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Sunday, July 17, 2022

Download "Micro Economics" Question Paper - Economics for B.A. - B.Sc. (General) 1st Semester Examination. All Previous years Question Papers.




B.A. - B.Sc. (General) 1st Semester Examination

Economics

Paper: Micro Economics

Time: 3 Hours] [Max. Marks: 90



Note: - (i) Question No. 1 is compulsory.

(ii) Attempt five questions in all.

(iii) Select one question from each Unit.


(Compulsory Question) 

1. Do any nine answers in 25–30 words:

(i) Give the wealth definition of Economics.

(ii) What is cross elasticity of demand? 

(iii) What is an indifference map? 

(iv) What is the social cost?

(v) Define short-run. 

(vi) Define production.

(vii) Define monopoly.

(viii) Define price discrimination. 

(ix) Define nominal and real wages. 

(x) Define net profit. 

(xi) Explain quasi rent. 

(xii) Distinguish between gross interest and net interest.



Unit-I


2. Explain the critical law of Diminishing Marginal Utility.


3. Explain the various methods to measure price elasticity of demand.


Unit-II 


4. Explain in detail the laws of returns to scale. 


5. Define concepts of total revenue (TR), average revenue (AR) and marginal revenue (MR). Also explain the behaviour of AR and MR under different situations.



Unit-III


6. How does a firm maximizes profits and minimizes losses under perfect competition?


7. What are selling costs? How does a firm attains equilibrium with selling costs?



Unit-IV 


8. Explain Loanable fund theory of Interest. 


9. Examine Ricardian theory of rent.


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