MARCH 25, 2025

Images: Shutterstock [{ "selector": ".mdxtn-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".mkpwu-a", "duration": "500ms", "fill": "forwards", "delay": "750ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

The 2024 Civil Services Mains Exam featured intense economics questions testing analytical skills. Here are seven key questions asked in the exam. Data: https://upsc.gov.in/

1. Examine the role of treasury bills in controlling money supply.

2. Write down the major assumptions behind Neoclassical Loanable Funds Theory of Interest.

3. Describe the short-run and long-run equilibrium of a firm under monopolistic competition.

4. "Higher tariffs do not increase employment, they just redistribute the unemployed." Do you agree with the statement? Explain.

5. Discuss why the railway system developed by the East India Company went against the Indian interest.

6. Critically examine 'per capita' GDP as a crude indicator of development.

7. Distinguish between public goods and private goods. Explain how market failure occurs in the case of public goods.

Life lessons from Wings of Fire by Dr APJ Abdul Kalam

Thanks for reading! See next Read Now

MARCH 25, 2025

7 key economics questions from the 2024 Civil Services Mains Exam

Life lessons from Wings of Fire by Dr APJ Abdul Kalam