Reg. No. :... Sub. Code : RNEC 3 A U.G. (CBCS) DEGREE EXAMINATION, APRIL 2014. Third Semester Economics Non-Major Elective ECONOMICS FOR COMPETITIVE EXAMINATIONS (For those who joined in July 2008 and 2009) Time : Three hours Maximum : 75 marks PART A (10 1 = 10 marks) Choose the correct answer : Answer ALL questions. 1. ö õ Î ¼À v GßÓ P zx CuøÚU SÔUS (A) ÛÀ uøá (B) õøó v (C) õøö v (D) v AÍÂkÁx. The terms value is used in economics in the sense of value in use exchange value transfer value measuring value.
2. J ö õ Îß Âø»ø, nzvà öáî kzvúõà, Ax CÆÁõÖ AøÇUP k (A) v Page 2 (B) Á Áõ (C) Á õú (D) ö\»ä. When the price of a commodity is expressed in terms of money, it is called Value Income Salary Expenditure. 3. Âv»US uøá ÁøÍ Põk (A) RÌ õuq \ x ö\ྠ(B) ö\[szxu Põk (C) (D) À õuq \ x ö\ྠkqøhu Põk. An exceptional demand curve is one that slopes downwards from left to right vertical straight line upwards from left to right horizontal straight line. 4. uøá Âv CuÚi øh À Aø xòíx (A) SøÓ x ö\à CÖv {ø» ß õmk Âv (B) ~Pº Áõº Ga\ (C) ö õzu ß õk (D) ~Pº Áõµx Â.
The law of demand is based on the law of dimishing marginal utility consumer's surplus marginal utility consumer's preference. 5. ö\õzvß J Sv õú»uú ¾ CuØS ß k (A)»uÚ (B) EØ zv (C) ~PºÄ (D) QºÄ. Capital is that part of wealth which can be used for further capital production consumption distribution. 6. T¼ CuÝøh \øáus ÁÇ[P k (A) {» (B) EøÇ õî (C)»uÚ (D) öuõè»ø. Wages are the payments paid for the services of land labour capital organisation. Page 3
7. {øóä õmi {Ö [PÒ (A) Âø» uk ÁºPÒ (B) Âø» {ºn ÁºPÒ (C) (D) Âø» u[põmk ÁºPÒ Âø» Gk ÁºPÒ. Perfect competitive firms are Price searchers price makers price discriminators price takers. 8. ØÖ ø À, MR ÁøÍ Põk (A) J ö\[szxu Põk (B) AR ÁøÍ PõmiØS RÌ C US (C) (D) AR ÁøÍ PõmiØS À C US J kqøhu Põk. Page 4
In monopoly, the MR curve coincides with AR curve lies below AR curve lies above AR curve is a horizonatal line. 9. u½k ØöPõÍÀ, CuøÚ ØÔ x (A) õxpõ (B) }ºø (C) (D) C»õ ØTÔ AøÚzx. The decisions of investment deals with safety liquidity profitability all the above. Page 5
10. Põ k, CuøÚ õxpõ uøpõp (A) Chº (B) EÖv ßø (C) (D) {v CÇ ØTÔ AøÚzx. Insurance is protection against risk uncertainty financial loss all the above. PART B (5 5 = 25 marks) Answer ALL questions, choosing either or in about 250 words each. 11. (A) C»Á\ ØÖ ö\àá sh[pøí Euµõn[PÐhß ÂÍUSP. Explain 'Free Goods' matter of 'Economics Good' with examples. Page 6
(B) CÖv {ø» Á Áõ Gß x õx? GkzxUPõmk u P. What is 'Marginal Revenue'? Give example. 12. (A) uøá Âv À Põq Âv»USPøÍU TÖP. State the exceptions to the Law of demand. (B) J ~Pº Áõº G ö õêx \ {ø» AøhÁõº? When does a consumer attain equilibrium? 13. (A) "Áõµ ' GßÓ P zvøú J Euõµnzxhß ÂÍUSP. Explain the concept 'Rent' with an illustration. (B) "T¼' GßÓõÀ GßÚ? What is 'Wage'? 14. (A) ØÖ ø uõßöáuøpõú Põµn[PøÍU SÔ kp. Mention the factors responsible for the emergence of monopoly. Page 7
(B) ØÖ ø ÚõÀ HØ k wø PøÍ mi ¼kP. List down the evils of monopoly. 15. (A) IDBI ØÔ J SÔ ÁøµP. Write a note on IDBI. (B) SEBI &Cß opøíz öuõszxu TÖP. Summarise the functions of SEBI. PART C (5 8 = 40 marks) Answer ALL questions, choosing either or in about 600 words each. 16. (A) {øósøó õmi À \µõ\ Á Áõ ØÖ CÖv{ø» Á Áõ U PõkPÎß Aø øú ÂÍUSP. Describe the nature of average revenue and marginal revenue curves under imperfect competition. Page 8
(B) {øóä õmi À \µõ\ Á Áõ ØÖ CÖv{ø» Á Áõ U PõkPÎß Aø øú ÂÍUSP. Explain the nature of average revenue and marginal revenue curves under imperfect competition. 17. (A) uøá Âvø vóúõ Ä ö\ x v kp. Critically evaluate the law of demand. (B) J uøáu Põk Hß RÌ õuq \ x ö\àqóx? Why does a demand curve slope downwards? 18. (A) õö ÂQuõa\õµ Âvø Áøµ h Eu²hß ÂÁõvUP. Discuss the law of variables proportions with the help of a diagram. (B) EøÇ ß vóøú {ºn US PõµoPøÍ ÂÍUSP. Explain the factors determining efficiency of labour. Page 9
19. (A) {øósøó õmi ß C À PøÍ ÂÁ UP. Describe the features of imperfect competition. (B) ØÖ ø ß C À PøÍ ÂÍUSP. Explain the features of monopoly. 20. (A) Á[Q øá PÎß À ÁÖ ÁøPPøÍ ÂÍUSP. Explain the various types of bank deposits. (B) C À ö\õzvß ( À Gì hm) uø õøu v øú {ºn US PõµoPøÍ ÂÁ UP. Describe the factors determining the present value of real estate. Page 10