The Institute of Cost and Works Accountants of India 2008 Certification CWA/ICWA Economics - Test - Question Paper

Time Allowed : three hours
Full Marks : 100

(Answer 5 ques. : All ques. are of Equal Value)
1. discuss How price is determined by a firm under perfect competition. Illustrate your
ans diagrammatically.

2. What is capital formation? elaborate the process involved in capital formation?

3. What is taxable capacity? elaborate its types? discuss the factors on which taxable
capacity depends.

4.What is the meaning of fiscal policy? discuss the objectives of fiscal policy

5. What is a Central Bank? explain the function of Central Bank?

6. explain the merits and demerits of indirect taxes.

Earning:   Approval pending.