WBCHSE Economics Question Paper 2019
The state of West Bengal is one of the first in India where the modern system of education was established by British Missionaries. Since then, it has evolved into the fine education system and is now monitored by state run autonomous body.
The West Bengal Council of Higher Secondary Education (WBCHSE) came into existence in 1975. It is an autonomous examining authority. It is responsible for conducting examinations for standard XII for both government and private schools affiliated to this board. It is responsible for improvement and promotion of education in the state.
The WBCHSE has made a sustained effort towards a quality uniform evaluation system all over the state of West Bengal. More than 6800 schools and over 16 lakhs students are being monitored by the Council. The task has been more challenging in context of the very competitive global environment and a diverse range of subjects.
The H.S. education is a significant part of the overall education system. West Bengal has the distinction of being the pioneer in the modern education system by virtue of the influence of the great literary and social path finders.
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In this post WBCHSE Economics QUESTION PAPER 2019 is being provided. Students can download it PDF format.
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Economics 2019 | ||
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PART B | Click | |
West Bengal Council of Higher Secondary Education
Economics
QUESTION PAPER 2019
PART A (MARKS: 60)
1 Answer the following questions (Alternatives are to be noted) 2x10-20
(a) State the law of demand.
or, Define a Giffen good.
(ii) Define income elasticity of demand.
or, What is meant by cross price elasticity of demand?
(c) Give two examples of a firm's variable cost of production.
or, If in the production process only constant returns to scale prevails, what will be the shapes of long run average and long run marginal cost curves?
(d) Show how a firm's marginal revenue and average revenue are related when the market price remains unchanged.
(e) What is meant by fiscal policy?
Or, What is deficit budget ?
(f) Mention two disadvantages of range as a measure of dispersion.
g) What is poverty line?
Or, What is the objective of Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) ?
(h) State any two functions of Insurance Regulatory and Development Authority (1999).
0) State two disadvantages Inida suffers as a result of establishment of World Trade Organisation.
Or, What is cash reserve ratio (CRR) ?
2. Answer the following quesitons (Alternatives are to be noted) 5X 8=40
(a) Analyse the reiationship involving total product, average product and marginat product in three stages of a production process.
(b) Show how a perfectly competitive firm earns only normal profit as it attains long run equilibrium.
Or, Show how the price in a perfectly competitive market is affected when-
(i) supply decreases with demand remaining unchanged and
(i) demand decreases with supply remaining unchanged.
(c) Briefly discuss the Modern theory of Rent.
Or, Critically evaluate Marginal Productivity theory of Distribution.
(d) Discuss the income-census method of measuring national income.
Or, Explain the difference between gross national income at market price and gross national income at factor cost.
(e) Discuss briefly the functions of a central bank.
(f) Show the difference between Current account and Capital account in the balance o f payments.
Or, Discuss the different components on the credit side and the debit side of balance of payment accounts.
(e) Show that the standard deviation of a set of five observations: 5, 6, 7, 8, 9 is v2.
Or, Discuss the advantages of standard deviation as a measure of dispersion.
(h) What are the causes of persistence of poverty in India ?
Or, State the measures adopted to reduce the inequality of income in India.
PART B (MARKS: 20)
1. Select the correct answer out of the options given against each question 1x10-10
(i) World Trade Organisation was established in the year -)
(a) 1981. (b) 1985
(c) 1991. (d) 1995
(ii) Unempioyment caused due to lack of irrigation tacilities is calied narginat (a) disguised unempioyment
(b) seasonal unemployment
(c) technological unemployment
(c) cyclical unemployment
(iii) Monopoly Enquiry Commission (MEc) was established in india in the year -
(a) 1951. (b) 1956
(c) 1961. (d) 1964
(iv) The difference between the maximum and minimum values of a set of observations is called-
(a) Range. (b) Lorenz Ratio
(c) Variance. (d) Standard Deviation
(v) Taxes remaining unchanged if government expenditure is increased by Rs. 400 crores and if marginal propensity to consume is 2/3, then national income will increase by rupees-
(a) 800 crores. (b) 1,000 crores
(c) 1,200 crores. (d) 1,600 crores
(vi) The sum of average propensity to consume and average propensity to save is-
(a) 0 . (b) 1/2
(c) 1. (d) 2
vii) The Lerner's Index used to measure degree of monopoly power is given by-
(a) |e| (b) MR/ |e |
(c) MC/|e | (d) 1/ |e
Where | e | denotes the absolute value of price elasticity of demand.
(viii) if price elasticity of supply is infinity, the supply curve will be -
(a) backward bending
(b) upward rising from left to right
(c) vertical
(d) horizontal
(ix) The second order or sufficient condition for maximization of profit of a firm in a perfectly competitive market is-
(a) Marginal Revenue = Marginal Cost
(b) Marginal cost curve is upward rising
fc) Marginal cost curve slopes downwards
d) Price= Marginal Revenue
(x) in the short run average fixed cost curve is
(a) upward rising
(b) rectangular hyperbola
(c) U-shaped
(d) concave
2. Answer the following questions (Alternatives are to be noted): 1x10-10
(I) Write True or False
In a monopolistically competitive market each firm sells a differentiated product having many close substitutes.
Ans. .................
Or, Write True or False unde
A market in which there are numerous buyers but only a few sellers is called an oligopoly AN maarket.
Ans. ................
(i) Fill in the blank: A
The main proponent of the theory of mark-up pricing is............
(ii) Write True or False
The Lorenz curve coincides with the egalitarian line when the inequality in income distribution is maximum.
Ans. ........................
(iv) Write True or False:
The number of people living below the poverty line in India has increased during the plan period.
Ans. ......................
Or, Write True or False:
There is a close relation between unemployment and poverty.
Ans. ....................
(v) Write True or False:
Life Insurance Corporation of lIndia was established in the year 1948.
Ans. ....................
(vi) Write True or False:
if production of agricultural crop in a season increases due to favourable weather, the supply of agricultural product curve will shift to the right or downwards.
Ans. ......................
(vii) Fill in the blank 00
In a monopoly market price and ............... revenue are always equal.
Or, Fill in the blank :
The demand curve facing a monopolist is always .................... sloping.
(viii) TFill in the blank:
The minimum value of standard deviation is ............................
or, Fill in the blank:
The value of range computed from a given set of five observations - 4, - 5, - 8, -1,-9...........
(ix) Fill in the blank:
(Unemployment caused due to recessionary conditions in an economy is known as..................... unemployment.
Or, Fill in the blank:
To enquire into the inequality of income distribution in India a Committee was appointed under the Chairmanship of Professor Mahalanobish in the year ............
(x) Fill in the blank: insurance and life insurance. Insurance is of two types ................
Or, Fill in bllank:
Life insurance is called contract of .................