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

Questions asked in this paper

UNIT - I

1. Q1 (a) Critically examine the scarcity definition of Economics.
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2. Q1 OR Explain the features, merits and demerits of the mixed economy.
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3. Q1 (b) Macro economics.
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4. Q1 OR Economic Laws.
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UNIT - II

1. Q2 (a) Explain the law of Equi-marginal utility.
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2. Q2 OR What is indifference curve ? Explain its properties.
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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) Critically examine the law of variable proportion.
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2. Q3 OR Explain the internal and external economies of scale.
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3. Q3 (b) Production function.
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4. Q3 OR Properties of land and labour.
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UNIT - IV

1. Q4 (a) What is monopoly ? Explain its features.
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2. Q4 OR What is price discrimination ? Explain the types of price discrimination.
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3. Q4 (b) Features of perfect 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) Quasi-rent.
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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.