ECONOMICS PAPER - I
TIME: 3 HOURS (English Version) Max. Marks: 100
SECTION - A
I. i) Answer any THREE out of the following five questions.
ii) Every answer may be limited to 40 lines.
iii) Each question carries TEN marks.
3 × 10 = 30
1. Explain the law of diminishing marginal utility, what are its limitations.
2. Explain the law of variable proportions with the help of diagram.
3. Define monopoly. How does a monopolist fix price for his product?
4. Define national income. Explain the various methods of calculating national income.
5. Explain the Keynesian theory of employment.
SECTION - B
II. i) Answer any EIGHT out of the following twelve questions.
ii) Every answer may be limited to 20 lines.
iii) Each question carries FIVE marks.
8 × 5 = 40
6. Explain Samuelson's growth definition of Economics.
7. Explain the law of demand.
8. Write the difference between Cardinal and Ordinal utility approaches.
9. Explain various forms of price elasticity of demand.
10. Explain the importance of the concept of elasticity of demand.
11. What are the properties of indifference curves?
12. What is supply? What are the determinants of supply?
13. Define rent and explain Ricardian theory of rent.
14. "Supply creates its own demand" comment on the statement.
15. Describe the various methods of redemption of public debt.
16. Explain any five functions of money.
17. Enumerate the measures for control of inflation.
SECTION - C
III. i) Answer any FIFTEEN out of the following twenty.
ii) Every answer may be limited to 5 lines.
iii) Each question carries TWO marks.
15 × 2 = 30
18. Intermediary goods 19. Partial Equilibrium
20. Macro Economics 21. Consumer's Equilibrium
22. ISO- Utility Curve 23. Budget or Price-line
24. Production Function 25. Diseconomies
26. Opportunity Cost 27. Perfect Competition
28. Market Period 29. Price discrimination
30. Real Wages 31. Economic Rent.
32. Percapita Income 33. Depreciation
34. Laissez Faire 35. Liquidity
36. Overdraft 37. Reserve Bank of India
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