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TN Country Board 12th Economics Model Question Paper 1 English Medium

General Instructions:

1. The question paper comprises of four parts.
2. You are to attempt all the parts. An internal choice of questions is provided wherever applicable.
3. All questions of Part I, Ii, III and Four are to be attempted separately.
4. Question numbers 1 to xx in Part I are Multiple Choice Questions of one marking each.
   These are to be answered by choosing the nearly suitable reply from the given four alternatives and writing the option code and the corresponding respond
5. Question numbers 21 to 30 in Part Ii are two-mark questions. These are to be answered in about one or two sentences.
6. Question numbers 31 to 40 in Office 3 are iii-mark questions. These are to exist answered in above three to five short sentences.
7. Question numbers 41 to 47 in Office IV are five-mark questions. These are to be answered in detail Describe diagrams wherever necessary.

Time: iii.00 Hours
Maximum Marks: 90

PART – I

Choose the correct answer. Reply all the questions: [20 × 1 = 20]

Question one.
Betoken the contribution of J M Keynes to economic science……..
(a) Wealth of Nations
(b) General Theory
(c) Capital
(d) Public Finance
Answer:
(b) General Theory

Question 2.
Per capita income is obtained by dividing the National income by………..
(a) Production
(b) Population of a country
(c) Expenditure
(d) GNP
Answer:
(b) Population of a country

Question 3.
Assertion (A): The Expenditure method is called outlay method.
Reason (R): This method is used only private sector.
(a) Both 'A' and 'R' are true and 'R' is the correct explanation to 'A'
(b) Both 'A' and 'R' are true but 'R' is not the correct explanation to 'A'
(c) 'A' is true but 'R' is fake
(d) 'A' is true but 'R' is simulated
Reply:
(c) 'A' is truthful only 'R' is false

Question iv.
The component of aggregate demand is………..
(a) Personal need
(b) Government expenditure
(c) Only consign
(d) Only import
Answer:
(b) Regime expenditure

Question 5.
If the Keynesian consumption role is C= 10 + 0.viii Y then, if dispensable income is Rs g, what is amount of total consumption?
(a) Rs 0.8
(b) Rs 800
(c) Rs 810
(d) Rs 0.81
Answer:
(c) Rs 810

Question 6.
Which of the following is correctly matched:
(a) J.G. Clark – Ceteris Paribus
(b) J.Grand. Keynes – Psychological law of consumption
(c) R.F. Khan – Accelerator model
(d) Duesenberry – Laissez-faire
Answer:
(b) J.One thousand. Keynes – Psychological police of consumption

Question 7.
………. aggrandizement is in no way dangerous to the economy.
(a) Walking
(b) Running
(c) Creeping
(d) Galloping
Reply:
(a) Walking

Question 8.
Lucifer the post-obit and choose the correct reply past using codes given below:

Codes

Answer:
(a) A-3, B-4, C-1, D-2

Question 9.
Expansions of ATM.
(a) Automated Teller Machine
(b) Aligning Teller Auto
(c) Automatic Teller mechanism
(d) Any Time Money
Answer:
(a) Automated Teller Machine

Question ten.
Commercial Banks create credit in favour of the……..
(a) consumers
(b) concern men
(c) customers
(d) agriculturists
Answer:
(c) customers

Question eleven.
Net export equals ………
(a) Export 10 Import
(b) Consign + Import
(c) Export – Import
(d) Exports of services only
Answer:
(c) Export – Import

Question 12.
Assertion (A): Price of a commodity is measured by the amount of labour required to produce it.
Reason (R): Trade is 1 of the Demerit.
(a) Both 'A' and 'R' are truthful and 'R' is the correct explanation to 'A'
(b) Both 'A' and 'R' are true just 'R' is not the right caption to 'A'
(c) 'A' is true merely 'R' is fake
(d) 'A' is faux only 'R' is true
Answer:
(c) 'A' is true but 'R' is false

Question 13.
Which of the following is non the fellow member of SAARC?
(a) Pakistan
(b) Sri Lanka
(c) Kingdom of bhutan
(d) Communist china
Reply:
(d) Red china

Question 14.
IBRD otherwise called the………..
(a) Imf
(b) SDR
(c) SAF
(d) Globe Bank
Answer:
(d) Earth Depository financial institution

Question xv.
Finance Commission determines …………
(a) The finances of Government of Republic of india
(b) The resources transfer to the states
(c) The resources transfer to the diverse departments
(d) None of the in a higher place
Reply:
(b) The resources transfer to the states

Question xvi.
Lucifer the following and choose the correct answer by using codes given below:

codes

Respond:
A-two, B-four. C-1, D-3

Question 17.
………. is the current increment in temperature of the Earth'south surface too as its temper.
(a) World warming
(b) Global warming
(c) Globe spoiled
(d) Temperature warming
Answer:
(b) Global warming

Question 18.
The supply side vicious circle of poverty suggests that poor nations remain poor because
(a) Saving remains low
(b) Investment remains low
(c) At that place is a lack of effective government
(d) a and b above
Answer:
(d) a and b above

Question xix.
……….planning pertains to the allocation of resources in terms of men, materials and machinery.
(a) Financial
(b) Concrete
(c) Functional
(d) Structural
Answer:
(b) Physical

Question 20.
The give-and-take 'statistics' is used as……….
(a) Singular
(b) Plural
(c) Singular and Plural
(d) None of higher up
Answer:
(c) Singular and Plural

PART – II

Respond whatever seven question in which Question No. 30 is compulsory. [7 x 2 = fourteen]

Question 21.
What do y'all mean by Commercialism?
Answer:
Capitalism, is total freedom and private ownership of ways of production. Capitalistic economy is likewise termed equally a costless economy (Laissez faire, in Latin) or marketplace economy where the role of the government is minimum and marketplace determines the economic activities.

Question 22.
Write the formula for calculating GNP.
Answer:
GNP at market prices means the gross value of final appurtenances and services produced annually in a land plus net factor income from abroad
(C + I + G + (X – M) + (R – P)

Question 23.
Write the headlines of difficulties in Measuring National Income.
Answer:
Difficulties in Measuring National Income:

1. Transfer payments
2. Difficulties in assessing depreciation assart
3. Unpaid services
4. Income from illegal activities
5. Production for cocky-consumption and changing price
6. Upper-case letter Gains
7. Statistical problems.

Question 24.
What is effective demand?
Respond:
The starting point of Keynes theory of employment and income is the principle of effective demand.  Effective need denotes money really spent past the people on products of manufacture. The money which entrepreneurs receive is paid in the class of rent, wages, interest and profit. Therefore effective demand equals national income.

Question 25.
Define "Unemployment".
Respond:
Unemployment: When there are people, who are willing to work and able to piece of work only cannot find suitable jobs.

Question 26.
Define average propensity to salve (APS).
Answer:
Average Propensity to Save (APS):
The average propensity to save is the ratio of saving to income. APS is the quotient obtained past dividing the total saving by the total income. In other words, information technology is the ratio of total savings to total income. It can be expressed algebraically in the grade of equation every bit under
APS = \(\frac{Due south}{Y}\)
Where, S = Saving; Y = Income

Question 27.
Define "Ceteris paribus".
Reply:
Ceteris paribus (constant extraneous variables): The other variables such every bit income distribution, tastes, habits, social customs, cost movements, population growth, etc. practise not change and consumption depends on income alone.

Question 28.
Land briefly the functions of SAARC.
Answer:
Functions of SAARC:
The chief functions of SAARC are as follows.

1. Maintenance of the co operation in the region
2. Prevention of common problems associated with the fellow member nations.
3. Ensuring stiff human relationship among the member nations.
4. Removal of the poverty through various packages of programmes.
5. Prevention of terrorism in the region.

Question 29.
What are the components of GST?
Answer:
Components of GST:
The component of GST are of 3 types. They are: CGST, SGST & IGST.

1. CGST: Collected past the Central Government on an intra-country sale (east.one thousand. Inside country/ union territory)
2. SGST: Collected past the State Government on an intra-state sale (e.g. Within country/ wedlock territory)
3. IGST: Collected by the Fundamental Government for inter-country sale (e.chiliad. Maharashtra to Tamil Nadu)

Question xxx.
What are ecology goods? Give examples.
Answer:
Ecology goods are typically not-marketplace goods, including clear air, clean h2o, landscape, light-green transport infrastructure (footpaths, bicycle ways, greenways, etc.), public parks, urban parks, rivers, mountains, forests, and beaches.

Concerns with environmental goods focus on the effects that the exploitation of ecological systems take on the economy, the well-being of humans and other species, and on the environment.

Role – III

Answer any seven question in which Question No. 40 is compulsory. [7 x 3 = 21]

Question 31.
Describe the socialistic econonomy.
Respond:
Socialistic Economy (Socialism):

1. The Father of Socialism is Karl Marx. Socialism refers to a organisation of total planning, public buying and state command on economic activities.
2. Socialism is divers as a style of organizing a society in which major industries are owned and controlled by the regime.
3. A Socialistic economy is as well known as 'Planned Economy' or 'Command Economy'.
4. In a socialistic economy, all the resources are owned and operated past the government.
5. Public welfare is the main motive behind all economic activities. Information technology aims at equality in the distribution of income and wealth and equal opportunity for all.
6. Russia, Red china, Vietnam, Poland and Republic of cuba are the examples of socialist economies. But, now there are no absolutely socialist economies.

Question 32.
Discuss the limitations of Macro Economics.
Answer:
Macro economics suffers from certain limitations. They are:

1. There is a danger of excessive generalisation of the economy as a whole.
2. It assumes homogeneity amongst the private units.
3. There is a fallacy of composition. What is adept of an individual need not be skillful for nation and vice versa. And, what is good for a country is non good for some other country and at another time.
4. Many not-economic factors determine economic activities; but they do non find place in the usual macroeconomic books.

Question 33.
Requite short note on Expenditure method.
Reply:
The Expenditure Method (Outlay method):

1. The full expenditure incurred by the society in a particular year is added together.
2. To summate the expenditure of a lodge, information technology includes personal consumption expenditure, net domestic investment, authorities expenditure on consumption as well every bit capital letter appurtenances and cyberspace exports.

Question 34.
Describe the types of unemployment.
Answer:
The following are the types of unemployment.
Types of unemployment:

1. Cyclical Unemployment
2. Frictional Unemployment
3. Technical Unemployment
4. Bearded Unemployment
5. Seasonal Unemployment
6. Educated Unemployment
7. Structural Unemployment

1. Cyclical Unemployment:

• This unemployment exists during the downturn phase of trade cycle in the economy.
• In a business organization cycle during the menstruation of recession and low, income and output fall leading to widespread unemployment.
• It is caused by deficiency of effective demand.
• Cyclical unemployment can be cured by public investment or expansionary monetary policy.

2. Seasonal Unemployment:

• This type of unemployment occurs during sure seasons of the year.
• In agriculture and agro based industries like carbohydrate, production activities are carried out but in some seasons.
• These industries offering employment only during that flavour in a year. Therefore people may remain unemployed during the off season.
• Seasonal unemployment happens from need side also; for example ice cream industry, vacation resorts etc.

three. Frictional Unemployment (Temporary Unemployment):

• Frictional unemployment arises due to imbalance betwixt supply of labour and need for labour.
• This is considering of immobility of labour, lack of necessary skills, break downwards of machinery.
• shortage of raw materials etc.
• The persons who lose jobs and in search of jobs are as well included under frictional unemployment.

iv. Educated Unemployment:

• Sometimes educated people are underemployed or unemployed when qualification does
  not match the job.
• Faulty education system, lack of employable skills, mass pupil turnout and preference for white collar jobs are highly responsible for educated unemployment in India.

5. Technical Unemployment:

• Modem applied science beingness capital intensive requires less labourers and contributes to technological unemployment.
• Now a days, invention and innovations lead to the adoption of new techniques in that location past the existing workers are retrenched.
• Labour saving devices are responsible for technological unemployment.

vi. Structural Unemployment:

• Structural unemployment is due to drastic modify in the structure of the order.
• Lack of demand for the product or shift in demand to other products cause this type of unemployment.
• For case ascension in demand for mobile phones has adversely affected the demand for cameras, record recorders etc.
• And so this kind of unemployment results from massive and deep rooted changes in economic construction.

vii. Disguised Unemployment:

• Disguised unemployment occurs when more people are than what is actually required.
• Even if some workers are withdrawn, production does not suffer.
• This type of unemployment is found in agronomics.
• A person is said to be disguisedly by unemployed if his contribution to output is less than what he can produce by working for normal hours per day.
• In this situation, marginal productivity of labour is goose egg or less or negative.

Question 35.
Differentiate autonomous and induced investment.
Respond:

Sl.No	Autonomous Investment	Induced Investment
1	Contained	Planned
2	Income inelastic	Income elastic
3	Welfare motive	Profit Motive

Question 36.
What is money supply?
Answer:

1. Coin supply means the total corporeality of coin in an economy.
2. It refers to the amount of money which is in circulation in an economy at any given time.
3. Coin supply plays a crucial role in the determination of cost level and interest rates.
4. Coin supply viewed at a given signal of time is a stock and over a period of fourth dimension it is a flow.

Question 37.
Distinguish between money market and capital letter market.
Respond:

S.No.	Money Market	Capital letter Marketplace
one.	Money market is the mechanism through which sthort term funds are loaned and borrowed. Information technology designates fiscal instittutions which handle the purchase, sale and transfer of short term credit instruments.	Capital Market is a function of financial arrangement which is concerned with raising majuscule by dealing in shares, bonds and other long term investments.
2.	Commercial banks, acceptance houses, Non Banking Financial Institutions and the Cardinal Bank are the institutions catering to the requirements of brusk term funds in the money Market.	The market where investment instruments like bonds, equities and mortgages are traded is known as the capital market.

Question 38.
List out the achievements of Association of southeast asian nations.
Answer:
The ASEAN Declaration states the aims and purposes of the Association as:

1. To advance the economic growth, social progress and cultural development in the region;
2. To promote regional peace and stability and adherence to the principles of the Un Charter;
3. To promote cooperation among the members of ASEAN through the substitution of knowledge and experience in the field of public sector auditing.
4. To provide a conducive surround and facilities for research, training, and education amidst the members
5. To serve every bit a centre of data and as an ASEAN link with other international organizations.

Question 39.
Give two examples for directly tax.
Answer:

1. Equity: Direct taxes are progressive i.e. rate of tax varies co-ordinate to tax base. For example, income tax satisfies the canon of disinterestedness.
2. Certainity: Canon of certainty can exist ensured past directly taxes. For example, an income tax payer knows when and at what rate he has to pay income tax.

Question 40.
Define economic planning.
Answer:
Economical Planning is "collective control or suppression of individual activities of production and commutation". – Robbins
"Economic Planning in the widest sense is the deliberate direction by persons in-accuse of large resources of economical activity towards called ends". – Dalton

PART – 4

Answer all the questions. [vii x 5 = 35]

Question 41 (a).
Compare the feature among Capitalism, Secularism and Mixedism.
Answer:

[OR]

(b) What are the difficulties involved in the measurement of national income?
Answer:
Difficulties in Measuring National Income:
In India, a special conceptual problem is posed by the existence of a large, unorganised and non-monetised subsistence sector where the barter system still prevails for transacting goods and services. Here, a proper valuation of output is very difficult.

Transfer payments:

1. Regime makes payments in the form of pensions, unemployment allowance, subsidies, etc. These are government expenditure.
2. Simply they are not included in the national income.
3. Because they are paid without adding anything to the production processes.
4. During a year, Interest on national debt is likewise considered transfer payments because it is paid by the government to individuals and firms on their past savings without whatever productive work.

Difficulties in assessing depreciation assart:

1. The deduction of depreciation allowances, accidental amercement, repair and replacement charges from the national income is not an piece of cake job.
2. Information technology requires high degree of judgment to assess the depreciation allowance and other charges.

Unpaid services:

1. A housewife renders a number of useful services similar preparation of meals, serving, tailoring, mending, washing, cleaning, bringing upwardly children, etc.
2. She is not paid for them and her services are not direct included in national income.

Income from illegal activities:

1. Income earned through illegal activities like gambling, smuggling, illicit extraction of . liquor, etc., is non included in national income.
2. Such activities have value and satisfy the wants of the people but they are not considered as productive from the point of view of society.

Production for self-consumption and irresolute price:

1. Farmers keep a large portion of food and other goods produced on the farm for self consumption.
2. The problem is whether that part of the produce which is not sold in the market can exist included in national income or not.

Upper-case letter Gains:

1. The problem as well arises with regard to capital gains.
2. Capital gains arise when a capital asset such as a house, other property, stocks or shares, etc. is sold at higher price than was paid for it at the fourth dimension of purchase.
3. Capital gains are excluded from national income.

Statistical bug:

1. In that location are statistical issues, too. Smashing care is required to avoid double counting. Statistical data may non exist perfectly reliable, when they are compiled from numerous sources.
2. Skill and efficiency of the statistical staff and cooperation of people at large are also every bit important in estimating national income.

Question 42 (a).
Write short note on the implications of Say's police force.
Answer:
Implications of Say's Law:

1. There is no possibility for over product or unemployment.
2. If there exist unutilized resource in the economic system, it is assisting to utilise them upward to the point of total employment. This is true under the condition that factors are willing to have rewards on a par with their productivity.
3. Equally automatic toll machinery operates in the economy, there is no need for government intervention. (All the same, J.M. Keynes emphasized the part of the State)
4. Interest flexibility brings almost equality betwixt saving and investment.
5. Money performs merely the medium of substitution function in the economy, as people will not hold idle coin.

[OR]

(b) State the propositions of Keynes's Psychological Law of Consumption.
Answer:
Propositions of the Law:
This police has three propositions:
(i) When income increases, consumption expenditure also increases but by a smaller amount. The reason is that every bit income increases, we wants are satisfied side by side, and so that the need to spend more than on consumer goods diminishes. So, the consumption expenditure increases with increase in income but less than proportionately.

(ii) The increased income will exist divided in some proportion between consumption expenditure and saving. This follows from the first proposition because when the whole of increased income is not spent on consumption, the remaining is saved. In this way, consumption and saving move together.

(iii) Increment in income always leads to an increment in both consumption and saving. This means that increased income is unlikely to lead to fall in either consumption or saving. Thus with increased income both consumption and saving increase.

Question 43 (a).
Bring out the methods of credit control.
Answer:
Methods of Credit Control:
one. Bank Rate Policy:
The banking concern charge per unit is the rate at which the Central Bank of a country' is prepared to re-discount the first class securities.

two. Open Market place Operations:

• In narrow sense, the Fundamental Bank starts the purchase and sale of Government securities in the money market.
• In Broad Sense, the Central Bank purchases and sells not only Authorities securities but also other proper eligible securities like bills and securities of private concerns.

3. Variable Reserve Ratio:
(i) Greenbacks Reserves Ratio:

• Under this organization the Central Banking company controls credit by changing the Cash Reserves Ratio.
• For example, if the Commercial Banks take excessive cash reserves on the basis of which they are creating likewise much of credit,this will exist harmful for the larger interest of the economic system.
• So it will enhance the greenbacks reserve ratio which the Commercial Banks are required to maintain with the Central Banking company.

(ii) Statutory Liquidity Ratio:

• Statutory Liquidity Ratio (SLR) is the amount which a bank has to maintain securities.
• The breakthrough is specified as some percentage of the total demand and fourth dimension liabilities (i.e., the liabilities of the depository financial institution which are payable on demand anytime, and those liabilities which are accruing in i month's fourth dimension due to maturity) of a bank.

[OR]

(b) Briefly explicate the gains from International Trade Categories.
Answer:
Gains from International Trade:

• International trade helps a country to export its surplus goods to other countries and secure a better market for information technology.
• Similarly, international trade helps a country to import the appurtenances which cannot be produced at all or can be produced at a higher cost.
• The gains from international trade may be categorized under four heads.

I. Efficient Production:
International merchandise enables each participatory country to specialize in the production of appurtenances in which it has absolute or comparative advantages. International specialization offers the post-obit gains.

1. Better utilization of resource.
2. Concentration in the production of goods in which information technology has a comparative advantage.
3. Saving in time.
4. Perfection of skills in production.
5. Comeback in the techniques of product.
6. Increased product.
7. Higher standard of living in the trading countries.

II. Equalization of Prices between Countries:
International trade may help to equalize prices in all the trading countries.

1. Prices of appurtenances are equalized between the countries (Withal, in reality it has not happened).
2. The departure is only with regard to the cost of transportation.
3. Prices of factors of production are also equalized (However, in reality information technology has non happened).

III. Equitable Distribution of Scarce Materials:
International merchandise may help the trading countries to take equitable distribution of scarce resources.

Four. General Advantages of International Trade:

1. Availability of variety of goods for consumption.
2. Generation of more than employment opportunities.
3. Industrialization of backward nations.
4. Comeback in relationship among countries (Even so, in reality it has non happened).
5. Partition of labour and specialisation.
6. Expansion in send facilities.

Question 44 (a).
Write a annotation on SAARC.
Respond:
Due south Asian Association For Regional Co-Operation (SAARC):

1. The South Asian Association for Regional Co-operation (SAARC) is an organisation of South Asian nations, which was established on 8 December 1985 for the promotion of economic and social progress, cultural development within the South Asia region and also for friendship and co-performance with other developing countries.
2. The SAARC Grouping (SAARC) comprises of Bangaladesh, Bhutan, Republic of india, The Maldives, Nepal, Pakistan and Sri Lanka.
3. In April 2007, Afghanistan became its 8th member.
4. The bones aim of the organisation is to accelerate the process of economical and social development of member states through joint action in the agreed areas of cooperation.
5. The SAARC Secretariat was established in Kathmandu (Nepal) on 16th January 1987.
6. The start SAARC top was held at Dhaka in the year 1985.
7. SAARC meets once in two years. Recently, the 20th SAARC summit was hosted by Sri Lanka in 2018.

[OR]

(b) Briefly explain facilities offered by International monetary fund.
Reply:
Facilities offered past IMF:
The Fund has created several new credit facilities for its members. Primary amidst them are:
(i) Basic Credit Facility:

• The International monetary fund provides financial assist to its member nations to overcome their temporary difficulties relating to balance of payments.
• A member nation tin purchase from the Fund other currencies or SDRs, in commutation for its own currency, to finance payment deficits.
• The loan is repaid when the member repurchases its ain currency with other currencies or SDRs.
• A fellow member tin unconditionally infringe from the Fund in a yr equal to 25% of its quota.
• This unconditional borrowing correct is called the reserve tranche.

(ii) Extended Fund Facility:

• Under this organisation, the IMF provides boosted borrowing facility upwards to 140% of the fellow member'due south quota, over and above the basic credit facility.
• The extended facility is limited for a menstruum up to three years and the rate of interest is low.

(3) Compensatory Financing Facility:

• In 1963, IMF established compensatory financing facility to provide additional financial assistance to the member countries, particularly principal producing countries facing shortfall in export earnings.
• In 1981, the coverage of the compensatory financing facility was extended to payment problem acquired by the fluctuations in the cost of cereal inputs.

(iv) Buffer Stock Facility:

• The buffer stock financing facility was started in 1969.
• The purpose of this scheme was to aid the primary goods (nutrient grains) producing countries to finance contributions to buffer stock arrangements for the stabilisation of primary product prices.

(v) Supplementary Financing Facility:
Under the supplementary financing facility, the International monetary fund makes temporary arrangements to provide supplementary financial assistance to member countries facing payments problems relating to their present quota sizes.

(vi) Structural Adjustment Facility:

• The IMF established Structural Adjustment Facility (SAF) in March 1986 to provide additional rest of payments aid on concessional terms to the poorer fellow member countries.
• In Dec 1987, the Enhanced Structural Adjustment Facility (ESAF) was set upward to augment the availability of concessional resources to low income countries.
• The purpose of SAF and ESAF is to force the poor countries to undertake strong macroeconomic and structural programmes to amend their balance of payments positions and promote economic growth.

Question 45 (a).
What are the functions of a mod state?
Respond:
Functions of Modern State:
The modem state is a welfare state and not but police land. The land assumes greater roles by creating economical and social overheads, ensuring stability both internally and externally, conserving resources for sustainable development and so on.

(i) Defence force:

1. The primary function of the Authorities is to protect the people from external aggression and internal disorder.
2. The government has to maintain adequate police and armed services forces and render protective
   services.

(ii) Judiciary:

1. Rendering justice and settlement of disputes are the concern of the government.
2. Information technology should provide adequate judicial construction to return justice to all classes of citizens,

(iii) Enterprises:

1. The regulation and control of private enterprise autumn under the purview of the modem State.
2. Buying of certain enterprises and operating them successfully are the responsibilities of the regime.

(iv) Social Welfare:
It is the duty of the state to brand provisions for teaching, social security, social insurance, health and sanitation for the betterment of the people in the country.

(v) Infrastructure:
Modem States have to build the base for the economical development of the country by creating social and economical infrastructure.

(half dozen) Macro-economic policy:
The Government has to administer fiscal policy and monetary policy to reach macro¬economic goals.

(vii) Social Justice:

1. During the process of growth of an economy, sure sections of the order gain at the cost of others.
2. The Government needs to intervene with financial measures to redistribute income.

(viii) Command of Monopoly:
Concentration of economic power is another evil to be corrected past the Regime. So, the country intervenes through control of monopolies and restrictive trade practices to curb concentration of economical power.

[OR]

(b) What are the causes of h2o pollution?
Reply:
Water pollution is acquired due to several reasons. Hither are the few major causes of water pollution:
(i) Discharge of sewage and waste water:

1. Sewage, garbage and liquid waste material of households, agricultural runoff and effluents from factories are discharged into lakes and rivers.
2. These wastes contain harmful chemicals and toxins which make the water poisonous for aquatic animals and plants.

(two) Dumping of solid wastes:
The dumping of solid wastes and litters in h2o bodies crusade huge problems.

(iii) Belch of industrial wastes:
Industrial waste contains pollutants like asbestos, pb, mercury, grease oil and petrochemicals, which are extremely harmful to both people and environment.

(4) Oil Spill:
Sea water gets polluted due to oil spilled from ships and tankers while travelling. The spilled oil does not deliquesce in water and forms a thick sludge polluting the water.

(five) Acid pelting:

1. Acid rain is pollution of water caused past air pollution.
2. When the acidic particles caused by air pollution in the atmosphere mix with water vapor, it results in acrid rain.

(6) Global warming:
Due to global warming, there is an increase in water temperature every bit a result aquatic plants and animals are affected.

(vii) Eutrophication:

1. Eutrophication is an increased level of nutrients in water bodies.
2. This results in bloom of algae in water.
3. It too depletes the oxygen in h2o which negatively affects fish and other aquatic animal population.

Question 46 (a).
Explain different sources of e-waste.
Answer:

[OR]

(b) What are the non-economic factors determining evolution?
Answer:
Non-Economic. Factors:

1. Human being Resource
2. Technical Know-how
3. Political Freedom
4. Social System
5. Corruption free administration
6. Desire for Development
7. Moral, ethical and social values
8. Casino Capitalism
9. Patrimonial Capitalism

Non-Economical Factors: 'Economic Development has much to do with human endowments, social attitudes, political conditions and historical accidents. Capital is a necessary but not a sufficient status of progress.
(i) Human Resources:

• Human resource is named as human capital because of its power to increase productivity and thereby national income.
• There is a circular relationship betwixt human development and economical growth.
• A healthy, educated and skilled labour strength is the most important productive asset.
• Human capital germination is the procedure of increasing knowledge, skills and the productive capacity of people.

(ii) Technical Know-how:
As the scientific and technological knowledge advances, more than and more sophisticated techniques steadily enhance the productivity levels in all sectors.

(iii) Political Freedom:
The process of development is linked with the political freedom.

(4) Social Arrangement:
People show involvement in the development activity but when they feel that the fruits of evolution will exist fairly distributed.

(v) Corruption gratuitous assistants:

• Corruption is a negative cistron in the growth process.
• Unless the countries root-out corruption in their administrative system, the crony capitalists and traders will continue to exploit national resource.

(vi) Want for development:
The pace of economic growth in any state depends to a great extent on people's want for development.

(seven) Moral, ethical and social values:

• These determine the efficiency of the market, according to Douglas C. Northward.
• If people are not honest, market cannot function.

(8) Casino Commercialism:
If People spend larger proportion of their income and time on entertainment liquor and other illegal activities, productive activities may suffer, according to Thomas Piketty.

(ix) Patrimonial Capitalism:
If the assets are but passed on to children from their parents, the children would non work hard, considering the children do not know the value of the assets.

Question 47 (a).
Describe different types of Planning.
Reply:

(i) Democratic Vs Totalitarian:
A course of rule in which the government attempts to maintain 'total' control over society, including all aspects of the public and private lives of its citizens.

(two) Centralized Vs Decentralized:

• Under centralized planning, the unabridged planning process in a land is nether a cardinal planning potency.
• This authority formulates a central plan, fixes objectives, targets and priorities for every sector of the economic system.
• In other words, it is chosen 'planning from higher up'.

(iii) Planning by Direction Vs Inducement:
Under planning by direction, in that location is a primal authorisation which plans, directs and orders the execution of the plan in accord with pre-adamant targets and priorities.

(iv) Indicative Vs Imperative Planning:

• Indicative planning is peculiar to the mixed economies. It has been in practise in France since the Monnet Plan of 1947-l.
• In a mixed economy, the private sector and the public sector work together.
• Under this plan, the outline of program is prepared past the Government.
• And then it is discussed with the representatives of private direction, trade unions, consumer groups, finance institutions and other experts.

(v) Short, Medium and Long term Planning:

• Short-term plans are as well known every bit 'decision-making plans'.
• They encompass the period of 1 year, therefore, they are also known equally 'annual plans'.

(vi) Financial Vs Concrete Planning:
Financial planning refers to the technique of planning in which resource are allocated in terms of coin while concrete planning pertains to the allocation of resource in terms of men, materials and machinery.

(vii) Functional Vs Structural Planning:
Functional planning refers to that planning which seeks to remove economic difficulties by directing all the planning activities inside the existing economic and social construction.

(viii) Comprehensive Vs Fractional Planning:
General planning which concerns itself with the major issues for the whole economy is known as comprehensive planning whereas fractional planning is to consider only the few important sectors of the economic system.

[OR]

(b) Talk over the Economical planning of Democratic planning and Totalitarian planning.
Respond:
Democratic Vs Totalitarian:

1. Democratic planning implies planning within democracy.
2. People are associated at every step in the formulation and implementation of the plan.
3. A democratic plan is characterized by the widest possible consultations with the various country governments and private enterprises at the stage of preparation.
4. The program prepared past the Planning Commission is not accepted as such.
5. It tin can be accepted, rejected or modified by the Parliament of the country.
6. Under totalitarian planning, there is central control and direction of all economic activities in accordance with a unmarried program.
7. Consumption, production, exchange, and distribution are all controlled by the country. In disciplinarian planning, the planning potency is the supreme body.
8. Information technology decides nigh the targets, schemes, allocations, methods and procedures of implementation of the plan.

What Is The Marginal Cost Of Providing Monthly Services For A 6th ​patient?,

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