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: 2081, syllabus wise question

Consumer Choice: Indifference Theory
1.
Define indifference curve. How a consumer attains equilibrium under indifference curve analysis? Explain. [10]
2.
Discuss the law of diminishing marginal utility with table and figure. [5]
3.
Derive the demand curve for the given goods with the help of price consumption curve. [5]
Costs and Revenue
1.
Consider the following cost schedule.
Output (Q)0123456789Total Cost (TC)200250254265270300350380400420\begin{array}{|c|ccccccccc|}\hline \text{Output (Q)} & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 \\ \hline \text{Total Cost (TC)} & 200 & 250 & 254 & 265 & 270 & 300 & 350 & 380 & 400 & 420 \\ \hline \end{array}
a. Compute TFC, AFC, AVC, AC and MC. b. Show the relationship between AC and MC. [5+0]
Demand, Supply and Price
1.
The market demand and supply function are given as:
Qd=500−5PQ_d = 500 - 5P
Qs=100+5PQ_s = 100 + 5P
a. Find the equilibrium price and output. b. If the indirect tax of Rs 8 per unit is imposed by the government what will be the new equilibrium price and output? [5+0]
2.
How price elasticity is measured by arc method? Explain. [5]
Economic Issues and Concepts
1.
How the concept of microeconomics is helpful in different sectors of the economy? Discuss. [5]
Macroeconomic Policies
1.
Explain the various instruments of monetary policy. [5]
Market Structure
1.
What are the features of monopolistic competition market? How to determine price and output under it in long period of time? [10]
National Product and its Measurement
1.
Calculate GDP at market price and National Income (NI) from the following data.
ItemsRsPersonal Consumption Expenditure2800Indirect Tax118Government Expenditure2000Closing Stock180Gross Private Domestic Fixed Investment1300Export1000Net Factor Income from Abroad−100Inputs1100Depreciation190Opening Stock105Subsidies70\begin{array}{|l|r|}\hline \text{Items} & \text{Rs} \\ \hline \text{Personal Consumption Expenditure} & 2800 \\ \hline \text{Indirect Tax} & 118 \\ \hline \text{Government Expenditure} & 2000 \\ \hline \text{Closing Stock} & 180 \\ \hline \text{Gross Private Domestic Fixed Investment} & 1300 \\ \hline \text{Export} & 1000 \\ \hline \text{Net Factor Income from Abroad} & -100 \\ \hline \text{Inputs} & 1100 \\ \hline \text{Depreciation} & 190 \\ \hline \text{Opening Stock} & 105 \\ \hline \text{Subsidies} & 70 \\ \hline \end{array}
[5]
Production
1.
Define production function. Explain the optimum employment of two variable inputs in production function. [10]
2.
Explain the concept of production possibility curve. Discuss its significance in economics. [5]