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Based on the GTU syllabus for 3140709 (Principles of Economics and Management)
and analyzing each and every question from all PYQs (Summer 2021 to Winter 2024), here
is a chapter-wise frequency list of repeated and important questions with their marks and
number of times asked.
Unit 1: Introduction to Economics, Demand & Supply, Elasticity
Syllabus Topics:
Nature and Scope of Economics
Microeconomics vs. Macroeconomics
Law of Demand and Supply
Elasticity: Price, Income, Cross
Question Marks Times Asked
Define Microeconomics and Macroeconomics / Differentiate them 3–4 6
Define/Explain Elasticity of Demand (with types/determinants) 4–7 7
Explain Theory of Demand & Supply with Diagram 7 6
Define Price, Cross Elasticity 3 2
Draw flow diagram of goods and services in economy 3 1
Unit 2: Production, Cost, Break-even Analysis
Syllabus Topics:
Production Function & Factors of Production
Law of Variable Proportions & Returns to Scale
Types of Costs: Fixed, Variable, Opportunity, etc.
Break-even Analysis
Times
Question Marks
Asked
Define/Explain various types of costs (fixed, sunk, opportunity,
3–7 6
etc.)
Times
Question Marks
Asked
Explain Break-Even Analysis with formula or numerical 7 7
Explain factors of production in detail 4–7 5
Law of return to scale with diagram 4 1
Unit 3: Markets and National Income
Syllabus Topics:
Types of Market: Perfect, Monopoly, Monopolistic, Oligopoly
National Income: GDP, GNP, NNP, etc.
Times
Question Marks
Asked
Explain Perfect Competition and Monopoly (comparison or
7 6
separate)
Explain various types of markets with characteristics 7 2
Define GDP, GNP, NNP, National Income 3–4 5
Explain methods of calculating National Income 7 2
Define personal income/disposable income 3 1
Unit 4: Economic Problems – Poverty, Unemployment, Inflation
Syllabus Topics:
Absolute & Relative Poverty
Unemployment – Types, Causes, Remedies
Inflation – Types, Causes, Remedies
Question Marks Times Asked
Define and Explain Poverty (types, causes, measures) 4–7 5
Question Marks Times Asked
Define and Explain Unemployment (types, causes, remedies) 4–7 6
Explain Inflation – Causes/Types/Measures to Control 4–7 6
Unit 5: Money, Banking, Monetary & Fiscal Policy
Syllabus Topics:
Functions and Types of Money
RBI – Functions, CRR, SLR, Repo Rate
Monetary Policy vs Fiscal Policy
Question Marks Times Asked
Define and Explain types/functions of Money 3–7 5
Discuss CRR, Repo Rate, Bank Rate, Reverse Repo Rate 3 4
Functions of RBI / Types of Banks 7 5
Explain Fiscal Policy – Objectives and Tools 7 5
Compare Monetary vs Fiscal Policy 7 2
Unit 6: Management Principles
Syllabus Topics:
Definitions, Management vs Administration
Scientific & Administrative Principles (Taylor/Fayol)
Maslow's Hierarchy of Needs
Question Marks Times Asked
Difference between Management and Administration 3–4 6
Principles of Scientific Management (Taylor) 7 3
Administrative Principles (Henri Fayol) 7 2
Question Marks Times Asked
Maslow’s Theory of Needs (with/without diagram) 4–7 6
Management as an Art and Science 3 2
Unit 7: Functions of Management & Organizational Structure
Syllabus Topics:
Planning, Organizing, Staffing, Directing, Controlling
Organizational Structures: Line, Staff, Matrix, Hybrid
Question Marks Times Asked
Functions of Management / Importance of Controlling 7 4
Types of Organizational Structure with examples 7 4
Span of Control / Levels of Management 3–4 2
Planning, Staffing – Meaning and Importance 4 3
Unit 8 & 9: Organizational Culture, CSR, and Ethics
Syllabus Topics:
Concept & Attributes of Culture
CSR – Importance, Pyramid
Business Ethics – Meaning, Importance
Question Marks Times Asked
Define and Explain CSR with examples / Carroll’s Pyramid 7 5
Business Ethics – Importance / Characteristics 7 5
Organizational Culture – Concept and Effect on Managers 3–4 4
Would you like a PDF export of this full chapter-wise analysis or a most important questions
(IMP) summary from this data?
