SAMPLE QUESTIONS BASED ON REVISED PATTERN OF CS(P) EXAMINATION EFFECTIVE FROM 2011 The syllabus and pattern of Civil Services (Preliminary) Examination (CS(P)) has undergone significant changes with effect from 2011. These changes have already been intimated to the public vide Press Note on 22nd October‚ 2010‚ which is available on UPSC website. The Commission had also indicated in the Press Note that a set of sample questions for both the papers would be put up on the UPSC website‚ in due course
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IB Economics: Practice Internal Assessment The article “Chinese Dragon bites Local manufacture as Importers laughs last” stated that the imported products‚ majorly from China have became a threat to the local economy in Uganda. The Ugandan government have taken measure ease production on local traders by scrapping the pre-inspection fees and planning to construct industrial parks to lower the hiking cost of production of local products. Chinese products are cheaper and more competitive comparing
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A market failure occurs when the allocation of good is not efficient. The externality is present if an economic activity (production or consumption) imposes costs on‚ or creates benefits for‚ third parties. If they impose costs on third parties they are considered negative externalities. Negative externality is a type of market failure. The government in London decided to impose tax on hauliers who use trucks that heavily polluted the environment. This is a negative externality since pollutions would
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FIELD EXPERIMENTS IN ECONOMICS By: Ravisha Sodha INTRODUCTION: Field experiments occupy an important middle ground between laboratory experiments and naturally occurring field data. The underlying idea behind most field experiments is to make use of randomization in an environment that captures important characteristics of the real world. Distinct from traditional empirical economics‚ field experiments provide an advantage by permitting the researcher to create exogenous variation in the variables
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Economics and Managerial Economics Economics may be defined as a branch of knowledge dealing with allocation of scarce resources among competing ends. Managerial Economics may be defined as application of eco for problem solving at corporate level. Factors affecting Managerial decision Often only pure logic does not contribute to decision making Human Factor Human behavioral considerations often influences a manager into compromising or moderation a decision which would otherwise have made
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1. What do you understand by Managerial Economics? Give Definition and meaning of Managerial Economics. Economics is the branch of Knowledge that deals with how the scarce resources can be used to produce valuable goods and services and distribute them efficiently among different classes of people in the society. What is Managerial Economics? Douglas - “Managerial economics is the application of economic principles and methodologies to the decision-making process within the firm or organization
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What is Economics? Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction‚ studying it often reveals why people and governments behave in particular ways. There are two main types of economics: macroeconomics and microeconomics. Microeconomics focuses on the actions
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ECONOMICS CHAPTER 1 ECONOMIC WAY OF THINKING SCARE RESOURCES WEALTH OF THE NATIONS ECONOMICS: ADAM SMITH STAR CITY Scarcity Scarcity is the basic and central economic problem confronting every society. It is the heart of the study of economics and the reason behind its establishment. Authors have defined scarcity in various way some if which are complexly stated. One author defines scarcity as a commodity or service being in short supply‚ relatives to its demand (Kapur
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DEPENDENCY THEORY: - Economic development theorists over the last few centuries have developed models for explaining the “undeveloped-ness” of countries in the third world countries. From Durkheim to the International Monetary Fund (IMF)‚ we have‚ time after time‚ come to witness the rise and fall of development theories and their explanations for the predicament that many poor countries face. Dependency theory has (more so than others) lasted a great deal of time in the framework of the international
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Investment within a country can be seen as a vital component in terms of promoting economic prosperity. This essay is going to outline the importance of investment in terms of current and future economic activity by examining the effect of investment on growth and employment. The importance of the ability of the South African government to differentiate between private and public investment will be addressed by the use of a graph illustrating the investment rates of the private and public sectors
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