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A market for a good is in equilibrium. There is simultaneous "increase" both in demand and supply of the good. Explain its effect on the market price
Concept: Market Equilibrium
If the prevailing market price is above the equilibrium price, explain its chain of effects.
Concept: Equilibrium Price
"In an economy ex-ante Aggregate Demand is more than ex-ante Aggregate Supply."
Explain its impact on the level of output, income and employment.
Concept: Determination of Equilibrium Income in the Short Run >> Effect of an Autonomous Change in Aggregate Demand on Income and Output
Explain the role of government budget in bringing stability in the economy.
Concept: Objectives of Government Budget
Explain the economic stability as objectives of government budget.
Concept: Objectives of Government Budget
Define liberty indicator.
Concept: Indicators of Human Development
‘GLF’ with respect to the People’s Republic of China referred to as ______.
Concept: Developmental Path - a Snapshot View
Assuming that no resource is equally efficient in production of all goods, name the curve which shows production potential of the economy. Explain, giving reasons, its properties.
Concept: Concepts of Production Possibility Frontier
Production in an economy is below its potential due to unemployment. Government starts employment generation schemes. Explain its effect using production possibilities curve.
Concept: Concepts of Production Possibility Frontier
State one example of positive economics.
Concept: Positive and Normative Economics
Give the meaning and characteristics of production possibility frontier.
Concept: Concepts of Production Possibility Frontier
A large number of technical training institutions have been started by the government. State its economic value in the context of production possibilities frontier.
Concept: Concepts of Production Possibility Frontier
Give one example of negative externalities.
Concept: A Simple Economy
Read the following text carefully and answer question given below:
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The centre's PM Gati Shakti Scheme will give much needed push to infrastructure development and logistic across India. This scheme will drive the economic growth by giving boost to industries such as steel and cement. Greater connectivity is expected to improve economic opportunities for small farmers and small and medium enterprises through new roads, cargo terminals etc. The Gati Shakti Scheme features at the centre stage of Budget 2022-23, highlighting the importance of quality multi-modal transport in achieving overall cost competitiveness. Under Gati Shakti Scheme, the railways will develop new products and services targeted at small farmers and businesses to help them become a part of layer supply chain. (Source: The Economic Times, Feb., 2, 2022 (Modified) |
- State the meaning of infrastructure.
- Explain any two objectives of PM Gati Shakti Scheme.
Concept: Infrastructure
From the set of the events given in Column-I and the corresponding year in Column-II, choose the incorrect pair:
| Column-I | Column-II | ||
| A. | Introduction of railways in India | (i) | 1850 |
| B. | Incorporation of TISCO | (ii) | 1807 |
| C. | First official census of India | (iii) | 1881 |
| D. | Opening of suez canal | (iv) | 1869 |
Concept: Industrial Sector
During the British rule in India, Indian agricultural output witnessed stagnation due to ______.
Concept: Agricultural Sector in India
State and explain any two main causes behind infrastructural development by British rule.
Concept: Infrastructure
Government insure expenditure to popularize yoga among the masses. Analyses its impact on gross domestic product and welfare of the people.
Concept: Methods of Measurement of National Income >> Expenditure Method
Government spends on child immunization programme. Analyse its impact on Gross Domestic Product and welfare of the people.
Concept: GDP and Welfare
Given normal income, how can we find real income? Explain.
Concept: Methods of Measurement of National Income >> Income Method
