This question paper contains 6 printed pages.} 4353 Your Roll No. ITE PATH B.Com. (Pass) / I AS Paper III - ECONOMIC SYSTEMS AND MICRO-ECONOMIC THEORY (Admission of 2005 & before) Time : 3 Hours Maximum Marks : 100 (Write your Roll No. on the top immediately on receipt of this question paper.) (3a wera & ead A HR ee Te Pertita TaTT H TT sigan Ferfac) Note: (i) Answers may be written either in English or in Hindi; but the same medium should be used throughout the paper. (ii) The maximum marks printed on the question paper are applicable for the students of the Cat. ‘B’. These marks will, however, be scaled “ down proportionately in respect of the students of Cat. ‘A’ at the time of posting of awards for compilation of result. [P.T.0.fearon : (i) sa WRATH sen ath aT fect Peet OH TT A afer, afer weit sath ar area wm eh ght ifea! (ii) TeI-0t He afd Galen soft ‘BB frenPhat fee argaaisa &) cent ad ste aut at Rrenblat & avace at saa afore & aeacrs & fore Figen sifatita & aaa R, sre orga BaF am ett! Attempt five questions in all, attempting at least two questions from each section. wed gure OH at TET amet BE eT Ter A NST | SECTION - A aq - & J. What do you understand by the term ‘Modes of Production’ ? Bring out clearly the features of capitalist mode of production. 10,10 ‘serea-Ofeal’ ve @ arg we aaa F? afta sees OR attire w Gere wear sfere | 4353 22. Explain the term ‘Economic Welfare’. Do you regard real per capita income as a true index of economic welfare ? 8,12 ‘anfis sear ve ft caren stfsra an aa areas wife cafe ora oat fates waearor ar aenel aH AAAS ? 3. What are the causes of inequalities of income and wealth in India ? What fiscal measures would you adopt to reduce these inequalities ? 10,10 und 4 ory an aa Ft aaa & eT ar 8? seas A He a ae aT aT TT sora STATE 7 4. How does the occupational structure change as economic development takes place ? What are the main features of occupational structure of India since independence ? 12,8 otis fara & are arate teat fea we see ant 3? warm & ae & oa A raanite sea | wae aftr eT 8? 5. Write notes on any two of the following : (a) Circular flow of income (b) Mixed economy 4353 3 [P.T.O.(c) Difficulties in the Measurement of National income in an underdeveloped economy. 10,10 freafefiad a feet at ox Roroh ferftar : (%) aaa aga vate (a) fife aeforacar (7) aecfeafta aeioen Fo afta a } ara a BST | SECTION -B ATA - a 6. Discuss the total outlay method of Measuring price elasticity of demand. Do two parallel straight line demand curves have the same elasticity at a given price? Explain. 12,8 ain ft Ata cite area At et oRera yore ar aaa aAlfaa | ear Raa stra we a} aaiat ate ter ain a FY WM ae ale 8? eae Aare 7. Using the Indifference curves show how will you draw Price Consumption Curve ’ How will you derive and individual demand curve for a commodity from such a curve ? 10,10 4353 410. safer age amr soar ata gu, aarigy fee afta savin ase al ay feos wean SRT HUT ? ga Waa i am a srry feet eg & fora we aI am foe waa ayer ET? Distinguish between average fixed costs and average variable costs. Will a firm produce in the short run if it is not covering average cost ? Give reasons. 10,10 ataa fer arnt afk sited ufact anit 4 fate Afr aa ig Ga art site cera Ut a Tea we oh rete A Sea HUT 7 HRT TATE) Distinguish between Simple Monopoly and Discriminating Monopoly. Explain the price and output determination under Simple Monopoly. 8,12 mere water atk tage water 7 aa ae Alaa | wre ware & ateia Aiea cen sere Peter al ere Fa) “The essence of the concept of Economic Rent is the surplus earned by a Factor of Production over and -above the minimum earnings to induce it to do its work.” Explain the statement. 20 4353 5 [P.T.O.“anil amr a) deo a an screa & Att get a 38 arr ard & fare dha we fre aa sae a SR afsia aftaty 3” ge he at ee AAR | 4353 6 2000