B.A. LL.B. (Five Years) Sem 1 Principles of Economics 2026 Jan Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) Critically explain wealth definition of economics.
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2. Q1 OR Define economic system. Explain merits and defects of socialism.
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3. Q1 (b) Scope of economics.
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4. Q1 OR Various cost concepts.
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UNIT - II

1. Q2 (a) Explain the law of equi-marginal utility.
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2. Q2 OR Define indifference curve analysis. How consumer attain equilibrium ?
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3. Q2 (b) Properties of indifference curve.
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4. Q2 OR Limitations of demand.
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UNIT - III

1. Q3 (a) Explain the law of diminishing returns.
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2. Q3 OR Explain the features of labour and capital.
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3. Q3 (b) Increasing returns to scale.
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4. Q3 OR Production function.
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UNIT - IV

1. Q4 (a) Explain the features of perfect competition. How price and output determined ?
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2. Q4 OR Explain the price and output determination under monopolistic competition.
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3. Q4 (b) Features of monopoly.
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4. Q4 OR Oligopoly.
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UNIT - V

1. Q5 (a) Critically explain marginal productivity theory of distribution.
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2. Q5 OR Critically explain Ricardian theory of rent.
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3. Q5 (b) Minimum wage.
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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.