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Economics-2014: Answer Writing Challenge – 18


23 September 2014

Q1) “A dominant firm acts as a price leader and other firms adjust their outputs accordingly”Comment (200 Words)

Q2) Discuss the process of forced commercialization of agriculture under colonial rule (200 Words)
Q3) ” In spite of its limitations, Kalecki’s theory of distribution is real in that it states that the monopoly and not the perfect competition is found in the real world and that monopoly power affects distribution ” In the light of the above statement, elaborate Kalecki’s theory of distribution and discuss its utility (300 Words)