B.A. LL.B. (Five Years) Sem 1 General Principles of Economics Oct 2025 Question Paper - SPPU

Questions asked in this paper

PART - A [2 × 15 = 30]

1. Q1 What is Economics? Explain its meaning, definition, and scope.
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2. Q2 Discuss the factors affecting demand. State and explain the law of demand with an appropriate diagram.
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3. Q3 Discuss types of markets, explain with the help of a diagram price determination in perfectly competitive market.
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4. Q4 Discuss in detail all factors of production.
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PART - B [3 × 10 = 30]

1. Q5 State and explain Law of diminishing marginal utility with the help of a diagram.
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2. Q6 Discuss internal and external economies and diseconomies of scale in detail.
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3. Q7 What is elasticity of demand? Discuss all three types of elasticities of demand with appropriate diagrams.
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4. Q8 Explain various theories related to the determination of interest.
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5. Q9 Discuss any one Nobel laureates' contribution to the field of economics.
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PART - C [2 × 5 = 10]

1. Q10 Write short notes on the following. (Any Two) :
   • a) Microeconomics Read the model answer
   • b) Consumer Surplus Read the model answer
   • c) Opportunity cost Read the model answer
   • d) Functional and personal distribution of income. Read the model answer

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