#12 UGC NET/JRF PRACTICE QUESTION ECONOMICS

Anurag Educational Academy

This video contain questions and their answers on the basis of UGC NET/JRF (Economics) Syllabus as well as brief discussion about the following important topics:

👉Good Substitute- Indifference Curve Shape- Approach to a straight line

👉Modern Firms Uses Reserve Capacity to ensure Greater flexibility in operations

👉Average Cost Pricing Principle-
    ✔which is developed by many eminent economists-Hall&Hitch, R. Barback, H. R. Edwards,P.W.S. Andrews...
   ✔Opt "Price leadership" to protect from the threat of Potential entry and Potential entrant or Potential Competition
  ✔Note- we will discuss all these theories and models incoming sessions like,
1. Average Cost Pricing Principle
2. Bain's Limit pricing model
3. Sylos-Labini Model
4. Franco-Modigliani Model
5. Bhagwati Model
6. Pashigian Model.....

👉Social Choice Theory or General Possibility Theorem or Arrow's impossibility Theorem- Kenneth Arrow- 1951

👉Elasticity of Demand for the "rectangular hyperbole" shape of demand curve- unitary elastic or Ed=1
  ✔Perfect Elasticity(Ed=infinity)
  ✔Perfect Inelastic (Ed=0)
  ✔Elastic or More than Unitary elastic(Ed 'Greater than 1')
  ✔Inelastic or Less than Unitary elastic (Ed 'less than 1')

👉We have discussed a wonderful numerical in this session which is based on "Shifting of IS curve ".

👉"Restatement of Quantity Theory of Money" by Milton Friedman- 1956
   ✔Emphasis on Demand for Money

👉Concept of Multiplier:
   ✔F.A. Kahn's Multiplier or Employment Multiplier
   ✔J.M. Keynes's Multiplier or income Multiplier and Investment Multiplier

👉Sustainable Development:
    ✔Brundtland Commission-1987
    ✔'Our Common Future'
    ✔"The needs of the present generation without compromising the needs of the future generation."

👉Sen's Poverty Index:
   ✔1976
   ✔include- Poverty gap ratio, Head count ratio, Gini Coefficient(The distribution of Income)


Playlist Link: "Only 10 Question"Series


Thankyou...
Anurag Educational Academy