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Economics-2014: Answer Writing Challenge – 13


17 September 2014

Q1) For optimal allocation of resources which of the options market forces, planning exercise or a combination of both should be suitable for the third world countries? Defend your stand (300 words)

Q2) Mention the different components of supply of money as specified by the Reserve Bank of India. In what sense is the narrow money “narrow” ? (300 Words)
Q3) “Validity of Marshall’s equi marginal utility depends on the assumption of unitary elasticity of the marginal utility curves of the commodities under the budget.” Clearly explain this assertion (150 words)