Gujarat University 2007 B.A Economics (F.S.) - Question Paper

Elementary Economics
Paper-I
(New Course)
Time : three Hours] [Max. Marks : 70
Instruction : All ques. carry equal marks.
1. Critically examine the definition of Economics as provided by Robbins. (14)
OR
(a) Subject matter of Economics
(b) Value and Price
2. discuss the legal regulations of Supply with the help of diagram. (14)
OR
(a) legal regulations of Diminishing Marginal Utility
(b) Increase in Demand and Expansion of Demand
3. discuss the salient features of Land and Labour as a factor of production. (14)
OR
discuss the process of price determination in a perfectly competitive market.
4. explain in detail the functions of commercial bank. (14)
OR
(a) avg. Cost and Marginal Cost
(b) Functions of Central Bank
5. What do you mean by ‘Capitalism’ ? discuss the main features of capitalist economic
system. (14)
OR
Write short notes on any two.
(a) Economic activity
(b) kinds of Money
(c) avg. revenue and Marginal revenue
(d) kinds of goods
(e) Features of Mixed Economic System
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Earning:   Approval pending.