Download Goa University BA LLB-5 Years 2018 Oct 1st Semester Economics Question Paper

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B.A.L.L.B SEMESTER I OCTOBER-2018.

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TOTAL TIME: 3 Hours

ECONOMICS

TOTAL MARKS: 75

Instructions:

1. Answer any Eight questions from Q.No.1 to 12. (8 x 8)

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2. Q. No.13 and Q.No.14 are compulsory.
3. Students are advised to incorporate the exact question number in the answer scripts. Draw appropriate Diagrams where necessary.

1. Explain the loanable funds theory of interest with the help of a diagram.
2. Explain the Nature and Scope of Economics for the following:
   1. Economics as a Science.
   2. Economics as a Positive and Normative Science

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3. Explain the uncertainty theory of profits with reference to insurable and non-insurable risks.
4. Discuss the Two Methodologies adopted in economics.
5. Discuss the modern theory of rent.
6. Explain the indifference curve approach.

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7. Explain in brief the different kinds of wages and the various factors determining real wages.
8. Describe the different elasticities of demand.
9. Give the characteristics of the monopoly market. Explain regulation and control of monopoly.
10. Elaborate on the Substitution Effect.
11. State and Explain the Law of Variable Proportion.

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12. Explain Pareto's Criteria of Welfare.
13. Write short notes on ANY TWO (3x2)
    1. Chamberlin model of a Duopoly market.
    2. Residual claimant theory of wages.
    3. Role of Price Mechanism.

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14. Write short notes on ANY TWO (2.5x2)
    1. Characteristics of perfect competitive market.
    2. Marginal Rate of Technical Substitution.
    3. Consumers Surplus.

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