University of Lucknow 2007 B.A Economics , First - Question Paper

B.A ( Part I) exam 2007

Economics
1st Paper

Time Allowed : 3 Hours
Maximum Marks:50

Note: Total Number of ques. to be answered is Five. ques. no. one is compulsory.Attempt 1 ques. fom every unit.Each ques. of the unit carries 7.5 marks.


1.Explain the subsequent in brief: 20
(i) Distinguish ranging from micro economics and macro economics
(ii) legal regulations of equi-marginal utility
(iii) Price effect,income effect and substitution effect
(iv) Relation ranging from marginal cost and avg. cost
(v) Budget Line
(vi) Quasi Rent
(vii) Liquidity Trap
(viii)Limitations of income method of National Income calculation


UNIT I
2.Examine the definition of Economics provided by Robbins.
3.What are the main properties of indifference curves?Explain consumer's equilibrium with the help of indifference curve technique.


UNIT II
4.What are the iso-product curves?Explain the isoquahnt approach to analyse the equilibrium condtions of a producer.
5.Explain the different laws of production and their satges.

UNIT III
6.Define competition.Explain the equilibrium of the firm under perfect competition.
7.Explain the price discrimination under monopoly.Is monopoly price always higher than competitive price?

UNIT IV
8.Examine the Knight's theory of profit.
9.What are the main features of mixed economy?Examine the nature of Indian Economy.

Earning:   Approval pending.