Saurastra University 2006 B.A Economics I - Question Paper

Instructions : (1) All ques. carry equal marks.
(2) Make diagrams where needed.


1 explain the nature and scope of Economics.

OR

Critically explain the definition of Economics as provided by Robbins.

2 Mention the equilibrium of a firm in the short run in perfect competition with the help of diagram.

OR

Mention the kinds of price elasticity of demand. explain the factors affecting price elasticity of demand.

3 (a) provide meaning of utility and discuss its characteristics.
(b) discuss the concept of consumer's surplus.

OR

(a) discuss with curve the legal regulations of diminishing return.
(b) discuss the equilibrium of monopoly firm.

4 (a) discuss the Modern Theory of Rent.
(b) discuss the equilibrium of Monopoly firm.

OR

(a) discuss characteristics of Monopolistic competition.
(b) Differentiate clearly Micro and Mecro economics.

5 Write Short Note (Any two)

(1) Firm and Industry
(2) Marginal and avg. cost
(3) Economic activity and Non-economic activity
(4) Importance of laws of Economics
(5) Quasi Rent

Earning:   Approval pending.