The basic problem studied in Economics is

(a)

Unlimited wants

(b)

Unlimited means

(c)

Scarcity

(d)

Strategy to meet all our wants

_____have exchange value and their ownership rights can be established and exchanged

(a)

Goods

(b)

Services

(c)

Markets

(d)

Revenue

The chief exponent of the cardinal utility approach was

(a)

J.R. Hicks

(b)

R.G.D. Allen

(c)

Marshall

(d)

Stigler

Which factor is called the changing agent of the Society

(a)

Labourer

(b)

Land

(c)

Organizer

(d)

Capital

Money cost is also known as _____ cost.

(a)

explicit

(b)

implicit

(c)

social

(d)

real

Equilibrium condition of a firm is ___________

(a)

MC = MR

(b)

MC > MR

(c)

MC < MR

(d)

MR = Price

In monopoly, MR curve lies below ____________

(a)

TR

(b)

MC

(c)

AR

(d)

AC

Rent is the reward for the use of

(a)

Capital

(b)

Labour

(c)

Land

(d)

Organization

Which one of the following is a developed nations?

(a)

Mexico

(b)

Ghana

(c)

France

(d)

Sri Lanka

The power for governance of India was transferred from the East India Company (EIC) to the British crown in

(a)

1758

(b)

1858

(c)

1958

(d)

1658

Distinguish goods from services.

Name the basic approaches to consumer behaviour.

State the production function.

Define cost function.

Who is price-taker?

What do you mean by interest?

Write the short note on natural resources.

What are the objectives of Tenth five year plan?

Distinguish between microeconomics and macroeconomics.

State and explain the elasticity of supply.

Distinguish between explicit cost and implicit cost.

State the Dynamic Theory of profit.

Explain social infrastructure.

State the reasons for nationalisation of commercial banks.

What is PQLI?

Explain the law of Equi - marginal utility

Explain the strong features of Indian economy.