Exam Details
| Subject | economics (minor): indian economy | |
| Paper | ||
| Exam / Course | b.a. ll.b. | |
| Department | ||
| Organization | Hidayatullah National Law University | |
| Position | ||
| Exam Date | November, 2017 | |
| City, State | chhattisgarh, raipur |
Question Paper
I.D. END TERM EXAMINATION, NOVEMBER 2017 B.A.LL.B. (HONS.) SEMESTER-I Economics Principles of Economics Max. Marks: 60 Time Allowed: 3:00 Hrs. Note: Answer five questions including Question No. 1 which is compulsory. The number of marks carried by each question is indicated at the end of the question.
1. Answer the following (each answer should be in approximately 100 words) (Marks a. Define micro and macro economics. b. How Economics is a science? c. What do you understand by demand pull inflation? d. What is the difference between explicit and implicit cost? e. What do you mean by law of supply? f. What is the relation between AP and MP? g. What is the difference between extension and increase in demand? h. Differentiate between substitute and complimentary good. i. What is Quasi Rent? j. What do you understand by Gross Domestic Product and Gross National Product?
2. Give reasons for any two of the following:- (Marks 5×2=10) a. Marginal cost curve is "U" in shape. b. TP increases even when MP is decreasing. c. AFC curve is rectangular hyperbola. d. RBI increases CRR for controlling inflation. e. AR curve under monopolistic competition is more elastic than AR curve under monopoly?
3. Economics is one side study of wealth and on the other and more important side a part of the study of man. Critically examine the statement. (Marks 10)
4. Critically discuss the Ricardian theory of rent. (Marks 10)
5. Discuss the price and output determination under perfect competition with the help of diagram. (Marks 10)
6. Discuss Production, Income and Expenditure methods of estimation of national income of India. (Marks 10)
7. Write short notes on any two of the following:- (Marks 5×2=10) a. Central Bank b. Returns to scale c. Law and Economics
1. Answer the following (each answer should be in approximately 100 words) (Marks a. Define micro and macro economics. b. How Economics is a science? c. What do you understand by demand pull inflation? d. What is the difference between explicit and implicit cost? e. What do you mean by law of supply? f. What is the relation between AP and MP? g. What is the difference between extension and increase in demand? h. Differentiate between substitute and complimentary good. i. What is Quasi Rent? j. What do you understand by Gross Domestic Product and Gross National Product?
2. Give reasons for any two of the following:- (Marks 5×2=10) a. Marginal cost curve is "U" in shape. b. TP increases even when MP is decreasing. c. AFC curve is rectangular hyperbola. d. RBI increases CRR for controlling inflation. e. AR curve under monopolistic competition is more elastic than AR curve under monopoly?
3. Economics is one side study of wealth and on the other and more important side a part of the study of man. Critically examine the statement. (Marks 10)
4. Critically discuss the Ricardian theory of rent. (Marks 10)
5. Discuss the price and output determination under perfect competition with the help of diagram. (Marks 10)
6. Discuss Production, Income and Expenditure methods of estimation of national income of India. (Marks 10)
7. Write short notes on any two of the following:- (Marks 5×2=10) a. Central Bank b. Returns to scale c. Law and Economics
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