IES ISS 2020 General Economics Paper I Question Paper PDF

Central Government Jobs Other Jobs 2020

  • Year 2020
  • Conducted By UPSC
  • Maximum Marks 200
  • Duration Three Hours
  • Languages English

Exam Details

Detail Information
Examination Indian Economic Service - Indian Statistical Service Examination
Year 2020
Conducting Body UPSC
Paper General Economics Paper - I
Subject General Economics
Duration Three Hours
Maximum Marks 200
Question Type Mixed

This is the General Economics Paper - I from the Indian Economic Service - Indian Statistical Service Examination conducted by UPSC in 2020. The paper is designed to test candidates' in-depth knowledge of economic principles and their application. It allows a total of three hours to complete and is worth a maximum of 200 marks. Aspirants preparing for the IES ISS exam can use this paper to understand the question format, difficulty level, and key topics covered, aiding in their strategic preparation.

Major Topics Covered

  • Cobb-Douglas production function
  • Returns to scale
  • Homothetic preferences
  • Monopoly power
  • Bandwagon effect
  • Snob effect
  • Deadweight loss
  • Price ceiling
  • Welfare Economics
  • Public goods
  • Non-rival goods
  • Non-exclusive goods

Why This Paper is Important

  • Useful for Indian Economic Service - Indian Statist preparation
  • Helps understand the latest exam pattern
  • Useful for practice and self-assessment
  • Covers frequently asked General Studies topics
  • Helpful for analysing question trends

Related Resources

  • IES ISS 2021 General Economics Paper I
  • IES ISS 2019 General Economics Paper I
  • IES ISS 2020 General Economics Paper II
  • IES ISS 2020 Indian Statistics Paper I
  • IES ISS 2020 General Economics Paper I Answer Key
  • IES ISS General Economics Syllabus
  • UPSC Economics Syllabus
  • IES ISS Exam Pattern

Instructions

  • There are THIRTEEN questions divided under THREE sections.
  • The ONLY question in Section A is compulsory.
  • In Section B, FIVE out of SEVEN questions are to be attempted.
  • In Section C, THREE out of FIVE questions are to be attempted.
  • Candidates should attempt questions / parts as per the instructions given in the sections.
  • The number of marks carried by a question / part is indicated against it.
  • Attempts of questions shall be counted in sequential order.
  • Unless struck off, attempt of a question shall be counted even if attempted partly.
  • Any page or portion of the page left blank in the Question-cum-Answer Booklet must be clearly struck off.
  • Candidates are required to write clear, legible and concise answers.
  • Answers must be written in ENGLISH only.

Questions (page 2)

Section A

Q1.

(a) Show the conditions for a Cobb-Douglas production function under :
(i) increasing returns to scale
(ii) constant returns to scale
(iii) diminishing returns to scale

(b) Are the Laws of Returns compatible ? Define homothetic preferences. Explain the common characteristics of such preferences with the help of necessary diagrams.

(c) What is monopoly power? What factors determine the amount of monopoly power?

(d) Explain the difference between Bandwagon effect and Snob effect.

(e) What is meant by deadweight loss ? Why does a price ceiling usually result in a deadweight loss?

(f) State the fundamental theorems of Welfare Economics.

(g) Public goods are both non-rival and non-exclusive. Explain each of these terms and show clearly how they differ from each other.

Question paper preview

Scanned pages 1–2 for reference. Download the official PDF for the full paper.

Page 1
IES ISS 2020 General Economics question paper page 1 instructions scan PDF download. UPSC Indian Economic Service Indian Statistical Service exam paper.
Page 2
IES ISS 2020 General Economics question paper page 1 instructions scan PDF download. UPSC Indian Economic Service Indian Statistical Service exam paper.

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Frequently asked questions

What is the name of the examination?

The examination is the Indian Economic Service - Indian Statistical Service Examination.

Which paper is this question paper for?

This question paper is for General Economics Paper - I.

What is the conducting body for this examination?

The examination is conducted by UPSC (Union Public Service Commission).

In which year was this examination conducted?

This examination was conducted in the year 2020.

What is the maximum marks for General Economics Paper - I?

The maximum marks for General Economics Paper - I is 200.

What is the time duration allowed for this paper?

The time allowed for this paper is Three Hours.

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