Annamalai University 2007 B.A Economics 550 " Micro Economic " Part III III "" - Question Paper
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Name of the Candidate :
4 0 3 3 B.A. DEGREE EXAMINATION, 2007
(ECONOMICS)
(FIRST YEAR)
(PART-III)
(PAPER - III)
(Including Double Degree )
December ] [ Time : 3 Hours
Maximum : 100 Marks
Answer any FIVE questions.
All questions carry equal marks.
1. Define micro economics. What is its place in economic theory ?
2. What is an indifference curve ? Give its assumptions and properties.
3. What is price elasticity of demand? Explain the methods of measurement of it.
4. Examine the role and functions of an entrepreneur in a capitalist economy.
5. Critically examine the Malthusian theory of population. Is it applicable to India ?
6. What are Internal and External economies ? Discuss relative merits of large scale and small scale production.
7. State clearly the law of variable proportions. Illustrate it diagrammatically.
8. Distinguish between short run and long run cost. Discuss the nature of short run cost curves with a suitable diagram.
9. What do you understand by perfect competition ? How is equilibrium price determined under perfectly competitive market ?
10. Rent is paid for the original and indestructible powers of the soil. - Explain.
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