B.A. LL.B. (Five Years) Sem 2 Economics I (Hons) 2016 Jun Question Paper - KSLU

Questions asked in this paper

1. Q1 Explain the nature and scope of Economics.
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2. Q2 Explain the law of diminishing marginal utility with the help of a schedule and diagram. Write briefly about its importance and assumptions.
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3. Q3 What is indifference curve ? Explain the indifference curve and indifference map with the help of schedule and diagram.
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4. Q4 What is law of demand ? Discuss the law of demand with schedule and diagram.
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5. Q5 What is law of supply ? Explain the most important determinants of supply.
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6. Q6 What is National Income ? Discuss the methods of measurement of national income.
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Write short note on any two of the following :

1. Q7 (a) Welfare or Neo-classical definition.
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2. Q7 (b) The basic problems of an economy.
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3. Q7 (c) Extension and contraction of demand.
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Answer any two of the following :

1. Q8 (a) As per the demand function Qd = 20 - 2P, when the price of tomato per Kg, is Rs. 4, Rs. 5, Rs. 6, Rs. 7 and Rs. 8, then calculate the quantity of demand and derive an individual demand curve.
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2. Q8 (b) Different properties of indifference curve.
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3. Q8 (c) Define production function. Explain the law of return to scale.
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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.