B.A. LL.B. (Five Years) Sem 2 Economics I (old course) 2011 Jan Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) Critically examine the welfare definition of Economics.
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2. Q1 OR Explain the subject matter of Economics.
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3. Q1 (b) Production possibilities curve.
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4. Q1 OR Opportunity cost.
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UNIT - II

1. Q2 (a) Explain price elasticity, income elasticity and cross elasticity of demand.
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2. Q2 OR Explain the law of demand with the help of a schedule and curves. What are its exceptions ?
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3. Q2 (b) Price effect and income effect.
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4. Q2 OR Equimarginal utility.
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UNIT - III

1. Q3 (a) What is cost of production ? Explain short run and long run cost curves.
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2. Q3 OR Explain the law of diminishing returns.
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3. Q3 (b) Revenue curves.
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4. Q3 OR Production function.
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UNIT - IV

1. Q4 (a) What is monopoly ? How are price and output determined in a monopoly market ?
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2. Q4 OR Explain the various features of monopolistic market. In the short run and long run, how are price and output determined in a monopolistic market ?
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3. Q4 (b) Oligopoly.
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4. Q4 OR Features of perfect competition.
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UNIT - V

1. Q5 (a) What is national income ? Explain the various concepts of national income.
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2. Q5 OR Explain Keyne's law of consumption. What are the factors influencing the function of consumption ?
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3. Q5 (b) Difficulties in estimating national income.
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4. Q5 OR Effective demand.
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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.