Exam Details
| Subject | principles of economics (minor) | |
| Paper | ||
| Exam / Course | b.a. ll.b. | |
| Department | ||
| Organization | Hidayatullah National Law University | |
| Position | ||
| Exam Date | November, 2016 | |
| City, State | chhattisgarh, raipur |
Question Paper
END TERM EXAMINATION, NOVEMBER 2016
B.A.LL.B. (HONS.)
SEMESTER-I
Principles of Economics (Minor)
Max. Marks: 60 Time Allowed: 3:00 Hrs.
Note: Answer five questions including Question No. 1 which is compulsory. The number of marks
carried by each question is indicated at the end of the question.
1. Answer the following (each answer should be in approximately 100 words): (Marks 2×10=20)
a. Marginal rate of technical substitution
b. Equilibrium Price
c. Unitary Elastic demand
d. 2nd degree of price discrimination
e. Net Interest
f. Normative Economics
g. Demand- pull inflation
h. Government Expenditure
i. Extensive cultivation
j. Opportunity Cost
2. Explain the concept of constant returns to scale with the help of isoquants. (Marks 04)
Calculate price elasticity of demand for the following accompanying table by percentage
method, total expenditure method and arc method. (Marks 06)
Price (in Rs.) Quantity (in units)
6 10
5 12
3. Give reasons for the following (Marks 2×5=10)
a. Supply of perishable goods is inelastic.
b. An IC cannot touch either axis.
c. Scarcity definition is not applicable in rich countries.
d. A firm under perfect competition is the price taker.
e. Law of demand is not applicable in case of speculation of shares.
4. How the equilibrium of a firm under monopoly will be determined by TR-TC approach?
(Marks 10)
5. How the following will be determined:- (Marks 5×2=10)
a. Rent by Modern theory of Rent
b. Wage by Neo-classical theory of Wages.
6. Explain the calculation of National Income by output and income method. (Marks 10)
7. Write short notes on any two of the following: (Marks 5×2=10)
a. Internal and External Economies of Scale
b. Nature and scope of Economics
c. AC curve
B.A.LL.B. (HONS.)
SEMESTER-I
Principles of Economics (Minor)
Max. Marks: 60 Time Allowed: 3:00 Hrs.
Note: Answer five questions including Question No. 1 which is compulsory. The number of marks
carried by each question is indicated at the end of the question.
1. Answer the following (each answer should be in approximately 100 words): (Marks 2×10=20)
a. Marginal rate of technical substitution
b. Equilibrium Price
c. Unitary Elastic demand
d. 2nd degree of price discrimination
e. Net Interest
f. Normative Economics
g. Demand- pull inflation
h. Government Expenditure
i. Extensive cultivation
j. Opportunity Cost
2. Explain the concept of constant returns to scale with the help of isoquants. (Marks 04)
Calculate price elasticity of demand for the following accompanying table by percentage
method, total expenditure method and arc method. (Marks 06)
Price (in Rs.) Quantity (in units)
6 10
5 12
3. Give reasons for the following (Marks 2×5=10)
a. Supply of perishable goods is inelastic.
b. An IC cannot touch either axis.
c. Scarcity definition is not applicable in rich countries.
d. A firm under perfect competition is the price taker.
e. Law of demand is not applicable in case of speculation of shares.
4. How the equilibrium of a firm under monopoly will be determined by TR-TC approach?
(Marks 10)
5. How the following will be determined:- (Marks 5×2=10)
a. Rent by Modern theory of Rent
b. Wage by Neo-classical theory of Wages.
6. Explain the calculation of National Income by output and income method. (Marks 10)
7. Write short notes on any two of the following: (Marks 5×2=10)
a. Internal and External Economies of Scale
b. Nature and scope of Economics
c. AC curve
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