1(ADS)3

General Economics

[III-C]

Time Allowed: 3 Hours                                               Max. Marks: 100                  

Instructions:

1. Answers must be written in English.
2. The number of marks carried by each question is indicated at the end of the question.
3. The answer to each question or part thereof should begin on a fresh page.
4. Your answer should be precise and coherent.
5. The part/parts of the same question must be answered together and should not be interposed between answers to other questions.
6. Candidates should attempt any five questions.
7. If you encounter any typographical error, please read it as it appears in the textbook.
8. Candidates are in their own interest advised to go through the General Instructions on the back side of the title page of the Answer Script for strict adherence.
9. No continuation sheets shall be provided to any candidate under any circumstances.
10. Candidates shall put a cross (X) on blank pages of the Answer Script.
11. No blank page should be left in between answers to various questions.
12. No programmable calculator is allowed.
13. No stencil (with different markings) is allowed.

Q1. Evaluate the various forms of marketing organizations and their pricing strategies. Compare and contrast perfect competition, monopoly, monopolistic competition, and oligopoly.
[20 Marks]

Q2. Examine the impact of technological advancements on the laws of returns and the theory of production. How has technology influenced modern production processes?
[20 Marks]

Q3. Explain the theory of production. How does the production function relate to the input-output relationship in an economy? [20 Marks]

Q4. Analyze the theory of rent. Compare and contrast the Ricardian theory of rent with the modern theory of rent.
[20 Marks]

Q5. Compare and contrast the classical and neo-classical approaches to welfare economics. What are the key differences in their assumptions and conclusions?
[20 Marks]

Q6. How does population growth influence economic development, and what are the potential benefits and challenges? [20 Marks]

Q7. What are the common problems faced by developing economies, and what strategies can be employed to address them? [20 Marks]

Q8. How has planning evolved in India from its early stages to the present day? Discuss key milestones and changes in the planning process. [20 Marks]