Differentiate between individual demand schedule and market demand schedule. |
or |
How does the budget line change, if the consumer's income increases from T 8000 to Rs. 10,000 per month but the price of the goods remain unchanged? |
Wheat (in kg) | Guns (in units) |
100 | 0 |
90 | 25 |
70 | 50 |
40 | 75 |
10 | 85 |
0 | 87 |
What are the effects of change in the price of a substitute good on the demand for a commodity? Explain it with the help of a diagram. |
or |
What is the likely impact of fall in price of one good on indifference curve if it is assumed that consumer only consumes two goods? |
Output (units) | Total Cost (TC)(Rs.) | Average Fixed Cost (AFC)(Rs.) | Average Cost (AC)(Rs.) | Total Variable Cost (TVC)(Rs.) | Marginal Cost (MC)(Rs.) |
1 | 200 | 60 | - | - | - |
2 | 260 | 30 | - | - | - |
3 | 390 | 20 | - | - | - |
Distinguish between extension of supply and increase in supply with the help of a diagram. |
or |
Define supply and market supply. What is the effect on the supply of goods when government imposes a tax on the production of goods? Explain. |
(i) When price of a good is Rs.7 per unit, a consumer buys 12 units. When price falls to Rs.6 per unit, he spends Rs.72 on the good. Calculate price elasticity and comment shape of demand curve. |
(ii) Price elasticity of demand of a good is (-) 0.75. Calculate the percentage fall in its that will result in 15% rise in demand. |
Explain the meaning of over employment equilibrium. Support your answer with diagram. |
or |
Central Bank can play an important role in controlling deflationary trends in an economy. How? |
S. No. | Items | (Rs.) in crores |
(i) | \[NN{{P}_{MP}}\] | 15,000 |
(ii) | Net Factor Income from Abroad | 250 |
(iii) | Indirect Tax | 200 |
(iv) | Subsidies | 150 |
(v) | Depreciation | 500 |
(i) Financial help to flood victims. |
(ii) Retirement pension to the employees. |
(iii) Expenditure by government on providing free education. |
(iv) Salary paid by firm to its worker. |
(i) Revenue deficit, |
(ii) Fiscal deficit and |
(iii) Primary deficit. |
S. No. | Items | (Rs) in arab |
(i) | Capital Receipts Net of Borrowings | 95 |
(ii) | Revenue Expenditures | 100 |
(iii) | Interest Payments | 10 |
(iv) | Revenue Receipts | 80 |
(v) | Capital Expenditures | 110 |
Explain consumption function with the help of a schedule and diagram. |
or |
Explain saving function with the help of a schedule and diagram, |
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