B.A. LL.B. (Semester II) (CBCS) Examination Mar/Apr-2018
ECONOMICS I (General Principles)
Time: 2½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Neat diagrams should be drawn wherever necessary. Figures to the right indicate full marks.
Q.1
Multiple choice questions:
14
Marshall puts emphasis on rather the wealth.
Good
Man
Utility
None of these
"Treatise on political Economy" his theory published in
1983
1903
1803
1883
No shifting of taxation is known as
Direct tax
Indirect tax
Both and
None of these
The concept of Monopolistic Competition is puts forwarded by
Lord Keynes
Joan Robinson
Prof. E.H. Chamberlin
Dr. Marshall
Price discrimination is done by the producer in
Monopoly
Perfect competition
Oligopoly
Monopolistic competition
Apex bank is
Commercial Bank
Central Bank
Co-operative Bank
S.B.I.
Capital intensive technique of production means
Equal labour capital
More capital less labour
More labour less capital
None of these
According to inflation is a phenomenon where "too much money chases too few goods."
Prof. Hawtrey
Prof. Crowther
Prof. J.M. Keynes
Prof. Coulborn
In a perfectly competitive market, a firm is a
Price marker
Price taker
Price checker
Price controller
10) Prof. Law of Market stated that, "Supply creates
Production
Expenditure
Demand
Out-put
Page 2 of 2
SLR-HF-4
11) Welfare is basically means
A state of happiness
Wealth
Money
None of these
12) A cost of plant and machinery is in short period.
Variable
Fixed
Infinite
Zero
13) A perfectly elastic demand curve is
Parallel to axis
Parallel to axis
Downward sloping
Upward sloping
14) Which of the following is not a primary function of commercial bank?
Credit creation
Advancing of loans
Accepting deposits
Collection of divided
Q.2
Define Inflation? What are the causes of inflation?
14
Q.3
Define direct indirect taxes? Explain the merits demerits of Indirect taxes.
14
OR
Define elasticity of demand? Explain the types of price elasticity of demand.
Q.4

Write short answer on any two:
08
Features of Perfect Competition.
Explain the fixed variable cost.
State explain the law of demand.

Functions of commercial banks.
06
Q.5
Write short answers on Any seven:-
14
Fiscal Policy
Index number
Central bank
Balance sheet of the bank
Mixed Economy
Law of Market
Deflation
Economic as a Science
Utility analysis
Money wages Real wages