Nalanda Open University
Annual Examination 2017
B.A. Economics (Subsidiary), Part-I
Paper-I (Micro Economics)
Time: 3.00 Hrs. Full Marks: 80
Answer any Five questions. All questions carry equal marks.
1. critically examine the definition of economics given by Robbins.
2. Define elasticity of demand. Discuss the methods of its measurement.
3. Differentiate between micro and macro economics. Are the complementary to each
other?
4. Exaplain consumer's equilibrium with the help of indifference curve.
5. How is price determined under perfect competition?
6. Discuss the law of variable proportions.
7. Examine the Liquidity preference theory of interest.
8. Throw light on risk and uncertainty bearing theory of profit.
9. Critically discuss Marshallian theory of consumer's surplus.
10. Discuss the demand and supply theory of wages.