Date: March 2014
What is perfect oligopoly?
Chapter: [0.04] Forms of Market and Price Determination
Give the meaning of returns to a factor.
Chapter: [0.03] Producer Behaviour and Supply
Explain the meaning of Budget line.
Chapter: [0.02] Consumer Equilibrium and Demand
Unemployment is reduced due to the measures were taken by the government. State its economic value in the context of production possibilities frontier.
Chapter: [0.04] Determination of Income and Employment [0.07] Employment: Growth, Informalisation and Other Issues
What is meant by cost in economics?
Chapter: [0.03] Producer Behaviour and Supply
State the relation between marginal revenue and average revenue.
Chapter: [0.03] Producer Behaviour and Supply
State the relation between total cost and marginal cost.
Chapter: [0.03] Producer Behaviour and Supply
Answer the following question.
Explain the central problem for whom to produce.
Chapter: [0.01] Introduction
Price elasticity of demand of a good is (-)1. When its price per unit falls by one rupee, its de from 16 to 18 units. Calculate the price before a change
Chapter: [0.02] Consumer Equilibrium and Demand
Answer the following question.
Why are the firms said to be interdependent in an oligopoly market? Explain.
Chapter: [0.04] Forms of Market and Price Determination
What is the behaviour of average fixed cost as output is increased? Why is it so?
Chapter: [0.03] Producer Behaviour and Supply
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
Chapter: [0.03] Producer Behaviour and Supply
A consumer consumes only two goods. Explain consumer's equilibrium with the help of utility analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
A consumer consumes only two goods A and B and is in equilibrium. Show that when price of good B falls, demand for B rises. Answer this question with the help of utility analysis
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the change in demand of a good on account of change in prices of related goods.
Chapter: [0.02] Consumer Equilibrium and Demand
A market for a product is in equilibrium. Demand for the product "decreases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram
Chapter: [0.04] Forms of Market and Price Determination
Explain the conditions of consumer’s equilibrium using indifference curve analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the three properties of the indifference curves.
Chapter: [0.02] Consumer Equilibrium and Demand
From the following information about a firm, find the firms equilibrium output in terms of marginal cost and marginal revenue. Give reasons. Also find profit at this output
| Output (units) | Total Revenue (Rs) | Total Cost (Rs) |
| 1 | 7 | 8 |
| 2 | 14 | 15 |
| 3 | 21 | 21 |
| 4 | 28 | 28 |
| 5 | 35 | 36 |
Chapter: [0.03] Producer Behaviour and Supply
Define marginal propensity to consume
Chapter: [0.04] Determination of Income and Employment
What is 'current account deficit' in the balance of payments?
Chapter: [0.06] Balance of Payments
What are demand deposits?
Chapter: [0.03] Money and Banking
Give the meaning of full employment.
Chapter: [0.04] Determination of Income and Employment
What is government budget?
Chapter: [0.05] Government Budget and the Economy
Explain the ‘store of value’ function of money. How has solved the related problem created by barter?
Chapter: [0.03] Money and Banking
Explain the significance of 'medium of exchange' function of money
Chapter: [0.03] Money and Banking
Explain the meaning of balance of payments deficit.
Chapter: [0.06] Balance of Payments
Visits of foreign countries for sightseeing etc. by the people of India is on the rise. What will be its likely impact on foreign exchange rate and how?
Chapter: [0.06] Balance of Payments
Define externalities. Give an example of negative externality. What is its impact on welfare?
Chapter: [0.02] National Income and Related Aggregates
Is the following revenue expenditure or capital expenditure in the context of government budget? Give reason.
Expenditure on a collection of taxes.
Chapter: [0.05] Government Budget and the Economy
Is the following revenue expenditure or capital expenditure in the context of government budget? Give reason.
Expenditure on purchasing computers
Chapter: [0.05] Government Budget and the Economy
Government raises its expenditure on producing public goods. Which economic value does it reflect? Explain.
Chapter: [0.05] Government Budget and the Economy
Define money supply
Chapter: [0.04] Determination of Income and Employment
Explain money supply components.
Chapter: [0.04] Determination of Income and Employment
Answer the following question.
Explain the 'lender of last resort' function of central bank.
Chapter: [0.03] Money and Banking
Calculate autonomous consumption expenditure from the following data about an
economy which is in equilibrium.
National income = 1200
Marginal propensity to save = 0.20
Investment expenditure = 100
Chapter: [0.02] National Income and Related Aggregates
Explain national income equilibrium through aggregate demand and aggregate supply. Use diagram. Also explain the changes that take place in an economy when the economy is not in equilibrium
Chapter: [0.04] Determination of Income and Employment
Given consumption curve, derive saving curve and state the steps taken in the process of derivation. Use Diagram.
Chapter: [0.04] Determination of Income and Employment
Calculate ‘net national product’ at factor cost and 'private income' from the following:
| (Rs Arab) | ||
| 1 | National debt interest | 60 |
| 2 | Wages and salaries | 600 |
| 3 | Net current transfers to abroad | 20 |
| 4 | Rent | 200 |
| 5 | Transfer payments by the government | 70 |
| 6 | Interest | 300 |
| 7 | A net domestic product at factor cost accruing to government | 140 |
| 8 | Social security contributions by employers | 100 |
| 9 | Net factor income paid to abroad | 50 |
| 10 | Profits | 300 |
Chapter: [0.02] National Income and Related Aggregates
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Fees to a mechanic paid by a firm.
Chapter: [0.02] National Income and Related Aggregates
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Interest paid by an individual on a car loan taken from a bank.
Chapter: [0.02] National Income and Related Aggregates
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Expenditure on purchasing a car for use by a firm.
Chapter: [0.02] National Income and Related Aggregates
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