Total No. of Printed Pages :4] M/Sem II1/161 Roll No. M. A. Semester III Examination, 2013-14 ECONOMICS Paper : ECM-305C Natural Resource Economics Time : Three hours ] | Fall Marks : 70 [ Write your Roll No. at the top immediately on the receipt of this question paper. ] Note; This question paper comprises of three sections: 'B' and 'C’. All questions are compulsory. wore a draws 9, Toa wel at we ofrard ® | SECTION-A ws-a Note: Answer each question in about 50 words. Each question carries 2 marks. PrafeRac seat ar UTR 50 TRIS orex Ofer wee we 2 sient oT e1 P.T.O.\W/Sem II/161 a) Renewable resource, sdraeoer Tare, (b) Resource scarcity, aan Seb, (c) Backstop Snbstitute, uftreeras ot ae (dl) Open access resource, yeat Oa ORE, (e) Biological growth model. Alea fara wre | 2x5 SECTION-B ws- 4a Note : Answer each of the following questions in about 250 words. Each question carries 10 marks. Prafaftad Aa wets wer BI TER TT 250 eee © ARie 1 week veF 10 98 BT aI 3x10=30 2. Define natural resources, Explain the different basis for the classification of resources yee dam # gate sr) mei SF oie & fay aren a feta wg | oR ‘werent What is the economic distinction of renewable and non-renewable resources? dawha vd a ude wane 3 na onkha ame? (2)M/SemlV/161 3. What do you mean by user cost ? If user cost increases, what happens to the level of harvest or extraction today ? “wrtien Br array Bae ane a? ae waaeT a are ah 2 ot, om der dS eR ot Pert oy war wae ett ? OR aera Discuss the ‘Cake eating theory’ in the context of exhaustible resources. are dene} B gohrar H viel A Bay TST (cake cating) Raia Hare APS | In the simple biceconomic model, if the marginal stock effect is greater than the discount rate, discuss the relationship between stock (X°) and Maximum Sustainable Yield (MSYx) ? we ora tle one omar 4 uf Hard ese Wad (Marginal Stock effect) Ae FF (Discount rate) @ afte & Wd wer (C) yd offer chee waa & wey vider eer er ? oR sere Discuss the role and importance of natural resource management in the context of a developing country. ws Rtorntea te vet A orgie went weer A afta cen wens aaa Sse (3) P.T.0.MiSem 1/161 SECTION -C ws 0 Note : Answer the following questions. Each question carries 15 marks. 2x15=30 Reta get S awe Oey | wal wei 15 sat wr’ 5. What do you mean by optimal depletion of resources ? Describe the theory of optimal depletion of exhaustible resource. vemedt od ogee er Bama aa asd BP amor aM Baars Reta at TUT we OR sear Discuss the allocative dynamics of renewable: sewed eine oR ner Her a are ag | 6. 1s economic efficiency compatible with sustainability 2 Discuss in the context of natural resource economics, au antl zen / area whan d wer ETT 2? wafte ae anki & det 4 area ety | oR rere 1: is not scarcity but sustainable use of is the need of the day. Discuss, gchan sO, afee act wha Bont a snag 2B 1 area ay 400