Download Goa University BA LLB-5 Years 2014 April 1st Semester Economics I Micro Economics Question Paper

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B.A. LL.B. (Semester – I) Examination, April - 2014

ECONOMICS – I: MICRO ECONOMICS

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Duration: 3 Hours

Total Marks: 75

Instructions: 1) Answer any Eight Questions from Question No. 1 to 12.

2) Q. No. 13 and Q. No. 14 are compulsory.

1. Explain the nature and scope of economics (8)

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2. Explain with the help of diagrams the Income elasticity of demand (8)
3. Explain with the help of diagrams the Engel's curve for inferior and neutral goods. (8)
4. Elucidate the features of a monopoly market. (8)
5. Explain the law of variable proportion with the help of a diagram. (8)
6. Explain the external economies of scale. (8)

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7. Explain the notion of controlled and administered prices (8)
8. Explain the expansion path with help of a diagram (8)
9. Explain the theory of Wage determination (8)
10. Explain the Keynesian theory of interest (8)
11. Critically evaluate the welfare concept (8)

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12. Explain the relationship between risk, uncertainty and returns in investment (8)

13. Write short notes on any two: (6)

1. Average annual rate of return
2. Differential Rent
3. Choice as an economic problem

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4. Implicit and Explicit cost

14. Write short notes on any two:

1. Indifference curve
2. Isoquant
3. Factors affecting supply.

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