University of Delhi 2007 Post Graduate Diploma Journalism (Oriya) Economics 1 - Question Paper

Economics paper 1

(Economic systems and micro economic theory)

Attempt any 5 ques. in all, selecting at lowest 2 ques. from every part.

All ques. carry equal marks.

part A

1. (a) What is mixed economy? Is Indian economy a mixed economy? discuss your ans
10
(b) How does a mixed economy solve its central problems? 10

2. What do you understand by the term ‘mode of production’? Bring out clearly the features of capitalist mode of production. 6,14

3. Distinguish ranging from national income and national capital. discuss the measurement of national capital. elaborate the issues in estimating national capital? 20

4. Explain the relationship ranging from occupational structure and economic development. explain and comment on the modifications in the Indian occupational distribution in the last 50 years? 20


5. (a) explain the causes of inequality in the incomes in an economy. discuss the different fiscal measures adopted in a capitalist economy to decrease the inequalities.
(b) discuss the use of Lorenz curve in measuring inequality. 14,6

part B

6. Distinguish ranging from price elasticity of demand and cross price elasticity of demand. compute the elasticity coefficient in the subsequent case :

At Rs. 46 per unit cost the demand for a commodity is 30 units. If price increases from Rs. 46 to Rs. 50 per unit, the demand reduces from 30 units to 15 units. 10, 10

7. (a) discuss the properties of an indifference curve.
(b) discuss the equilibrium of a consumer with the help of indifference curves. Use diagrams. 8, 12


8. What is the difference ranging from perfect competition and imperfect competition? Show the equilibrium of the firm under condition of imperfect competition in short and long run. Use diagram. 5, 15

9. explain critically in detail the marginal productivity theory of distribution. 20

10 Write short notes on any 2 of the following:

(i) transfer earnings and economic rent;
(ii) returns to a factor and returns to a sale;
(iii) The comparative cost theory of international trade. 20

Earning:   Approval pending.