Model Question Paper-1



Time Allowed: 3.00 hrs. Max. Marks: 90


1) Check the question paper for fairness of printing. If there is any lack of fairness, inform the Hall Supervisor immediately.

2) Use blue or black ink must be used to write and underline. Pencil can be used to draw the diagrams.

Note: (i) Answer all the questions.          20×1=20

 (ii) Choose the most appropriate answer from the given four alternatives and write the option code with the corresponding answer.

1. The equilibrium price is the price at which ________.

a) Everything is sold

b) Buyers spend their money

c) Quantity demanded equal quantity supplied

d) Excess demand is zero

2. The concept of elasticity of demand was introduced by

a) Ferguson b) Keynes

c) Adam Smith d) Marshall

3. Ordinal utility can be measured by ________.

a) Ranking b) Numbering

c) Wording d) None of these

4. Cobb–Douglas production function assumes ________.

a) Increasing returns to scale b) Diminishing returns to scale

c) Constant returns to scale

d) All of the above

5. The primary factors of production are ________.

a) Labour and Organisation

b) Labour and Capital

c) Land and Capital

d) Land and Labour

6. Find the total cost where TFC = 100 and TVC = 125.

a) 125

b) 175

c) 225

d) 325

7. Another name of price is ________.

a) Average Revenue 

b) Marginal Revenue

c) Total Revenue

d) Average cost

8. ________ arises when products or services are sold and 

bought in the place of their production.

a) Local market

b) Provincial market

c) National market

d) International market

9. The reward for labour is ________.

a) Rent

b) Wages

c) Profit

d) Interest

10. The advocate of democratic socialism was ________.

a) Jawaharlal Nehru

b) P.C. Mahalanobis

c) Dr. Rajendra Prasad

d) Indira Gandhi

11. ________ was responsible for the introduction of 

planing in our country.

a) Jawaharlal Nehru

b) Gandhiji

c) Ambedkar

d) Thiruvalluvar

12. The First World War started in the year ________.

a) 1914

b) 1814

c) 1941


13. The Goods and Services Tax Act came into effect on ___.

a) 1st July 2017

b) 1st July 2016

c) 1st January 2017

d) 1st January 2016

14. The year ________ is an important landmark in the 

economic history of post independent India.

a) 1991

b) 1995

c) 2001

d) 2011

15. Indicate the cause for rural poverty:

a) Lack of non-farm employment

b) High employment

c) Low inflation rate

d) High investment

16. The National Rural Health Mission was launched on ___.

a) 12th April 2005

b) 12th April 2006

c) 12th May 2005

d) 12th May 2006

17. In health index, Tamil Nadu is ahead of ________.

a) Kerala

b) Punjab

c) Gujarat

d) All the above

18. ________ has the highest installed wind energy capacity 

in India.

a) Tamil Nadu

b) Kerala

c) Andhra Pradesh

d) Karnataka

19. Mathematical Economics is the integration of ________

a) Mathematics and Economics

b) Economics and Statistics

c) Economics and Equations

d) Graphs and Economics

20. The point of intersection of demand line and supply line 

is known as ________.

a) Equilibrium

b) Equation

c) Solution

d) Constant


Note: Answer any seven questions. Q. No. 30 is compulsory.


21. Define micro economics.

22. What are the degrees of price elasticity of demand?

23. Define Revenue.

24. Who is price taker?

25. Define Rent.

26. State any two features of developed economy.

27. Define Zamindari System.

28. Why was structural reform implemented in Indian Economy?

29. Write any three causes for rural poverty.

30. How to open a Word Document?


Note: Answer any seven questions. Q. No. 40 is compulsory.


31. Compare positive economics and normative economics.

32. Distinguish between extension and contraction of demand.

33. What are the factors governing elasticity of supply?

34. State the relationship between AC and MC.

35. Differentiate between “Firm” and “Industry”.

36. List out the kinds of wages.

37. State Ambedkar’s Economic ideas on agricultural economics.

38. Explain any three weaknesses of Green Revolution.

39. What are the schemes under poverty eradication?

40. Explain various types of transport in Tamil Nadu.

Model Question Papers


Note: Answer all the questions.


41. a) Explain the various steps of Deductive and Inductive Method.


b) What are the types of Economics?

42. a) What are the methods of measuring elasticity of demand?


b) Explain the law of supply with a diagram.

43. a) Elucidate the Laws of Returns to Scale. Illustrate.


b) How price and output are determined under the perfect 


44. a) Explain Long run equilibrium of a firm and the group 

equilibrium in monopolistic competition.


b) Explain the Keynesian Theory of interest.

45. a) Explain about Health in India.


b) Describe the performance of 12th Five year Plan in India.

46. a) Describe the salient features of EXIM Policy (2015–2020).


b) Compare the Per Capita Income of Tamil Nadu with other 


47. a) Explain the various sources of energy in Tamil Nadu.


b) Find the solution of the system of equation.

 7x₁–x₂– x₃= 0

 10₁ –2 x ₂+ x₃= 8

 6x₁ + 3x₂ – 2x₃ = 7

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