Ibrahim works as a mechanic and earns `5000 per month. To increase his family income, his wife and
parents also begin to work. Over a period of time when his income increases to `20,000, Ibrahim asks his
family members not to work and enjoy leisure.
The phenomenon indicated in this situation does not conform to the Law of Supply. Give a reason to
support this statement. Draw the supply curve based on the given situation.

Net factor income from abroad (-) 30
(j) Consumption of fixed capital 120

Refer to the diagram given below and choose the correct statement.

Identify the form of market referred to in the above passage. Name any two industries which come under
the same market form.

Abhinav derives total utility of 11 utils after consuming 4 mangoes and 9 utils after consuming 6 mangoes.
What is his marginal utility on consuming the 6th mango?

Law of Variable Proportions is NOT applicable when:

What is meant by primary deficit?