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Principles and App of Econ Dec 1999

This document is an exam for a third semester BE (Computer Engineering) course on Principles and Applications of Economics. It contains 8 questions ranging from 2 to 20 marks each. Question 1 has 10 true/false statements to analyze with brief reasoning. Question 2 asks to critically examine welfare centered definitions of economics. Question 3 explains the law of diminishing marginal utility. Question 4 covers elasticity of demand - how it is measured and applications. Question 5 discusses division of labor merits and demerits. Question 6 explains fixed, variable, average and marginal costs. Question 7 compares perfect competition to monopoly and monopolistic competition. Question 8 has short notes on two of Indian economy features, privatization or demand forecasting.

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58 views

Principles and App of Econ Dec 1999

This document is an exam for a third semester BE (Computer Engineering) course on Principles and Applications of Economics. It contains 8 questions ranging from 2 to 20 marks each. Question 1 has 10 true/false statements to analyze with brief reasoning. Question 2 asks to critically examine welfare centered definitions of economics. Question 3 explains the law of diminishing marginal utility. Question 4 covers elasticity of demand - how it is measured and applications. Question 5 discusses division of labor merits and demerits. Question 6 explains fixed, variable, average and marginal costs. Question 7 compares perfect competition to monopoly and monopolistic competition. Question 8 has short notes on two of Indian economy features, privatization or demand forecasting.

Uploaded by

api-3782519
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Totil' No. of Questions: 8 ] ( Total No.

of Printed Pages : 2

475/99

B. E. (Third Semester) EXAMINATION, Dee., 1999 (New


Scheme)
(Computer Engg.)
PRINCIPLES AND APPLICATIONS OF ECONOMICS (HUM
- 201- C)
) Time: Three Hours J [ Maximum Marks: 100 (
Minimum Pass Marks : 40
Note: Attempt five questions in all, however Q. No. 1 is
CQmpulsory.
1. Which of the foUowing statements are correct and which are
incorrect ? Give reasons in brief for your answers. (Attempt
any ten) : 2 each (a) According to Alferd MlirshaU
Economics is the
science which is related with the problem of choice. (b)
Micro Economics deals with aggregates of the economy. (c)
Total utility is maximum, \\-hen marginal utility is negative.
(d) Contraction of demand is the result of decrease in the
income of purchaser.
(e) In case of an inferior good, the i.-1come elasticity of
demand is zero.
(I) Internal economies accrue to all the firms irrespective of
any increase in scale of production.
(g) Division of laboUT is not rdated to the size of the firm.
P. T. O.
,

(2)
. .
t
in production.
(i) Globlisation only refers to allowing more experts. I
(j) There is ltlI inverse relationship between price and the
supply of the commodity.
.t
I
(
(k) Under perfect competition, the firms are the price makers.
(I) Monopolistic competition is the most prevailing form of
I
I
I
market structure.
2. Critically examine the welfare centred defmitions of
Economi,cs. 20
3. State and explain the law of diminishing marginal utility with
its practical importance and application. 20
4. Explain the concept of elasticity of demand. How is elasticity
of demand measured ? Mention the various areas of the
applicatiun of this concept. 20
5. What do- you understand by division of labour ? Explain in
brief the merits and demerits of division of labour. 20
6. Explain th~ terms fIxed cost, variable cost, average cost and
marginal cost and aLso explain the relationship between these
with short run. 20
7. Explain in brief the main features of the perfect competition
and monopoly. How perfect competition differs from
monopolistic competition ? 20
8.Write short notes on any two of the following: 10 each
(a) Features of indian Economy
(b) Privatisation: its merits and demerits (c)
Demand iorccastlIlg
(d) Nature of economic laws
475/99 1,900

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