Calicut University 2006 B.Tech Information Technology ECONOMICS - Question Paper

C 20271
EIGHTH SEMESTER B.TECH. (ENGINEERING) DEGREE
EXAMINATION, JUNE 2006
Time : 3 Hours
IT2K 801-ECONOMIS

Maximum : 100 Marks

Part A
ans all ques..
every ques. carries five marks.
1(a.) Critically examine the Robbin's definition of econoanacs.

(b) State the major problems and issues in economics. Does economics solve practical issues ?

(c) What are the factors determining the elasticity of deemed ? provide an example for cross elasticity
of demand.

(d) How price for a product is determined in it marker ? discuss the price determination concept
with the help of a schedule and diagram.

(c) Define money. elaborate its primary functions ?

( f) Define Inflection and deflation. Write a brief note on Philip's curve.

(g) What is meant by International Trade' State the different assumptions of classical theory of
international Trade

(h) Distinguish ranging from Balance of payment and Balance of Trade.
(8x5=40 marks)

Part B
ans all ques..
every ques. carries 15 asks

2. (a) What is meant by utility ? State the kinds of utility. Distinguish ranging from utility and
satisfaction. explain the legal regulations of Diminishing marginal utility with the help of a tabulation,
graph and its applications.
Or
(b) Define effixiency. Illustrate the tech. and Economic efficiency. explain the ways to impecore
produ 7.

3. (a) What do you mean by elasticity of supply ? explain the various kinds of supply elasticities
with illudtrationa and graphs.
Or
(b)St.ate the salient features of Monopolistic competic:on and discuss the equilibrium of the
i frm under monopolistic competition

4. (a)Who is a Sole Trader the merits and demerits of a tole Trading Business.
Or
(b) describe inflation. elaborate :ts kinds ? discuss the demand pull and cost push infta*_i3n concepts
with necessary diagrams and effects of inflation.

5. (a) What is absolute in production ? provide an illustration. discuss the Ohlin's theory of
International Trade and Modern Theory of International Trade.
Or
(b)Briefly discuss the Social and Economic objectives of Taxation and bring out the characteristics
of a good tax system.

Earning:   Approval pending.