_ Roll No... B. A. LL. B.—104 B. A. LL. B. (First Semester) EXAMINATION, Jan., 2019 (Batch 2018-2023) Paper Fourth ECONOMICS—I (Economic Theory) Time : Three Hours). (Masia Marks : 100 ate: il aed @ PETAR Tes oer ET ‘Attempt questions from all Sections as directed. fete: onal seat see merge fet af A eT scot wy viarermmanagare ces fe \ ‘The candidates are required to answer only in serial order. If y parts of a question, Sori ee wer (Section—A) ag sata wer (Short Answer Type Questions) ste: wh wer aftanf @1 ete wer 4 sist ert (0-15) P.T.0.121 B.A.LL.B.-104, All questions are compulsory. Each question carries 4:marks. 4. (A) Rr aA after oH tee Pte Write the characteristics of Robbins’ definition. @) sa arms a an ore 8? ‘What is meant by opportunity cost ? (©) Br eer wt a or ae 8 ? ee wife) Can utility be measured ? Explain. (D) Sere kart art? enfea gre wwe AAR What is price line ? Explain with diagram. (©) oi eer oe str BF ore ere wR) Explain the difference between extension of demand and increase in demand. ©) sere wd Setar Serer wert BAT STE *? What is meant by short-run and fong-run production function ? G Fw vain 4 oeR area) Distinguish between Firm and Industry. (Bear TSta sere A aROT at ere AAT Explain the concept of gross national product. (sete wtorttePis Pa ert? ‘What is PsychStogical Law of Consumption ? © wea tt ei awa Paar t? * What is meant by aggregate demand and aggregate supply ? (0-18)131 BLA.LL. B04 wet (Seetion—B) ae oata wer (Cong Answer Type Questions) ate: fell at wet 3 oer Aforg) wate wer 18 set aT ti Attempt any fo questions. Each question carries 15 marks. 2. yw setorecen a per area aH ete AC ‘Discuss thefundamental problems of aneconomy. a. awifter Redon A Meer 2 sertem fe FeR agarrrer at wre eter @ ? ere AAA How does the consumer achieves equilibrium position with the help of utility analysis ? Explain. 4. Serdar a war t ? eel feces wt Tee —— indifference,,curve,..?, Discuss its ~~ characteristics. _ 5. cin & dm aha a am ores & 7 ee Fe AT OTT 2? ‘What is meant by price elasticity of demand ? How is it measured ? wee (Seetion—C) : Oe wate wet (Long Answer Type yr ates Pel a wet & ser AAT ake wer 15 alat aT 2 © Attempt any nwo questions. Each question carries 1S marks. 6 dra 3 dome fred @ artes aren AR Critically explain Keynesian theory of employment. ‘ {0-15)P.T.0. x