Paper Code Number: (A) wzg (,ƒg!*k ) II - ^g0* yjzf$zú Z uz zš p6,]â ç ECONOMICS PAPER-II TIME ALLOWED: 30 Minutes OBJECTIVE è zcz 4 30 = Ü

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1 Number: 8111 MAXIMUM MARKS: = À (1) Transfer payments include in:- (A) G.D.P g ZzZa±x { X Cƒï á VœZŠZàÙZ (1) (B) Personal Income ã æw (C) National Income ã æwò (D) Disposable personal income ã æw s.þ X :6, V ìcƒ³ryizáåãæwò (2) (A) Consumption = Saving Y = s Ü (B) Saving = Investment ~ g»tâu x »!Šn ZgÓZ Xì@* Y¹Ã+ŠAÆâZá$+ ÆâZ (3) (B) Monetary System x Â~gi X ì@* ÔVƒ', Z', VâqâÇgzZqâ~CÙ ªÅTgi ( Z (4) (A) Token money g iä (B) Standard money g i~g X j Æä ~gy^â (5) š Cg X ì@* ÎîEH 0" {g!* ÃV-z (6) L ãæ X ìlôzß!* (7) (B) Wealth Tax Lª (C) Sales Tax L (û)~ X Käz Ѓ wßzæä Z+ L (8) (C) Robbins çe E.*Zg X H t û~F, ',ö Ð (9) ½3 XgWXZ ] â}. X Cƒï á ~5ZŠZyi  (10) (B) Goods â Z (C) Material wealth ª ~Šâ X g x»þâ Zu6~yÎ (11) (A) Five õ 0* (B) Two z Š (C) Three & (D) Four ge X ìãæw¾ ~yî (12) X ìzz~(, Å ~ãæw¾ ~yî (13) (A) Increase in Population ŸZ~~Š!* W (B) Less literate persons ÅŠZÛ ZCc* ½ (C) Geographical conditions ] Ñqð5Z' X ì q-z¹f, Ù (14) X å6zg»"µ! õ0*,^æw yî (15) (2) The equilibrium level of National Income is determined where:- (3) Exchange of goods, is called:- (A) Barter System ', (4) A money whose Face Value and Real Value are equal, is called:- B (5) The methods of issuing note are:- (A) 2 (B) 4 (C) 3 (D) 5 (6) Bills of exchange are rediscounted by:- (A) Commercial Bank ˆ (7) is indirect tax. (A) Income Tax W (8) introduced the principles of Taxation firstly. ä (9) Absolute Advantage Theory was presented by:- 7 (10) Balance of payments include:- (A) Services Z (11) Stock Exchanges working in Pakistan are:- 0* (12) Per-capita income in Pakistan is:- 0* (13) The main cause of low per-capita income in Pakistan is:- 0* (14) Economic development is a process of:- ç (15) Duration of 8th Five year Plan of Pakistan was:- 0* (16) Major sector of Pakistan's economy is:- X ì%z(, Ѓ»uÅyÎ 0* (16) X ëã{z', uæyî0* swš (17) (A) Governor 3,Í g (B) President g œ (C) Prime Minister W ZæGL % iz XìC ay z{šc* i»plzyî0* Ó (18) (C) Foreign debt 2ŒÛ ãzû (D) Social welfare Š zb#cñç X ìæw', +F, ëzåyî (19) (C) Wheat x n (D) Medicines ]c* Z XìbÑÅ> i (20) (17) The head of State Bank of Pakistan is called:- à (18) Government of Pakistan spends major portion of its budget on:- #Ö (19) Most important Export of Pakistan is:- 0* (20) Ratio of Zakat is:- (A) 2.5 % (B) 3 % (C) 3.5 % (D) 1.5 % 2 36(Obj)(/)-2015(A) (MULTAN)

2 Number: 8113 MAXIMUM MARKS: = À (1) Major sector of Pakistan's economy is:- X ì%z(, Ѓ»uÅyÎ 0* (1) (2) The head of State Bank of Pakistan is called:- X ëã{z', uæyî0* swšã (2) (A) Governor 3, gí (B) President g œ (C) Prime Minister W ZæGL % iz (3) Government of Pakistan spends major portion of its budget on:- X ìc ay z{šc* i»plzyî0* #Ö Ó (3) (C) Foreign debt 2 ŒÛ ãzû (D) Social welfare Š zb#cñç (4) Most important Export of Pakistan is:- X ìæw', +F, ëzåyî0* (4) (C) Wheat x n (D) Medicines ]c* Z (5) Ratio of Zakat is:- (A) 2.5 % (B) 3 % (C) 3.5 % (D) 1.5 % X ìbñå>2i (5) (6) Transfer payments include in:- (A) G.D.P g ZzZa±x { X Cƒï á VœZŠZàÙZ (6) (B) Personal Income ã æw (C) National Income ã æwò (D) Disposable personal income ã æw s.þ (7) The equilibrium level of National Income is determined where:- X :6, V ìcƒ³ryizáåãæwò (7) (A) Consumption = Saving Y = s Ü (B) Saving = Investment ~ g»tâu x »!Šn ZgÓZ Xì@* Y¹Ã+ŠAÆâZá$+ ÆâZ (8) (B) Monetary System x Â~gi X ì@* ÔVƒ', Z', VâqâÇgzZqâ~CÙ ªÅTgi ( Z (9) (A) Token money g iä (B) Standard money g i~g X j Æä ~gy^â (10) š Cg X ì@* ÎîEH 0" {g!* ÃV-z (11) L ãæ X ìlôzß!* (12) (B) Wealth Tax Lª (C) Sales Tax L (û)~ X Käz Ѓ wßzæä Z+ L (13) (C) Robbins çee.*zg X H t û~F, ',ö Ð (14) ½3 XgWXZ ] â}. X Cƒï á ~5ZŠZyi  (15) (B) Goods â Z (C) Material wealth ª ~Šâ X g x»þâ Zu6~yÎ (16) (A) Five õ 0* (B) Two z Š (C) Three & (D) Four ge X ìãæw¾ ~yî (17) X ìzz~(, Å ~ãæw¾ ~yî (18) (A) Increase in Population ŸZ~~Š!* W (B) Less literate persons ÅŠZÛ ZCc* ½ (C) Geographical conditions ] Ñqð5Z' X ì q-z¹f, Ù (19) X å6zg»"µ! õ0*,^æw yî (20) (8) Exchange of goods, is called:- (A) Barter System ', (9) A money whose Face Value and Real Value are equal, is called:- B (10) The methods of issuing note are:- (A) 2 (B) 4 (C) 3 (D) 5 (11) Bills of exchange are rediscounted by:- (A) Commercial Bank ˆ (12) is indirect tax. (A) Income Tax W (13) introduced the principles of Taxation firstly. ä (14) Absolute Advantage Theory was presented by:- 7 (15) Balance of payments include:- (A) Services Z (16) Stock Exchanges working in Pakistan are:- 0* (17) Per-capita income in Pakistan is:- 0* (18) The main cause of low per-capita income in Pakistan is:- 0* (19) Economic development is a process of:- ç (20) Duration of 8th Five year Plan of Pakistan was:- 0* 36(Obj)( //)-2015(A) (MULTAN)

3 Number: 8115 MAXIMUM MARKS: = À (1) Stock Exchanges working in Pakistan are:- X g x»þâ Zu6~yÎ0* (1) (A) Five õ 0* (B) Two z Š (C) Three & (D) Four ge (2) Per-capita income in Pakistan is:- X ìãæw¾ ~yî0* (2) (3) The main cause of low per-capita income in Pakistan is:- X ìzz~(, Å ~ãæw¾ ~yî 0* (3) (A) Increase in Population ŸZ~~Š!* W (B) Less literate persons ÅŠZÛ ZCc* ½ ] Ñqð5Z' (6) Major sector of Pakistan's economy is:- X ì%z(, Ѓ»uÅyÎ 0* (6) (7) The head of State Bank of Pakistan is called:- X ëã{z', uæyî0* swšã (7) (A) Governor 3,Í g (B) President g œ (C) Prime Minister W ZæGL % iz (8) Government of Pakistan spends major portion of its budget on:- XìC ay z{šc* i»plzyî0* #Ö Ó (8) (C) Foreign debt 2ŒÛ ãzû (D) Social welfare Š zb#cñç (9) Most important Export of Pakistan is:- X ìæw', +F, ëzåyî0* (9) (C) Wheat x n (D) Medicines ]c* Z (10) Ratio of Zakat is:- (A) 2.5 % (B) 3 % (C) 3.5 % (D) 1.5 % XìbÑÅ> 2i (10) (11) Transfer payments include in:- (A) G.D.P g ZzZa±x { X Cƒï á VœZŠZàÙZ (11) (B) Personal Income ã æw (C) National Income ã æwò (D) Disposable personal income ãæw s.þ (12) The equilibrium level of National Income is determined where:- X :6, V ìcƒ³ryizáåãæwò (12) (C) Geographical conditions (4) Economic development is a process of:- X ì q-z¹f, Ùç (4) (5) Duration of 8th Five year Plan of Pakistan was:- X å6zg»"µ! õ0*,^æw yî0* (5) (A) Consumption = Saving Y = s Ü (B) Saving = Investment ~ g»tâu x »!Šn ZgÓZ ì@* Y¹Ã+ŠAÆâZá$+ ÆâZ (B) Monetary System x Â~gi X ì@* Vƒ', Z', VâqâÇgzZqâ~CÙ ªÅTgi( Z (A) Token money g iä (B) Standard money g i~g j Æä ~gy^â š Cg ì@* ÎîEH 0" {g!* ÃV-z GH L ãæ ìlôzß!* (B) Wealth Tax ø ½545 G z Å Š (C) Sales Tax L (û)~ X Käz Ѓ wßzæä Z+ L (C) Robbins çee.*zg H7 tã»~f, ',ö Ð O ½3 X XgWXZ â}. X Cƒï á ~5ZŠZyiZ (B) Goods â Z (C) Material wealth ª ~Šâ (13) Exchange of goods, is called:- (A) Barter System ', (14) A money whose Face Value and Real Value are equal, is called:- B X (13) Ô (14) (15) The methods of issuing note are:- (A) 2 (B) 4 (C) 3 (D) 5 X (15) (16) Bills of exchange are rediscounted by:- (A) Commercial Bank ˆ X (16) (17) is indirect tax. (A) Income Tax W (18) introduced the principles of Taxation firstly. ä X (17) (18) (19) Absolute Advantage Theory was presented by:- X (19) (20) Balance of payments include:- (A) Services ]  (20) 36(Obj)( ///)-2015(A) (MULTAN)

4 Number: 8117 MAXIMUM MARKS: = À (1) Bills of exchange are rediscounted by:- (A) Commercial Bank š Cgˆ X ì@* ÎîEH 0" {g!* ÃV-z (1) (2) is indirect tax. (A) Income Tax L ãæw X ìlôzß!* (2) (B) Wealth Tax Lª (C) Sales Tax L (û)~ X Käz Ѓ wßzæä Z+ L (3) (C) Robbins çe E.*Zg X H t û~F, ',ö Ð (4) ½3 XgWXZ ] â}. X Cƒï á ~5ZŠZyi  (5) (B) Goods â Z (C) Material wealth ª ~Šâ X g x»þâ Zu6~yÎ (6) (A) Five õ 0* (B) Two z Š (C) Three & (D) Four ge X ìãæw¾ ~yî (7) X ìzz~(, Å ~ãæw¾ ~yî (8) (A) Increase in Population ŸZ~~Š!* W (B) Less literate persons ÅŠZÛ ZCc* ½ (C) Geographical conditions ] Ñqð5Z' X ì q-z¹f, Ù (9) X å6zg»"µ! õ0*,^æw yî (10) (3) introduced the principles of Taxation firstly. ä (4) Absolute Advantage Theory was presented by:- 7 (5) Balance of payments include:- (A) Services Z (6) Stock Exchanges working in Pakistan are:- 0* (7) Per-capita income in Pakistan is:- 0* (8) The main cause of low per-capita income in Pakistan is:- 0* (9) Economic development is a process of:- ç (10) Duration of 8th Five year Plan of Pakistan was:- 0* (11) Major sector of Pakistan's economy is:- X ì%z(, Ѓ»uÅyÎ 0* (11) (12) The head of State Bank of Pakistan is called:- X ëã{z', uæyî0* swšã (12) (A) Governor 3,Í g (B) President g œ (C) Prime Minister W ZæGL % iz (13) Government of Pakistan spends major portion of its budget on:- XìC ay z{šc* i»plzyî0* #Ö Ó (13) (C) Foreign debt 2ŒÛ ãzû (D) Social welfare Š zb#cñç (14) Most important Export of Pakistan is:- X ìæw', +F, ëzåyî0* (14) (C) Wheat x n (D) Medicines ]c* Z (15) Ratio of Zakat is:- (A) 2.5 % (B) 3 % (C) 3.5 % (D) 1.5 % XìbÑÅ> 2i (15) (16) Transfer payments include in:- (A) G.D.P g ZzZa±x { X Cƒï á VœZŠZàÙZ (16) (B) Personal Income ã æw (C) National Income ã æwò (D) Disposable personal income ãæw s.þ (17) The equilibrium level of National Income is determined where:- X :6, V ìcƒ³ryizáåãæwò (17) (A) Consumption = Saving Y= s Ü (B) Saving = Investment ~ g»tâu (18) Exchange of goods, is called:- (A) Barter System x »!Šn ZgÓZ ', X ì@* Y¹Ã+ŠAÆâZá$+ ÆâZ (18) x Â~gi X ì@* Vƒ', Z', VâqâÇgzZqâ~CÙ ªÅTgi( Z g iä (B) Standard money g i~g j Æä ~gy^â (B) Monetary System (19) A money whose Face Value and Real Value are equal, is called:- B Ô (19) (A) Token money (20) The methods of issuing note are:- (A) 2 (B) 4 (C) 3 (D) 5 X (20) 36(Obj)( ////)-2015(A) (MULTAN)

5 TIME ALLOWED: 2.30 Hours SUBJECTIVE K zz ] 2.30 = Ü z MAXIMUM MARKS: 80 NOTE: - Write same question number 80 = À X ì`gš~d6, DZÎāÙ`gŠzb gzzwzî z6, 8»!Z X^â and its part number in answer book, as given in the question paper. SECTION-I w zzz 2. Attempt any eight parts. 16 = 2 x 8 Ùk, ]!* ZÆZb ZJWÐð à (i) What is meant by transfer payment? X X2wZÎ? ìš%z HÐ5ZŠZàÙZ (i) (ii) What is meant by Saving function?? ìš%z HÐY (ii) (iii) What is meant by circular flow of National Income?? ìš%z HÐî ~z], ZŠÆãæWò (iii) (iv) What is meant by Personal income?? ìš%z HÐãæW (iv) (v) What is meant by convertible paper money?? ìš%z HÐgi~½»k, 5+w $+ (v) (vi) What is meant by Metallic Money?? ìš%z HÐgiCJŠ (vi) (vii) Write four difficulties of barter system. X, k, ])geåär, g!* (vii) (viii) What is meant by supply of Money? (ix) What is meant by open market operation? (x) What is meant by Bank Rate? (xi) Define Commercial Bank. (xii) Write four means of transportation.? ìš%z HÐ gåg i (viii)? ìš%z HÐ ÆgZi!* A (ix)? ìš%z HÐf$g š (x) X, p ÅšCg ˆ X /Ÿ À É õgüzüùzgfg 3. Attempt any eight parts. 16 = 2 x 8 Ùk, ]!* ZÆZb ZJWÐð à (i) What is meant by Private Finance? (ii) State the Canons of Tax given by Adam Smith. (iii) What is meant by Tax? (iv) What is meant by Progressive Tax? (v) Define International Trade. e (xi) (xii) X X3wZÎ? ìš%z HÐ]1â (i) CwßZÆä Z+ L{Š yòæô G -. \ xšw X (ii)? ìš%z HÐL (iii) X Kp ÅLZ+ âz (iv)? ìš%z HÐ]gˆòZ Ñ ZÎ (v) (vi) What is the basic objective of protectionism? ì@* ƒhñ~šãc»œ0* Å} (vii) Define Free Trade. (viii) What is meant by rate of (vi) X NCx»]gˆŠZi W (vii)? ìš%z HÐ!ŠIbÑ (viii) (ix) Write four points of importance of Agricultural sector XÙk, ]ïgeæìzå% gi~uåy Î0* (ix) in Pakistan's economy. (x) Write four problems of Education Sector. X Cb)geÆ ½% (x) (xi) Why is Pakistan called a developing country?? ì@* Y¹VYok, 5+¹F, ÃyÎ0* (xi) (xii) Give four proposals to increase the living standard. X,Šm, zˆgeåäj(, ÃÏ0+ i ( dez tgz ) (xii)

6 ( 2 ) Q.No.4 Attempt any nine parts. 18 = 2 x 9 Ùk, ]!* ZÆZb ZâÐð à X X4wZÎ X /Ÿ À É õgp ŹF, ÙçÅyz!* gzz â (i) (i) Write definition of Economic development by Meir and Baldwin. ], (ii) Write four characteristics of developing economy. X, k, ]:SgeÅuk, 5+ ¹ F, (ii) (iii) Write four problems of Agricutural sector of Pakistan. (iv) What is the difference between Zakat and Tax? (v) What is meant by weak bargaining power of labourers? (vi) Write four reasons of inflation. (vii) What is meant by bank rate policy? (viii) What is meant by devaluation of money? XKb)geÆ ) Zgi%Æy Î0* (iii)? ìtû H~L gzz >2i (iv)? ìš%z HÐ~g»ZŠÎ] gz$åvzg ' (v) XK[òZgeÆgi¹Z Û Z (vi)? ìš%z HÐŒ0* ÅšbÑ (vii) 3 B E ý + G? ìš%z HÐgigŠ LG (viii) (ix) What is meant by Government budget? ìš%z HÐP~g» (x) What is meant by Cotton Export Corporation?? u (ix)? ìš%z HÐcg7g»~æW', Åk¾ (x) (xi) Write names of four member countries of SAARC. X Ùk, x* geæ MÆug (xi) (xii) Write four characteristics of Socialism. X Ùk, ]:SgeÅKZ Z (xii) (xiii) What is Partnership?? ìš%z HÐ ÑZ (xiii) SECTION-II x z NOTE: - Attempt any three questions. 30 = 10 x 3 XÙk, ]!* ZÆ]ÑZÎ&Ððà X^â 5. Explain different concepts of National Income. XÙs# ŸzÅ]Zg ZÆãæWò X5 6. Explain sources of revenue of Central Government. Ùs# ŸzÅùZgfÆãæWÅ#Ö Ó~ œ/ X % X6 7- Explain the merits and demerits of International Trade. XÙyÒ]* vgzzz+z Æ]gˆòZ ÑZ Î X7 8. Describe Economic factors of Economic Development. XÙyÒïZúÙçƹF, Ùç X8 9. Write note on the following:- X K^â6, sf`gš X9 Economic and Social Justice s»zygzzù ç (ii) Goodness y ˆZ (i) (A) (MULTAN)