B.A.LL.B I (Semester II) (CBCS) Examination, 2017
ECONOMICS-I
GENERAL PRINCIPLES
Day Date: Saturday, 29-04-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
N.B. All questions are compulsory
Give diagrams schedules were ever necessary.
Figures to the eight indicate full marks.
Q.1 Multiple choice questions: 14
Total cast variable cost.
Marginal cost Fixed cost
Selling cost Advertising cost
Free enterprise economy is also called as
Socialistic economy Mixed economy
Capitalistic economy None of these
Who Introduced the concept of the monopolistic competition?
Prof. E.H. Chamberlin Prof. Keynes
Adam smith Dr. Marshall
In a monopoly a market, a firm is a
Price maker Price taker
Price checker None of these
Average cost is the cost of out-put.
Two units Total units
Per units Both and
Where is the head office of R.B.I.?
Solapur Kolkata
Mumbai None of these
"Treatise on political Economy" his theory published in
1903 1888 1803 1988
No shifting of taxation is known as
Direct tax Indirect tax
Both and None of these
Price discrimination is done by the producer in
Monopoly Perfect competition
Oligopoly Monopolistic competition
Page 1 of 2
SLR-G 7
10) Labour intensive technique of production means
More capital less labour
More labour l& less capital
Equal labour capital
None of these
11) Which of the following is direct tax?
Sales tax Service tax
Income tax Value added tax
12) A relationship between value of money and price level is
Direct Inverse
Both and None of these
13) Income employment theory is presented by
Prof. Schumpeter Prof. Say
Prof. J.M. Keynes Prof. Hawtray
14) Welfare is basically means
A state of happiness Wealth
Money None of these
Q.2 Define elasticity of demand? Explain the types of price elasticity of
demand?
14
Q.3 Define inflation? Explain the causes of inflation? 14
OR
Define direct indirect taxes. Explain merits demerits of direct
indirect taxes?
Q.4 Write short note on any two: 08
Low of demand
Features of perfect competition.
Fixed cost variable cost.
Explain the function of commercial banks 06
Q.5 Answer any 14
Utility analysis
Balance sheet of the bank
Deflation
Central bank
Mixed Economy
Features of underdeveloped economy
National income
Monopoly market
Say's Law market
10) Index number