Mumbai University Solved Question Papers
Economics
Previous Year Question Paper with Solution
BLS LLB 5 Years · Sem 1
2023-24 - ATKT 75/25 Examination
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BLS LLB 5 Years Sem 1 Economics 2023-24 - ATKT 75/25 Question Paper with Solutions
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First published on munotes.in on 9 August 2026.
This edition revised 11 August 2026.
Published by munotes.in, Mumbai.
Model answers written and edited by the munotes.in editorial desk.
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The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.
The question paper reproduced here is the paper as set by the University of Mumbai at the 2023-24 - ATKT 75/25 examination.
Contents
The questions below are the paper as the University of Mumbai set it at the 2023-24 - ATKT 75/25 examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the 2023-24 - ATKT 75/25 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 2½ hours · Total marks 75 · 21 questions answered
Instructions printed on the paper
- Figures to the right indicate maximum marks.
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
SECTION I
Answer the following questions in two sentences
Any Six out of 8 · 12 Marks
1.Define private sector.[2]
Answer
The private sector is that part of the economy which is owned, controlled and managed by private individuals or private bodies, whether individuals, partnerships, companies or cooperatives, and which is operated primarily for profit.
Its features:
- Private ownership of capital and assets.
- Profit as the principal motive.
- Decisions taken on commercial considerations, guided by the price mechanism.
- The owner bears the risk and takes the reward.
Examples: Tata Steel, Reliance Industries, Infosys, HDFC Bank, and equally the small trader, the private clinic and the family-run workshop.
The rest of the answers
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