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# Roll No:

04281

SESSION 2015-16

Annual Examination
B.Com. (Ist Year)
Time: 3 Hours.

## Max. Marks: 100

INSTRUCTIONS:
Question paper is divided into three groups.
Figure to the right in bracket indicates mark.
Assume suitable data if necessary.
GROUP A: Answer any three questions. (Question No. 1st is compulsory)
3x10=30
.

## Q.1 State the meaning of cardinal and ordinal approaches of utility

measurement.
Q.2 Describe five responsibilities of business economist.
Q.3 What is the implication of D= f (P)?
Q.4 According to Marshall, what are five factor of Production?
Q.5 Calculate price elasticity of demand by proportionate method ifQ1 = 8000 Kg
Q2 = 10000 Kg

P1 = 40 Rs.
P2 = 38 Rs.

## GROUP B: Answer any three questions. ((Question No. 6th is

compulsory)
3x15=45
Q.6 Explain the cost-output relationship in the short-run.

## Q.8 What do you understand by law of equi-marginal utility?

Q.9 Define Business Economics and explain its characteristics, nature and
scope.

(a) Bentham
(b) H.H. Goshen

(c) Marshall

## v. Total Utility is maximum when marginal utility is.

Q.10 Explain the law of Diminishing Marginal Utility. What are its
limitations and importance in economics?

(a) Zero

(c) Positive

(b) Negative

## GROUP C: All questions are compulsory.

Q.13 True or false. (Each question carries 1 Marks)
Q.11Fill in the blanks. (Each question carries 2 marks)
.
2x5=10
a.
b.
c.
d.
e.

## Diamond-water paradox of utility was explained by

Another name of Goshens first law is ..
Marshall is the profounder of approach of Utility.
was propounded the indifference curve analysis.
A. C. Pigon is concerned with . definitions.

2x5=10
.

i.

ii.

Iii.

## Who has written the book wealth of nations?

(a) Marshall
(c) L. Robbins
(d) J. K. Mehta
According to Weiser, there are .factors of production.
(a) Four
(c) Five
(b) Two
(d) Three
The shape of average fixed cost use to be live
(a) >

(d) U

I.
II.
III.
IV.
V.

1x5=5

## Indifference curve approach was propounded by Marshall.

Geffen goods are also called as superior goods.
The law of demand is Quantitative.
Economic theories are not exact like natural sciences.
According to Robbins, Micro and Macro Economics are two
main parts of pure Economics.

***