BLS LLB 5 Years Sem 1 Economics 2025-26 ATKT 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

SECTION I - Short Answer Questions (Attempt any 6 out of 10, each question carries 2 marks) 12 Marks

1. Q1 Define opportunity cost with an example.
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2. Q2 Write two points supporting economics as a science.
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3. Q3 Explain public debt and public expenditure
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4. Q4 Define capital market and explain its significance.
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5. Q5 What is the relevance of studying economics for law students
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6. Q6 Explain the concept of 'balance of trade'
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7. Q7 What is the income elasticity of demand ?give example
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8. Q8 Who is an entrepreneur ?explain with an example
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9. Q9 What is GDP? State its formula
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10. Q10 What are the three central economic problems? Explain using example.
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SECTION II - Short Notes (Attempt any 2 out of 4, each question carries 6 marks) 12 Marks

1. Q11 WTO (World Trade Organisation
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2. Q12 Discuss the importance of SEBI
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3. Q13 Explain the difference between Positive Economics and Normative Economics
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4. Q14 Discuss the Exceptions to the Law of Demand with apt examples.
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SECTION III - Situational Questions (Attempt any 2 out of 4, each question carries 6 marks) 12 Marks

1. Q15 A leading toothpaste brand controls almost 80% of the market in a city. Smaller brands exist, but customers prefer the leading one due to its advertisements and brand loyalty. The company charges a higher price compared to others. Explain how this situation reflects a monopolistic market. What are the advantages and disadvantages for consumers in such a market?
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2. Q16 A cinema hall reduces its ticket price from Rs.200 to Rs.150. As a result, the number of tickets sold increases from 300 to 500 in a week. Calculate whether the demand for tickets is elastic or inelastic. Explain the meaning of your answer.
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3. Q17 The government of India has decided to provide free healthcare for low-income families.
   • (a) How will this policy help the poor?
   • (b) What economic challenges can arise due to free healthcare services?
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4. Q18 Mr. Ravi invested in shares of a small company listed on the Indian stock exchange. Soon after, the company's share price dropped drastically because of insider trading and lack of transparency in company reports. Ravi lost a major portion of his savings. Identify the problems of the Indian capital market reflected in this case. Suggest two measures to protect small investors like Ravi.
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SECTION IV - Long Answer Questions (Attempt any 2 out of 4, each question carries 12 marks) 24 Marks

1. Q19 What changes took place in India's foreign trade since nineties. Explain with example.
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2. Q20 Explain the Indian tax structure and which important tax reforms were introduced after 1990.
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3. Q21 What are the different factors of production and how are they priced in an economy. Explain with examples.
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4. Q22 What are the major causes of poverty in India? Suggest ways to reduce poverty.
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