Economics Test out Questions Composition

ECOSYSTEM OMICS

(Three hours)

(Candidates are allowed additional 15 minutes for only reading the paper. They need to OT start writing during this time. )

---------------------------------------------------------------------------------------------------------------Answer Question one particular (compulsory) from Part My spouse and i and five questions from Part II. The meant marks to get questions or perhaps parts of questions are given in brackets [ ]. ----------------------------------------------------------------------------------------------------------------

COMPONENT I (20 Marks)

Response all questions.

Issue 1

Response briefly each of the following queries (i) to (x):

[10 Г— 2]

(i)

Define private cost and social cost.

(ii)

What is meant by equilibrium of repayment?

(iii)

Distinguish between exante and expost demand.

(iv)

Explain the meaning of gross national non reusable income.

(v)

Why is the AR competition parallel to the x axis in a flawlessly competitive industry?

(vi)

What is meant simply by utility? Describe how total utility can be acquired from minor utility.

(vii)

Define price range. When can there be a debt in the budget?

(viii) Explain the meaning of price elegance in monopoly market. (ix)

Define cross elasticity of demand.

(x)

How does Central Bank make use of moral suasion as a device to control credit?

1

ISC Specimen Problem Paper 2014

PART 2 (60 Marks)

Answer any kind of five concerns.

Question two

(a)

(b)

(c)

Discuss how the pursuing can affect the necessity curve of the commodity: (i) Change in the flavor and preferences of a buyer.

(ii) Change in the cash flow of a customer.

Explain marginal rate of substitution with the help of an example. Explain with the help of a diagram the relationship between total utility and marginal power.

[3]

[3]

[6]

Problem 3

(a)

Derive a market demand plan from two hypothetical person demand schedules.

[3]

(b)

Explain the proportion method of calculating elasticity of supply.

[3]

(c)

Discuss with the help of blueprints, how sense of balance price and equilibrium quantity change the moment demand and provide curves reduce simultaneously.

[6]

Question 5

(a)

(b)

(c)

What is the relationship between AR and MR in imperfect competition? Explain by making use of a plan.

State what the law states of varying proportions. Describe any two assumptions with the law. Make clear the shapes of TFC, TVC and TC curves, with the aid of a diagram.

[3]

[3]

[6]

Question 5

(a)

Differentiate among short run creation function and long run creation function.

[3]

(b)

Explain the meaning of break-even level and close point in a good.

[3]

(c)

Discuss 4 characteristics of perfect competition.

[6]

Question 6

(a)

Differentiate between devaluation and depreciation of currency.

[3]

(b)

Discuss any two measures to correct the disequilibrium in the equilibrium of payment.

[3]

(c)

Explain any four primary functions of the Central Bank.

[6]

two

ISC Example of beauty Question Daily news 2014

Query 7

(a)

Define general public expenditure. Make clear how general public expenditure can be used to reduce regional imbalances.

[3]

(b)

Separate between income receipts and capital statements in a government's budget.

[3]

(c)

Establish direct taxes. Discuss any kind of three variations between indirect and direct tax.

[6]

Question eight

(a)

Separate real and nominal Major Domestic Product.

[3]

(b)

Discuss two difficulties in calculating nationwide income simply by income technique.

[3]

(c)

Calculate national income and GDPMP in the following data:

[6]

Rs. in crores

(i)

Mixed income of self employed.

800

(ii)

Organization tax

(iii)

Interest

(iv)

Rent

(v)

Undistributed income

150

(vi)

Employer's contribution to Sociable security

one hundred twenty

(vii)

Payment to personnel

50

90

80

twelve hundred

(viii) Net factor cash flow earned coming from abroad

(ix)

Net indirect...

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