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If ∪ = {2, 4, 6, 8, 10, 12, 14, 17}

A = {1, 4, 6, 9, 11, 12}

The set A^C is

In which instance can we observe a rise in the equilibrium price accompanied by a decline in the equilibrium quantity?

A statistical study has yielded the result that a certain section of the society remains poor because the children of school going age are doing manual labour. Hence, when they become adults of this community they would not have the sufficient knowledge and skills to get high paying jobs. As an economist, what policy would you recommend for this situation?

How can development of human resource take place?

Unemployment leads to which of the following:

The demand curve for a perfectly competitive market is ______.

A firm in monopolistic competition advertised its product. What will be the impact of the advertisement?

If a fall in the price by 25 percent leads to a rise in demand by only 10 percent leads, the situation is called a/an

Standard of living of a country can be raised if it increases

Study the MC and MR curves for a monopoly firm given in the following figure. Calculate the maximum profit assuming that fixed costs are negligible. (All prices and costs are in rupees)

Which of the following is true about the building of the Indian railways?

Which of these states leads in literacy and healthcare?

Diminishing marginal returns implies:

State and discuss any two factors that will shift the Production Possibility Frontier (PPF)to the right.

Or

Draft a hypothetical schedule for a straight line Production Possibility Curve.

Explain the effects of ‘increase’ in supply of a good on its equilibrium and equilibrium quantity. Use diagram.

OR

Explain the effects of ‘increase’ in supply of a good on its equilibrium price and equilibrium quantity with the help of a schedule.

A photo cell is receiving light from a source placed at a distance of 1 m. If the same source is to be placed at a distance of 2 m, then the ejected electron

Human capital can be increased by incurring expenditure on:

In the BOT model of PPP, what does BOT stand for?

Do you agree with the view point that small scale business can survive in a competitive market ? Give reasons to support your answer.

LMN Ltd. is filing its income tax returns on time. They are also updating their shareholders about their projects and provide for return to them. Towards which interest group are they fulfilling their responsibility? Which values are being followed by the company?

The price of petrol increases by 22% and the sale falls by 25% indicating that demand for petrol is:

Law of demand must fail in case of:

Explain the law of variable proportions with the help of total product and marginal product curves.

In a cricket tournment, 16 school teams participated. A sum of Rs. 8000 is to be awarded among themselves as prize money. If the last place team is awarded Rs. 275 in prize money and the awarded increases by te same amount for successive finishing places, then how much amount will the first place team received? What value is shown in this question?

Explain how technological progress is a determinant of supply of goods by a firm.

How is Total Product derived from Marginal Product?

Give two examples of monopolistically competitive markets.

In a perfectly competitive market, the buyers treat products of all the firms as homogeneous. Explain the significance of this feature.

What are advertising costs?

Explain how the market price of a good is determined using a diagram.

Study the supply curve given below and answer the following question.

For the supplier, when the marginal cost of producing a unit is $2, his profit is maximized. What will be his total revenue?

What do you mean by the budget set of a consumer?

What is market demand for a good? Name the factors that determine market demand.

Give three reasons (or causes) of a leftward shift of demand curve.

Or

Explain briefly any three factors which lead to 'decrease in demand'.

If the price of a good decreases while the quantity of the good exchanged on markets increases, then the most likely explanation is that there has been

dummy - If the demand for bread is ___________, a decrease in its price will lead to a fall in consumers’ total expenditure on bread.

(1) unitary elastic

(2)perfectly inelastic

(3) elastic

(4) inelastic

The quantity supplied of a commodity at a price of Rs 8 per unit is 400 units. Its price elasticity of supply is 2. Calculate the price at which its quantity supplied will be 600 units.

The predecessor to WTO was:

Q5. Consider the following statements about Trade facilitation agreement in services (TFS):

1. The TFS proposal aims at liberalising rules for movement of professionals and other steps to reduce transaction costs with a view to boost growth of the services sector.

2. It will focus on issues like liberalised visa regime, long-term visas for business community.

Select the correct answer using the codes given:

A game of strategy, as currently conceived in game theory, is a situation in which two or more “players” make choices among available alternatives (moves). The totality of choices determines the outcomes of the game, and it is assumed that the rank order of preferences for the outcomes is different for different players. Thus the “interests” of the players are generally in conflict. Whether these interests are diametrically opposed or only partially opposed depends on the type of game.

Psychologically, most interesting situations arise when the interests of the players are partly coincident and partly opposed, because then one can postulate not only a conflict among the players but also inner conflicts within the players. Each is torn between a tendency to cooperate, so as to promote the common interests, and a tendency to compete, so as to enhance his own individual interests.

Internal conflicts are always psychologically interesting. What we vaguely call “interesting” psychology is in very great measure the psychology of inner conflict. Inner conflict is also held to be an important component of serious literature as distinguished from less serious genres. The classical tragedy, as well as the serious novel, reveals the inner conflict of central figures. The superficial adventure story, on the other hand, depicts only external conflict; that is, the threats to the person with whom the reader (or viewer) identifies stem in these stories exclusively from external obstacles and from the adversaries who create them. On the most primitive level this sort of external conflict is psychologically empty. In the fisticuffs between the protagonists of good and evil, no psychological problems are involved or, at any rate, none are depicted in juvenile representations of conflict.

The detective story, the “adult” analogue of a juvenile adventure tale, has at times been described as a glorification of intellectualized conflict. However, a great deal of the interest in the plots of these stories is sustained by withholding the unravelling of a solution to a problem. The effort of solving the problem is in itself not a conflict if the adversary (the unknown criminal) remains passive, like Nature, whose secrets the scientist supposedly unravels by deduction. If the adversary actively puts obstacles in the detective’s path towards the solution, there is genuine conflict. But the conflict is psychologically interesting only to the extent that it contains irrational components such as a tactical error on the criminal’s part or the detective’s insight into some psychological quirk of the criminal or something of this sort. Conflict conducted in a perfectly rational manner is psychologically no more interesting than a standard Western. For example, Tic-tac-toe, played perfectly by both players, is completely devoid of psychological interest. Chess may be psychologically interesting but only to the extent that it is played not quite rationally. Played completely rationally, chess would not be different from Tic-tac-toe.

In short, a pure conflict of interest (what is called a zero-sum game) although it offers a wealth of interesting conceptual problems, is not interesting psychologically, except to the extent that its conduct departs from rational norms.

Q. Which, according to the author, would qualify as interesting psychology?

Role of human capital formation in economic growth is given by:

A country that has an abundance of cheap labor will tend to

The supply curve of rare collectables will be?

A consumer consumes only two goods. For the consumer to be in equilibrium why must Marginal Rate of Substitution between the two goods must be equal to the ratio of prices of these two goods? Is it enough to ensure equilibrium?

OR

A consumer consumes only two goods. Why is the consumer said to be in equilibrium when he buys only that combination of the two goods which lies at that point on the Indifference curve where the budget line is tangent to the indifference curve? Explain. Use diagram.

Why does the role of government in providing healthcare remain important?

What led the author to believe that the Russians had not achieved their production goals?

Which of the following states was one of the leading states in the Green Revolution?

The supply curve of a firm is given by the equation $q=250p-250$. If the price decreases by 2 units, ______

Define market equilibrium.