St Anthony's College BA Economics Entrance Test Model Question Paper : www.anthonys.ac.in

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St Anthony's College Shillong
Entrance Test For Admission Into
Under Graduate Courses 2009 Economics
Duration: 1 Hour 30 Minutes

Model Question List : http://www.anthonys.ac.in/questions.html
Model Question Paper : http://www.anthonys.ac.in/downloads/q2009/BAEco2009.pdf

PART – A (ECONOMICS) 50 MARKS
1. Put a ? mark against each correct answer. 1*15=15
i. Which of the following statement is correct?
a. commodity will have value if it is wanted by somebody
b. commodity will have value only if it is scarce relative to demand
c. The value of a commodity depends upon its price
d. The value of a commodity is entirely dependant upon the demand for it

ii. “Demand “is the desire of goods backed by
a. the consumer’s preference
b. the consumer’s income
c. the willingness and the ability to pay

iii. Which of the following has the lowest elasticity of demand?
a. car
b. salt
c. tea
d. houses

iv. Which of the following pairs of commodities is an example of substitutes?
a. coffee and milk
b. diamond and cow
c. pen and ink
d. mustard oil and coconut oil

v. Utility in Economics means
a. Want satisfying power of a commodity
b. pleasure
c. happiness

vi. “Giffen Goods” are those goods
a. for which demand increases as price increases
b. which are in very short supply
c. which have a high income elasticity of demand
d. which have a low cross elasticity of demand

vii. Production is a function of
a. profits
b. factors
c. price

viii. Marginal cost curves cuts the average cost curve
a. at the left of its lowest point
b. at its lowest point
c. at the right of its lowest point

ix. When AR=Rs.8 and AC=Rs.10 the firm makes
a. Normal Profit
b. Net Profit
c. Gross Profit
d. Loss

x. Amartya Sen won the Nobel Prize for Economics in the year
a. 1998
b. 1999
c. 1997
d. 2000

xi. The concept of Elasticity of Demand was evolved by
a. Alfred Marshall
b. Jeremy Bentham
c. David Ricardo
d. Adam Smith

xii. The first Industrial Policy Resolution was presented in
a. 1947
b. 1948
c. 1949
d. 1950

xiii. The essential condition to be called money is its
a. General acceptability
b. Intrinsic value
c. Availability
d. None of these

xiv. “A Treatise on money” was written by
a. J.M.Keynes
b. A.Marshall
c. A.Smith
d. L.Robbins

xv. In India which sector contributes the largest share to the National Income?
a. Primary Sector
b. Tertiary Sector
c. Secondary Sector