Explain the implications of large number of buyers in a perfectly competitive market. |
Or |
Explain why there are only a few firms in an oligopoly market. |
What does the Law of Variable Proportions show? State the behaviour of marginal product according to this law. |
Or |
Explain how changes in price of inputs influence the supply of a product. |
Market for a good is in equilibrium. There is simultaneous 'decrease' both in demand and supply but there is no change in market price. Explain with the help of a schedule how it is possible. |
Or |
Market for a good is in equilibrium. Explain the chain of reaction in the market if the price is (i) higher than equilibrium price and (ii) lower than equilibrium price. |
Find Net Value Added at Market Price: | ||
(i) | Depreciation (Rs.) | 700 |
(ii) | Output sold (units) | 900 |
(iii) | Price per unit of output (Rs.) | 40 |
(iv) | Closing stock (Rs.) | 1,000 |
(v) | Opening stock (Rs.) | 800 |
(vi) | Sales tax (Rs.) | 3,000 |
(vii) | Intermediate cost (Rs.) | 20,000 |
Find Consumption Expenditure from the following: |
National Income = Rs. 5,000 |
Autonomous Consumption = Rs. 1,000 |
Marginal propensity to consume = 0.80 |
Distinguish between receipts and receipts in a government budget. Give example in case. |
Or |
Explain the role of government budget in economic stability. |
Should the following be treated as final expenditure or intermediate expenditure? Give reasons for your answer. |
(i) Purchase of furniture by a firm. |
(ii) Expenditure on maintenance by a firm. |
Explain the 'lender of last resort' function of the central bank. |
Or |
Explain 'government's banker? function of the central bank. |
Find out (a) Gross National Product at Market Price and (b) Net Current Transfers to Abroad: | ||
(Rs. crores) | ||
(i) | Private final consumption expenditure | 1,000 |
(ii) | Depreciation | 100 |
(iii) | Net national disposable income | 1,500 |
(iv) | Closing stock | 20 |
(v) | Government final consumption expenditure | 300 |
(vi) | Net indirect tax | 50 |
(vii) | Opening stock | 20 |
(viii) | Net domestic fixed capital formation | 110 |
(ix) | Net exports | 15 |
(x) | Net factor income to abroad | (-) 10 |
Explain the concept of 'inflationary gap'. Also explain the role of 'legal reserves' in reducing it. |
Or |
Explain the concept of 'deflationary gap'. Also explain the role of 'margin requirements' in reducing it. |
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