ISC (Commerce)
ISC (Arts)
ISC (Science)
Academic Year: 2014-2015
Date: मार्च 2015
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- Answer Question 1 (Compulsory) from Part I and five questions from Part II.
Answer the following question.
Define marginal utility. When can it be negative?
Chapter: [0.011000000000000001] Demand
Answer the following question.
What is meant by production function?
Chapter: [0.015] Concept of Production and Production Function
Answer the following question.
Name the market where average revenue is equal to marginal revenue. Give a reason for your answer.
Chapter: [0.016] Cost and Revenue
Answer the following question.
Give one difference between accounting cost and opportunity cost.
Chapter: [0.016] Cost and Revenue
Answer the following question.
What is the reason for an indeterminate demand curve under Oligopoly?
Chapter: [0.017] Main Market Forms
Answer the following question.
What is meant by a propensity to consume?
Chapter: [0.02] Theory of Income and Employment
Answer the following question.
Explain discounting bills of exchange as one of the functions of the banks.
Chapter: [0.032] Banks
Answer the following question.
Differentiate between revaluation of currency and appreciation of the currency.
Chapter: [4.01] Balance of Payment
Answer the following question.
How can gross domestic product at factor cost be obtained from the gross national product at market price?
Chapter: [6.02] Concepts and Definition
Answer the following question.
What is meant by revenue deficit? Explain its implications.
Chapter: [0.052000000000000005] Government Budget
Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
Chapter: [0.011000000000000001] Demand [0.02] Theory of Income and Employment
Answer the following question.
Differentiate between the extension of demand and an increase in demand, using diagrams.
Chapter: [0.011000000000000001] Demand
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Answer the following question.
Explain with the help of a diagram the consumer’s equilibrium through utility approach.
Chapter: [0.011000000000000001] Demand
Answer the following question.
Discuss any two properties of the indifference curve.
Chapter: [0.011000000000000001] Demand
Answer the following question.
Draw diagrams to show the elasticity of demand when it is:
(i) Greater than one
(ii) Less than one
(iii) Unity
Chapter: [0.012] Elasticity of Demand
Answer the following question.
Explain the geometric method of calculating the elasticity of supply.
Chapter: [0.012] Elasticity of Demand
Answer the following question.
Show with the help of diagrams, the effect on equilibrium price and quantity when:
There is a fall in the price of substitute goods.
Chapter: [0.013999999999999999] Market Mechanism
Answer the following question.
Show with the help of diagrams, the effect on equilibrium price and quantity when:
There is a rise in the prices of inputs.
Chapter: [0.013999999999999999] Market Mechanism
Answer the following question.
The cost function of a firm is given below
| Output | 0 | 1 | 2 | 3 | 4 |
| Total cost | 100 | 250 | 370 | 550 | 740 |
Calculate:
(i) AFC
(ii) AVC
(iii) MC
Chapter: [0.016] Cost and Revenue
Answer the following question.
Explain the law of variable proportions with the help of a diagram.
Chapter: [0.015] Concept of Production and Production Function
Answer the following question.
Discuss two features of monopoly.
Chapter: [0.017] Main Market Forms
Show with the help of a diagram, how a perfectly competitive firm earns a normal profit in short-run equilibrium.
Chapter: [0.017] Main Market Forms
Answer the following question.
Explain how a producer can maximize profit by using MR and MC curves.
Chapter: [0.016] Cost and Revenue
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Answer the following question.
Find the value of additional investment made by the government, when MPC 05 and the increase in income (ΔY) = ₹ 1000.
Chapter: [0.02] Theory of Income and Employment
Answer the following question.
What is meant by autonomous consumption? Explain with the help of a diagram.
Chapter: [0.02] Theory of Income and Employment
Answer the following question.
Explain the concept of deficient demand with the help of aggregate demand and aggregate supply curves. Discuss one physical and one monetary measure to correct it.
Chapter: [0.02] Theory of Income and Employment
Answer the following question.
Discuss two qualitative methods of credit control.
Chapter: [0.032] Banks
Answer the following question.
Explain the secondary functions of money.
Chapter: [0.031] Money
Answer the following question.
Discuss the various components of the current account of the balance of payment.
Chapter: [4.01] Balance of Payment
Answer the following question.
Highlight two differences between sales tax and income tax.
Chapter: [0.051] Fiscal Policy
Answer the following question.
What is meant by
(i) Union budget
(ii) State budget
Chapter: [0.052000000000000005] Government Budget
Answer the following question.
Explain four ways of Redemption of Public Debt.
Chapter: [0.051] Fiscal Policy
Answer the following question.
With the help of a diagram, show the circular flow of income in a two-sector model with Savings and Investment.
Chapter: [6.01] Circular Flow of Income.
Answer the following question.
The growth of the Gross Domestic Product is not a real indicator of economic welfare. Discuss two reasons to justify the given statement.
Chapter: [6.02] Concepts and Definition
Answer the following question.
From the follow ing data, calculate GNPMP and NNPFC by Expenditure Method.
| (i) Mixed-income of self-employed | 450 crores |
| (ii) Compensation of employees | 550 crores |
| (iii) Private final consumption expenditure | 1000 crores |
| (iv) Net factor income from abroad | -20 crores |
| (v) Net indirect taxes | 150 crores |
| (vi) Consumption of fixed capital | 170 crores |
| (vii) Net domestic capital formation | 380 crores |
| (viii) Net exports | -30 crores |
| (ix) Profits | 400 crores |
| (x) Rent | 150 crores |
| (xi) Interest | 200 crores |
| (xii) Government final consumption expenditure | 550 crores |
Chapter: [6.03] Methods of Measuring National Income
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