B.A. LL.B. (Hons) 5 Year Course - Economics Question Paper MDU 2024

9665

B. A. LL. B. (Hons.) 5 Year Course
1st Semester
Examination – December, 2024

ECONOMICS–I

Paper : 105/1705

Time : Three Hours [ Maximum Marks : 80 ]

Note :

Attempt four questions from Unit-I to IV, selecting one question from each Unit. These questions shall carry 14 marks each. Unit-V is compulsory and each question in this Unit shall carry 3 marks.

UNIT – I

1. Examine the nature of economic laws. Point out the difference between economic laws and laws of physical sciences.

2. Define mixed economy. What are the features of mixed economy with reference to Indian economy ?

UNIT – II

3. Explain the term price elasticity of demand. How can it be measured ?

4. Write a note on “Production Function”.

UNIT – III

5. Explain the concepts of total revenue, average revenue and marginal revenue.

6. Distinguish between market price and normal price. How market price is determined ?

UNIT – IV

7. Explain various concepts of National Income.

8. What is Rural Money Market ? Describe the defects of Rural Money Market in India.

UNIT – V

9. Compulsory question :

(a) Relation between economics and law (three points)
(b) Extension and increase in demand
(c) Factors affecting price elasticity of demand
(d) Relationship between average cost and marginal cost
(e) Gross and pure interest
(f) Define monopoly
(g) Complex division of labour
(h) Product differentiation