Utility means

(a)

Equilibrium point at which demand and supply are equal

(b)

Want - satisfying capacity of goods and services

(c)

Total value of commodity

(d)

Desire for goods and services

Who 'defined "Economics as the science' of wealth"

(a)

J.M. Keynes

(b)

Adamsmith

(c)

Marshall

(d)

Malthus

Given potential price is Rs. 250 and the actual price is Rs. 200. Find the consumer surplus.

(a)

375

(b)

175

(c)

200

(d)

50

Indifference curves never intersect each other due to_______________.

(a)

different levels of satisfaction

(b)

same levels of satisfaction

(c)

convex to the origin

(d)

concave to the origin

Product obtained from additional factors of production is termed as

(a)

Marginal product

(b)

Total product

(c)

Average product

(d)

Annual product

Economies are broadly divided into ___________types.

(a)

One

(b)

Two

(c)

Three

(d)

Four

Marginal revenue is the addition made to the

(a)

total sales

(b)

total revenue

(c)

total production

(d)

total cost

Profit of a firm is obtained when __________.

(a)

TR < TC

(b)

TR - MC

(c)

TR > TC

(d)

TR = TC

"Perfect competition prevails when the demand for the output of each producer is perfectly elastic" says__________________.

(a)

Joan Robinson

(b)

Edward Chamberlin

(c)

John Maynard Keynes

(d)

Prof. Clark

Residual Claimant Theory is propounded by

(a)

Keynes

(b)

Walker

(c)

Hawley

(d)

Knight

Higher the risks, the greater are the ________.

(a)

Loss

(b)

Subsidy

(c)

profit

(d)

None of these

Amartya Kumara Sen received the Nobel Prize in Economics in the year

(a)

1998

(b)

2000

(c)

2008

(d)

2010

Annual plans formed in the year _________ .

(a)

1989 - 1991

(b)

1990 - 1992

(c)

2000 - 2001

(d)

1981 - 1983

The investment in equipment of Micro service Enterprises does not exceed__________.

(a)

20 Lakhs

(b)

10 Lakhs

(c)

5 Lakhs

(d)

25 Lakhs

The new economic policy is concerned with the following

(a)

Foreign investment

(b)

Foreign technology

(c)

Foreign trade

(d)

All the above

Vishesh Krishi Upaj Yojana has been started for____________.

(a)

Agricultural export

(b)

Export of services

(c)

Export of handlooms and handicrafts

(d)

Export of gems and jewellery

Identify the year of launch of MUDRA Bank?

(a)

1995

(b)

2000

(c)

2010

(d)

2015

The Headquarters of Southern Railway is at

(a)

Tiruchirappalli

(b)

Chennai

(c)

Madurai

(d)

Coimbatore

The GSDP of Tamil Nadu on nominal term is equal to the GDP of___________________.

(a)

Bangladesh

(b)

Burma

(c)

Kuwait

(d)

Canada

A statement of equality between two quantities is called

(a)

Inequality

(b)

Equality

(c)

Equations

(d)

Functions

What are goods?

Definition of law of supply.

Define cost function.

What is Oligopoly?

What are the different types of Natural resources?

What are the objectives of Tenth five year plan?

What is "EXIM POLICY (2015 - 2020)"?

What do you mean by Micro Finance?

What is Life Expectancy?

The demand function is given by x = 20 - 2p - p² where p and x are the price and the quantity respectively. Find the elasticity of demand for p = 2.5.

Explain different types of economic activities.

Write the classification of wants.

State and explain the elasticity of supply.

Distinguish between explicit cost and implicit cost.

Distinguish between Price-Marker and Price-Taker?

Distinguish between rent and quasi-rent.

Explain about J.C. Kumarappa.

Explain about the Period of Merchant Capital.

Discuss the impact of LPG OIL Agricultural Sector reforms.

Find the equilibrium price and quantity by using the following demand and supply functions Q_d = 200 - 10P and Q_s= 10P respectively.

Compare and contrast various definitions of Economics.

Distinguish between Inductive and deductive method?

Explain the law of demand and its exceptions.

Describe the law of supply in details.

Relationship between TR, AR, MR and Elasticity of demand.

How price and output and determined under the perfect competition?

Explain the standard of Living Theory of Wages.

Explain various sources of energy.

Explain the objectives of nationalization of commercial banks.

What are the impact of LPG on agricultural sector reforms?

Analyse the causes for Rural Indebtedness.

Trace the development of Industry in Tamil Nadu.

Calculate the elasticity of demand for the demand schedule by using differential calculus method P = 60 - 0.2Q where price is (i) zero, (ii) Rs.20, (iii) Rs.40

Total cost of the goods produced by a firm is TC(Q) = 192 + 48Q + 4Q². Find the (i) Marginal cost, (ii) Average cost, (iii) Fixed cost, (iv) Average variable cost and (v) Average fixed cost.