Please select a subject first
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Choose the correct alternative from given options:
In the given figure, the movement on the production possibility curve from point A to point B shows _____________.
Concept: Concepts of Production Possibility Frontier
Identify and discuss the nature of the following newspaper reports in terms of positive or normative economic analysis:
(i) "India jumped 23 points in the World Bank's ease of doing business index to 77th place, highest in 2 years." – The Economic Times
(ii) "Government should further liberalise the business rules." – The Economic Times
Concept: Positive and Normative Economics
An economy is in equilibrium. Find investment expenditure :
National income =1200
Autonomous consumption expenditure=150
Marginal Propensity to consume =0.8
Concept: Methods of Measurement of National Income >> Expenditure Method
Answer the following question.
Gross Domestic Product (GDP) Does Not Give Us a Clear Indication of Economic Welfare of a Country. "Defend Or Refute the Given Statement with Valid Reason.
Concept: GDP and Welfare
Distinguish between positive externalities and negative externalities.
Concept: Factor Cost, Basic Prices and Market Prices
Discuss any two merits and demerits of the Green Revolution in the agricultural sector in the Indian economy.
Concept: Agriculture
State the meanings of the following:
Operating Surplus
Concept: Factor Cost, Basic Prices and Market Prices
Give two examples of fixed costs.
Concept: Cost - Fixed Cost
What happens to the difference between Average Total Cost and Average Variable Cost as production is increased?
Concept: Relationship Between Average Variable Cost and Average Total Cost and Marginal Cost
Give two examples of variable costs.
Concept: Cost -variable Cost
Choose the correct alternative from given options:
The average product curve in the input-output plane, will be ____________.
Concept: Shapes of Product Curves
Market for a good is in equilibrium. There is simultaneous "decrease" both in demand and supply of the good. Explain its effect on market price
Concept: Market Equilibrium
Explain the chain of effects of excess supply of a good on its equilibrium price
Concept: Equilibrium Price
A market for a good is in equilibrium. The supply of good "decreases". Explain the chain of effects of this change
Concept: Market Equilibrium
What is meant by price ceiling? Explain its implications.
Concept: Price Ceiling
Suppose the demand and supply equations of a commodity X in a perfectly competitive market are given by :
Qd = 1700 – 2P
Qs = 1300 + 3P
Calculate the value of equilibrium price and equilibrium quantity of the commodity X.
Concept: Equilibrium Price
Answer the following question.
"Indian Rupee (₹) plunged to an all-time low of ₹ 74.48 against the US Dollar ($)".
− The Economic Times
In light of the above report, discuss the impact of the situation on Indian Imports.
Concept: Determination of Equilibrium Income in the Short Run >> Effect of an Autonomous Change in Aggregate Demand on Income and Output
On the basis of following schedule, answer the given questions:
| Income (in ₹ crores) |
Savings (in ₹ crores) |
| 0 | -20 |
| 50 | -10 |
| 100 | 0 |
| 150 | 30 |
| 200 | 60 |
- Calculate Marginal Propensity to Save (MPS) at ₹ 150 crores level of income.
- What is the value of Autonomous Consumption?
Concept: Aggregate Demand and Its Components >> Consumption
"In an economy, the autonomous consumption is ₹ 100 and Marginal Propensity to Consume (MPC) is 0.6. If the equilibrium level of Income is 2,000, then the autonomous investment is ₹ 300." Justify the statement with valid calculation.
Concept: Aggregate Demand and Its Components >> Consumption
