Economics and Statistics Question Paper

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Introduction of one currency in the world
None of the above. d
1 mark each 2 .
Distinguish between any three of the following a Price competition and non-price competition . i i Returns to a factor and returns to scale . i i Income effect and substitution effect . ii v Pure monopoly and discriminating monopoly . i
3 marks each Re-write the following sentences after filling-in the blank spaces with appropriate b word s figure s Cross elasticity of demand is the change in the demand for one good in i response to a change in the of another good. i National income estimates in India are prepared by . i i Consumer equilibrium is a situation where a consumer secures ii satisfaction out of his expenditure. v All economic activities are guided by market forces in . i The relationship between inputs and outputs of a good may be expressed in v the form of a . i Between 1991-2001, the decadal growth of population was . v
1 mark each 3 .
Briefly comment on any five of the following Selling costs are an essential feature of monopolistic competition. i i Frictional unemployment is an inevitable result of technological progress. i i Demand curve can be drawn from the marginal utility curve. ii