Micro Economics, Question Paper of B.A / B.Sc. General 1st Semester, Download Previous Years Question Paper for Students.

 B.A. /B.Sc. (General) 1" Semester

1128 ECONOMICS

Paper-Micro Economics

[Time Allowed: Three Hours]     [Maximum Marks: 90 ]

Note:- 

(1) For private candidates who have not been assessed for internal assessment, the marks secured by them in the theory paper will proportionately be increased to maximum marks of the paper in lieu of internal assessment. 

(2) Question No. 1 is compulsory. 

(3) Attempt one question from each unit.

(4) Attempt five questions in all. 

1. Do any nine. Attempt in 25-30 words: (18)

(i) Give Welfare Definition of Economics.

(ii) State the Law of Diminishing Marginal Utility.

 (iii) What is Consumer Equilibrium? 

(iv) Give assumptions of Indifference Curve Analysis.

(v) What is Giffen good? 

(vi) State Marginal Productivity theory of distribution. 

(vii) Define Transfer Earning. 

(viii) What is the difference between Gross Profit and Net Profit? 

(ix) When price discrimination is possible? 

(x) Define internal economies.

(xi) What is Consumer Surplus? 

(xii) What is Marginal Rate of Substitution? 2x9=18

UNIT-I 

2. Discuss the nature and scope of Economics. (18)

3. Explain the Price Effect, Income Effect, and Substitution Effect with the help of Indifference Curve and show that Price Effect is a combination of Income Effect and Substitution Effect. (9,9 )

UNIT-II

4. Explain the Law of Variable Proportion. (18)

5. Explain the concept of Average Cost and Marginal Cost in a short period. Why is the short-run average cost curve U-shaped? (8, 10))

UNIT-III 

6 Explain the importance of time element in the determination of price under Perfect Competition. (18)

7 What is monopolistic competition? How are price and output determined under it? (18)

UNIT-IV

8 Discuss the modern theory of determination of rent. (18)

9 Critically examine loanable funds theory of rate of interest. (18)