BLS LLB 5 Years Sem 1 Economics 2018-19 Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q2 Draw neat diagrams and schedules where necessary
2. Q1 Answer the following in brief. 20 marks
   • a) State two drawback of wealth definition of Economics defined by Adam smith
   • b) Write two arguments against “Economics is science”
   • c) What is Normative Economics? Give an example
   • d) What is social cost?
   • e) Write two features of Labour
   • f) What is density of population?
   • g) State two causes of low per capital income in India
   • h) State difference between small scale industry and cottage industry
   • i) What is Direct Tax and Indirect Tax?
   • j) What is Money Market? Give an examples
3. Q2 Write short notes. (Any 4) 20 marks
   • a) Short term market and long term market
   • b) Marginal Productivity Theory of Wages
   • c) Features of Monopoly Market
   • d) Trends in Indian Foreign Trade after Independence
   • e) Balance of Payment
4. Q3 Answer the following. (Any 2) 12 marks
   • a) Comment on poverty eradication programs in India
   • b) Suggest the measures to improve the agriculture productivity in India
5. Q4 Answer the following in details. (Any 4) 48 marks
   • a) Write the features of Law. Explain the relevance of Economics to Law
   • b) State and explain the various kinds of price elasticity of demand
   • c) State the factors determining real wages. Why do entrepreneurs earn profit? Discuss with relevant theories of profit
   • d) What is population explosion? Explain the measures to control population growth in
   • e) Comment on New Industrial Policy 1991
   • f) Evaluate Indian Tax structure and reforms since 1990

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