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That an enterprise must behave as a good citizen is an example of its responsibilities towards

(a) Owners

(b) Workers

(c) Consumers

(d) Community

The Union government has engaged which private sector bank to enable cashless payments on e-NAM?

Gas responsible for global warming is

Suppose a consumer can afford to buy 6 units of good 1 and 8 units of good 2 if she spends her entire income. The prices of two goods are Rs 6 and Rs 8 respectively. How much is the consumer’s income?

Define ‘production function’.

Opportunity costs are ___

What was the average life expectancy in India during the British colonial rule?

Which of the following do you think are inevitable aspects of poverty?

A 15 per cent rise in the price of a commodity raises its supply from 300 units to 345 units. Calculate its price elasticity of supply.

The economizing problem involves the allocation of resources among competing wants. There is an economizing problem because there are:

Which of the following gases does not trap heat?

Trade facilitation involves:

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Explain "perfect knowledge about the markets" feature of perfect competition.

OR

Why are the firms said to be interdependent in an oligopoly market? Explain.

Discuss the central problems of an economy.

Suppose the demand and supply curves of a commodity 'X' in a perfectly competitive market are given by:
Qd = 700 - p
Qs = 500 + 3p, for p $\ge$ 15
= 0, for 0 < p < 15
Find the equilibrium price and equilibrium quantity.

Rig Veda has also emphasized on the importance of Panch Tatva (five elements) namely Prithivi (earth), Pavan (air), Jal (water), Tej (solar energy), and Nabh (sky) and has maintained that the entire life systems on earth are based on harmonious functioning of these five elements. Therefore, sustainable use of these natural elements has been consistently advocated in all ancient Indian Scriptures like the Rig Veda, Manu Smriti, Yagyavalkya Smriti, etc. It has, time and again, been emphasized in these scriptures that man should use these heavenly gifts in such a way that no long-term damage is caused to them. The energies and benefits derived proportionately from these five elements will only sustain life and preserve mother earth. Any disproportionate exploitation of these energies will cause pollution and will promote selfishness, instincts of violence, jealousy—inimical to development. And this is precisely what has happened during the last hundred years and has disturbed the natural equilibrium.

My views on this issue were further inspired by Mahatma Gandhi's concept of trusteeship which was basically propounded in the colonial context. This concept exhorted the rich to use their wealth only for fulfilling the right to an honourable livelihood no better than that enjoyed by millions of others. The rest of the wealth should belong to the community and must be used for the welfare of the community. To apply the concept of trusteeship in the context of climate change. I firmly believe that our present generation should act as trustees for the wealth of nature and should use it only in a sustainable way so that it can also be enjoyed by many generations to come. Mahatma Gandhi was absolutely right when he said that everything belonged to God and was from God and hence no individual is entitled to more than his proportionate portion and therefore he became a trustee of the rest of proportion for God's people. Unfortunately, the reckless destruction of ecological harmony has heightened the responsibility of our generation and specially those living in the developed world to act as trustees in the real sense of the term for future generations. Therefore ethics, and equity in my view are at the core of debate on climate change

Q35. The following behaviour of a wealthy person would be inconsistent with the principle of trusteeship.

1. The wealthy person makes a 12-storey building for use of his own family of five persons.

2. The wealthy person maintains armed security ring around himself and family members on receipt of a threat from mafia elements

3. The wealthy person often entertains business clients in five-star hotels.

4. The wealthy person gets furnished a diamond-studded bathroom at a cost of 15 crores.

Elements like air, water, land, rocks and sunlight are ___.

What was the reason for low productivity in agriculture sector at the eve of independence?

Mention steps taken by the business to adopt fair trade practices.

Using demand and supply curves, show how an increase in the price of shoes affects the price of a pair of socks and the number of pairs of socks bought and sold.

The AR curve of a monopoly firm is the same as the _____.

a) Apply the geometric method to determine the elasticity of supply at point L on the supply curve SS given above.

b) Justify the statement, ‘In economics, normal profits are always a part of total cost’.

There are 3 paths to reach the school. Path 2 takes more time than the Path 1 and Path 3. Also, Path 1 is faster than Path 3. Which of the following graph is correct for the given information?

Economies and diseconomies of scale explain why the:

Which of the following is a source of human capital formation?

Suppose
the price elasticity of demand for a good is −0.2. If there is
a 5% increase in the price of the good, then by what percentage will
the demand for the good go down?

Compare
the effect of shift in the demand curve on the equilibrium when the
number of firms in the market is fixed with the situation when
entry-exit is permitted.

How is the demand for a good affected by a rise in the prices of other goods? Explain.

Explain the effect of a simultaneous decrease in both demand and supply on equilibrium price and quantity.

Find the maximum profit position of producer by comparing TC and TR on the basis of the following data:

$\begin{array}{ccc}\text{Output(in Units)}& \text{AR (Rs.)}& \text{AC (Rs.)}\\ 1& 12& 7\\ 2& 11& 9\\ 3& 10& 10\\ 4& 9& 11\\ 5& 8& 12\end{array}$