CA Foundation · January 2026 · Paper 4
CA Foundation Business Economics January 2026: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICAI; read them on ICAI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
| Chapter | Questions | Marks | Share |
|---|---|---|---|
| Determination of National Income | 15 | 15 | 15% |
| Price Determination in Different Markets | 14 | 14 | 14% |
| Theory of Demand and Supply | 11 | 11 | 11% |
| International Trade | 11 | 11 | 11% |
| Theory of Production and Cost | 10 | 10 | 10% |
| Money Market | 10 | 10 | 10% |
| Public Finance | 9 | 9 | 9% |
| Indian Economy | 9 | 9 | 9% |
| Business Cycles | 6 | 6 | 6% |
| Nature and Scope of Business Economics | 5 | 5 | 5% |
What stood out
- Macroeconomics outweighed microeconomics 60 to 40, with Determination of National Income the single largest chapter at 15 marks, including several numericals on GDP, GVA and multipliers.
- Price Determination in Different Markets led the micro side at 14 marks, with monopoly, price discrimination, oligopoly behaviour and market classifications all represented.
- Numerical questions appeared across chapters (elasticity, cost tables, national income aggregates, budget deficits, credit multiplier, exchange rate), so the paper was not purely theory recall.
- Indian Economy and International Trade together carried 20 marks and rewarded current-affairs style knowledge of government schemes, reform history, FDI types and WTO.
- The official key accepted two options for one question, a reminder that ICAI revises keys after review, so students should check the final published key.
Practise the chapters that carried the marks
Determination of National Income, Price Determination in Different Markets, Theory of Demand and Supply: study guides and practice questions in the CA Foundation format.