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Posted By: Mala Member Level: Diamond Posted Date: 24 Dec 2007
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2007 Bangalore University Economics I Semester B.A./B. Sc. Examination, Nov./Dec. 2007 Question paper
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I Semester B.A./B. Sc. Examination, Nov./Dec. 2007
(Semester Scheme)
ECONOMICS-Paper-I
Micro Economics
Time : 3 Hours Max. Marks: 60
Instructions: a) Answers must be completely either in Kannada or in English.
b) Answers of Part A should be continuous.
c) Answers should be precise.
PART-A
(Conceptual)
I. Answer any 10 of the following in 2-3 sentences each. Each question carries 2 marks.
a) What is Micro Economics?
b) What is Mixed Economy?
c) Distinguish between positive and normative economics.
d) What do you mean by “Veblen effect”?
e) Give the meaning of cross elasticity of demand.
f) What is Consumers Surplus?
g) Mention four factors determining supply.
h) Distinguish between average revenue and marginal revenue.
i) What do you mean by price discrimination?
j) What is Equilibrium price?
k) What are selling costs?
l) What is quasi rent?
PART-B
(Analytical)
Answer any 5 of the following in 15-20 sentences each:
2) Briefly explain the law of diminishing marginal utility.
3) Explain the exceptions to the law of demand.
4) Explain briefly the role of price mechanism in a mixed economy.
5) Write a note on various internal economies.
6) Briefly explain the role of time element in determination of price.
7) Explain the features of Duopoly market.
PART-C
(Essay Type)
Answer any three of the following not exceeding four pages. Each question carrying 15 marks. (15x3=45)
8) What is Micro Economics? Discuss the merits and demerits of micro economics.
9) Explain the basic economic problems common to all economics.
10) What is Indifference Curve? Explain its property.
11) Explain the law of variable proportions.
12) Explain the features of perfect competition. How the price and output is determined under perfect competition?
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