BA Marathi And English SEM I ATKT ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q2 Each question carries equal (20) marks
2. Q3 Draw neat diagrams and use of examples wherever necessary
3. Q4 Use of simple calculator is allowed
4. Q1 Explain ANY TWO of the following : 20 marks
   • a) How does 'opportunity cost' affect decision making? Explain this with the help of two
   • b) Explain with the help of an example why rational people think on the margin
   • c) Benefits from exchange principle with the help of two examples
5. Q2 Examine ANY TWO of the following : 20 marks
   • a) Explain the difference between Micro Economics and Macro Economics
   • b) Explain the circular flow of income
   • c) Plot a graph for the following function and explain. Y = 14 + 5X
6. Q3 Attempt ANY TWO of the following : 20 marks
   • a) What is meant by price elasticity of demand? What are the types of price elasticity of
   • b) Explain market equilibrium with the help of a diagram
   • c) Given the supply schedule of three individuals, derive the market supply schedule and market supply curve : (in Quantity Quantity Quantity of
7. Q4 Attempt ANY TWO of the following : 20 marks
   • a) meant by Trade? Explain free trade policy
   • b) Explain the concept of absolute cost advantage Given two countries: India and Japan producing two goods TV and mobile phones, the cost of production is shown in the following table : needed to produce | unit of the
8. Q1 many unit of TV and Mobile Phones can the countries produce in 300 hours?
   • ii) Draw the production possibility curves for both these countries
9. Q5 Attempt ANY TWO of the following : Explain the principle of Responses to incentives 20 marks
   • b) Explain ‘Economist as Policy Advisor’?
   • c) is meant by market demand? Explain with the help of market demand curve
   • d) What is meant by Protective trade policy? Explain
10. Q2 (Ro) se
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    • G. fear : 20

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