Commerce (English Medium)
Science (English Medium)
Arts (English Medium)
Academic Year: 2013-2014
Date: मार्च 2014
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What is meant by collusive oligopoly?
Chapter: [0.04] Forms of Market and Price Determination
Define production function.
Chapter: [0.03] Producer Behaviour and Supply
What is supply?
Chapter: [0.03] Producer Behaviour and Supply
A large number of technical training institutions have been started by the government. State its economic value in the context of production possibilities frontier.
Chapter: [0.01] Introduction
When is demand called perfectly inelastic?
Chapter: [0.02] Consumer Equilibrium and Demand
How does change in per unit tax influence the supply of a good by a firm? Explain.
Chapter: [0.03] Producer Behaviour and Supply
How does subsidy influence the supply of a good by a firm? Explain.
Chapter: [0.03] Producer Behaviour and Supply
Why is a production possibilities curve downward sloping? Explain
Chapter: [0.03] Producer Behaviour and Supply
Price elasticity of demand of a good is (-) 1. Calculate the percentage change in price that will raise the demand from 20 units to 30 units.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the implications of the following in a perfectly competitive market:
Large number of buyers
Chapter: [0.04] Forms of Market and Price Determination
Under what market condition does Average Revenue always equal Marginal Revenue? Explain.
Chapter: [0.04] Forms of Market and Price Determination
State the different phases of change in the total product according to the Law of Variable Proportions. Use diagram
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
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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 X and Y and is in equilibrium. Show that when the price of good X falls, demand for good X rises. Use Utility Analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Distinguish between demand by an individual consumer and market demand of a good
Chapter: [0.02] Consumer Equilibrium and Demand
State the factors leading to fall in demand by an individual consumer
Chapter: [0.02] Consumer Equilibrium and Demand
What is meant by 'excess supply' of a good in a market?
Chapter: [0.04] Forms of Market and Price Determination
Explain its chain of effects on the market of that good. 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 firm's 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 | 8 | 10 |
| 2 | 16 | 18 |
| 3 | 24 | 23 |
| 4 | 32 | 31 |
| 5 | 40 | 41 |
Chapter: [0.03] Producer Behaviour and Supply
Define aggregate supply?
Chapter: [0.04] Determination of Income and Employment
What is 'devaluation'?
Chapter: [0.06] Open Economy Macroeconomics
What is a central bank?
Chapter: [0.03] Money and Banking
What is 'excess demand' in macroeconomics?
Chapter: [0.01] Introduction
What is primary deficit?
Chapter: [0.05] Government Budget and the Economy
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Explain the 'standard of deferred payment' function of money. How has it solved the related problem created by barter?
Chapter: [0.03] Money and Banking
Explain the ‘store of value’ function of money. How has solved the related problem created by barter?
Chapter: [0.03] Money and Banking
How is balance of payment 'deficit' measured? Explain.
Chapter: [0.06] Open Economy Macroeconomics
What is 'appreciation' of domestic currency? What is its likely effect on exports and how?
Chapter: [0.06] Open Economy Macroeconomics
What are non-monetary exchanges? Give an example. Explain their impact on the use of a gross domestic product as an index of the welfare of the people.
Chapter: [0.06] Open Economy Macroeconomics
Giving reason, state whether the following is a revenue expenditure or a capital expenditure in a government budget:
Expenditure on scholarships
Chapter: [0.05] Government Budget and the Economy
Giving reason, state whether the following is a revenue expenditure or a capital expenditure in a government budget:
Expenditure of building a bridge.
Chapter: [0.05] Government Budget and the Economy
The government has started spending more on providing free services like education and health to the poor. Explain the economic value it reflects.
Chapter: [0.05] Government Budget and the Economy
State the meaning and components of the money supply.
Chapter: [0.03] Money and Banking
Explain the 'currency authority' function of a central bank.
Chapter: [0.03] Money and Banking
Calculate 'Marginal Propensity to Consume' from the following data about an economy which is in equilibrium:
National income = 800
Autonomous consumption expenditure = 100
Investment expenditure = 100
Chapter: [0.02] National Income and Related Aggregates
Explain national income determination through the two alternative approaches. Use Diagram.
Chapter: [0.02] National Income and Related Aggregates
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 'National Income' and 'Gross National Disposable Income' from the following:
| (Rs in Arab) | ||
| 1 | Net imports | 60 |
| 2 | Net current transfers to abroad | (-)10 |
| 3 | Net domestic fixed capital formation | 300 |
| 4 | Government final consumption expenditure | 200 |
| 5 | Private final consumption expenditure | 700 |
| 6 | Consumption of fixed capital | 70 |
| 7 | Net change in stocks | 30 |
| 8 | Net factor income to abroad | 20 |
| 9 | Net indirect tax | 100 |
Chapter: [0.02] National Income and Related Aggregates
How should the following be treated while estimating national income? You must give the reason in support of your answer.
Bonus paid to employees
Chapter: [0.02] National Income and Related Aggregates
How should the following be treated while estimating national income? You must give the reason in support of your answer.
Addition to stocks during a year
Chapter: [0.02] National Income and Related Aggregates
How should the following be treated while estimating national income? You must give the reason in support of your answer.
Purchase of taxi by a taxi driver.
Chapter: [0.02] National Income and Related Aggregates
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