B.A. LL.B. (Five Years) Sem 1 Principles of Economics 2022 Apr Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) Critically examine the wealth definition of Economics.
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2. Q1 OR What is socialism ? Explain the merits and demerits of socialism.
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3. Q1 (b) Macro economics.
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4. Q1 OR Cost concepts.
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UNIT - II

1. Q2 (a) Critically explain the law of diminishing marginal utility.
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2. Q2 OR What is indifference curve ? Explain the properties of indifference curve.
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3. Q2 (b) Consumer's surplus.
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4. Q2 OR Law of Demand.
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UNIT - III

1. Q3 (a) Explain the internal and external economies of scale.
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2. Q3 OR Explain the law of variable proportion.
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3. Q3 (b) Production function.
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4. Q3 OR Properties of labour.
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UNIT - IV

1. Q4 (a) What is perfect competition ? Explain its features.
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2. Q4 OR What is price discrimination ? Explain its types.
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3. Q4 (b) Monopolistic competition.
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4. Q4 OR Product life cycle.
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UNIT - V

1. Q5 (a) Critically examine Ricardian theory of Rent.
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2. Q5 OR Explain the innovation theory of profit.
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3. Q5 (b) Wage differentials.
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4. Q5 OR Quasi-rent.
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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.