Economics– Important Questions Bank for Bihar Board BSEB 2016 Examination

Economics– Important Questions Bank for Bihar Board  BSEB 2016 Examination.

We had mentioned some tips for cracking the  BSEB Bihar Board exam here: HSC Study Tips to Crack HSC Exams.

We had also shared Important Questions Bank for HSC board Examination 2016 and students have really appreciated it and showered us with love last year.

Today, we are posting the Economics– Important Questions Bank for Bihar Board  BSEB 2016 Examination to make life easy for all you  BSEB students.

Without making you wait any further, please find the questions below:


  1. What is Micro Economics? Explain its characteristics .
  2. Explain the Marginal Rate of Substitution. Why is Indifference Curve convex to the origin?
  3. What do you mean by imbalance in balance of payments? Discuss its causes and types.
  4. What is law of demand? What are its assumptions?
  5. Explain Contraction and Extension of demand with the help of diagram.
  6. What is demand? Explain the determinants of demand.
  7. Explain the effects of following changes on the demand curve of a commodity ;
  8. What is Price Elasticity of Demand? How is it measured?
  9. What is the difference between Law of Demand and Elasticity of Demand?
  10. What are the factors affecting elasticity of demand?
  11. What are the different degrees of Price Elasticity of Demand?
  12. Explain the Law of Variable Proportion.
  13. Economics is both Positive and Normative science,
  14. Explain the difference between Laws of Returns and Returns to scale.
  15. What are the causes of the operation of the Law of Variable Proportions.
  16. Give a brief note of Law of Diminishing Return? Why does it operate?
  17. What is fixed cost? Explain the nature and shape of Total fixed cost and Average fixed cost.
  18. What is Production Cost? What is the difference between Explicit and Implicit cost?
  19. Explain the relationship between Average Cost Curve, Average Variable Cost and Marginal Cost
  20. Explain the Production Cost in long period.
  21. Explain the Average and Marginal Revenue Curves of a firm in Perfect Competition
  22. Explain the relationship between AR and MR with the help of examples.
  23. Why does Average Revenue Curve become demand curve?
  24. Explain the five central problems of an economy in brief.
  25. In which market condition MR can be zero or negative?
  26. What is firm’s equilibrium? Explain the necessary conditions of firm’s equilibrium.
  27. Explain firm’s equilibrium in perfect competition.
  28. Explain firm’s equilibrium in Non-Perfect Competition.
  29. Explain firm’s equilibrium with the help of Total Revence and Total Cost Curve method.
  30. Explain the factors affecting the supply of commodity.
  31. What is supply Schedule and ‘Supply Curve’? Explain with example and diagram.
  32. When and why there is a movement on supply curve? Explain.
  33. Explain Individual Supply Curve and Market Supply Curve with the help of diagrams.
  34. What is Elasticity of Supply? Explain two method of its measurement.
  35. What is the effect of change in resources and change in technique on Production Possibility
  36. Explain the role of time element in the determination of price in perfect competition.
  37. What is monopoly? What are its important characteristics.
  38. Throw light on any five differences between perfect competition, monopoly and monopolist
  39. What is perfect competition? Discuss its important characteristics
  40. What is equilibrium price? How is it determined? What is the meaning of excess of demand
  41. What are the causes of change in supply of commodity?
  42. When there is increase in demand, what will happen to equilibrium price under the following
  43. What are the important causes of change in demand?
  44. What is the application of demand and supply Curves in price determination of factor?
  45. What is the relation between Marginal Opportunity Cost and Production Possibility Curve?
  46. What is Rent? What are the three types of elasticity of supply of factor?
  47. Distinguish between micro and macro economics
  48. Discuss importance of macro economics.
  49. Explain features of the various sectors of a modern economy.
  50. Explain the importance of circular income flows.
  51. Explain the circular flow in a four sector economy.
  52. While calculating national income, what will you do with the following? Give reasons.
  53. Calculate GNPMP, private income and personal income from the following data.
  54. Explain different steps of calculation of national income by output/product method
  55. What is meant by the problem of double counting; explain
  56. Explain the difference between Market Economy and Controlled Economy.
  57. Explain expenditure method of calculation of national income
  58. What will happen to the following while calculating national income. Give reasons.
  59. What is barter system? Explain its disadvantages.
  60. Explain all the functions of money.
  61. Money is the pivot at which economic science rotates”. Explain.
  62. Explain the evils of money
  63. Discuss the importance of money
  64. Explain the brief primary functions of a commercial bank.
  65. What are the secondary functions of a commercial bank?
  66. What do you mean by credit creation explain with an imaginary example
  67. What is law of diminishing marginal utility? Explain its importance and limitations
  68. What is the role of commercial bank in the development of an economy.
  69. Discuss some methods of credit control by the central bank.
  70. Explain important function of a central bank
  71. Write about four to five difficulties in the way of credit control by the central bank.
  72. What is ‘bank rate’ ? How it helps to control credit?
  73. When was first narsimhan committee constituted? Discuss its recommendations in brief
  74. Why and when Goiporia Committee was constituted? What were its recommendations?
  75. What was the purpose of constituting of Verma Committee? When was it constituted?
  76. What reforms were brought in banking sector during 1992-2006?
  77. Explain Consumer’s Equilibrium with the help of Law of Equi-Marginal Utility.
  78. Explain the concept of aggregate demand? what are the characteristics of aggregate demand?
  79. What do you mean by aggregate supply? Explain with the help of suitable diagram.82. Explain with the help of suitable diagram the determination of income employment and output
  80. What is a consumption function can it be zero? Give reasons.
  81. What is Average Propensity to Consume? Explain with the help of table and diagram
  82. Explain the concept of MEC. How it is measured,
  83. Explain the difference between ex-ante saving and investment and ex-post saving and
  84. What are the main point of keynes’ theory of income and employment.
  85. How employment is determined by saving and investment?
  86. Explain consumer’s equilibrium with the help of Indifference Curve Analysis.
  87.  Define investment multiplier. How it is related with marginal propensity to consume?
  88.  Explain the forward and backward action of a multiplier.
  89.  Explain inflationary gap with the help of a suitable diagram. How it affects prices and
  90.  What do you mean by deflation? Does it affect price and output? Give reasons.
  91.  What is excess demand in an economy? How it can be controlled?
  92.  What is deficient demand? how it affects employment in the economy? How it is corrected?
  93.  Distinguish between balanced budget, surplus budget and deficit budget.
  94.  Explain with suitable examples progressive tax, proportional tax and regressive tax.
  95.  Explain the merits and demerits of a flexible exchange rate.99
  96.  What is an exchange rate? How it becomes favorable or unfavorable?

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