Commerce (English Medium)
Arts (English Medium)
Academic Year: 2012-2013
Date: March 2013
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Give two examples of fixed costs.
Chapter: [0.03] Producer Behaviour and Supply
Give two examples of variable costs.
Chapter: [0.03] Producer Behaviour and Supply
Under which market form a firm's marginal revenue is always equal to price?
Chapter: [0.03] Producer Behaviour and Supply
Given the meaning of market demand.
Chapter: [0.02] Consumer Equilibrium and Demand
Define marginal cost.
Chapter: [0.03] Producer Behaviour and Supply
When is the demand for a good said to be inelastic?
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the law of diminishing marginal utility with the help of a total utility schedule.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the condition of consumer's equilibrium with the help of utility analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the difference between an inferior good and a normal good.
Chapter: [0.02] Consumer Equilibrium and Demand
The price elasticity of supply of a good is 0.8. Its price rises by 50 percent. Calculate the percentage increase in its supply.
Chapter: [0.03] Producer Behaviour and Supply
Complete the following table:
|
Units of Labour |
Average Product (Units) |
Marginal Product (Units) |
|
1 |
16 |
……. |
|
2 |
20 |
…….. |
|
3 |
……. |
20 |
|
4 |
18 |
…….. |
|
5 |
…… |
8 |
|
6 |
14 |
…….. |
Chapter: [0.03] Producer Behaviour and Supply
Explain the 'free entry and exit of firms' feature of monopolistic competition.
Chapter: [0.04] Forms of Market and Price Determination
Production in an economy is below its potential due to unemployment. Government starts employment generation schemes. Explain its effect using production possibilities curve.
Chapter: [0.01] Introduction
Give the meaning of producer’s equilibrium. A producer that quantity of his product at which marginal cost and marginal revenue are equal. Is he earning maximum profits? Give reason for your answer.
Chapter: [0.03] Producer Behaviour and Supply
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The price elasticity of demand for a good is - 0.4. If its price increases by 5 percent, by what percentage will its demand fall? Calculate.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain any two factors that affect the price elasticity of demand. Give suitable examples.
Chapter: [0.02] Consumer Equilibrium and Demand
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
Explain the conditions of consumer’s equilibrium using indifference curve analysis.
Chapter: [0.02] Consumer Equilibrium and Demand
Explain the relationship between
(i) Prices of other goods and demand for the given good.
(ii) Income of the buyers and demand for a good.
Chapter: [0.02] Consumer Equilibrium and Demand
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
Chapter: [0.04] Forms of Market and Price Determination
Giving reason, state whether the following statement is true or false.
When equilibrium price of a good is less than its market price, there will be competition among the sellers.
Chapter: [0.04] Forms of Market and Price Determination
Give two examples of indirect taxes.
Chapter: [0.05] Government Budget and the Economy
How can increase in foreign direct investment affect the price of foreign exchange?
Chapter: [0.06] Open Economy Macroeconomics
Define externalities. Give an example of negative externality. What is its impact on welfare?
Chapter: [0.02] National Income and Related Aggregates
What is government budget?
Chapter: [0.05] Government Budget and the Economy
What are demand deposits?
Chapter: [0.03] Money and Banking
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Distinguish between revenue expenditure and capital expenditure in Government budget. Give an example of each.
Chapter: [0.05] Government Budget and the Economy
Distinguish between revenue deficit and fiscal deficit.
Chapter: [0.05] Government Budget and the Economy
Explain the effect of appreciation of domestic currency on imports.
Chapter: [0.06] Open Economy Macroeconomics
Distinguish between balance of trade and balance on current account?
Chapter: [0.06] Open Economy Macroeconomics
Explain the problem of double coincidence of wants faced under barter system. How has money solved it?
Chapter: [0.03] Money and Banking
Explain any one objective of Government Budget.
Chapter: [0.05] Government Budget and the Economy
Calculate “sales” from the following data:
|
(Rs in lakhs) |
|||||
|
(i) |
Intermediate costs |
700 |
|||
|
(ii) |
Consumption of fixed capital |
80 |
|||
|
(iii) |
Change in stock |
(−) 50 |
|||
|
(iv) |
Subsidy |
60 |
|||
|
(v) |
Net value added at factor cost |
1300 |
|||
|
(vi) |
Exports |
50 |
Chapter: [0.02] National Income and Related Aggregates
Explain "Banker to the Government" function of the Central Bank.
Chapter: [0.03] Money and Banking
Giving reasons categories the following into stock and flow:-
(i) Capital
(ii) Saving
(iii) Gross domestic product
(iv) Wealth
Chapter: [0.02] National Income and Related Aggregates
Explain the circular flow of income.
Chapter: [0.02] National Income and Related Aggregates
Calculate National Income from the following data:
| S.No. | Particulars | Rs.in crores |
| (i) | Private final consumption expenditure | 900 |
| (ii) | Profit | 100 |
| (iii) | Government final consumption expenditure | 400 |
| (iv) | Net indirect taxes | 100 |
| (v) | Gross domestic capital formation | 250 |
| (vi) | Change in stock | 50 |
| (vii) | Net factor income from abroad | (-)40 |
| (viii) | Consumption of fixed capital | 20 |
| (ix) | Net imports | 30 |
Chapter: [0.02] National Income and Related Aggregates
Calculate net national disposable income from the following data:-
| S.No. | Particulars | Rs. in crores |
| (i) | Gross domestic product at market price | 2000 |
| (ii) | Net current transfers to rest of the world | (-)200 |
| (iii) | Net indirect taxes | 150 |
| (iv) | Net factor income to abroad | 60 |
| (v) | National debt interest | 70 |
| (vi) | Consumption of fixed capital | 200 |
| (vii) | Current transfers from Government | 150 |
Chapter: [0.02] National Income and Related Aggregates
C = 50 + 0.5 Y is the Consumption Function where C is consumption expenditure and Y is National Income and Investment expenditure is 2000 is an economy. Calculate
(i) Equilibrium level of National Income.
(ii) Consumption expenditure at equilibrium level of national income.
Chapter: [0.02] National Income and Related Aggregates
Complete the following table:
|
Consumption expenditure (Rs) |
Savings (Rs) |
Income (Rs) |
Marginal propensity to Consume |
|
100 |
50 |
150 |
|
|
175 |
75 |
……. |
…… |
|
250 |
100 |
……. |
…… |
|
325 |
125 |
……. |
…… |
Chapter: [0.04] Determination of Income and Employment
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