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Economics (214)
Tutor Marked Assignment

Note: (i) All questions are compulsory. The marks allotted for each question are given beside the questions.
(ii) Write your name, enrollent numbers, AI name and subject on the first page of the answer sheet.

1. Answer any one of the following questions in about 40-60 words.
(a) “The concept of macro economics is based on the knowledge of the basic concept of micro economic.” Explain the statement with suitable example. (See Lesson 1)
(b) “Present wants are more important than the future wants.” Support this statement with suitable argument. Explain. (See Lesson 2)
2. Answer any one of the following questions in about 40 to 60 words.
(a) Distinguish between capitalist economy and socialist economy based on four characteristics. (See Lesson 4)
(b) “Developing economy needs to adopt labour intensive-technique of production.” State any four reasons to justify the statement. (See Lesson 5)

3. Answer any one of the following questions in about 40 to 60 words.
(a) (i) Suppose you are a seller of tomatoes and you have 100 kg of tomatoes for sale. The market price is Rs 20 per kg. At this price the demand for tomatoes is only 60 kg. How will it affect the price of tomatoes fixed by you?
(ii) As in Question No. 1, if at price Rs 20 per kg the demand for tomatoes is 150 kg. How will this affect the price of tomatoes fixed by you? (See Lesson-11)

(b) The role of producers in a perfectly competitive market and a monopoly market is reversed while determining the price of a commodity. Explain the reason. (See Lesson-12)

4. Answer any one of the following questions in about 100 to 150 words.
(a) “Support price is fixed by the Government to protect the interest of producers specially farmers to increase the agricultural productivity of the nation.” Explain the statement with a suitable example. (See Lesson-13)
(b) “Insurance Policy provides the economic security to family members of a family.” In light of the statement, explain the benefits of insurance policy. (See Lesson-16)

5. Answer any one of the following questions in about 100 to 150 words.
(a) “Online shopping is considered as a new wave to protect the practices of consumerism against exploitation.” Justify the statement. (See Lesson -12)
(b) British rule has provided the basis to introduce 5-years plan to channelise the available resources of Indian economy. Comment on the statement. (See Lesson – 19)

6. Prepare any one project out of the given topics below.
a) Prepare a project work on ‘The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS)’ introduced by the Govt. under the structure of the following headings-
 Introduction
 Meaning and present situation of employment introduced in the recent years
 A brief description of The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS)’
 Objectives and relevance of the scheme
 Conclusion and Suggestions (See Lesson-21)

(b) Prepare a project on the opening of a savings bank account in a Commercial Bank situated in your nearby locality under the following headings –
 Guidelines provided by the employee
 Documents required for opening a saving account
 Copy of documents
 Benefits after opening an account (See Lesson-16)