Faculty of Management - RKU

Internal Examination [CIE – 1]

BBA – Semester-1 Enrolment Number: ___________
Subject Name: Principles of Microeconomics Subject Code: BBC 113
Date: 04-10-2021 Total Marks: 50 [Time: 90Minutes]

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Instructions:
1. Attempt all the questions.
2. Answer to the point and write examples where necessary.
3. Figure to the right represents maximum marks for the question.
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Q:1 A What is economics? Describe definition and meaning of economics along (08)
with the concepts of ‘scarcity’ and ‘economic question’.
Q:1 B What is law of demand? Explain demand curve and demand schedule with (08)
example.

Q:2 A Explain the principles of how people interact. (08)

Q:2 B Describe the principles of how people make decision. (08)
OR
Q: 2A What are the factors affecting demand? Discuss in detail with relevant (08)
examples.
Q:2 B Explain the principles of how the economy as whole works in detail. (08)

Q:3 A What is Production Possibilities Frontier (PPC curve)? Elaborate in detail (09)
with diagram.
Q:3 B  Explain the following terminologies in brief: (04)
1. Supply
2. Macro-economics
3. Market demand
4. Shift in demand curve
 Describe the exceptions to the law of demand (05)
OR
Q:3 A What is law of supply? What are the determinants of supply? (09)
Q:3 B  Explain the following terminologies in brief: (04)
1. Demand
2. Micro-economics
3. Individual supply
4. Resources
 What is circular flow of Economy? Explain with the diagram. (05)

All the best