law of demand?
\nAnswer:
\nLaw of demand states that other things being equal, there is a negative relation between demand for a commodity and its price. In other words, when price of the commodity increases, demand for it falls and when price of the commodity decreases, demand for it rises, other factors remaining the constant.<\/p>\n

The law can be explained in the following manner, i.e. \u201cOther things being equal, a fall in price leads to expansion in demand and a rise in price leads to contraction in demand\u201d.<\/p>\n

Question 19.
\nWrite the meaning and formula of marginal product.
\nAnswer:
\nMarginal product of an input is defined as the change in output per, unit of change in the input when all other inputs are held constant. It is the additional unit of output per additional unit of variable input. It is calculated by dividing the change in output by change in input labour. The formula is
\nMPL<\/sub> = \u2206TPL<\/sub>\/\u2206L.<\/p>\n

Question 20.
\nMention the conditions needed for profit by a firm under perfect competition.
\nAnswer:
\nThe following conditions needed for profit by a firm under perfect competition:<\/p>\n