Paat Papers Flashcards
Write Alfred Marshall’s definition of economics.
Describe extension and contraction in supply.
(il)
(iv)
Show the relationship between marginal utilty and total utility with the help of a schedul
What is meant by total revenue? Give an example.
Write definition of the “Law of Diminishing Returns* given by Alfred Marshall.
(vi)
(vii)
(viii
(ix)
(x)
(xi)
(xii)
Draw a diagram showing super-normal profit of a firm in the short run under perfect competition.
What is meant by Land in economics?
Write any four points of criticism made on Marginal Productivity Theory of Distribution.
Show the circular flow of national income with the help of a diagram.
Write any four drawbacks of Barter system of exchange.
Draw a diagram showing different phases of a business cycle.
Write a note on beneficiaries of Zakat.
SECTION - C (Marks 24)
Explain the “Law of Demand” with the help of a schedule and diagram.
Write in detail different conditions of perfect market
Discuss principles of taxation.
Write down Robbins’ definition of economics.
(li)
Define consumption of wealth.
Differentiate between supply and stock.
(iv)
Define labour>).
Write down the relationship between average cost and marginal cost.
Write a short note on money as a medium of exchange.
Define trade cycle
What is meant by international trade?
Define public finance.
What is meant by Zakat?
SECTION - C (Marks 24)
Note:
Attempt any TWO questions. All questions carry equal marks.
Q. 3
Explain the Law of Demand with the help of schedule and graph.
Q.4
Explain the Firm’s equilibrium under perfect competition in short period.
Q. 5
Explain the different concepts of national income
Write Alfred Marshall’s definition of economics.
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(vili)
(ix)
(x)
(xi)
(xil)
What is meant by change in demand?
Differentiate between stock and supply.
Define law of substitution and write its equation.
Define fixed cost and variable cost.
Define labour and give examples.
Draw a diagram showing “Super Normal Profit” of a firm in the short run under perfect competition.
Define Marginal Productivity Theory of distribution.
Define Gross National Product.
Write the effects of change in value of money on Debtors and Creditors.
Show different phases of a business cycle with the help of a diagram.
Write any four advantages of international trade.
SECTION - C (Marks 24)
Attempt any TWO questions. All questions carry equal marks.
(2x 12 =24)
Explain the “Law of Demand” with the help of a schedule and diagram.
Explain the “Law of Diminishing Returns” with the help of a schedule and diagram?
Write “Functions of Money” in detail.
Show the relationship between MU and TU with the help of a diagram.
What is the meaning of demand in economics?
Define Point elasticity of demand and write its formula.
Write the conditions of perfect competition.
Describe the relationship between AC and MC with the help of curves.
Define Marginal revenue (MR) of a firm. Write it mathematically.
Define labour and give examples.
Show the circular flow of national income with the help of diagram
Write names of different phases of a business cycle
What is the impact of inflation on Debtors and Creditors?
Differentiate between Balance of Trade and Balance of Payments.
SECTION - C (Marks 24)
Attempt any TWO questions. All questions carry equal marks.
Explain the “Law of Diminishing Marginal Utility” with the help of a schedule and diagram.
Explain the “Law of Increasing Return” with the help of a schedule and diagram.
Write in detail the Functions of Money.
Write four important aspects of Adam Smith’s definition of Economics Write Consumer’s Equilibrium position in terms of equation/formula.
(Ii)
Look at the following figure and Answer:
Total Marks Sections B and C: 60
Note:
Q. 3
Q. 4
Q. 5
(9x4= 36)
(iv)
(v)
(vi)
(vii)
(vili)
(ix)
(x)
(xi)
(xii)
com
a)
Which points show rise in demand?
b)
Which points show extension in demand?
tionpk.
Define Income Elasticity of Demand and also write its formuia.
Define “Law of Increasing Returns”.
Describe the relationship between Average Cost (AC) and Marginal Cost (MC).
Write down any four characteristics of land.
Define “Normal Profit”
Define Disposable Personal Income (DPI).
Define “Money”.
Write down the phases of trade cycle.
Define “Balance of Payment”.
SECTION - C (Marks 24)
Attempt any TWO questions. All questions carry equal marks.
Explain the “Law of Diminishing Marginal Utility” with the help of schedule and diagram.
Explain the Firm’s Equilibrium under monopoly.
Explain “Circular flow of national Income” with the help of Diagram.
Write down four points of Robbins’s definition of economics.
(il)
Define “Law of equi - marginal utility”.
Differentiate between fall and contraction of supply.
(iv)
(v)
(vi)
Define “Labour”.
Define the “Law of decreasing returns”.
Reproduce the following table on your answer sheet and complete it
con
Quantity
TFC
TVC
10
TC
10
25
MC
popk.
3
(vii)
(viii)
(ix)
(x)
(xi)
(xii)
Define “marginal productivity theory” of factor pricing.
Define “GNP” (Gross National Product).
Write down any four instruments of credit money.
Write down any four functions of money.
Write down the phases of trade cycies.
What is the difference between domestic and international trade?
Note:
Q. 3
Q.4
Q. 5
SECTION - C (Marks 24)
Attempt any TWO questions. All questions carry equal marks.
(2x 12=24)
What is market equilibrium? Explain the equilibrium of demand and supply by drawing a schedule and a diagram.
How are price and out-put determined under perfect competition in the short run?
Define tax. Write down the canons (Principles) of taxation.
Write down four points of Robbins’s definition of economics.
(il)
Define “Law of equi - marginal utility”.
Differentiate between fall and contraction of supply.
(iv)
(v)
(vi)
Define “Labour”.
Define the “Law of decreasing returns”.
Reproduce the following table on your answer sheet and complete it
con
Quantity
TFC
TVC
10
TC
10
25
MC
popk.
3
(vii)
(viii)
(ix)
(x)
(xi)
(xii)
Define “marginal productivity theory” of factor pricing.
Define “GNP” (Gross National Product).
Write down any four instruments of credit money.
Write down any four functions of money.
Write down the phases of trade cycies.
What is the difference between domestic and international trade?
Note:
Q. 3
Q.4
Q. 5
SECTION - C (Marks 24)
Attempt any TWO questions. All questions carry equal marks.
(2x 12=24)
What is market equilibrium? Explain the equilibrium of demand and supply by drawing a schedule and a diagram.
How are price and out-put determined under perfect competition in the short run?
Define tax. Write down the canons (Principles) of taxation.
any NINE parts. The answer to each part should not exceed 5 to 6 lines. (i)
How has Robbins defined Economics?
(9x4=36 )
Reproduce and complete the following table on your answer book:
Units of Commodity
Total Utility (TU)
Marginal Utility (MU)
4
20
20
35
50
10
(ili)
(iv)
(v)
(vi)
What is meant by extension of demand?
What is meant by Rise of supply?
What is meant by Labour in Economics?
Reproduce and complete the following table on your answer book:
Quantity (Q)
Price (P)
Total Revenue (TR)
Average Revenue (AR)
Marginal Revenue (MR)
8
14
18
20
3
(vii)
(viii)
With the help of a diagram show the equilibrium of a firm under perfect competition in the long run.
Show the circular flow of National Income with the help of a diagram.
(ix)
(x)
(xi)
Write down any four qualities of good money.
Write briefly the phases of a trade cycle with the help of a diagram.
Write down any four disadvantages of International / Foreign trade.
(xii) -
Write down the beneficiaries of Zakat.
Note:
Q.3
SECTION - C (Marks 24)
Attempt any TWO questions. All questions carry equal marks.
Explain the law of Increasing Returns with the help of a schedule and diagram.
A monopolist firm can earn abnormal profit as well as loss in the short run. Explain.
(2x 24)
Q.4
Q.5
Explain the “Quantity Theory of Money”.
How has Robbins defined Economics?
Reproduce and complete the following table on your answer book:
Units of Commodity
Total Utility (TU)
Marginal Utility (MU)
(ili)
What is meant by extension of demand?
(iv)
What is meant by Rise of supply?
(v)
What is meant by Labour in Economics?
(vi)
Reproduce and complete the following table on your answer book:
Quantity (Q)
Price (P)
Total Revenue (TR)
Average Revenue (AR)
Marginal Revenue (MR)
14
18
4
5
20
4
18
4
2
(vii)
With the help of a diagram show the equilibrium of a firm under perfect competition in the long run.
(viii)
Show the circular flow of National Income with the help of a diagram.
(ix)
Write down any four qualities of good money.
(x)
Write briefly the phases of a trade cycle with the help of a diagram.
(xi)
(xii) -
Write down any four disadvantages of International / Foreign trade.
Write down the beneficiaries of Zakat.
SECTION - C (Marks 24)
Note:
Attempt any TWO questions. All questions carry equal marks.
(2x 12 = 24)
Q. 3
Q. 4
Q. 5
Explain the law of Increasing Returns with the help of a schedule and diagram
A monopolist firm can earn abnormal profit as well as loss in the short run. Explain.
Explain the “Quantity Theory of Money”.
Show the subject matter of economics with the help of a diagram with reference to the definition given by Robbins
(ii)
Reproduce and complete the following table on your answer book:
(9 × 4 = 36 )
Units of Consumption
Total Utility (Utils)
Marginal Utility (Utils)
14
18
20
20
18
com
(iii)
(iv)
(v)
(vi)
(vII)
(viii)
(ix)
(x)
(xi)
(xii)
Describe the concept of Demand.
Differentiate between Stock and Supply.
Define Cross Elasticity of Demand. Write down its formula:
Show the relationship between Average Cost (AC) and Marginal Cost (MC) with the help a diagram.
Write down two necessary conditions of equilibrium for a firm under perfect competition.
What is meant by Double Counting? How can it be avoided?
Write down any four drawbacks of the Barter
ystem of exchange
Differentiate between Balance of trade and lance of payments.
What are the effects of Inflation and Deflation on Debtors and Creditors?
Write a short note on Ushr.
BETION - C (Marks 2a)
Attempt any TWO questions. All questions carry equal marks.
(2x 12 = 24)
Explain the law of Diminishing Marginal Utility with the help of schedule and diagram.
Also discuss its assumptions.
Show four different situations a firm can face under perfect competition in the short run with the help of diagrams.
Explain any six canons of taxation.
Define Deductive and Inductive methods of economic analysis.
What is meant by the term “Change in demand”? Also show the following with the help of a diagram only: (a)
Rise in demand
Fall in demand
(IIi)
(iv)
Define Cross Elasticity. Also write down its formula.
Find the price elasticity of demand if!
Quantity demand
1000
oUUI
Price
50
55
(vi)
(vii)
Write down four assumptions/conditions of Perfect Competition.
Define Balance of payment and Balance of trade.
com
The table gives data about the total cost of production at different levels of output
Reproduce the table on your
answer book and fill in the total variable cost (TVC) Column:
(viii)
(ix)
(x)|
(xi)
(хії)
Output
TC
TVC
#UUU
2,200
2,350
2,750
Differentiate between GNP and GDP.
Define Direct and Indirect taxes.
Give one example of each
Write down any four functions of money.
donp
Write down Adam Smith’s four canons of taxation.
What is the rate of Ushr on irrigated and unirrigated land. Also give any two differences between Zakat and Tax?
Note:-
Q. 3
Q. 4
Q. 5
SECTION - C (Marks 24)
Attempt any TWO questions. All questions carry equal marks.
(2x 12 = 24 )
What is meant by Consumer Equilibrium? Explain with the help of table, diagram and equation.
What is meant by Monopoly? Show the different situations that a monopolist can face in the short-run with the help of diagrams.
Define quantity theory of Mon
Explain it with the help of Fisher’s equation. Critically evaluate the theory.
