B.A. LL.B. (Five Years) Sem 1 Principles of Economics 2025 Feb (100 marks) Question Paper - KSLU

Questions asked in this paper

1. Q1 What is Economics ? Explain wealth definition of Economics.
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2. Q2 Explain the features, merits and demerits of capitalism.
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3. Q3 Explain Law of Diminishing Marginal Utility.
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4. Q4 Explain Law of Demand with the help of diagram and schedule.
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5. Q5 Explain consumers equilibrium with the help of indifference curve.
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6. Q6 What is market ? Explain the features of perfect competitive market.
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7. Q7 Explain Innovation theory of profit.
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Write a short note on any two of the following :

1. Q8 (a) Micro and macro economics.
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2. Q8 (b) Monopolistic market.
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3. Q8 (c) Wage differences.
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Answer any two of the following :

1. Q9 (a) Consumer's surplus.
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2. Q9 (b) Oligopoly market.
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3. Q9 (c) 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.