B.A. LL.B. (Five Years) Sem 1 Principles of Economics 2023 Mar Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) Critically explain the scarcity definition of Economics.
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2. Q1 OR Explain the merits and demerits of the mixed economic system.
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3. Q1 (b) Write a short note on : Micro 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 Explain the law of demand.
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3. Q2 (b) Write a short note on : Consumer's surplus.
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4. Q2 OR Properties of indifference curves.
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UNIT - III

1. Q3 (a) Explain the law of variable proportions.
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2. Q3 OR Explain the internal and external economies of scale.
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3. Q3 (b) Write a short note on : Features of land.
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4. Q3 OR Production function.
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UNIT - IV

1. Q4 (a) What is monopoly ? What are its features ?
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2. Q4 OR What is perfect competition ? Explain its characteristics.
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3. Q4 (b) Write a short note on : Features of monopolistic competition.
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4. Q4 OR Features of oligopoly market.
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UNIT - V

1. Q5 (a) Explain the Ricardian theory of rent.
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2. Q5 OR Explain the loanable fund theory of interest.
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3. Q5 (b) Write a short note on : Innovation theory of profit.
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4. Q5 OR Wage differentials.
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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.