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

(New Course)
Time : three Hours] [Max. Marks : 70
Instructions : (1) every ques. carries equal marks.
(2) Use illustrations and diagrams if necessary.
1. explain critically Prof. Robin’s definition of Economics.
OR
1. Distinguish ranging from the subsequent (any two) :
(1) Value and Price
(2) Monetary Income and Real Income
(3) Goods and Services
2. describe the demand. discuss the legal regulations of demand and point out its exceptions.
OR
2. discuss with help of diagrams extension and contraction and increase and reduce in supply.
3. What is Market Price ? How is it determined ? discuss with help of diagram.
OR
3. discuss the concept of division of labour. explain its advantages and disadvantages.
4. (a) define the functions of a Market.
(b) discuss the concept of Fixed Cost and Variable Cost.
OR
4. What is Money ? define the functions of money.
5. define the functions of a Commercial Bank or Central Bank.
OR
5. Write short notes (any two) :
(1) Characteristics of Capitalism.
(2) Characteristics of Mixed Economy.
(3) Characteristics of Land.
(4) Characteristics of Wealth.

Earning:   Approval pending.