LL.B. (Five Years) Sem 1 Economics 2018-19 Question Paper - Mumbai University | munotes

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

1. Q1 State two drawback of wealth definition of Economics defined by Adam smith.
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2. Q2 Write two arguments against "Economics is science".
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3. Q3 What is Normative Economics? Give an example.
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4. Q4 What is social cost?
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5. Q5 Write two features of Labour.
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6. Q6 What is density of population?
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7. Q7 State two causes of low per capital income in India.
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8. Q8 State difference between small scale industry and cottage industry.
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9. Q9 What is Direct Tax and Indirect Tax?
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10. Q10 What is Money Market? Give an examples.
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SECTION II - Write short notes (Any 4 out of 6) 20 Marks

1. Q11 Short term market and long term market.
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2. Q12 Marginal Productivity Theory of Wages.
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3. Q13 Features of Monopoly Market.
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4. Q14 Trends in Indian Foreign Trade after Independence.
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5. Q15 Balance of Payment.
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6. Q16 WTO.
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SECTION III - Answer the following (Any 2 out of 3) 12 Marks

1. Q17 Comment on poverty eradication programs in India.
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2. Q18 Suggest the measures to improve the agriculture productivity in India.
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3. Q19 Given TFC 200, Find out TVC, TC, AFC, AVC and AC. Units of Output: 1, 2, 3, 4, 5, 6. MC: (not printed), 50, 80, 100, 100, 80.
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SECTION IV - Answer the following in details (Any 4 out of 6) 48 Marks

1. Q20 Write the features of Law. Explain the relevance of Economics to Law.
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2. Q21 State and explain the various kinds of price elasticity of demand.
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3. Q22 State the factors determining real wages. Why do entrepreneurs earn profit? Discuss with relevant theories of profit.
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4. Q23 What is population explosion? Explain the measures to control population growth in India.
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5. Q24 Comment on New Industrial Policy 1991.
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6. Q25 Evaluate Indian Tax structure and reforms since 1990.
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