Question:-Economics

1. Discuss important Characteristic and application of Business

Economics.

2. Distinguish between Micro and Macro Economics.

3. Define utility Illustrate the relationship between the total utility.

Marginal utility and average utility graphically.

4. What are indifference curves? What are the assumptions on which

indifference curve analysis is based? Explain the properties of
indifference curves.

5. Define the concept os Elasticity of Demand.

6. Define price elasticity of demand. What would be the shape of the

demand curve when its price elasticity is (i) zew (ii) unitary and (iii)
Infinite.

7. Discuss meaning and significance of Demand Forecasting.

8. Discuss critically the different methods of demand forecasting.

9. What do you mean by production function? Explain various types of

production functions.

10. Define cost of production. Destinguish between the following

concepts.

(a) Real cost and opportunity cost

(b)Incremental cost and Sunk Costs.

(c) Past costs and Sunk Costs.

11. What do you mean by Economies of scale . What are the major
two types of Economies of cale.

12. What do you understand by mechanism of market

13. What do you mean by Perfect competition? What are its

characteristics.

14. What are two conditions of equilibrium of the firm.

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 15. What is Monopoly? Explain the features of Monopoly?

16. What is meant by price discrimination and what are the various
types of price discrimination.

17. Explain with diagrams the main characteristics of an oligopolistic

market and equilibrium of a firm facing kinked demand curve.

18. What are the objectives of pricing policy?

19. For substitutes , cross-elasticity of demand is

20. A monopolist does not have a

21. Keynes included in the category of `active balances’ money held

for

22. Human wealth was included in the concept of wealth by

23. In the human developed index, developed by UNDP, which

among the following variables is not used?

24. Under the system of fluctuating exchange rates regime, the

adjustment in the balance of payments is brought about by the
changes in

25. Provision of social goods poses problem because

26. The imposition of a selective Sales Tax will raise the price of the
taxed product by equal amount if it is produced under

27. India`s external debt at end-September,1999 Stood at US($)

28. If a boy cycles 8 km at the speed of 8km per hour, and walks
another 8 km at the speed of 2 km per hour. His average speed per
hour is

29. All points on a consumer`s demand curve

30. If there are diminishing returns to a variable factor proportions, it

means that returns to scale are

31. Under perfect Competition, the demand curve for the product of
a firm is

32. A kinked demand curve involves a marginal revenue curve that

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 33. Difference between GNP at market price and NNP at factor cost
is

34. Gresham’s law relates to

35. A coin is tossed 4 times the probability that all the four are heads
is

36. Dropsony is a market situation where there are

37. The input-output analysis is associated with

38. Perfect competition leads to a point on the grand utility

possibility curve,

39. Hicks compensation criteria is used in the

40. The term `hot money’ is used to refer to

41. The aggregate supply curve in an economy is derived on the

basis of

42. The rate of inflation in India is measured generally in respect of

movement in

43. District credit plan is Preferred by

44. Which of the following does not directly lead to urban

environmental pollution?

45. Laspeyre`s index number satisfies

46. The mean of a binomial distribution is 20.0 and S.D. is 4.0. The
value of q then will be

47. The Engel curve for a Giffen good is

48. Input- output isoquants show that between the factors of

production, there are

49. When there are increasing returns to variable factor proportions,

it implies returns to scale which are

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