VVMs GOVIND RAMNATH KARE COLLEGE OF LAW, MARGAO-GOA

(AFFILIATED TO GOA UNIVERSITY)

B.A.LL.B. SEMESTER I
ONLINE SEMESTER END ASSESSMENT (SEA) MARCH, 2021
MINOR PAPER AI -ECONOMICS

The email ID to upload the paper: [email protected]

Duration: Two hours Maximum Marks: 50

GENERAL INSTRUCTIONS:

a) The candidate is required to answer ANY FIVE questions from Q. No. 1 to Q. No. 9.
Each question will carry 8 marks. Question No.10 is compulsory.
b) The duration of the examination is TWO HOURS from 10.00 am to 12.00 noon.
c) The answers will have to be in the candidate’s own handwriting.
d) The candidate shall write their correct Seat No., date and serially number every
hand written page of the answer sheet. The total no. of pages must also be written
on the first page of the answer sheet.
e) The candidate shall scan/take photograph of the answer sheets in serial order and
upload a SINGLE PDF DOCUMENT as an attachment to the e-mail ID.
f) The name of PDF document shall be the Seat No. of the candidate.
g) The email should reach the respective e-mail ID latest by 1.00 pm on the same day.
Any e-mail with answer script copies as referred above, received after 1.00 pm
shall not be accepted.

(5X8=40)

1. The problem of scarcity gives rise to the problem of choice. Explain

2. Explain the law of Supply.

3. Explain the consumer equilibrium using indifference curve.

4. Explain different types of elasticity of demand

5. Explain law of returns to scale with the help of suitable diagram.

6. Explain the features of a perfectly competitive market.

7. Explain the marginal productivity theory of distribution.

8. Discuss the risk bearing and uncertainty theory of profits.

9.Derive the long run average cost curve from the short run average cost curves. Explain
how they are related to each other

10. Write short notes on ANY TWO of the following: (2×5=10)

a. Methodology in economics

b. Scarcity rent & differential rent

c. Consumer surplus

d. Collective bargaining
 Paper I Subject Code: BL105 I Minor Paper A I (Economics)

BL105

Total No. ofPrinted Pages:!

B.A. LL.B (Semester-1)
EXAMINATION OCTOBER 2019
Minor Paper A I - (Economics)

[Duration :Three HoursJ [Max. Marks: 75(

Instruction I) Answer any Eight questions from questions No. I to 12

2) Q. no.l3 and Q.no.l4 are compulsory
3) Draw the appropriate diagrams wherever necessary

8X8=64
Q.l Explain the Central Problems that are faced by every Economy of a Country.

Q.2 Explain the increase and decrease in Demand with the help of a diagram

Q.3 Explain total utility and marginal utility with the help of a diagram.

Q.4 Explain the consumer's equilibrium with the help of indifference curve.

Q.S Discuss the Law of Increasing Returns to scale and Decreasing Returns to scale with the help of
Isoquants.

Q.6 Write in detail any 4 forms oflnternal economies of scale.

Q. 7 lllustrate the short run equilibrium of a firm under Monopolistic Competition.

Q.8 Explain any four types of Price Discrimination practiced by Monopolist.

Q.9 What is Loanable funds theory of interest? Explain the sources of supply of loanable funds

Q.l 0 Write in detail the Schumpeter's Innovation theory of Profit

Q.l J Write a note in detail on Social Cost - Benefit Analysis.

Q.l2 Explain the Kaldor - Hicks compensation Principle.

Q.l3 Write short notes on any two. 2X3=6

a) State the assumptions of Law of supply
b) Consumer's Surplus
c) Differentiate between Fixed cost and Variable Cost.

Q.14 Write short notes on any two 2X2.5=5

i) Features of Oligopoly
ii) Quasi rent
iii) Internal rate of return method

E264C84F29BOD6BF A4ED9E6D 12828870

 VVM's GOVIND RAMNATH KARE COLLEGE OF LAW, MARGAO-GOA

B.A.,LL.B. SEMESTER- I EXAMINATION, OCTOBER 2019

ECONOMICS-I: MICRO ECONOMICS

DURATION: 3 hours Total Marks: 75

Instructions: i) Answer ANY EIGHT from Q.1 to Q.12

ii) Question Nos. 13 and 14 are compulsory
(8 X 8 = 64)
1. Scarcity is the mother of all kinds of economic problems. Do you agree with this statement?
2. State the law of demand.
3. Explain the meaning and degrees of price elasticity of demand.
4. Explain the features of indifference curve with help of a graph.
5. Briefly explain the law ofVariable proportion.
6. Explain the feature of Monopolistic competition.
7. State and explain Schumpeter's innovation theory.
8. Explain Keynes theory of interest.
9. Explain the elements of social cost-benefit analysis.
10. Explain the Kaldor's compensation principle.
11. State and explain the problems of measuring welfare.
12. State and explain economies of scale.

13. Write short notes on ANY TWO ofthe following: (2 X 3 = 6)

a) Deductive method
b) Price discrimination under monopoly
c) Giffen goods

14. Write short notes on ANY TWO ofthe following: (2 X 2.5 = 5)

a) Market equilibrium
b) Differential rent
c) Payback period

*******************
 VVM'S G.R. KARE COLLEGE OF LAW, MARGAO -GOA

B.A.LL.B. SEMESTER I EXAMINATION, APRIL, 2019

ECONOMICS I : MICRO ECONOMICS

Duration: 3 Hrs Total Marks: 75

Instructions: i) Answer ANY EIGHT from Q.1 to Q.12

ii) Question Nos. 13 and 14 are compulsory

(8X 8 = 64)
1. Explain the nature and scope of Economics.
2. Explain law of demand.
3. Explain the meaning and degree of elasticity of demand.
4. Explain the features of indifference curve with help of a graph.
5. Briefly explain the law of variable proportion.
6. Explain the feature of perfect competition.
7. State and explain Schumpeter's innovation theory.
8. Explain Keynes theory of interest.
9. State and explain the elements of social cost-benefit analysis.
10. Explain the compensation principle.
11. State and explain the problems of measuring welfare.
12. Explain the Marginal productivity theory of distribution.

13. Write short notes on ANY TWO of the following: ( 2 X 3= 6)

a) Market equilibrium
b) Measures of monopoly power
c) Giffen goods

14. Write short notes on ANY TWO of the following: (2 X 2.5= 5)

a) Engle curve
b) Consumer surplus
c) Payback period

------------------x---------------------x---------------------
 WM'S GOVIND RAMNATH KARE COLLEGE OF LAW, MARGAO-GOA

B.A.LL.B SEMESTER-I EXAMINATION, APRIL 2018

ECONOMICS-I: MICROECONOMICS

DURATION: 3 HOURS TOTAL MARKS= 75

Instructions: i) Answer ANY EIGHT questions from Q. 1 to Q. 12

ii) Q. 13 and Q. 14 are compulsory

(8x8 = 64)

1) Explain the market equilibrium and role of price mechanism.

2) Explain the consumer equilibrium using indifference curve.
3) Explain different types of elasticity of demand.
4) Explain the law of variable proportions with help of diagram.
5) Explain various types of cost and their inter-relation.
6) Explain the equilibrium under the monopoly market.
7) Distinguish between monopolistic competition and oligopoly.
8) Explain marginal productivity theory.
9) Explain Ricardo's theory of rent.
10) Explain Schumpeter's Innovation theory ofProfit.
11) Explain Average Annual Rate ofRetum and Net Present Value.
12) Explain the Pareto's criteria of welfare.
13) Write short notes on ANY TWO of the following: (2 X 3 = 6)
a) Internal rate of return
b) Cost - benefit analysis
c) Economies of the scale

14) Write short notes on ANY TWO of the following: (2 X 2%::: 5)

a) Consumer surplus
b) Engel Curve
c) Monopoly power

---------------------------------------------------------------------------
 VVM'S GOVIND RAMNATH KARE COLLEGE OF LAW, MARGAO-GOA

B.A.LL.B SEMESTER-I EXAMINATION, OCTOBER 2018

ECONOMICS-I: MICRO ECONOMICS

DURATION: 3 HOURS TOTAL MARKS= 75

Instructions: i) Answer ANY EIGHT questions from Q. 1 to Q. 12

ii) Question No. 13 and 14 are compulsory

(8x8 = 64)

1. Define Economics. Outline the methodology in economics.

2. State the law of supply.
3. Explain indifference curve with a diagram and draw the indifference curve for perfect
---,
1 substitutes and perfect compliments.
4. What is price elasticity of demand? Give the various degrees of price elasticity of demand.
5. Briefly explain the law of returns to scale.
6. Explain the features of perfect competition and equilibrium of firm under perfect
competition.
7. What is meant by equilibrium price and equilibrium quantity? Explain with a diagram.
8. Explain the classical theory of-interest.
9. State and explain economies of scale.
10. Explain the elements of social cost-benefit analysis.
11. State and explain Schumpeter' s theory of innovation.
12. Highlight the Compensation principle given by Kaldor and Hicks.

13. Write short notes on ANY TWO of the following: (2 X 3= 6)

a) Engel curve
b) Inductive method
c) Isoquants

14. Write short notes on ANY TWO of the following: (2 X 2.5=5)

a) Payback period
b) Variable cost
c) Welfare economics
 VVM'S G.R.KARE COLLEGE OF LAW
B.A.LL.B. SEMESTER I EXAMINATION APRIL 2017

ECONOMICS- I: MICROECONOMICS

Duration: 3 Hours Total marks: 75marks

Instructions: 1) Answer any EIGHT from Q. No. 1 to Q. No.12 ·
2) Q. No.13 and 14 are compulsory ,,
(8X8=6~
1. Distinguish between cardinal and ordinal concepts of utility.

2. What is an indifference curve? What are the properties of indifference curve?

3. What is meant by consumer' s equilibrium? Show the consumer equilibrium using

Indifference curve.
4. Explain law ofvariable proportion in production with the help of a suitable diagram.

~ 5. Explain and illustrate the distinctioh between the following

.~·· '~{a) fixed cost and variable cost (b) actual cost and opportunity cost.
· .~.~:: ..
;

6. Explain and illustrate price and output determination by a monopoly firm in the short run.

7. Define monopolistic competition. How is monopolistic competition different from

perfect competition?
8. Explain the following

· (a) Average annual rate of return (b) Net Present Value

9. Critifally discuss Ricardo's theory of rent.

10. Examine the role played by trade unions in wage determination.

11. Disc.uss Schumpeter' s innovation theory of profits.

• "' ...
/ ') :; <.-··
__ / 12. Explain compensation principle of Kaldor and Hicks.

13. Write short notes on ANY TWO (2x3=6)

a) Giffen Goods
b) Quasi rent

c) Kinked demand curve

14. Write short notes on ANY TWO (2x2.5=5)

a) Cross elasticity

b) Consumer surplus

c) Marginal Rate of Substitution (MRS).

 VVM'S GOVIND RAMNATH KARE COLLEGE OF LAW, MARGAO-GOA

B.A.LL.B SEMESTER-I EXAMINATION, OCTOBER 2017

ECONOMICS-I

DURATION: 3 HOURS TOTAL MARKS __, 75

Instructions: i) Answer ANY EIGHT questions from Q. I to Q. 12

ii) Q. 13 and Q. 14 are compulsory

(8x8 = 64)

1) Explain the nature and scope of the economics.

2) Explain the consumer equilibrium using indifference curve.
3) Explain the properties of the indifference curve.
4) Explain the law of variable proportions with the help of diagram.
5) Explain economies of scale.
6) Explain the equilibrium under the perfect competition.
7) Explain the monopolistic competition.
8) Explain marginal productivity theory.
9) Explain Ricardo's theory of rent.
I 0) Explain Net Present Value method of calculating investments.
II) What is Welfare Economics? Explain the problems of measuring welfare.
I2) Explain the compensation principle ofKaldor and Hicks.
13) Write short notes on ANY TWO of the following: (2 x 3 = 6)
a) Engle curve
b) Iso-quant
c) Monopoly

14) Write short notes on ANY TWO ofthe following: (2 X 2Y:z = 5)

a) Administered Prices
b) Opportunity cost
c) Cardinal Utility
 .
/
Govind Ramnath Kare College of Law, Margao- Goa

F.Y.B.A LL.B (Hons) Semester I Examination, October 2016

ECONOMICS- I: MICROECONOMICS

Duration: 3 Hour "' 75

Total Marks:

Instructions: 1) Paper consists 14 questions.

2) Figures to the right indicate marks.

3) Q.No. 13 & Q.No. 14 are compulsory

Answer any 8 questions given below (Question Nos. 1 - 12)

1. Scarcity is the mother of all kinds of economic problems. Do you agree with this statement?

(8)

2. Explain the nature of economics as a positive and normative science. (8)

3. What is meant by equilibrium price and quantity? What factors cause a shift in equilibrium
point from its original position? {8)

4. Distinguish between income and substitution effects of a price change. Discuss the Hicksian
method of separating income and substitution effects-uf the price effect. (8)

5. What is production function? Distinguish between laws of returns to variable proportion and
laws of returns to scale. (8)

6. Explain the following cost concepts (8)

a) Fixed cost b) V ariabte cost c) Explicit cost d) Implicit cost

7. Define perfect competition? What are the characteristics of a perfectly competitive market? (8)

8. What is meant by price discrimination? Why do monopoly firms adopt discriminatory pricing
policy? (8)

9. Explain the basic elements of social cost benefit analysis . (8)

10. Give a critical account of the Keynesian liquidity preference theory of interest . (8)

11. Discuss Schumpeter' s innovation theory of profits. (8)

12. Define economic efficiency? Explain Pareto's three conditions for achievement of economic
efficiency. (8)
' -

13. Write short notes on any two (2x3=6)

a) Isoquant

b) Deductive me~h.od

c) Positive economics

14. Write short notes on any two (2x2.5=5)

a) Internal Rate of Return

b) Economies of scale

c) Cross elasticity
 -

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 VV:\I's G. H.. 1(:\RE COLLEGE OF LA. W, :YlARGAO-GO.\

B.A.,LL.B. (SEM 1) EXA:VUNATION, APRIL 2015

ECONOI'v1ICS- I

Ti me: 3 Hrs

Instructio ns

1. Answer any EIGHT questions from Qn. No 1 to Qn. No. 12 (8x8=64)

2. Qn. Nos. 13 & 14 are compulsory

i. What is meant by scarcity in Economics? Scarcity is the mother of all economic problems.
Discuss (8)

2. Explain the concepts of price, income and cross elasticity of demand. (8)

3. Explain the income effect and substitution effect with !he help of suitable diagram (8)

4. Explain the law of variable proportions in production and differentiate the stages of
production. (8)

..
5. Distinguish between fixed and variable cost and explain the relation between average and
marginal cost. (8)

6. Examine a firm's price output equilibrium under perfect competition in the short run (8)

7. Explain Marginal productivity theory of distribution (8)

8. Explain innovation theory of profit (8)

9. Critically examine Ricardian model of determination of land rent? (8)

l 0. State ;;md explain Keynes Liquidity Preference theory on interest

(8)

(8)

12. Explain Pareto's three conditions for achievement of economic efficiency (8)

?) r err a~:ve Economics

J) bo-quant

'.;; Consum(;r Surplus

 B.A.; LL.B. Semester I Examination Oct, 2014

Economics - I

Time: 3 Hrs Max Marks: 75

Instructions

1. Answer any EIGHT questions from Qn. No 1 to Qn. No. 12 (8x8=64)

2. Qn. Nos. 13 & 14 are compulsory

I. Explain deductive and Inductive methods of economic analysis (8)

2. What are the determinants of demand and how they influence the individual demand
(8)

3. Explain the properties of indifference curves (8)

4. Using indifference curve, show how price effect of a commodity is decomposed in to

income effect and substitution effect. (8)

5. What are the three stages of production function? Why production at stage two is
economically desirable. (8)

6. Explain the following concepts of cost: (8)

(a) Average Fixed Cost

(b) Average Variable Cost

(c) Average Total Cost

(d) Marginal Cost

7. How are price and output determined under monopoly? Explain the conditions under
which the monopoly discriminate the prices. (8)

8. What are the features of oligopoly? Explain with diagram the concept of kinked demand.

(8)
...
9. Profit is the reward for making innovations. Comment

10. Explain the Keynesian theory of interest. How is the Keynesian theory of interest (8)
different from the Classical theory?

11. Explain the method of calculating (a) NPV (b) IRR. What are the decision rules in the
two cases? (8)

12. Define economic efficiency? Explain Pareto's three conditions for achievement of
economic efficiency. (8)
13. Write short notes (any two) (2x3=6)

a) Budget line

b) Economy of scale

c) Positive economics

14. Write short notes (any two) (2x2.5=5)

a) Selling cost

b) Internal Rate of Return

c) Quasi rent
/

QUESTION PAPER-I

F.Y.BA.LL.B (Hons)
SEMESTER-I
TIME: 3 HOURS ECONOMICS- II MAX. MARKS: 75

Answer any 8 questions given below (Question ~os.1-12)

1. Explain the law of demand along with its assumptions and limitations. (_ ~)

2. Explain th~ concept of Indifference Curve and draw indifference curves for (~)
Perfect substitutes and perfect complements.

3. Explain the Laws of Returns to Scale. L<€)

4. Explain the determination of prices under Perfect Competition. L <l)

5. State the difficulties in the measurement of National Income. l g)

6. Discuss the inverse relationship between the rate of unemployment and the L~)
rate of increase in money wages with the help of Phillips curve.

7. Discuss the role of Public debt in the economic development of a country.

. .
8. Give a detailed explanation of the Monopoly form of market structure. {<'6)

9~ Discuss the causes of inflation. How can it be controlled? L~)

10.Explain consumer's equilibrium using Slutsky's Approach. lt)

11.Explain the concept of Deficit Financing and its effects.

12.Discuss the Income -Elasticity of demand.

L~)
13. Write short notes (any 2}
a) Giffen goods
b) Disposab le income
c) s'tagflation

. .
14. Write short notes (any 2}
a) Importance of Elasticity of demand
b) Demand -Push Inflation
c) GOP at factor cost & GOP at market prices

/
/
 QUESTION PAPER I

Govind Ramnath Kare College Of Law, Margao- Goa ·

F.Y.B.A LL.B (Hons) Semester I
Examination, October 2013
ECONOMICS- I~ : MICROECONOMICS

Duration: 3 Hour Total Marks: 75

Instructions: 1) Paper consists 14 questions.

2) Figures to the right indicate marks.
3) Q.No. 13 & Q.No. 14 are compulsory

Answer any 8 questions given below (Question Nos. 1 - 12)

1. Define Economics. Outline the methodology in economics. 8

2. Explain Indifference curve with diagram. Give its properties each with a diagram. 8

3. Briefly explain the Law of Returns to Scale. 8

4. Examine the degrees of Price Discrimination under monopoly with a neat diagram. 8

5. Explain the Classical Theory of Interest Rate. 8

6. Pay Back period method for analyzing investments. Explain. 8

7. Critically evaluate Pareto's criteria of welfare economics. 8

8. What is Price elasticity of demand? Give the various degrees of price elasticity of deinand. 8

9. Explain Differential rent with example. 8

10. What is Perfect Competition? Give the features ofPerfect Competition. 8

11. Explain Net Present Value method as method for analyzing investment. 8

12. Highlight the Compensation Principle given by Kaldor and Hicks. 8

P.T.O
13. Write short notes on any two

a) Positive Economics 3

b) Consumers Surplus. 3

c) Cost Benefit Analysis. 3

14. Write short notes on any two

a) Giffen Goods. 2.5

b) Scarcity Rent. 2.5 .

c) Interest. 2.5

********************