What is opportunity cost ? Explain with example.

Economics by Geoffrey

ECONOMICS-2023

Write any three characteristics of capitalistic economy and mixed economy.

  1. What do you mean by macro-economics ? write its characteristics.
  2. Distinguish between micro economics and macro economics. (Any three)
  3. What is opportunity cost ? Explain with example.
  4. What do you mean by production possibility (PPC )?
  5. Differentiate between economic activities and non economic activities. (Any three)
  6. Differentiate between centrally planned economy and market economy . (Any three)
  7. Differentiate between law of demand and elasticity of demand.
  8. Write the essential elements of demand.
  9. What do you mean by utility ? Explain the types of utility.
  10. Write any five factors affecting elasticity of demand.
  11. Explain the factors affecting demand.
  12. Differentiate between substitute goods and complementary goods.
  13. What is indifference curve ? write its features/ characteristics.
  14. Explain the difference between individual demand and market demand schedule.
  15. Write any five exceptions (limitations) to the law of demand.
  16. Differentiate between fixed cost and variable cost. (any four)
  17. Distinguish between stock and supply.
  18. Why cost curves are ‘U’ shaped. Give reasons.
  19. Write exceptions to the law of supply.
  20. . Distinguish between market price and normal price.
  21. Classify market on the basis of time .
  22. Classify market on the basis of area of region.
  23. Distinguish between national income and national wealth.
  24. Discuss the importance of national income.
  25. Distinguish between national income and per capita income.
  26. Distinguish between stock and flow.
  27. Write five suggestions to increase national income in india.
  28. Distinguish between closed economy and open economy.
  29. What are the causes of low national income in India.
  30. Differentiate between stock money and flow money .
  31. Define money ? Write primary functions of money. (or) “Money is the medium of exchange” explain
  32. “Money is a good servant but a bad master” explain.
  33. What is barter system ? What are its defects \ drawbacks ?
  34. What is central bank Explain five functions of RBI (central bank ) in detail.
  35. Write any four functions of commercial banks.
  36. State the difference between metallic money and paper money.
  37. .Differentiate between central bank (RBI) and commercial bank.
  38. Discuss the importance of bank’s in India.
  39. Explain the merits of a good money material.
  40. Discuss the measures to correct excess demand.
  41. Differentiate between excess demand and deficit demand.
  42. What is deficit demand ? what are its causes ?
  43. Write a note on surplus budget, balance budget and deficit budget.
  44. Differentiate between direct tax and indirect tax.
  45. Explain the types of budget.
  46. Differentiate between revenue Expenditure and capital Expenditure.
  47. Differentiate between revenue receipts and capital receipts.
  48. Suggest measures to improve the condition of adverse balance of payments.
  49. Differentiate between balance of trade and balance of payments.
  50. Give arguments in favour and against fixed exchange rate.
  51. Explain the factors affecting fluctuations in foreign exchange.
  52. Discuss the monetary measures to correct disequilibrium in the balance of payments.
  53. Discuss the Non-monetary measures to correct disequilibrium in the balance of payments
  • Substitute Goods?                                                  Complementary Goods?
  • Giffen Goods (Giffen Paradox)?                          Utility ?
  • Consumption Goods ?                                           Capital Goods ?
  • (Consumer ) Final Goods ?                                   Budget Line ?
  • Law Of Supply ?                                                      Gross Domestic Production(GDP) ?
  • Capital Budget?                                                       Supplementary Budget?
  • Tax Evasion?                                                            Inferior Goods ?
  • Monotonic Preferences ?                                       Central Bank
  • Consumers Budget                                                  Paradox Of Thrift
  • Excess Supply                                                           Mixed Income
  • Excess Demand ?                                                    “Says Law Of Market”