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[QUOTE=hemalathaijt;195123][B]Teerthanker Mahaveer                              College of Management & Computer Applications[/B]
[B]BCA I SEMESTER EXAMINATION 2010-11
Course Code: BCA102 Paper ID: 0121102
Principles of Economics
Time: 3 Hours Max. Marks: 75[/B]

[B]Model Question List[/B] : [URL]http://www.tmu.ac.in/oldquestions.htm[/URL]
[B]Model Question Paper [/B]: [URL]http://www.tmu.ac.in/pdf/oldquestionbca201011.pdf[/URL]

Note: Attempt six questions in all. Q. No. 1 is compulsory.
1. Answer any five of the following (limit your answer in 50 words). (3x5=15)
a) What is marginal utility?
b) What happens to consumer equilibrium when two commodities are perfect substitute of each other?
c) What do you mean by unitary price elasticity of demand?
d) What do mean by market in economics?
e) What is constant cost Industry?
f) What is meant by backward sloping supply curve of labour?
g) What is normal profit?
h) What is consumer surplus?

2. Dfdf
a) What do you mean by Micro and Macro Economics? How are they interdependent? (6)
b) Discuss the relevance of economics in business management. (6)

3. Discuss the properties of indifference curve? Show consumer equilibrium with indifference curve? (12)

4. Define the term ‘Elasticity of demand’ what is the relation between elasticity of demand and slope of the demand curve? (12)

5. Explain the law of variable proportion with suitable example and diagram? (12)

6. A competitive firm is not a price determinator but an output adjustor. Elucidate? (12)

7. What do you mean by oligopoly? Discuss its features. How the price is determined under oligopolistic competition? (12)

8. ‘Rent is the reward for specificity.’ Critically examine this statement. (12)[/QUOTE]

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