CA Foundation · September 2026 · Paper 4
CA Foundation Business Economics September 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% |
| Theory of Production and Cost | 10 | 10 | 10% |
| Public Finance | 10 | 10 | 10% |
| Money Market | 10 | 10 | 10% |
| International Trade | 10 | 10 | 10% |
| Indian Economy | 10 | 10 | 10% |
| Nature and Scope of Business Economics | 5 | 5 | 5% |
| Business Cycles | 5 | 5 | 5% |
What stood out
- Macroeconomics and the Indian economy carried 55 marks against 45 for the micro chapters, across 100 one-mark MCQs with a quarter-mark penalty for wrong answers.
- Determination of National Income was the heaviest chapter at 15 marks, combining GDP aggregate computations, the Keynesian consumption and multiplier model and deflator logic.
- Price Determination in Different Markets (14) dominated the micro side, with revenue-elasticity relationships, oligopoly behaviour and market classification all tested.
- Numerical items were concentrated in a few areas: cost schedules, elasticity, national income aggregates, money supply measures, reserve ratios and fiscal deficit measures, so formula fluency in these pays off.
- Indian Economy questions leaned towards recent government schemes and policy initiatives alongside the 1991 reforms, so current-affairs reading of official programmes is worth the time.
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.