Questions
Syllabus
Qns. By Syllabus

Semester

Subject

Year

Bachelors Level/First Year/Second Semester/Science bit/second semester/economics/syllabus wise questions

Bachelors In Information Technology

Institute of Science and Technology, TU

Economics (ECO155)

Year Asked: 2080, syllabus wise question

Consumer Choice: Indifference Theory
1.
Define price consumption curve (PCC). Derive the price consumption curve for Giffen goods with the help of indifference curve approach. [5]
2.
Explain the various properties of the indifference curve. [5]
Costs and Revenue
1.
Consider the following cost schedule: a) At TFC=120, compute TC, AFC, AVC, and ATC. b) Draw the graph of AFC, AVC, and ATC.

$\begin{array}{|c|c|c|c|c|c|c|c|c|}\hline \text{Output} & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\ \hline \text{TVC} & 0 & 50 & 90 & 120 & 140 & 175 & 230 & 310 \\ \hline \end{array}$
[5]
Demand, Supply and Price
1.
Define elasticity of supply. What are the various types of elasticity of supply? Explain with diagrams. [10]
2.
Consider the following demand schedule. i) Compute the income elasticity of demand at movement from B to C and C to B by the proportional method. ii) Compute the income elasticity of demand midway between B and C and C and B.

$\begin{array}{|c|c|c|c|c|c|}\hline \text{Combination} & A & B & C & D & E \\ \hline \text{Income (Rs)} & 0 & 2 & 4 & 6 & 8 \\ \hline \text{Demand (Units)} & 200 & 160 & 120 & 80 & 40 \\ \hline \end{array}$
[5]
Economic Issues and Concepts
1.
What are the features of a mixed economy? [5]
2.
Explain the concept of scarcity and choice in the decision-making process. [5]
Macroeconomic Policies
1.
Differentiate between expansionary fiscal policy and contractionary fiscal policy. [5]
Market Structure
1.
What is perfect competition market? How price and output are determined under it? [10]
2.
Show the relationship between AR and MR under the monopoly market with the help of a table and figure. [5]
National Product and its Measurement
1.
From the following data, calculate the national income.

$\begin{array}{|l|c|}\hline \text{Particulars} & \text{Rs. in million} \\ \hline \text{Gross fixed capital formation} & 300 \\ \text{Private final consumption expenditure} & 900 \\ \text{Net Export} & -50 \\ \text{Subsidies} & 50 \\ \text{Government final consumption expenditure} & 150 \\ \text{Indirect taxes} & 250 \\ \text{Change in stock} & 50 \\ \text{Consumption of fixed capital} & 50 \\ \text{Net factor income from abroad} & 50 \\ \hline \end{array}$
[5]
Production
1.
Define production function. Discuss the various features of the Cobb-Douglas production function. [10]