B.COM I Economics 2004 (Regular)
B.COM I Economics
INSTRUCTIONS
Attempt any FIVE questions. Selecting TWO from Micro Economic, TWO from Macro Economics and ONE from Economics System.
MICRO ECONOMICS
Q.1 (a). Distinguish between Micro and Macro approach to economic analysis. (12)
Q.1 (b). Discuss the need for combing the two approaches. (08)
Q.2. “Price Effect is the combination of Income Effect and Substitution Effect”. Explain the illustrate. (20)
Q.3 (a). Compare Monopoly with Monopolistic Competition. (08)
Q.3 (b). Explain with the help of diagram the short-run equilibrium a firm under Monopolistic Competition. (12)
Q.4. Write short notes on any TWO of the following: (20)
1. Change in Quantity Demanded and Change in Demands.
2. Point Elasticity any ARc Elasticity of demand
3. Average Revenue and Marginal Revenue curves under Perfect and Imperfect Competition.
4. Laws of Returns of Scale
MACRO ECONOMICS
Q.5. Differentiate between: (20)
1. GNP and GDP
2. National Income at Market Price and National Income at Factor Cost
3. Personal Income and Disposable Income
Q.6 (a). Distinguish between Autonomous Investment and Induced Investment. (10)
Q.6 (b). Describe the factors that determine and Marginal Efficiency of Capital. (10)
Q.7. Explain Keynesian Theory of Income and Employment. (20)
Q.8. Write short notes on any TWO of the following: (20)
1. Determinants of Saving
2. Multiplier
3. Trade of Cycle
4. Concept of Full Employments.
ECONOMIC SYSTEM
Q.9 (a). What are Central Problems of an Economy? (08)
Q.9 (b). How these problems are resolved under Capitalism. (12)
Q.10. Islamic Economic System is an ideal economic system. Give argument. (20)
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