FINAL EXAMINATION 2014ECONOMICSClass XITime: 3:00 hrs Maximum Marks: 80Part I(All questions are compulsory. Write briefly and to the point.) Q1) 2X10=20a) Give two differences between a capitalistic and socialistic economies.b) Why does production possibility curve slopes downward to the right?c) State any two factors which led to the economic reforms in India in 1991.d) Explain the poverty line in terms of minimum national level of food energy required for subsistence.e) How does agriculture provide a market for industrial products?f) State the main objectives of Sarva Shiksha Abhiyaan. When was the scheme launched?g) Distinguish between organized and the unorganized sector in an economy.h) Mention any two similarities between the Indian and Chinese economies.i) Give any two characteristics of statistical data.j) What is the function of Food Corporation of India?Part II(Attempt any five questions)Q2) a) Discuss the problem of how to produce which an economy has to face. (3)b) Write a short note on SAARC. (3)c) Which is the best type of economic system for a country to adopt? Give four reasons in support of your answer. (6)Q3)a) Discuss any three differences between economic growth and economic development.(3)b) How is the problem of what to produce solved in a capitalistic economy? (3) c) Explain any four functions of price mechanism in an economy. (6)

Q4)a) How does privatization (i) create competitive environment, (ii) Greater flexibility in decision making? (3)b) Define liberalization. What liberalization measures have been taken in Capital Market? (3)c) Discuss any four advantages of globalization. (6)Q5)a) Explain the vicious circle of poverty from the demand side. (3)b) Write a short note on any two of the following (i) Employment Assurance Scheme, (ii) Jawajar Gram Samriddhi Yojana, (iii) SwarnaJayanti Gram Swarojgar Yojana. (3)c) Discuss any four causes of poverty. (6)Q6)a) Explain any three advantages of cooperative marketing. (3)b) What is meant by agricultural Diversification? Explain any one feature of recent diversification. (3)c) Discuss any three institutional sources of agricultural finance in the country. (6)Q7)a) Explain any one type of unemployment which is mainly found in developed economies. (3)b) How does unemployment cause loss of efficiency of labour force. (3)c) Discuss any four causes of unemployment in India. (6)Q8)a) Distinguish between human capital and physical capital. State any two shortcomings of education sector. (3)b) Explain any three reforms introduced in China since 1978. (3)c) Compare the Indian and Chinese economies on the basis of: (i) Nature of the economy, (ii) Financial sector, (iii) Population Growth, (iv) Poverty reductions. (6)Q9)a) Explain any two points showing the importance of statistics in an economy. (3)b) Give two disadvantages of the study of statistics. (3)c) The following table gives weight of sixty workers in a factory: (2+4)Weight in kgs646362616059

Number of workers81812976

Calculate arithmetic mean using (i) direct method, (ii) short-cut method.