Gujarat University 2007 B.A FA-06 Economics -I (Main) (Old ) - Question Paper

FA-06
Economics Paper-I (Main)
(Old Course)

Seat No. :

Time : three Hours] [Max. Marks : 70


Instructions : (1) Each ques. carries equal marks.
(2) Use illustrations and diagrams if necessary.


1. What is the meaning of human wants ? define the different characteristics of human wants.
OR

1. (a) Explain the concept of utility and define the kinds of utility.
(b) Describe the characteristics of wealth.

2.
(a)
What is land ? State its characteristics.
(b) Define labour and define its characteristics.
OR
2. Explain the legal regulations of demand and point out its exceptions.


3. Explain the legal regulations of supply and point out its exceptions.
OR
3. What is Market Price ? How is it determined ? discuss with help of diagrams.


4. (a) Describe the characteristics of perfect competition.
(b) Describe the functions of a market.
OR
4. What is Money ? define the functions of money.


5. Describe the functions of a Commercial Bank.
OR
5. Write short notes (any two) :
(1) Causes of income inequality. (2) Per capita income.
(3) Types of division of labour (4) Limitations of barter-system. (5) Gross national product.

Earning:   Approval pending.