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    1st Year Economics Important Questions

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    Nayim Mohammad
    This document provides a list of potential questions for a Junior Inter Economics exam, including multiple choice and short answer questions. It covers topics such as consumer behavior, demand analysis, national income, market structures, distribution of income, macroeconomic concepts, and economic statistics. There are over 75 questions listed ranging from 2 to 10 marks testing knowledge of fundamental economic theories, laws, definitions, and analytical methods.

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    1st Year Economics Important Questions

    Uploaded by

    Nayim Mohammad
    143K views4 pages
    This document provides a list of potential questions for a Junior Inter Economics exam, including multiple choice and short answer questions. It covers topics such as consumer behavior, demand analysis, national income, market structures, distribution of income, macroeconomic concepts, and economic statistics. There are over 75 questions listed ranging from 2 to 10 marks testing knowledge of fundamental economic theories, laws, definitions, and analytical methods.

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    This document provides a list of potential questions for a Junior Inter Economics exam, including multiple choice and short answer questions. It covers topics such as consumer behavior, demand analysis, national income, market structures, distribution of income, macroeconomic concepts, and economic statistics. There are over 75 questions listed ranging from 2 to 10 marks testing knowledge of fundamental economic theories, laws, definitions, and analytical methods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    143K views4 pages

    1st Year Economics Important Questions

    Uploaded by

    Nayim Mohammad
    This document provides a list of potential questions for a Junior Inter Economics exam, including multiple choice and short answer questions. It covers topics such as consumer behavior, demand analysis, national income, market structures, distribution of income, macroeconomic concepts, and economic statistics. There are over 75 questions listed ranging from 2 to 10 marks testing knowledge of fundamental economic theories, laws, definitions, and analytical methods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4
    At a glance
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    The document covers a wide range of concepts in both microeconomics and macroeconomics that are important for economics exams, including laws, theories, and analysis related to consumers, markets, production, distribution, and national income.

    Some of the main concepts covered include demand and supply analysis, elasticity, market structures like perfect competition and monopoly, factors of production and distribution of income, national income accounting, macroeconomic theories of employment and growth.

    Important microeconomics concepts discussed include laws of demand and supply, elasticity, consumer choice theory, production and cost analysis, market structures like perfect competition and monopoly, and theories of factor pricing and income distribution.

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    Jr. Inter Economics Imp Questions
    (Including II Semester also)
    10 Marks Questions : (5 Questions)
    1. Explain law of Diminishing Marginal Utility? What are its limitations?
    (Mar.2011, May.2011, Mar.12, March-2013, May-13, March-2015)
    2. Explain law of Equi Marginal Utility? (June-2010)
    3. Explain the different forms of Price Elasticity of Demand. (May.2011)
    4. Explain various methods of measurement (computation) of National Income?
    (March-2011, May-2011, Mar.2012, May.2012, May-2013, March-2015)

    m
    5. Describe the Internal and External Economies ?
    6. Critically examine the law of variable proportions ?

    co
    (March-2011, May-2011, May 2012, May-13, March-2015)
    7. Explain the law of returns to scale? (March-2012, March-2013)

    n.
    8. Explain the classifications of Markets? (March-2012)
    9. What is perfect Market? Explain how Price is determined under Perfect Market ?

    io
    (March-2011, May.2012, March-2013)

    at
    10. What is Monopoly? Explain how price determination under Monopoly.
    11. Explain the Keynesion theory of Employment ? (or) Effective Demand ?
    uc
    (March-2011, May.2012, March-2013, May-13, March-2015)
    5 Marks Questions :
    ed

    Introduction (2 Questions)
    1. Distinguish between 'Micro' and 'Macro' Economics. (March-2015)
    i

    2. Explain the Robbin's definition of Economics.


    sh

    3. What are the methods of the Economic Investigation? (March-2010)


    4. Explain the characteristic features of Human Wants? (May-2011)
    ak

    5. Explain different types of goods.


    6. What is Utility? Explain various types of Utility? (June-2010, May-2012, March-2013)
    .s

    Theory Of Consumer Behaviour (1 Question)


    w

    7. Explain Cardinal Utility, Ordinal Utility, Marginal Utility and Total Utility. (May.2011)
    w

    8. Explain the properties of Indifference Curves?


    (March-2011, May-2011, March.2012, May.2012, March-2013, March-2015)
    w

    9. What is an Indifference Curve? What are its assumptions?


    Demand Analysis (2 Questions)
    10. Explain the factors that determine Demand? (March-2010, March.2012, May.2012)
    11. Explain Law of Demand and exceptions to the Law of Demand? (May-2013, Mar.-2015)
    12. Why does a Demand curve has a negative slope? (March-2010, March-2013, May-13)
    13. What are the factors determining Elasticity of Demand? (March-2011)

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    14. Explain the importance of Elasticity of Demand. (March - 2013) www.sakshieducation.com


    15. Describe Income and Cross Elasticity of Demand.
    National Income (1 Question)
    16. What is National Income? Explain various components of National Income? (Jun.2010)
    17. What are the factors that determine National Income ? (March-2010)
    18. Explain any three definitions of National Income.
    Market Analysis
    19. Explain the characteristic features of Perfect Competition? (June-2010)
    20. Characteristic features of monopolistic competition.
    21. Compare Perfect Competition and Monopoly.
    Theory Of Distribution (1 Question)
    22. What are the factors that determine the factor prices.
    23. Explain the Ricardian theory of Economic Rent?
    (Why does rent arise according to Ricardo) March-2012, May2012)
    24. Explain the factors determing Real Wages? (Jun-2010, Mar.-11, May-11, Mar.13, May.13)
    Macro Economic Concepts (2 Questions)
    25. Discuss the assumptions of classical theory of Full Employment? (Mar.2011, May-2011) (Say's
    Law of Market)
    26. Explain the various sources of Public Revenue?
    (Mar-2011, Mar.12, May.12, March-2013, May-13, March-2015)
    27. What are the various methods of Debt. redumption? (May-2011, May.2012, May-2013)
    28. "Supply creates its own demand". Comment on the statement. (May-2011, March-2015)
    29. List out various items of Public Expenditure.
    Money, Banking And Inflation (2 Questions)
    30. Explain the difficulties of Barter System.
    31. Explain the functions of Money ? (Mar.-11, May-2011, Mar.2012, May. 2012, Mar.-13)
    32. Explain various kinds of deposits accepted by Commercial Banks? (June-2010)
    33. Explain various kinds of loans paid by Commercial Banks? (March-2010)
    34. Mention various types of Inflations? (May-2011, March-2012, May-2012, March-2015)
    35. What is Inflation? What are its Economic effects ? (May-2013)
    36. Explain various measures to control Inflation? (June-2010, March-2013)
    37. Define the causes of Inflation.
    38. State any three major functions of Central Bank.
    Economic Statistics (1 Question)
    39. What is the relationship between Economics and Statistics? (March-2015)
    40. Describe Lorenz Curve.
    41. Explain simple and sub-divided bar diagrams with examples.

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    2 Marks Questions : www.sakshieducation.com

    Introduction (2 Questions)
    1. Micro Economics (Mar.2010, Jun.2010)
    2. Macro Economics (Mar.2011, Jun.2011, Mar.12, May-2013)
    3. Deductive Method 4. Inductive Method
    5. Positive and Normative Economics 6. Free and Economic goods
    7. Consumer goods 8. Capital Goods (March-2015)
    9. Wealth concept 10. Value concept
    11. Economic Statistics 12. Economic dynamics
    13. Problems of an economy 14. Intermediary goods
    Theory Of Consumer Behaviour (1 Question)
    15. Cardinal Utility (Mar.2011, Mar.12, March-2013)
    16. Oridinal Utility (Mar.10, Mar.-2012, May.12, May-13)
    17. Marginal Utility (Jun.2011)
    18. Budget Line (or) Price Line (Mar.2011, Jun.2011, Mar-2015)
    19. Indifference curve 20. Marginal Rate of Substitution
    Demand Analysis (2 Questions)
    21. Individual Demand Schedule 22. Market demand schedule
    23. Demand Function 24. Giffens Paradox (or) Giffens Goods
    25. Veblen Goods (or) Prestigious Goods 26. Income Demand
    27. Cross demand 28. Substitute goods
    29. Complementary goods 30. Cross Elasticity of Demand.
    Production Analysis (1 Question)
    31. Characteristics of Land 32. Division of Labour
    33. Production Function (May-2013) 34. Marginal Product and Average Product
    35. Law of Supply (March-2015) 36. Supply schedule and supply curve
    37. Supply function 38. Money costs
    39. AC and MC relationship 40. AR and MR in perfect competition
    41. AR and MR in Monopoly
    Market Analysis (2 Questions)
    42. What is Market? (Jun.2011) 43. Time based Markets
    44. Area based Markets 45. Competition based Markets
    46. Perfect competition 47. Monopoly (March-2015)
    48. Monopolistic Competition (May-2013) 49. Oligopoly (March-2013)
    50. Duopoly (March-2010, May-2013) 51. Equilibrium Price (Jun.2010, Mar.12)
    52. Product differentiation 53. Selling costs

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    Theory Of Distribution (2 Questions) www.sakshieducation.com

    54. Contract Rent 55. Economic Rent


    56. Scarcity Rent (March-2015)
    57. Quasi Rent (Mar.10, Jun.10, Mar.11, Jun.11, Mar.12, May.12, March-2013, May-2013)
    59.Money Wages (Mar.-2010, May.12, May-
    58. Transfer Earnings 2013)
    60. Real Wages (March-2015) 61. Gross Interest
    62. Net Interest (Mar.2011) 63. Gross Profit (March-2013)
    64. Net Profit (March-2013) 65. Risk theory
    66. Uncertainty theory
    National Income Analysis (1 Question)
    67. GNP (Mar.12, May.12, March-2013, March-2015)
    68. GNP at factor cost 69. GDP
    70. NNP at factor cost 71. Percapita Income(Mar.2013, May.2013)
    72. C + I + G + (X - M)
    Macro Economic Analysis (2 Questions)

    73. Say's Law of Markets (Jun.2010) 74. Full Employment (March.2012)


    75. Aggregate Demand Function 76. Effective Demand (Jun.2011, 2015)
    77. Deficit Budget (Mar.10, Jun.20, Mar.11, May.12, Mar-2013, May-2013)
    78. Fiscal Deficit (March-2015) 79. Primary Deficit
    80. Finance commission 81. Federal finance
    82. Wage-cut policy
    Money - Banking - Inflation (4 Questions)
    83. Barter System 84. Near Money (Jun.2011, May-2013)
    85. Over Draft (Mar.2011, Jun.2011, Mar.12, March.2013, May.2013, March-2015)
    86. Components of money supply 87. Savings deposits
    88. Time deposits 89. Recurring Deposits (Mar-11, Mar-13)
    90. Discunting of bills of exchange 91. Net Banking
    92. Objectives of central Bank 93. Note Issue
    94. Clearance house 95. Cost-push and demand-pull inflation

    Basic Statistics For Economics (3 Questions)


    96. What is a Pie diagram? (March-2015) 97. Explain uses of sub-divided diagrams.
    98. Explain the concept of mode. 99. What is dispersion?
    100. Explain the utility of coefficient of variation.
    101. Arithmetic Mean 102. Median
    Lorenz
    103. Mode 104. Curve

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