LL.B. (Five Years) Sem 1 Economics 2017-18 Question Paper - Mumbai University | munotes

Questions asked in this paper

• Figures to the right indicate full marks.

SECTION I - Answer the following in short (All 10) 20 Marks

1. Q1 What is normative economics?
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2. Q2 What is meant by supply?
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3. Q3 Define explicit cost.
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4. Q4 Give two characteristics of land.
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5. Q5 Give two features of monopoly.
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6. Q6 What does public debt mean?
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7. Q7 Write two types of direct taxes.
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8. Q8 Give two features of capital market.
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9. Q9 Define small scale industries.
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10. Q10 What do you mean by Proportional tax?
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SECTION II - Answer the following in brief (any four out of 6) 20 Marks

1. Q11 Explain the relevance of Economics to Law.
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2. Q12 Distinguish between micro and macroeconomics.
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3. Q13 Explain the characteristics of labour.
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4. Q14 Explain the causes for increasing birth rate.
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5. Q15 Types of tax rates.
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6. Q16 Functions of WTO.
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SECTION III - Attempt any two of the following (Any 2 out of 3) 12 Marks

1. Q17 Explain the types of price elasticity of demand.
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2. Q18 Explain the constraints in agriculture.
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3. Q19 Given TFC as Rs.250/-, calculate the TVC, TC, AFC, AC and MC. The table gives units of output 0 to 5 with only the AVC column filled: unit 1 AVC 120, unit 2 AVC 75, unit 3 AVC 70, unit 4 AVC 62.5, unit 5 AVC 70.
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SECTION IV - Attempt any two of the following (Any 2 out of 6) 48 Marks

1. Q20 State and explain the law of demand. What are its exceptions?
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2. Q21 Explain the features of Indian economy.
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3. Q22 Define agricultural productivity. What are the causes for the growth of agricultural productivity?
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4. Q23 Discuss the factors responsible for the growth of population in India.
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5. Q24 Analyse the National Agricultural Policy-2000.
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6. Q25 Discuss the structure of Indian Money market.
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