BA Marathi And English SEM I 2017 2018 March 2018 ECONOMICS PAPER I Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q2 Each question carries equal (20) marks
2. Q1 Attempt any two of the following:
   • a) People face trade-offs due to scarcity of resources. Explain with the help of three
   • b) Explain with the help of three examples that the standard of living in a country depends upon its output
   • c) Explain the relationship between growth in the quantity of money and inflation rate in
3. Q2 Attempt any two of the following:
   • a) Identify the role of assumptions in economic analysis
   • b) Discuss the model of production possibility frontier
   • c) graph for the following function and explain it
4. Q3 Attempt any two of the following:
   • a) Explain the following
   • (i) Shifts in supply curve
   • (ii) Movements along the supply curve
   • b) Given the demand schedule of two individuals, derive the market demand schedule and Price (in Rs.) Individual A Individual B Quantity demanded. (in units) Quantity demanded (in units)
   • (c) Explain the concept of price elasticity of demand and its types
   • Q.P. Code :00762
5. Q4 Attempt any two of the following:
   • a) Explain the concept of comparative cost advantage with the help of two examples
   • b) Given two countries A and B, producing two goods computers and television, the cost of production is shown in the following table Hours needed to produce 1 unit of the good
   • i) many units of computers and television can the countries produce in 100 hours
   • ii) | Draw the productions possibility curve for both these countries
   • c) Explain what is free trade policy
6. Q5 Attempt any two of the following:
   • a) Itis more efficient to organize economic activity through the market. Explain
   • b) Why do economists disagree most of the time?
   • c) How do you analyze the changes in equilibrium due to a shift in the demand curve? Explain with the help of a diagram
   • d) Explain the concept of absolute cost advantage with the help of two examples
   • Q.P. Code :00762
   • (3) APT as
   • Q.P. Code :00762
   • (S) ae

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