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Inter Public Exams Section wise Important Questions

Civics -I

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SUBJECT: ECONOMICS I (18 Days)

Prepared by : Sri. D.Kishore, CJL Eco, Cell: 9985842584


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Day Date 1

Section wise - Question(s) to be prepared / Practiced


Section C { Two [ 2 ] Marks Questions } 1.Economic goods 2.Capital Goods 3.Intermediary goods 4.Wealth 5. Choice Problem 6. Price 7.Deductive Method 8.Inductive Method 9.Economic Status 10. Economic Dynamics 11.Partial Equilibrium 12. General Equilibrium 13.Micro Economics 14. Macro Economics 15. Cardinal Utility 16. Ordinal Utility 17. Total Utility 18. Marginal Utility 19.Consumers Equilibrium 20.Individual demand schedule 21. Market demand schedule 22. Giffen goods 23.Prestigious goods 24.Cross demand 25.Substitutes 26.Complementaries 27.Demand function 28.Inferior goods 29.Speculation 30.Importance of Price Elasticity of Demand 31. Explain Price Elasticity of Demand 32.What is income elasticity of demand 33.Perfectly elastic demand 34.Perfectly inelastic demand 35. Unitary elastic demand 36.Arc Method 37. Isoutility curve 38.Draw the indifference Map 39.Budget or Price line 40.Explain Scale of preference 41.Production function 42.Analyse the supply function 43.Supply Schedule 44. What is meant by supply 45.Explain supply with the help of a diagram 46. Variable factor 47.Define the Concept of Land 48.Explain the Concept of Opportunity cost 49.Define the Average Product 50.Marginal Product 51.Money Costs 52. Real Costs 53.Average Costs 54.Marginal Costs 55. Average Revenue 56. Marginal Revenue 57.Market 58. Local Market 59. National Market 60.Monopoly 61.Monopolistic Competition 62. Oligopoly 63.Duopoly 64.Market Period 65. Short Period 66. Long Period 67. Equilibrium price 68. Equilibrium of a firm 69. Product differentiation 70. Net Interest 71. Real Wages 72. Quasi Rent 73. Money Wages 74.Gross Profit 75.Transfer earnings 76.Gross National Product (GNP) 77.Per Capita Income 78.Depreciation 79.What is transfer payments 80.Disposable income 81.Says Law of Market 82. Effective demand 83.International Trade 84.Explain the meaning of Deficit - Budget 85.Fiscal deficit 86. Full employment 87.Near Money 88. Primary Deposit 89.Over Draft (O.D) 90.Meaning of Liquidity 91.Recurring Deposit 92. Demand Deposits 93.Time Deposits 94.Clearance house 95.Lender of last resort 96.Reserve Bank of India 97.Meaning of Inflation 98.Inflation Rate 99.Demand Pull inflation 100.Cost-Push inflation 101.Hyper inflation 102. Suppressed inflation Section B { Five [ 5 ] Marks Questions } 1. Explain the characteristic features of human wants? 2. Define utility and discuss various types of utility? 3. Write about the Samuelsons definition of Economics? 4. Jacob Viners definition of Economics? 5. What are the methods of Economic investigation? 6. Discuss the static and dynamic analysis of Economic theory? 7. Explain the factors that determine demand? 8. Why a demand curve has a negative slope? 9. Write exceptions to the law of Demand?

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Inter Public Exams Section wise Important Questions

Civics -I

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10. Explain the law of demand. 11. Explain total outlay method of measuring elasticity. 12. Explain how you can measure the price elasticity of demand by point-method. 13. What are the determinants of elasticity of demand? 14. Explain the importance of the concept of Elasticity of demand. 15. What are indifference curve? List its properties. 16. Explain how a consumer reaches equilibrium with the help of indifference curves. 17. Draw an indifference curve, with the help of an indifference schedule. 18. Explain briefly the concept of MRS 19. What is a budget or price line? 20. Discuss the lam of supply. What are the other factors that determine supply? 21. Trace out the relationship between Average and marginal cost curve. 22. Discuss briefly internal economics. 23. What is a market? Explain classification of markets. 24. What are the main features of perfect competition? 25. Explain the important characteristics of monopolistic competition. 26. What is meant by price discrimination? What are the methods of price discrimination? 27. Define Oligopoly. What are possible methods firms may choose under this market? 28. What are the wastages under monopolistic competition? 29. Define Rent and explain Ricardian theory Rent. 30. What are the factors that determine real wages? 31. Write five components of National Income. 32. What is National Income at factor cost? 33. What are the factors that determine National Income? 34. Supply creates its own demand Comment on the statement. 35. Enumerate the assumptions of Says Law markets. 36. What are the sources of public revenue? 37. Describe the various methods of redemption of Public debt. 38. Enumerate the reasons of International Trade. 39. Explain the difficulties of Barter system. 40. Explain any five functions of money. 41. Describe the functions of the Commercial Banks 42. Explain the functions of the Central Bank 43. Define inflation. Explain the causes of inflation 44. Enumerate the measures for control inflation 45. State the types of inflation Section A { Ten [ 10 ] Marks Questions } 1. Explain the Law of diminishing marginal utility. What are its limitations? 2. Explain the law of Equi-marginal utility, with the help of diagram. What are its limitations? 3.What is Price elasticity of demand? Explain the different forms of price elasticity of demand. 4. State the law of variable proportions and explain its importance? 5. What is meant by economics of scale? Discuss different types of Internal Economics 6. Define perfect competition. How price of a commodity is determined under perfect Competition? 7. Define monopoly. How does a monopolist fix price for his product? 8. Define National Income and explain the various concepts of National Income. 9. Explain the various methods of calculating National Income. 10. Explain the Kegnesian theory of employment

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