IEcoS (Economic Services) Economics Paper-3: Questions 49 - 59 of 74

Access detailed explanations (illustrated with images and videos) to 74 questions. Access all new questions we will add tracking exam-pattern and syllabus changes. Subscription can be renewed yearly absolutely FREE! View Sample Explanation or View Features.

Rs. 300.00 or

How to register?

Question number: 49

» Environmental Economics » Environmentally Sustainable Development

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

What do you mean by environmental pollution? Evaluate different mechanisms to control environmental pollution.

Explanation

Environmental pollution is defined as the contamination of the physical and biological components of the earth/atmosphere system to such an extent that normal environmental processes are adversely affected.

Mechanisms to control environmental pollution:

  • Water prevention and control of pollution act, 1974 enacted to deal with water pollution

… (217 more words) …

Question number: 50

» Public Finance » Theory of Public Debt Management

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on Debt trap.

Explanation

Debt trap represents a situation without borrowing afresh or without rescheduling of the repayments obligations, the total indebtedness of the debtor country keep growing or at least it does not decrease.

  • A debt trap is a situation in which a borrower is led into a cycle of re-borrowing, or rolling over, their loan payments because they are u

… (64 more words) …

Question number: 51

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

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain the concept of equity in taxation. Analyze how ability to pay theory is useful in achieving it.

Explanation

The concept of equity in taxation refers to the social justice in the allocation of tax burden. Equity is identified with other general criteria such as fairness, justice, or avoidance of hardship, and linked with particular phenomenon such as distribution of income or property. There are two criteria of equity:

  • Horizontal equity implies that

… (313 more words) …

Question number: 52

» Industrial Economics » Product Differentiation and Market Concentration

Edit

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Write a short note on Types of product differentiation.

Explanation

Product differentiation is that the firms do not produce homogeneous products but differentiated one, which has close substitutes present in the market.

  • It is a very important feature of monopolistic competition and oligopoly.

  • Product differentiation is of two types: horizontal and vertical differentiation.

  • Horizontal differentiation

… (147 more words) …

Question number: 53

» Environmental Economics » Environmentally Sustainable Development

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain Schumpeterian concept of innovation.

Explanation

Schumpeter assumes a perfectly competitive economy, which is in stationary equilibrium. In such a stationary state, there is perfect competitive equilibrium: no profits, no interest rates, no savings, no investments, and no involuntary unemployment. This equilibrium is characterized by Schumpeter as “circular flow”.

  • In a circular flow, from w

… (412 more words) …

Question number: 54

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

Edit

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Write a short note on Environmental Accounting.

Explanation

Environmental accounting is considered as an important tool for understanding the role, which the natural environment plays in the economy.

  • Environmental accounts provides the data which will highlight the contribution of natural resources to economic well-being and the costs imposed by pollution or resource degradation.

  • Environmental acc

… (199 more words) …

Question number: 55

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

Edit

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Write a short note on option value and existence value.

Explanation

Option value refers to the possible use of resources in the future.

  • Environment has in store the possibility of using certain resources if not in the present but in the near future.

  • For example, the current researches takes place in the field of biotechnology and genetic engineering has been combining certain strains of different species

… (98 more words) …

Question number: 56

» Environmental Economics » Environmentally Sustainable Development

Edit

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 two parties, and third parties include any individual, organization, property owner, or resource that is affected indirectly.

  • Externalities are also referred to as spill over

… (51 more words) …

Question number: 57

» Public Finance » Budgetary Deficits

Edit

Appeared in Year: 2018

Essay Question▾

Describe in Detail

Discuss the merits and demerits of recent ‘Demonetization Policy’ of India.

Explanation

Demonetization policy is the policy in which the currency is stripped off its status as legal tender. The old notes are pulled out from the circulation in the economy and introduce new notes to replace old notes.

The main objective of the policy is that black money is finished from the economy as well as the tax evasion should reduce.

Merits o

… (329 more words) …

Question number: 58

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

Edit

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Write a short note on optimal taxation.

Explanation

Optimal taxation depends upon the trade off between efficiency and fairness. A fair tax is one that guarantees a socially desirable distribution of tax burden; an efficient tax is one with a small excess burden.

  • A fair tax is often the one that imposes equal liabilities on people that have the same ability to pay, whereas an efficient tax sys

… (40 more words) …

Question number: 59

» Industrial Economics » Entry Preventing Pricing

Edit

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Explain the Wage-Goods strategy of development formulated by C. N. Vakil and P. R. Brahmanand and critically examine the same.

Explanation

  • The model is an alternative to the Mahalanobis model; the model has adapted and modified classical growth theory of income and employment in the context of disguised unemployment of the developing countries.

    • It has emphasized the role of fixed capital; they laid stress on wage goods or liquid capital in determining the growth of income and

… (632 more words) …