B.A. LL.B. (Five Years) Sem 1 Principles of Economics 2017 Dec Question Paper - KSLU

Questions asked in this paper

1. Q1 Explain the features, merits and defects of capitalism.
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2. Q2 Critically explain the welfare definition of economics.
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3. Q3 Explain the law of diminishing marginal utility.
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4. Q4 Critically explain the loanable fund theory of interest.
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5. Q5 Define price discrimination. What are the various types of price discrimination ?
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6. Q6 Explain the various cost concepts and cost curves in the short run and long run.
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7. Q7 Explain the properties of land and labour.
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Write short notes on any two of the following

1. Q8 (a) Economic laws
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2. Q8 (b) Features of perfect competition
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3. Q8 (c) Quasi-rent.
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Write short notes on any two of the following

1. Q9 (a) Define micro economics. Explain limitations of micro economics.
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2. Q9 (b) Law of supply.
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3. Q9 (c) Innovation theory of profits.
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.