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NIOS Solved Papers: Economics (214) - Oct' 2014

Economics Solved Papers
OCTOBER 2014
1. Which one of the following is a characteristic of goods?
a)         Goods cannot be transferred.
b)         Goods can be seen and touched.
c)          There is no time gap between the production and consumption of goods.
d)         Goods cannot be stored.
Ans.:- (b) Goods can be seen and touched.
2. Purchase of a cycle by a household is treated as:
a)         Capital formation.                 
b)         Production.
c)          Consumption.                        
d)         Production for self consumption.
Ans.:- (c) Consumption.

3. Rent is paid for the use of
a)         Land.                                          
b)         Labour.
c)          Capital.                                      
d)         Entrepreneurship.
Ans.:- (a) Land.
4. Marginal cost refers to:
a)         The cost which does not change with the change in amount of production of a goods.
b)         The cost which changes with the change in amount of production of a good.
c)          The cost per unit of output.
d)         Increase in total cost due to increase in one extra unit of output.
Ans.:- (d) Increase in total cost due to increase in one extra unit of output.
5. A production unit owned by a single individual is known as:
a)         A Partnership.                        
b)         A Private Company.
c)          Sole Proprietorship.                             
d)         A Public Production Unit.
Ans.:- (c) Sole Proprietorship.
6. Supply of a commodity refers to:       
a)         Quantity of the commodity offered for sale at different prices.
b)         Quantity of the commodity offered for sale at a given price at a given time.
c)          Quantity of the commodity offered for sale per unit of time.
d)         Quantity of the commodity produced by the firm.
Ans.:- (b) Quantity of the commodity offered for sale at a given price at a given time.
7. A household consumes 14 kg of sugar per week. Its average daily consumption of sugar is
a)         2 kg.            
b)         7 kg.            
c)          14 kg.         
d)         1 kg.
Ans.:- (a) 2 kg.
8. Noise pollution can cause:
a)         Coughing.                 
b)         Typhoid.
c)          Cholera.                    
d)         Hypertension.
Ans.:- (d) Hypertension.
9. ‘Wants change and expand with development’. Explain with the help of an example.                                              2
Ans.:- Ans.:- In ancient times, man was satisfied with simple items of food, clothing and shelter etc. But with the development these wants grew in nature and number. Our want for food we eat has changed. We want to eat not only better and nutritious food but different varieties of food. Similarly we want to wear not only a pair of clothes but we want variety as well as latest designs according to the fashion, we want to have a better house with modern facilities like, air conditioners, geysers etc.
10. State any two reasons which give rise to economic problems.                                            2
Ans.:- Two reasons which give rise to economic problems are
a)         The resources are scarce and
The resources can be put to many alternative uses





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