Professional Documents
Culture Documents
Definition of Economics
Group A
Q.No.1 # Write short answers of the following questions.
1. Define Economics according to Prof. Adam Smith.
2. Write the names of classical economists.
3. Define Economics according to Prof. Alfred Marshall.
4. Define Economics Problem.
5. Define Positive Science.
6. Write the name of Prof. Robin’s book. In which year it was written?
7. Define Art.
8. What is Theoretical Economics?
9. Define Macro Economics.
10. Define Deductive Method.
11. Write four points of practical importance of Economics.
TEST Chapter 1
Definition of Economics
Group B
Q.No.1 # Write short answers of the following questions.
1. Define Economics according to Prof. Robbins.
2. Write the names of Neo-classical economists.
3. Define Science.
4. Define Micro Economics.
5. Write four points of educational importance of Economics.
6. Define Normative Science.
7. Write the name of Prof. Marshall’s book. In which year it was written?
8. Define Economic law.
9. Define Economics according to Prof. Adam Smith.
10. Define Inductive Method.
11. Define Applied Economy.
TEST Chapter 2
Consumer’s Demand Theory
Group B
Q.No.1 # Write short answers of the following questions.
1. Define Consumer Equilibrium.
2. Differentiate between Economics and Un-economic wants.
3. Define Positive Utility.
4. Define Total Utility.
5. What is the relationship between Total Utility and Marginal Utility?
6. Differentiate between Utility and Usefulness.
7. Define Law of Equi-Marginal Utility.
8. What do you mean by Point of Satiety?
9. Define Initial Utility.
10. Write the equation of Consumer Equilibrium.
11. Write four assumptions of Law of Equi-Marginal Utility.
TEST Chapter 3
Demand and Supply
Group B
Q.No.1 # Write short answers of the following questions.
1. Define Law of Demand.
2. Differentiate between More Elastic Demand and Less Elastic Demand.
3. Define Arc Elasticity. Also write its formula.
4. Define Joint Demand.
5. Write four limitations of Law of Demand.
6. Differentiate between Supply and Stock.
7. Define Giffen goods.
8. What is Rise and Fall of Supply
9. Define Elasticity of Supply more than unity.
10. Define Equilibrium Price.
11. Define Durable goods.
Q.No.2 # Define and explain Law of Supply with schedule and diagram.
Also write its assumptions and limitations.
TEST Chapter 4 & 5
Factors of Productions & Laws of Return
Group A
Q.No.1 # Write short answers of the following questions.
1. Define Land.
2. What is productivity of Labor?
3. Define Capital.
4. Define Organization.
5. Define Total Production.
6. Define Law of Diminishing Return.
7. Define Law of Constant Return.
8. Write four assumptions of Law of Diminishing Return.
9. Define Law of Increasing Cost.
10. Define Marginal Production.
11. Define Average Production.
TEST Chapter 9
National Income
Group B
Q.No.1 # Write short answers of the following questions.
1. Define National Income in the words of Prof. Pigeo.
2. Define National Income in the words of Prof. Fisher.
3. Define Depreciation.
4. Define Transfer Payment.
5. Define Subsidies.
6. Differentiate Money Income and Real Income.
7. What do you mean by Circular Flow of National Income?
8. Write Different methods of measuring National Income.
9. Write four factors which affect National Income.
10. Write Precautions of the Product Method of measuring National Income.
11. Differentiate between Personal Income and Disposable Personal Income.
TEST Chapter 10
Money
Group B
Q.No.1 # Write short answers of the following questions.
1. Define Money.
2. Write four functions of Money.
3. Define Paper Money.
4. Define Token Money.
5. Define Inconvertible Paper Money.
6. Define Credit Money.
7. Define Limited Legal Tender Money.
8. Define Quantity Theory of Money.
9. Define Inflation.
10. What is Bank Rate?
11. Write four measures to control Inflation.
TEST Chapter 11
Business Cycle / Trade Cycle
Group B
Q.No.1 # Write short answers of the following questions.
1. Define Trade Cycle according to Prof. Haberler.
2. Define Trade Cycle according to Prof. Keyens.
3. Define Accelerator.
4. Define Multiplier.
5. Define Fiscal Policy.
6. Define Monetary Policy.
7. Write any four characteristics of phase of Boom.
8. Write four characteristics of phase of Recession.
9. Write four characteristics of phase of Depression.
10. Write four characteristics of phase of Recovery.
11. Make a Diagram of phases of Trade Cycle.
TEST Chapter 12
International Trade
Group B
Q.No.1 # Write short answers of the following questions.
1. What is meant by International Trade?
2. Define Domestic Trade.
3. Write four advantages of International Trade.
4. Write four disadvantages of International Trade.
5. Define Balance of Trade.
6. Define Balance of Payment.
7. Who did present the Absolute Advantages Theory of International Trade?
8. What is meant by Deficit Balance of Trade?
9. What is meant by Surplus Balance of Payment?
10. Write four causes of deficit Balance of Payment of a country.
11. Write four measures to improve Balance of Payment of a country.
TEST Chapter 13
Public Finance
Group B
Q.No.1 # Write short answers of the following questions.
1. What is meant by Tax?
2. What do you mean by Direct Tax?
3. Define Indirect Tax.
4. Define Proportional Tax.
5. What is meant by Progressive Tax?
6. What is meant by Regressive Tax?
7. Define Value Added Tax.
8. Write four main sources of Public Revenue.
9. Write four Cannon of Taxation by Adam Smith.
10. What is meant by Private Finance?
11. What is meant by Surplus Budget?