Download Goa University BA LLB-5 Years 2015 April 1st Semester Economics I Micro Economics Question Paper

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10-4-2015

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B.A. LL.B. SEMESTER I EXAMINATION APRIL 2015.

ECONOMICS I: MICRO ECONOMICS

Duration: 3 Hours

Total Marks: 75

Instructions: 1) Answer any eight questions from Q. No. 1 to Q. No. 12 (8x8=64)

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

1. Explain economics as the science of wealth.
2. Explain with the help of a diagram the expansion and contraction in demand.
3. Explain total utility and marginal utility with the help of a diagram.
4. Explain with the help of diagrams the Engel's curve for superior and neutral Goods.

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5. Bring out the difference between consumer's equilibrium & producer's equilibrium
6. Explain with the help of a diagram the law of variable proportion.
7. Explain the internal & external economies of scale
8. Elucidate the features of perfect competition.
9. Explain the Classical economist's view on welfare economics

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10. Explain the Keynesian theory of interest.
11. Explain the innovation theory of profits.
12. What are the elements of social cost-benefit analysis?

13) Write short notes on any two:

1. Factors affecting supply

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2. Welfare economics
3. Iso-cost line
4. The net present value method

14) Write a short note on any two:

1. Implicit & Explicit cost

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2. Choice as an economic problem
3. Deductive method