Economics-1

Very Long Questions:-

1. Define National income. Explain the various methods of computation of national income.
. Explain the la! of varia"le proportion !ith a suita"le diagram.
#. $tate and explain the la! of e%ui- marginal utility. &o! does it explain the cusmer's e%uili"rium.
(. Explain the la! of diminishing marginal utility !ith the help of a diagram.
). Explain the la! of returns to scale. *ention the reasons for different +inds of returns.
,. Explain ho! price is determined under perfect competition mar+et.
-. Explain the short run costs. fixed. varia"le and total costs of a firm. &o! they are related to
output.
/. Explain the three forms of demand !ith suita"le diagram.
0. Dra! an indifference curve !ith the help of an indiffernce schedule.
11. Explain the short run and long run e%uili"rium of a firm under perfect competition !ith suita"le
diagram.
Long Questions:-
1.Define supply and explain the determinants of supply.
. Explain the functions of central "an+.
#. Discuss the static and dynamic analysis of econmic theory.
(. Explain the different types of inflation.
). Explain the la! of demand. 2hat are the exceptions to the la! of demand.
,. 2hat is monopoly. Explain the different types of monopoly.
-. 3o""in's scarcity defination of economics.
/. Define average and marginal cost. Explain the relation "et!een average and marginal cost
curve.
0. Descri"e the functions of comercial "an+s.
11. 2hat is the meaning the micro and macro economics and explain the importance of them.
11. 2hat are the important functions of an entrepreneur.
1. Explain the three methods of measuring price elastics of demand.
1#. 2hat is price discrimination. 2hat are the methods of price discrimination.
1(. Descri"e the role played "y the reserve "an+ of india 43567.
1). 2ants Efforts $atisfaction . Explain them "riefly.
1,. Distinguish "et!een "alance of trade and "alance of payment.
1-. 2hat are the factors that determine real !ages.
1/. Define rent and explain 3iardian theory of rent.
10. Explain various methods of de"t redemptions.
1. Distinguish "et!een demand pull and cost push inflations.
$hort Questions:-
1. 8avaura"le and unfavaura"le.4overdraft7.
. Disposa"le 6ncome.
#. 3eal !age.
(. Devaluation.
). Deductive method and induductive method.
,. Net interest.
-. 9er capital inicome.
/. :ross profit.
0. ;pporitunity cost.
11. Economics agents.
11. 2ealth.
1. Quasi 3ent.
1#. ;rdinal and <ardinal utility.
1(. 5udget line.
1). Legal tender money.
1,. 6ntermediary goods.
1-. 3evenue and capital.
1/. ;ligopoly.
10. Duopoly.
1. production 8unctions.
1. <ash credit.
. $peculation.
#. Li%uidity.
(. Demand schedule.
). Economics statics.