'Economics is a study of mankind in the ordinary business of life' - It is the statement of

(a)

Adam Smith

(b)

Lionel Robbins

(c)

Alfred Marshall

(d)

Samuelson

Who is the author of the book "An essay on the nature and significance of economic science?

(a)

Lionel Robbins

(b)

Karal Marx

(c)

Adam smith

(d)

Alfred Marshall

Choice is always constrained or limited by the _______ of our resources.

(a)

Scarcity

(b)

Supply

(c)

Demand

(d)

Abundance

The Law of Equi-Marginal Utility' is also called as _________

(a)

Law of demand

(b)

Law of supply

(c)

Law of substitution

(d)

Law of gravitation

Mention the economies reaped from inside the firm

(a)

financial

(b)

technical

(c)

managerial

(d)

all of the above

In the long-run, the quantity of factors of production_________.

(a)

remains constant

(b)

changes

(c)

is zero

(d)

is infinity

Marginal revenue is the addition made to the

(a)

total sales

(b)

total revenue

(c)

total production

(d)

total cost

Equilibrium condition of a firm is ___________

(a)

MC = MR

(b)

MC > MR

(c)

MC < MR

(d)

MR = Price

A place where buyers and sellers meet and bargain over a commodity for a price is called __________

(a)

Den

(b)

shop

(c)

market

(d)

exchange

Theory of distribution is popularly known as,

(a)

Theory of product-pricing

(b)

Theory of factor-pricing

(c)

Theory of wages

(d)

Theory of interest

___________ is the surplus of income over expenses on production.

(a)

Interest

(b)

Wages

(c)

Profit

(d)

Rent

The advocate of democratic socialism was

(a)

Jawaharlal Nehru

(b)

P.C. Mahalanobis

(c)

Dr. Rajendra Prasad

(d)

Indira Gandhi

The Industry which was de-reserved in 1993?

(a)

Railways

(b)

Mining of copper and zinc

(c)

Atomic energy

(d)

Atomic minerals

The Five Year Plan, based on the Harrod-Domar model was the__________

(a)

First Five Year Plan

(b)

Second Five Year Plan

(c)

Third Five Year Plan

(d)

Fourth Five Year Plan

The transfer of ownership from public sector to private sector is known as________

(a)

Globalization

(b)

Liberalization

(c)

Privatization

(d)

Nationalization

Export subsidies are provided to Indian exporters_________.

(a)

directly

(b)

indirectly

(c)

continuously

(d)

conditionally

Identify the agriculture related problem of rural economy

(a)

Poor communication

(b)

Small size of landholding

(c)

Rural poverty

(d)

Poor banking network

Largest area of land is used in the cultivation of

(a)

Paddy

(b)

Sugarcane

(c)

Groundnut

(d)

Coconut

__________ is the formula for calculating per capita income.

(a)

\(\frac { National\ Income }{ Total\ Population } \)

(b)

\(\frac { Total\ Population }{ National\ Income } \)

(c)

\(\frac { GST }{ Total\ Population } \)

(d)

\(\frac { Tax }{ Price }\)

The first differentiation of Total Revenue function gives

(a)

Average Revenue

(b)

Profit

(c)

Marginal Revenue

(d)

Zero

What are goods?

What is meant by division of labour?

Give the definition for 'Real cost'.

What does Dumping refer to?

What do you mean by economic infrastructure?

What are the Phases of colonial exploitation of India?

What do you mean by Agricultural Produce Market Committee?

State any two causes of housing problem in rural areas.

Explain Automotives?

If Y = 2x³ – 6x, then find \(\frac { dy }{ dx } \)

What are the different features of services?

What are the importance of elasticity of demand?

Bring out the relationship among Total, Average and Marginal Products.

State the relationship between AC and MC.

What are the different types of price discrimination under monopoly?

List out the kinds of wages.

Explain briefly education system in India.

State the reasons for nationalisation of commercial banks.

What is the Kisan Credit Card Scheme?

Given TR = 50Q - 4Q², find marginal revenue when Q = 3.

1. Elaborate the nature and scope of Economics.

2. Explain the uses of production possibility curve.

1. What are the methods of measuring elasticity of demand?

2. What are the factors determining supply?

1. Explain the meaning of Fixed and Variable factors and costs.

2. Brint out the features of perfect competition.

1. Explain the Residual Claimant Theory of Wage.

2. What are the weaknesses of Indian Economy?

1. Describe the performance of five year plans in India.

2. Explain about Agrarian Crisis after reforms.

1. "The features of Rural Economy are peculiar"- Argue.

2. Trace the development of Industry in Tamil Nadu.

1. Solve by Cramer's rule
   \(2{ x }_{ 1 }+3{ x }_{ 2 }=7;\)
   \(2{ x }_{ 1 }+{ x }_{ 2 }=5\)

2. A manufacturer estimates that, when units of a commodity are produced each month the total costs will be TC(Q) = 128 + 60Q + 8Q². Find the marginal cost, average cost, fixed cost, variable cost, average fixed cost and average variable cost.