Question : Which of the following statements is correct regarding the demand curve?
I. It is a graphical representation of the demand function.
II. It gives the quantity demanded by the consumer at each price.

Option 1: Both I and II

Option 2: Only II

Option 3: Neither I nor II

Option 4: Only I

Question : The production function can be expressed as (where L is labour, C is capital, and Q is the maximum output that can be produced).

Option 1: Q = f(C)

Option 2: L = f(Q, C)

Option 3: Q = f(L)

Option 4: Q = f(L, C)

Question : It is possible to derive the value of the Gross Domestic Product (GDP) of a country. Which function of money is applicable here?

Option 1: Store of value

Option 2: Unit of account

Option 3: Standard of deferred payments

Option 4: Medium of exchange

Question : Comprehension:
In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.
Our school organised a graduation day to award certificates to the students. The graduation day highlights the overall achievements of students. All the students who are being graduated are invited formally with their parents. Students wore their attire according to the dress code given to them by the school administration. High school graduation ____________(1) is one of the most awaited and last events of any school. The function began with ____________(2) the lamp, followed by the distribution of certificates in a very systematic way. Our principal made a long and___________(3) speech and blessed us for the future_____________(4). On behalf of our graduating class, our class representative extended a vote of thanks to show ___________(5) to all staff members. One of the parents expressed their experiences and views. At last, all the students, parents, and staff members had lunch together.

Select the most appropriate option to fill in the blank number 1.

Option 1: episode

Option 2: festival

Option 3: incident

Option 4: ceremony

Question : Comprehension:
In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.
Our school organised a graduation day to award certificates to the students. The graduation day highlights the overall achievements of students. All the students who are being graduated are invited formally with their parents. Students wore their attire according to the dress code given to them by the school administration. High school graduation__________(1) is one of the most awaited and last events of any school. The function began with _________(2) the lamp, followed by the distribution of certificates in a very systematic way. Our principal made a long and_________(3) speech and blessed us for the future___________(4). On behalf of our graduating class, our class representative extended a vote of thanks to show ___________(5) to all staff members. One of the parents expressed their experiences and views. At last, all the students, parents, and staff members had lunch together.

Select the most appropriate option to fill in the blank number 3.

Option 1: self-praising

Option 2: encouraging

Option 3: boring

Option 4: depressing