AP Inter 1st Year Economics Question Paper April 2022

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AP Inter 1st Year Economics Question Paper April 2022

Time : 3 Hours
Max. Marks: 60

Note : Read the following instructions carefully.

1. Answer all the questions as per the choice specified. Draw suitable diagrams wherever necessary.
2. Questions from Serial Nos. 1 to 5 in Section – A are of Long Answer Type. Each question carries ten marks. Any three questions may be answered out of five given questions. Ev-ery answer may be limited to 40 lines.
3. Questions from Serial Nos. 6 to 17 in Section – B are of “Short Answer Type”. Each question carries five marks. Any eight questions may be answered out of twelve given questions. Every answer may be limited to 20 lines.
4. Questions from Serial Nos. 18 to 37 in Section – C are of “Very Short Answer Type”. Each question carries two marks. Any fifteen questions may be answered out of twenty given questions. Every answer may be limited to 5 lines.

Section – A

Note : Answer ANY THREE out of the following five questions. (3 × 10 = 30)

Question 1.
Explain the law of diminishing marginal utility and its limita-tions.

Question 2.
Explain the law of returns to scale.

Question 3.
Explain the classification of Markets.

Question 4.
Explain the various methods of calculating National Income.

Question 5.
Explain the Keynesian theory of employment.

Section – B

Note : Answer ANY THREE out of the following five twelve question (8 × 5 = 40)

Question 6.
Analyse the characteristics of wants.

Question 7.
Explain the Jacob Viner’s definitions of Economics.

Question 8.
Explain the properties of Indifference Curve.

Question 9.
What are the factors that determine demand?

Question 10.
Explain the exceptions to the law of demand.

Question 11.
What are the features of perfect competition?

Question 12.
Explain the concepts of Quasi rent with the help of a Diagram.

Question 13.
What are the factors that determine National Income?

Question 14.
What are the sources of Public Revenue?

Question 15.
State the types of Inflation.

Question 16.
State any three definitions of Money.

Question 17.
Explain’the Importance of statistics.

Section – C

Note : Answer ANY EIGHT out of the following twelve question (15 × 2 = 30)

Question 18.
Price

Question 19.
Intermediary goods

Question 20.
Cardinal utility

Question 21.
Demand

Question 22.
Cross Demand

Question 23.
Production Function

Question 24.
Monopolistic Competition

Question 25.
Price Discrimination

Question 26.
Transfer Earnings

Question 27.
Contract Rent

Question 28.
Gross National Product

Question 29.
Depreciation

Question 30.
Budget

Question 31.
Fiscal deficit

Question 32.
Store of value

Question 33.
Liquidity

Question 34.
Reserve Bank of India

Question 35.
Near Money

Question 36.
Arithmetic Mean

Question 37.
17, 6, 19, 14, 8, 6, 12, 15, 6, 10 Compute mode for the Data.