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

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B.A.LL.B. (SEMESTER – I) Examination, October 2014

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ECONOMICS – I: MICRO ECONOMICS

Duration: 3 Hours

Total Marks: 75

Instructions: Answer any Eight from Q. No. 1 to 12. Question No. 13 and 14 are compulsory.

1. Explain Robbin's definition of economics. (8X8=64)

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2. Explain with the help of diagram the increase and decrease in supply.
3. Explain total utility and marginal utility with the help of a diagram.
4. What are giffen goods? Explain with the help of a diagram.
5. Bring out the difference between consumer's equilibrium & producer's equilibrium.
6. What are returns to scale? Explain with the help of a diagram.

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7. Explain the concept of expansion path with the help of a diagram.
8. Elucidate the features of monopoly.
9. Explain the compensation principle of welfare economics.
10. Explain the Classical theory of interest.
11. Explain the risk theory of profits.

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12. What are the elements of social cost-benefit analysis?

13) Write short notes on any two:

1. Factors affecting demand
2. Quasi rent
3. Isoquant

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4. The internal rate of return method

14) Write a short note on any two:

1. Types of demand
2. Nominal and real cost
3. Inductive method

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