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P PP PP PP PA AA A
A AA AA AA AP PP P
P PP PP PP PE EE E
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X XX XX XX XI II I
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C CC CC CC CO OO O
O OO OO OO ON NN N
N NN NN NN NO OO O
O OO OO OO OM MM M
M MM MM MM MI II I
I II II II IC CC C
C CC CC CC CS SS S
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0 00 00 00 01 11 1
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M MM MM MM MI II I
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C CC CC CC CR RR R
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Q.1. Explain with the help of a schedule & a diagram the law of diminishing marginal utility
& mention its assumptions.
Q.2. Compare Marshalls and Robbins definition of economics.
Q.3. Describe the importance of the study of economics.
Q.4. (a) Explain the law of demand with the help of a schedule and a diagram.
(b) Mention the assumptions of the law of demand.
Q.5. State and explain the salient features of the definition of economics given by Prof.
Marshall.
Q.6. (a) What is meant by production of wealth? Name the factors of production.
(b) Explain marginal productivity theory.
(c) Explain the relative importance of the factors of production.
Q.7. Differentiate between theoretical and applied discuss the relationship between the two.
Q.8. What are the methods of measuring the elasticity of demand? Explain diagrammatically.
Q.9. Explain internal and external economics.
Q.10. What are the merits and demerits of large scale production?
Q.11. Explain the characteristics of perfect competition.
Q.12. Explain with the help of diagrams, the equilibrium of a firm under perfect competition in
the short run.
( (( (
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M MM MM MM MA AA A
A AA AA AA AC CC C
C CC CC CC CR RR R
R RR RR RR RO OO O
O OO OO OO O E EE E
E EE EE EE EC CC C
C CC CC CC CO OO O
O OO OO OO ON NN N
N NN NN NN NO OO O
O OO OO OO OM MM M
M MM MM MM MI II I
I II II II I C CC C
C CC CC CC CS SS S
S SS SS SS S) )) )
) )) )) )) )
Q.1. Explain the various concepts of National Income & explain in detail the methods of
measuring National Income.
Q.2. Define money, describe the functions of money in detail.
Q.3. State the difficulties in the measurement of National Income.
Q.4. Describe the characteristics of good money.
Q.5. Differentiate between direct tax and indirect tax.
Q.6. Explain the canons of taxation.
Q.7. (a) Differentiate between domestic trade and international trade.
(b) Write down the advantages and disadvantages of international trade.
Q.8. Write down the merits and demerits of direct tax and indirect tax.
Q.9. Discuss the merits and demerits of paper money.
Q.10. What are the causes of disequilibrium in the balance of Payments


P PP P
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D DD DD DD D B BB B
B BB BB BB BY YY Y
Y YY YY YY Y: :: :
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