File Details:

Questions:

1. Economics is a science as well as an art. Comment.
2. Give the merits and demerits of deductive methods.
3. What are the properties of PPC?
4. What is trade cycle?
5. Differentiate GDP and GNP.
6. Comment on L-P-G.
7. What do you understand by issues of dumping?
8. Differentiate inferior goods and Giffen goods.
9. Define average product and marginal product.
10. Explain the essential differences between macroeconomic and microeconomic approaches and their significance for economic theory.
11. Explain the law of diminishing marginal utility. Does it apply to money?
12. What is return to scale? Discuss its various types.
13. Show how in perfect competitive equilibrium the price of a commodity is equal to its average and marginal cost of production.
14. Explain the differences between perfect competition, monopolistic competition, and monopoly. Show how price is determined under monopolistic competition with a diagram.
15. Define National Income.
16. Trace the relationships between GNP and NNP.
17. Distinguish fiscal policy and monetary policy.
18. Discuss export-import policy 2004-2009.
19. Define MNCs and explain their merits and demerits in the Indian economy.