Download OU BBA LLB-5 Years 1st Semester 2018 March-April Business Economics Question Paper

FACULTY OF LAW

BBA. LL.B (5 YDC) I Year I-Semester Examinations, March / April 2018

Subject: Law

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Paper - III : Business Economics

Time : 3 Hours Max. Marks : 80

PART - A (5x6=30 Marks)

Answer any FIVE of the following:

1. Discounting Principle.

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2. Constrained and Unconstrained optimization.
3. Demand Schedule.
4. Demand forecasting.
5. Law of supply.
6. Features of oligopoly market.

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7. Demand-pull and cost-push inflation.
8. Concept of National Income.

PART - B (4x12½ = 50 Marks)

Answer any FOUR of the following questions:

1. Discuss the nature and scope of Business Economics.

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2. What are the factors determining the Demand?
3. Distinguish between Individual Demand and Market Demand.
4. What do you understand by production function? Describe the various stages of a total production function with help of a diagram.
5. Distinguish between return to a factor and return to scale and explain the reasons for economics and diseconomies of scale.
6. How are price and output determined under monopoly?

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7. "A firm under perfect competition earns only normal profits in the long run". Explain.
8. What are the factors determining growth of an economy and also discuss the obstacles to development?

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