VNSGU BA 2019 1st Year 2115 Economics Paper 1 (Micro Economics) Question Paper

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First Year B.A. (External) Examination

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Instructions

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1. Fill up strictly the details of signs on your answer book
   Name of the Examination: First Year B.A. (External)
   Seat No.:
   Name of the Subject : Economics Paper-1 (Micro Economics)
   Subject Code No.: Student's Signature

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2. Answer all questions as per the instructions.

Q -1 What is macro economics? Explain the scope, importance and limitation of macro economics. (20)
OR
Q-1 (A) Discuss the definition of welfare oriented economics. (10)
(B) Discuss the factors affecting supply (10)

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Q-2 What is Production function ? Discuss the three stages of law of variable Proportion with the help of diagram. (20)
OR
Q-2 (A)Explain the concept of consumer’s surplus. (10)
(B) Explain the concept of income elasticity of demand. (10)

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Q -3 What are internal and external economies of scale. Discuss in detail the economies and dis-economies of scale. (20)
OR
Q-3 (A)Explain long run average cost curve with the help of diagram. (10)
(B) Discuss the characteristics of monopolistic competition. (10)

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Q-4 What is Price leadership ? State the characteristics of price leadership. Discuss necessary conditions for price leadership. (20)
OR
Q-4 Critically discuss the marginal Productivity theory of distribution. (20)

Q-5 What is differential rent ? critically evaluate the theory of differential rent of David Ricardo. (20)
OR

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