List of top Economics Questions

What are the central problems of an economy in relation to scarce resources?
What are the features of perfect competition?
Explain the three types of budget.
The market price of a good increases from Rs. 10 to Rs. 25. Therefore, the quantity supplied by the firm increases from 15 to 20 units. Calculate the price elasticity of supply.
What is GDP deflator? Distinguish between Real GDP and Nominal GDP.
The situation where market supply equals market demand is called
A garment factory replaces 50 workers with some machines to reduce the costs of production. Which central problem of an economy is being added in the statement?
An individual unit who takes decisions relating to its own consumption is
Which of the following cost curve is a rectangular hyperbola?
The year in which J.M. Keynes published his book 'The General Theory of Employment, Interest and Money'.
The consumption that takes place when income is zero. It is called
When income increases, the budget line shifts towards
The point on which a firm earns only normal profit in the short run
Want satisfying capacity of a commodity
Goods that are used by producers as inputs
For a hypothetical economy, assuming there are only two firms (X and Y) with equal values of Gross Value Added (GVA). On the basis of the following data, estimate the values of Domestic Sales by firm X:
Calculate the value of ‘Rent’ from the following data:
Calculate National Income:
Compensation of employees = ₹500 crore
Rent = ₹100 crore
Interest = ₹150 crore
Profit = ₹250 crore
Mixed Income = ₹50 crore
Distinguish between change in quantity demanded and change in demand.
Explain the law of diminishing marginal utility with schedule.
Discuss the role of NITI Aayog in economic development of India.
Explain the causes and effects of inflation.
Explain the determination of equilibrium price with the help of a diagram.
Explain any two functions of Reserve Bank of India (RBI).
What are the objectives of government budget?