Friday, June 12, 2020

NIOS Solved Papers: Economics (214) - April' 2017

ECONOMICS - PAPER SOLVED
APRIL 2017
1. Which one of the following is a positive statement?
a)         Government should increase the wage of labours
b)         India has a large number of unemployed youth.
c)          Government should prove houses to poor people at low prices.
d)         Government should provide free education to all.
Ans.:- (b) India has a large number of unemployed youth.
2. Which one of the following is a non-economic factor of economic development?
a)         Natural resources.
b)         Racial factors.
c)          Capital formation.
d)         Technology.
Ans.:- (a) Natural resources.

 3. The problem of ‘What good s and services shall be produced’ is related to
a)         Which goods and services are to be produced.
b)         The method by which goods and services are to be produced.
c)          Distribution of income and wealth in the society.
d)         Who is to enjoy and get the benefit of the goods and services produced.
Ans.:- (a) Which goods and services are to be produced.
4. A production unit owned by a single individual is known as
a)         A partnership.        
b)         A private company.
c)          Sole proprietorship.             
d)         A public distribution unit.
Ans.:- (c) Sole proprietorship.
5. Marginal revenue is
a)         The amount a seller receives by selling certain quantity of a commodity.
b)         Revenue per unit of the commodity sold.
c)          Increase in total revenue due to one unit increase in the sale of the quantity of output.
d)         The total amount of money received by the seller during a given time period.
Ans.:- (b) Revenue per unit of the commodity sold.
6. Demand for a commodity refers to
a)         Quantity of the commodity that a buyer is willing to buy at a given price per unit of time.
b)         Quantity of the commodity purchased per unit of time.
c)          Quantity of the commodity that a buyer is willing to buy.
d)         Quantity of the commodity purchased at a given price.
Ans.:- (a) Quantity of the commodity that a buyer is willing to buy at a given price per unit of time.
7. Data means
a)         Quantitative and qualitative information.
b)         Quantitative and qualitative information providing facts in aggregate manner.
c)          Qualitative information providing facts in aggregate manner.
d)         Quantitative information providing facts in aggregate manner.
Ans.:- (d) Quantitative information providing facts in aggregate manner.
8. One of the major sources of water pollution is
a)         Exhaust of vehicles and automobiles.
b)         Discharge from sewage treatment plants.
c)          Vehicular traffic.
d)         Construction work on roads.
Ans.:- (b) Discharge from sewage treatment plants.
9. ‘Some wants arise again and again’. Justify this statement.               2
Ans.:- Most wants recur. If they are satisfied once, they arise again after a certain period. We eat food and hunger is satisfied but after a few hours, we again feel hungry and we have to satisfy our hunger again with food. Therefore, hunger, thirst etc. are such wants which occur again and again.
10. What is meant by ‘entrepreneurship’ as a factor of production?          2
Ans.:-  An entrepreneur is a person who combines the other factors of production – land, labour and capital – to earn a profit. The most successful entrepreneurs are innovators who find new ways produce goods and services.






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