IEcoS (Economic Services) Economics Paper-3: Questions 30 - 39 of 74

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Question number: 30

» Environmental Economics » UN Methodology of Integrated Environmental and Economic Accounting

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain the methodology of Integrated Environmental and Economic Accounting.

Explanation

  • The Central Framework covers measurement in three main areas:

    • Environmental flows. The flows of natural inputs, products and residuals between the environment and the economy, and within the economy, both in physical and monetary terms.

    • Stocks of environmental assets. The stocks of individual assets, such as water or energy assets, and

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Question number: 31

» Environmental Economics » Valuation Methods » Stated and Revealed Preference Methods

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on Negative externalities.

Explanation

A negative externality is a cost that is suffered by a third party as a result of an economic transaction.

  • In a transaction, the producer and consumer are the first and second parties, and third parties include any individual, organization, property owner, or resource that is indirectly affected.

  • Externalities are also referred to as spil

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Question number: 32

» Public Finance » Theories of Taxation » Optimal Taxes and Tax Reforms

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Appeared in Year: 2011

Essay Question▾

Describe in Detail

Write a short note on Laffer curve.

Explanation

Laffer curve is an illustration of the thesis that there exists some optimal tax rate which maximizes government tax revenues.

  • The thesis may be expressed in terms of personal or corporate taxes and it proposes that taxes above the optimal rate discourage production and hence result in lower revenues.

  • In other words, if higher income taxe

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Question number: 33

» Industrial Economics » Market Structure

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on economies of scale.

Explanation

Economies of scale are cost advantages reaped by companies when production becomes efficient.

  • Companies can achieve economies of scale by increasing production and lowering costs. This happens because costs are spread over a larger number of goods.

  • Economies of scale are the competitive advantage that large entities have over smaller ones

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Question number: 34

» State, Market and Planning » Planning in a Developing Economy

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Appeared in Year: 2011

Essay Question▾

Describe in Detail

Write a short note on Hedonic prices and values.

Explanation

  • Hedonic pricing is a model, which identifies price factors, according to the premise that price is determined both by internal characteristics of the good being sold and external factors affecting it.

    • A hedonic pricing model is often used to estimate quantitative values for environmental or ecosystem services that directly impact market pri

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Question number: 35

» Environmental Economics » UN Methodology of Integrated Environmental and Economic Accounting

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Appeared in Year: 2011

Essay Question▾

Describe in Detail

Explain salient differences between the Conventional National Accounting System and the Integrated Environmental and Economic Accounting System.

Explanation

  • The Integrated Environmental and Economic Accounting adopt slightly different terminology in relation to environmental assets compared to the Conventional National Accounting System.

    • In the Conventional National Accounting System, the term “Natural Resources” is used to cover natural biological resources (e. g. timber and aquatic resources)

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Question number: 36

» Industrial Economics » Market Structure

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Appeared in Year: 2011

Essay Question▾

Describe in Detail

Write a short note on S-C-P Paradigm.

Explanation

This approach is used to study firm’s behavior. We can discuss S-C-P Paradigm as follows:

  • Market Structure: It is identified on the basis of intensity or degree of competition between buyers and sellers. Its main features are:

    • Seller’s concentration: it means number and size distribution of sellers in the market. For example in case of mo

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Question number: 37

» Industrial Economics » Conduct and Performance of Firms

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain Alfred Weber’s theory of industrial location.

Explanation

  • The basis of his theory is the study of general factors which pull an industry towards different geographical regions. It is thus deductive in approach. In his theory he has taken into consideration factors that decide the actual setting up of an industry in a particular area.

    • Weber’s Problems: Weber was faced with many serious problems.

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Question number: 38

» Industrial Economics » Monopolistic Price Theory, Oligopolistic Interdependence and Pricing

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Analyze how price and output are determined under monopolistic competition.

Explanation

In a monopolistic competition, since the product is differentiated between firms, each firm does not have a perfectly elastic demand for its products.

  • In such a market, all firms determine the price of their own products.

  • Therefore, it faces a downward sloping demand curve. Overall, we can say that the elasticity of demand increases as th

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Question number: 39

» Public Finance » Theories of Taxation » Incidence of Taxation

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

What do you mean by tax incidence? Analyze how is it determined under the modern theory of incidence of taxation?

Explanation

  • Tax incidence is defined as its final resting place. It is to be seen and judged in terms of the money burden.

    • Thus, the incidence of a tax is upon that economic unit which finally bear the money burden of it and which are not able to pass it on to others.

    • The modern economists like Dalton were of the view that the shifting of taxation

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