Explain the law of diminishing marginal utility with the help of a total utility schedule. |
Or |
Explain the condition of consumer's equilibrium with the help of utility analysis. |
Complete the following table: | ||
Units of Labour | Average Product (Units) | Marginal Product (Units) |
1 | 8 | ? |
2 | 10 | ? |
3 | ? | 10 |
4 | 9 | ? |
5 | ? | 4 |
6 | 7 | ? |
Giving reasons, state whether the following statements are true or false: |
(i) A monopolist can sell any quantity he likes at a price. |
(ii) When equilibrium price of a good is less than its market price, there will be competition among the sellers. |
Explain consumer's equilibrium with the help of Indifference Curve Analysis. |
Or |
Explain the relationship between |
(i) Prices of other goods and demand for the given good. |
(ii) Income of the buyers and demand for a good. |
Distinguish between revenue expenditure and capital expenditure in Government budget. Give an example of each. |
Or |
Distinguish between revenue deficit and fiscal deficit. |
Calculate 'Sales' from the following data: | ||
(Rs. in lakhs) | ||
(i) | Net value added at factor cost | 560 |
(ii) | Depreciation | 60 |
(iii) | Change in stock | (-) 30 |
(iv) | Intermediate cost | 1000 |
(v) | Exports | 200 |
(vi) | Indirect taxes | 60 |
Giving reasons categorise the following into stock and flow: |
(i) Capital |
(ii) Saving |
(iii) Gross domestic product |
(iv) Wealth |
Or |
Explain the circular flow of income. |
C = 100 + 0.4Y is the Consumption Function of an economy where C is Consumption Expenditure and Y is National Income. Investment expenditure is 1100. Calculate |
(i) Equilibrium level of National Income. |
(ii) Consumption expenditure at equilibrium level of National Income. |
Complete the following table: | |||
Income (Rs.) | Consumption expenditure (Rs.) | Marginal propensity to save | Average propensity to save |
0 | 80 | ? | ? |
100 | 140 | 0.4 | ? |
200 | ? | ? | 0 |
? | 240 | ? | 0.20 |
? | 260 | 0.8 | 0.35 |
Calculate National Income from the following data: | ||
(Rs. in crores) | ||
(i) | Private final consumption expenditure | 900 |
(ii) | Profit | 100 |
(iii) | Government final consumption expenditure | 400 |
(iv) | Net indirect taxes | 100 |
(v) | Gross domestic capital formation | 250 |
(vi) | Change in stock | 50 |
(vii) | Net factor income from abroad | (-) 40 |
(viii) | Consumption of fixed capita | 20 |
(ix) | Net imports | 30 |
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