What is consumer surplus? State the relationship between consumer surplus, compensating variation and equivalent variation.

Explain the properties of preferences with example.

Do you think that Walrasian equilibrium is Pareto optimal? Give reasons and proof in support of your answer.

Distinguish between price elasticity of demand and income elasticity of demand. Given Q=700-2P+0.02y Where P = 25, and y = 500

Find out (i) the price elasticity of demand and
 (ii) Income elasticity of demand.

Given the profit function

= 160x -3x2 - 2xy-2y2 +120y-18 for a firm producing two goods x and y

Find out (i) the maximizing profits
 (ii) test the second order condition.

Given the total cost function

TC=Q ³ -5Q² +60 Q

Find (i) The Average cost function (ii) The critical value at which AC is minimized (iii) The Marginal Cost

What do you mean by ‘Cost minimisation’. Explain the various approaches of cost minimisation, Give illustration in support of your answer.

What is utility function? Distinguish between direct utility function and indirect utility function. State the mathematical expressions of utility function of perfect substitutes and perfect compliments.

Explain the term Budget constraint? If the income of the consumer increases and one of the prices of the commodity decreases at the same time, will the consumer necessarily be at least as well off? Illustrate with diagram.

Land Lease Market.

Export Led Growth.

Exchange Rate Stability.

Primary, Secondary and Terminal Markets.

COR and ICOR.

FDI and FII.

Present a profile of the important services exported by India.

Describe the changes in the SSI sector in the MSMED Act of 2006.

Outline the FDI policy pursued by India over different time periods

Discuss the trend in the performance of India’s External Sector during the period 2019- 20.

Explain the transformation of Indian agriculture from its traditional to the modern phase during the 1960s to 1990s.