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BAEC-101/EC-01: Micro Economic/Theory of Micro Economics

This document contains an examination for a course in Micro Economics/Theory of Micro Economics. It is divided into 3 sections. Section A contains 4 long answer questions worth 19 marks each, and students must answer 2 questions. Section B contains 8 short answer questions worth 8 marks each, and students must answer 4 questions. Section C contains 10 objective/multiple choice questions worth 1 mark each, and all questions are compulsory. The document provides instructions for all sections and lists the relevant questions to be answered in sections A and B.

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Abhishek Kumar Sharma
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587 views8 pages

BAEC-101/EC-01: Micro Economic/Theory of Micro Economics

This document contains an examination for a course in Micro Economics/Theory of Micro Economics. It is divided into 3 sections. Section A contains 4 long answer questions worth 19 marks each, and students must answer 2 questions. Section B contains 8 short answer questions worth 8 marks each, and students must answer 4 questions. Section C contains 10 objective/multiple choice questions worth 1 mark each, and all questions are compulsory. The document provides instructions for all sections and lists the relevant questions to be answered in sections A and B.

Uploaded by

Abhishek Kumar Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 8

Total Pages : 8 Roll No. ......................

BAEC-101/EC-01
Micro Economic/Theory of Micro Economics

Bachelor of Arts (B.A.-10/12/16/17)

First Year Examination, 2019 (June)

Time : 3 Hours] Max. Marks : 80

Note : This paper is of Eighty (80) marks divided into three


(03) sections A, B and C. Attempt the questions
contained in these sections according to the detailed
instructions given therein.

SECTION–A/
(Long Answer Type Questions)/

Note : Section 'A' contains four (04) long answer type


questions of Nineteen (19) marks each. Learners are
required to answer any two (02) questions only.
(2×19=38)

BAEC-101/EC-01
S-380-BAEC-101 EC-01 [P.T.O.
P.T.O.
1. Explain the meaning and assumptions of indifference curve
analysis. What are the properties of indifference curves ?

2. Explain the revealed preference theory of consumer


behaviour.

3. Define perfect competition. Show how equilibrium is


attained in both short-run and long-run periods by a
competitive firm ?

4. “Profit is payment for uncertainty bearing”. Discuss.

BAEC-101/EC-01
S-380-BAEC-101 EC-01 [2
2]
SECTION–B/

(Short Answer Type Questions)/

Note : Section 'B' contains eight (08) short answer type


questions of eight (08) marks each. Learners are required
to answer any four (04) questions only. (4×8=32)

1. Explain briefly the wantlessness definition of Economics.

2. Explain the relationship between marginal utility and total


utility.

3. Explain the features of Iso-product curves.

BAEC-101/EC-01
S-380-BAEC-101 EC-01 [3
3] [P.T.O.
P.T.O.
4. What do you mean by consumer's surplus ?

5. Explain the concept of Pareto optimum in brief.

6. Distinguish between internal and external economics.

7. Discuss the quasi-rent.

8. Define nominal wage and real wage. What are the main
determinants of real wages ?

BAEC-101/EC-01
S-380-BAEC-101 EC-01 [4
4]
SECTION–C/

(Objective Type Questions)/

Note : Section 'C' contains ten (10) objective type questions


of one (01) mark each. All the questions of this section
are compulsory. (10×1=10)

Choose the correct answer.

1. Who wrote the “Wealth of Nations” ?


(a) Karl Marx (b) Adam Smith
(c) D. Ricardo (d) None of these.

2. The slope of indifference curves represents


(a) Price Ratio (b) Factors substitution
(c) Diminishing MRS (d) None of these.
BAEC-101/EC-01 [5] [P.T.O.
S-380-BAEC-101 EC-01 5 P.T.O.
3. If the demand curve is parallel to Horizontal (x-axis), then
demand will be
(a) More elastic (b) Perfectly inelastic
(c) Perfectly elastic (d) Less elastic.

4. The first condition of a firm being in equilibrium is


(a) AR = AC (b) TR = MC
(c) AR = MR (d) MR = MC.

AR = AC TR = MC

AR = MR MR = MC

BAEC-101/EC-01
S-380-BAEC-101 EC-01 [6
6]
5. Price discrimination is the characteristics of :
(a) Perfect competition (b) Imperfect competition
(c) Monopoly (d) None of these.

6. Under monopoly, a firm will always earn in the long period :


(a) Abnormal profit (b) Normal profit
(c) Loss (d) Market profit

7. According to Keynes, the demand of money for speculative


purposes will depends upon :
(a) Income (b) Role of interest
(c) Both (a) and (b) (d) None of these.

BAEC-101/EC-01
S-380-BAEC-101 EC-01 [7
7] [P.T.O.
P.T.O.
8. Which relation is correct for quasi rent ?
(a) TR–TVC (b) AC–AVC
(c) TR–TC (d) P–AC.

TR–TVC AC–AVC
TR–TC P–AC.

9. In welfare economics, social welfare function was given by :


(a) Bergson-Samuelson (b) Hicks
(c) Kaldar (d) Scitovsky.

10. Lonable funds theory of interest is known as :


(a) Classical theory
(b) Keynesian theory
(c) Marginal productivity theory
(d) Neo-classical theory.

BAEC-101/EC-01
S-380-BAEC-101 EC-01 [8
8]

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