B.A. LL.B. (Five Years) Sem 1 Principles of Economics 2018 Dec Question Paper - KSLU

Questions asked in this paper

1. Q1 Critically examine the welfare definition of Economics.
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2. Q2 Explain the features, merits and demerits of the socialist economy.
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3. Q3 Critically explain the law of diminishing marginal utility.
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4. Q4 Explain the law of variable proportions.
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5. Q5 What is monopoly ? How are price and output determined under monopoly market ?
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6. Q6 Discuss critically the loanable fund theory of interest.
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7. Q7 What are indifference curves ? Explain the equilibrium of the consumer with help of indifference curves.
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Write short notes on any two of the following :

1. Q8 (a) Quasi-rent.
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2. Q8 (b) Features of monopolistic competition.
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3. Q8 (c) Production function.
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Write short notes on any two of the following :

1. Q9 (a) Product life cycle.
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2. Q9 (b) Innovation theory of profit.
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3. Q9 (c) Consumers surplus.
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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.