A-3501 First Year B.B.A. (Sem. I) (CBCS) Examination March / April — 2015 Elements of Economics (New Course) Time : Hours] [Total Marks : 50 Instructions : a. Wi calaa ¢ Galant Rad Greed we wae andl, ‘Seat No. Fillup strictly the detalls of ge signs on your answer book Name ofthe Examination + LF.Y. B.B. A. (SEM. 1) (CBCS) Name of he Subject ‘| ELEMENTS OF ECONOMICS (NEW) Students Signature e-subjectcodeno. {3 5 ]f 0 Jf 4 | Seton No. (1,2...) [ Nil 2) Question No. 1 is compulsory. (3) Figures to the right side indicate full marks of question. 1 Answer in brief. 10 (1) State the central problems of an economy. 2) Define the Smithian definition of Economics. (3) What will be the cross elasticity of demand for the following products? (@) Car and Petrol. () Cheese and Pizza © Fan and Shoes @ Tea and Sugar (4) What is demand function? (5) State the features of trade cycles. 2 Discuss the merits and demerits of micro economics and 13 macro economics in detail. oR 2 (a) Differentiate the concepts of normative and positive 6 economics with suitable illustration. () Write an note on relationship of economics with other 7 subjects. A-3501] 1 [Contd....3 (a) Define the income elasticity of demand. Explain its 6 types with the help of diagrams. () What is price elasticity of demand? Discuss the factors 7 affecting it. OR 3 (a) Explain the determinants of supply. 6 (b) What is mean by supply? Examine the change and 7 shift in supply. 4 Write Short Notes on (Any Two) 14 (1) Economic V/s. Non economic activities. @) Consumer Survey method of demand fore (8) Phases of trade cycles. (4) Measures to control trade cycles. A-3501] 2 [1700]