BLS LLB 5 Years Sem 1 Economics 2024-25 Question Paper - Mumbai University | munotes

Questions asked in this paper

• Figures to the right indicate full marks.

SECTION I - Answer the following questions in two sentences (Answer any 6 out of 8) 12 Marks

1. Q1 Write a difference between Micro and Macro economics. Give example.
   Read the model answer
2. Q2 State definition of "National Income" given by National Sample Survey.
   Read the model answer
3. Q3 Name any two Schemes initiated by government to alleviate the poverty in India.
   Read the model answer
4. Q4 Write the difference between GDP and NDP.
   Read the model answer
5. Q5 What is Prosperity Phase of business cycle?
   Read the model answer
6. Q6 Write two functions of NITI Aayog.
   Read the model answer
7. Q7 What is Money Supply?
   Read the model answer
8. Q8 State two causes of adverse balance of payment.
   Read the model answer

SECTION II - Write short notes (Answer any 2 out of 4) 12 Marks

1. Q9 Significance of Economics in legal profession.
   Read the model answer
2. Q10 Circular Flow of Income.
   Read the model answer
3. Q11 BRICS
   Read the model answer
4. Q12 WTO
   Read the model answer

SECTION III - Attempt any two of the following (Answer any 2 out of 4) 12 Marks

1. Q13 Price of 'x' commodity increased by 10 percent. In its response demand for the same commodity was decreased by 6 percent.
   • (a) State and explain the type of elasticity of demand expressed in above facts.
   • (b) Use the Formula of Price elasticity and find out the elasticity whether it is less or greater than one.
   Read the model answer
2. Q14 Agricultural productivity before Green Revolution was comparatively very less. Much more India's requirement of agricultural production was to be fulfilled by importing. Today not only India has been self-sufficient in food grains but also exporting much of the agricultural production.
   • (a) State any three strategies adopted by Indian Government to increase the agricultural productivity.
   • (b) Do you think that the increased agricultural production by using pesticides and chemical fertilisers is harmful for human health? Why?
   Read the model answer
3. Q15 India is the most populous country in the world with one sixth of the world's population. India's population is more than 145 crores today.
   • (a) State the legal provisions by which population growth can be controlled.
   • (b) State and explain any two methods to appropriate use of labour force created by increased population.
   Read the model answer
4. Q16 Due to industrial growth in the country, there have been structural changes in imports since 1951. Eg. Increasing imports of capital goods and raw materials. Declining imports of food grains and consumer goods.
   • (a) Do you think that the New Industrial policy 1991 caused for the industrial growth in India? Give reasons to support your answer.
   • (b) Write two examples of structural changes in India's foreign trade.
   Read the model answer

SECTION IV - Answer the following in detail (Answer any 3 out of 5) 39 Marks

1. Q17 Do the comparative study between Perfect Competition Market, Monopoly Market and Monopolistic Competition Market.
   Read the model answer
2. Q18 Write the salient features of Indian Economy.
   Read the model answer
3. Q19 Explain the problems and measures of Micro, Small and Medium Enterprises.
   Read the model answer
4. Q20 What is Money Market? State the features and recent changes in Indian Money Market.
   Read the model answer
5. Q21 State and explain the causes of growth of Public Expenditure with appropriate examples.
   Read the model answer

Read from the scan above, so a character or two may differ. The scan is the original.