Question

5.

(a) How do you think that India is a mixed economy? Give arguments in support of your

answer. (7)

(b) Give four features of each:- capitalist and socialist economy.



6.

(a) "Economic problem is essentially a problem of making choices in the presence of (8)

scarcity".Explain. (7)

(b) Give four features of each :- developed and underdeveloped economy.



7. (8)

(a) Indian economy is a developed economy. Justify

(b) " Mixed economies are a golden path of economic development". Give reasons in (7)

support of your statement

8. (8)

(a) How do households and firms interact with each other in a modern economy. (7)

(b). Differentiate between economic growth and economic development.



9. (8)

(a) What are the main features of scarcity definition? (7)

(b) Explain any four direct and indirect role of the government.



10.

(a) Using the data given answer the following questions:

1973 2003

Share in GDP 45% 22% Share in employment 72% 61%



(A) What changes do you observe in the primary sector in the field of employment? (B) Why does the primary sector continue to be the largest employer in India.

(C) Choose the correct answer:

Under employment occurs when people: (a) do not want to work

(b) are working in a lazy manner

(c) are working less than what they are capable of doing and

(d) are not paid for their work. (7) (8)

(b) Write two-two importance of each: household, consumer, firm and government. (8)



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Answer 1

Answer:

Choose the correct answer

Option C is the correct answer...

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