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INDIANINSTITUTIONOFINDUSTRIALENGINEERING

GRADUATESHIPEXAMINATION
SectionA

February2013
Time:3hrs

Max.Marks:100
IEA08ECONOMICS&INDIANECONOMICENVIRONMENT
Note:AnsweranyfiveQuestions.

Q.1a)DefineandexplainLawofdiminishingmarginalutility?

[10Marks]

Q1.b)DefineandexplaintheLawofDemand?

[10Marks]

Q.2 Define economic development? What are the various indicators of development? How
developmentdiffersfromtheprocessofgrowth?

[20Marks]

Q.3a)Explainthefollowingtypesofmarkets:
Monopoly,PerfectCompetition

[10Marks]
Q3.b)CommentonEffectofpopulationoneconomicgrowthofIndia.
[10Marks]

Q.4ExplaintheroleplayedbyPublicandPrivatesectorinIndianIndustrialdevelopment?How
GovernmentdoespromotessmallandmediumscaleindustriesinIndia?
[20Marks]

Q.5 Explain the significance of agriculture sector for the economic development of India?
Suggesttheguidelinesthroughwhichfurthergrowthofagriculturesectormaybeachieved?

[20Marks]

Q.6DefineValue,Price,Cost,Wealth,Wants,Needs,Scarcityandgiveexamplesofeach?

[20Marks]

Q.7Writeshortnoteson:

[20Marks]
a)InfrastructureinIndia
b)ProblemofUnemploymentinIndia
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