B.COM I Economics

INSTRUCTIONS
Attempt FIVE questions selecting TWO from Micro Economics, TWO from Macro Economics and ONE from Economic System.

Marks are indicated against each question.

MICRO ECONOMICS

Q.1. Explain the concepts of Micro and Macro Economics and describe their importance in formulation of economics policies.

Q.2 (a). What is meant by consumer’s equilibrium? Explain consumer’s equilibrium with the help of indifference curve approach.
Q.2 (b). Describe the characteristics of indifference curve.

Q.3 (a). Distinguish between Monopoly and Perfect Competition.
Q.3 (b). Explain with the help of diagrams the short run equilibrium of a firm under Perfect Competition.

Q.4. Write short notes on any TWO of the following.
1. Least Cost Combination of Factors.
2. Price Discrimination
3. Point and Arc-Elasticity of Demand
4. Relationship between Average and Marginal Cost Curves.

MACRO ECONOMICS

Q.5 (a). Define National Income and explain its various concepts.
Q.5 (b).Name the various methods of measurement of National Income and explain in detail any one of them.

Q.6. How the equilibrium level of National Income is determined? Does equilibrium always take place at the full employment level? Discuss.

Q.7 (a). Explain the concepts of MULTIPLIER.
Q.7 (b). Computer the value of Multiplier and its effects on National Income when investment is increased by Rs. 20,000/= under the following situations.
i. MPS = 1/5
ii. MPC = .25

Q.8. Write a short note on any TWO of the following.
1. Phases of Trade Cycle
2. MEC
3. Kinds of Unemployment
4. Monetary Policy

ECONOMIC SYSTEM

Q.9. Define Economics System and explain in detail basic problem of an economy?

Q.10. Islamic Economic System is superior that Capitalism? Explain.

B.COM I Economics

INSTRUCTIONS
Attempt FIVE questions selecting TWO from Micro Economics, TWO from Macro Economics and ONE from Economic System.

Marks are indicated against each question.

MICRO ECONOMICS

Q.1 (a). Define Price Elasticity of Demand.
Q.1 (b). Distinguish between
i. Price Elasticity of Demand
ii. Income Elasticity of Demand
iii. Gross Elasticity of Demand

Q.2 (a). Discuss consumer’s equilibrium with the help of indifference Curve Technique.
Q.2 (b). Explain the effect of a change in income of a Consumer on Consumer’s equilibrium.

Q.3 (a). Define the characteristics of perfect competition.
Q.3 (b). Explain with the help of diagrams short run the equilibrium of a firm firm under Perfect Competition.

Q.4. Write short notes on any TWO of the following:
1. Law of Diminishing Marginal Return
2. Change in quantity demanded and change in demand
3. ISO-Product Curve
4. Micro and Macro Economics

MACRO ECONOMICS

Q.5 (a). Distinguish between Consumption and consumption function.
Q.5 (b). Explain the factors which determine “Propensity to Consume”.

Q.6 (a). What is meant by Effective Demand.
Q.6 (b). How the equilibrium level of National is determined? Explain with the level of a diagram.

Q.7 (a). Define Investment and distinguish between Autonomous Investment and Induced Investment.
Q.7 (b). Explain the determinates of Investment.

Q.8. Write short notes on any TWO of the following.
1. Acceleration Principle
2. Concepts of N.I
3. Inflationary and Deflationary Gap
4. Concept of Full Employment Level.

ECONOMIC SYSTEM

Q.9. Define Economic System and compare the characteristics of Capitalism and Socialism.

Q.10. “Economic is the system of Islam is an Ideal Economic System”. Give arguments.

B.COM I Economics

INSTRUCTIONS
Attempt FIVE questions selecting TWO from Micro Economics, TWO from Macro Economics and ONE from Economic System.

Marks are indicated against each question.

MICRO ECONOMICS

Q.1 (a). What is the difference between Law of Demand and Elasticity of Demand? (08)
Q.1 (b). Differentiate between (12)
i. Cross Elasticity of Demand
ii. Price Elasticity of Demand
iii. Income Elasticity of Demand

Q.2. Differentiate between the following (20)
i. Indifference Curve and ISO-Product Curve.
ii. Consumer’s Budget Line and ISO-cost line.
iii. Income Consumption Curve and Expansion Path Curve.
iv. Price Consumption Curve and Factor Price Curve.

Q.3. Examine the effects of changes in demand and supply conditions on the equilibrium price of a firm under: (20)
i. Market Period
ii. Short Period
iii. Long Period

Q.4. Write short notes on any TWO of the following. (20)
1. Conditions of Perfect Competition
2. Laws of Returns
3. Average and Marginal Cost
4. Diseconomics of Scale.

MACRO ECONOMICS

Q.5 (a). Distinguish between Consumption and Consumption Function. (08)
Q.5 (b). What factors influence Consumption Function? Discuss (12)

Q.6 (a). Define the term investment and describe its various kinds. (10)
Q.6 (b). With the help of Factors Affecting Investment, Drew Investment Demand Curve. (10)

Q.7. Explain the principle of Effective Demand. Draw diagram to explain your answer. (20)

Q.8. Write short notes on any TWO of the following. (20)
1. IS and LM Curves
2. APC and MPC
3. Multiplier
4. Tools of Monetary Policy

ECONOMIC SYSTEM

Q.9. In your opinion which Economic System is the best Economic System. Give argument. (20)

Q.10. Distinguish between Modern Banking and Islamic Banking System. (20)

B.COM I Economics

INSTRUCTIONS
Attempt FIVE questions selecting TWO from Micro Economics, TWO from Macro Economics and ONE from Economic System. Marks are indicated against each question.

MICRO ECONOMICS

Q.1 (a). What is meant by Elasticity of Demand? Explain its various kinds. (10)
Q.1 (b). Describe the concept of Point and AVC Elasticity of Demand. (10)

Q.2. Discuss consumer’s equilibrium with the help of indifference curve Technique. (20)

Q.3 (a). Define the following terms: (10)
i. Market
ii. Perfect Competition Market
iii. Monopoly
iv. Oligopoly
v. Monopolitic Competition

Q.3 (b). Explain short run Equilibrium of a firm under Monopoly. (Use Diagram). (10)

Q.4. Write short notes on any TWO of the following: (20)
1. Substitution Effect
2. Law of Increasing Return
3. Production Possibility Curve
4. ISO-quarts and ISO-cost Curves.

MICRO ECONOMICS

Q.5. Define National Income and differentiate between: (20)
i. GNP and GDP
ii. NNP and NDP
iii. National Income at Market Price and National Income at Factor Cost
iv. PI and PDI

Q.6. Differentiate between the following. (20)
i. Gross Investment and Net Investment
ii. Induced Investment and Autonomous Investment
iii. Marginal Efficiency of Capital and Rate of Interest
iv. Multiplier and Acceleration Price

Q.7. Explain the concept of “Propensity to consume”. Bring out the functional relationship between income and consumption with the help of diagram. (20)

Q.8. Write short notes on any TWO of the following. (20)
1. Full Employment
2. Say’s Law of Markets
3. Trade Cycle
4. Fiscal Policy

ECONOMIC SYSTEM

Q.9. What is meant by Economic System? Describe the central problems of an Economy. (20)

Q.10. Discuss in detail the different Modes of Islamic Financing. (20)

B.COM I Economics

INSTRUCTIONS
Attempt any FIVE questions. Selecting TWO from Micro Economics, TWO from Macro Economics and ONE from Economic System. Marks are indicated against each questions.

MICRO ECONOMICS

Q.1. “The change in Relative Prices alone leads to SUBSTITUTION EFFECT real income of the Consumer remaining the same”. Explain with the help of indifference Curves Technique. (20)

Q.2. What is “Least Cost Combination of factors”? How the Least Cost Factor Combination is achieved in terms of ISO QUANT graph? Explain. (20)

Q.3 (a). Differentiate between PURE COMPETITION and PERFECT COMPETITION. (08)
Q.3 (b). Under what conditions a firm under PERFECT COMPETITION stops its production. Explain with the help of a suitable diagram. (12)

Q.4. Write short notes on any TWO of the following. (20)
1. Types of Elasticity of Demand
2. Economics of Scale
3. Micro and Macro Economics
4. Law of Variable Proportions

MACRO ECONOMICS

Q.5 (a). What is CONSUMPTION FUNCTION? Distinguish between Average Propensity to consume (APC)and Marginal Propensity to consume (MPC). (12)
Q.5 (b). Explain the importance of Consumption Function in Macro Economic Analysis. (08)

Q.6. How Equilibrium Level of Income is determined? In this Equilibrium achieved only at full employment level? Discuss. (20)

Q.7 (a). Explain the concept of MULTIPLIER with a numerical example. (12)
Q.7 (b). How each of the following will later the Multiplier. (08)
i. An increase in Average Propensity to Consume (APC)
ii. An increase in Marginal Propensity to Save (MPS).
iii. An increase in Marginal Propensity to Consume (MPC)

Q.8. Write short notes on any TWO of the following: (20)
1. Nominal GNP and Real GNP
2. Average and Marginal Propensity to save (APS & MPS)
3. ACCELERATION PRINCIPLE
4. Marginal Efficiency of Capital (MEC)

ECONOMIC SYSTEM

Q.9. How does Price Mechanism help in performing the basic functions of an Economic System under Free Enterprise Economy? Discuss. (20)

Q.10. Describe the objectives of Economic System of Islam. (20)

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). “Economics is the science of scarcity and choice. Elucidate.
Q.1 (b). Explain Micro and Macro approach to the Economic Analysis.

Q.2 (a). Explain why Consumer’s Indifference Curves have
i. Negative Slopes
ii. Do not intersect
iii. Convex to the origin
Q.2 (b). “How does a consumer achieve Equilibrium”? Explain with the help of Indifference Curves Technique.

Q.3 (a). Distinguish between Monopoly and Monopolistic Competition.
Q.3 (b). Explain with the help of diagrams the determination of short run Equilibrium of a firm under Monopolistic Competition.

Q.4. Write short notes on any TWO of the following.
i. Concept of Margin
ii. The Optimum Firm
iii. Law of Variable Proportions
iv. Price Discrimination

MACRO ECONOMICS

Q.5 (a). Define Investment. Distinguish between Autonomous Investment and Induced Investment.
Q.5 (b). Discuss the factors which influence Investment.

Q.6 (a). Illustrate the functional relationship between Consumption and Income.
Q.6 (b). Enumerate the factors which determine “Propensity to Consume”.

Q.7. What factors govern the Level of Employment in a Free Enterprise Economy, according to Keyness? Explain and Illustrate.

Q.8. Write short notes on any TWO of the following:
1. Measurement of National Income with reference to “Value Added Method”.
2. Kinds of Unemployment
3. Multiplier Doctrine
4. Inflationary and Deflationary gap

ECONOMIC SYSTEM

Q.9. What are the salient features of Socialism? Describe its demerits?

Q.10. In what respects Islamic economic system is superior to Capitalism and Socialism. Discuss with arguments.

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)

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). Define Price Elasticity of Demand. (08)
Q.1 (b). How is it measured? Explain (12)

Q.2 (a). Explain Law of Diminishing marginal returns with the help of schedule and diagrams. (14)
Q.2 (b). Why is it especially applicable in the field of agriculture? (06)

Q.3 (a). What is meant by Firms equilibrium? (06)
Q.3 (b). Explain with the help of diagrams of Short run equilibrium of a firm under Perfect Competition. (14)

Q.4. Write short notes on any TWO of the following: (20)
1. Characteristics of Indifference Curves
2. Law of Diminishing marginal utility
3. Internal and External Economics
4. Micro and Macro Economics.

MACRO ECONOMICS

Q.5 (a). Define National Income and explain the various methods of measurement of National Income. (14)
Q.5 (b). What is the importance of the Study of National Income? (06)

Q.6. Explain the Keynesian theory of Income and employment with the help of diagrams. (20)

Q.7 (a). Distinguish between A.P.S and M.P.S (10)
Q.7 (b). What are the factors that determine saving in an economy? Explain. (10)

Q.8. Write short notes on any TWO of the following: (20)
1. Phases of Trade Cycle
2. Multiplier
3. Determinants of Propensity to consume.
4. Autonomous and Induced Investment.

ECONOMIC SYSTEM

Q.9. What are the basic problems of an Economy? Explain how are these problems resolved under Mixed Economy?

Q.10. “Islamic Economic System is the best Economic System? Give arguments. (20)

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). Explain the concept of Elasticity of Demand. (08)
Q.1 (b). Differentiate between. (12)
i. Price Elasticity of Demand
ii. Income Elasticity of Demand
iii. Cross Elasticity of Demand.

Q.2 (a). What is meant by Firm’s Equilibrium? (05)
Q.2 (b). Explain with the help of diagrams the Short Run Equilibrium of a Firm under Perfect Competition. (15)

Q.3. “Laws of Returns are merely the converse of the Laws of Costs”? Elucidate. (20)

Q.4. Write notes on any TWO of the following: (20)
1. Price Discrimination
2. Micro and Macro Economics
3. Optimum Factor Combination
4. Characteristics of Indifference Curves

MACRO ECONOMICS

Q.5 (a). Explain the concept of Multiplier. (12)
Q.5 (b). Calculate the value of Multiplier and its effects on National Income in the following conditions. When investment is increased by Rs. 10,000/= (08)
i. MPC = 1/4
ii. MPS = 0.5

Q.6 (a). How the equilibrium level of National Income is determined?
Q.6 (b). Does Equilibrium always take place at the full employment level? Discuss.

Q.7 (a). Distinguish between Consumption and Consumption Function. (08)
Q.7 (b). Explain the factors which determine the Propensity to Consume. (12)

Q.8. Write notes on any TWO of the following: (20)
1. Marginal Efficiency of Capital
2. Importance of Study of National Income.
3. Acceleration Principle
4. Inflationary and Deflationary Gap

ECONOMIC SYSTEM

Q.9. What are the salient features of a Capitalistic Economy? Describe its merits. (20)

Q.10. “Economic System of Islam is not only the Combination of Capitalism and Socialism but it has its own characteristics”. Do you agree? Give arguments. (20)

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). Explain the concept of Elasticity of Demand. (08)
Q.1 (b). Differentiate between. (12)
i. Price Elasticity of Demand
ii. Income Elasticity of Demand
iii. Cross Elasticity of Demand.

Q.2 (a). What is meant by Firm’s Equilibrium? (05)
Q.2 (b). Explain with the help of diagrams the Short Run Equilibrium of a Firm under Perfect Competition. (15)

Q.3. “Laws of Returns are merely the converse of the Laws of Costs”? Elucidate. (20)

Q.4. Write notes on any TWO of the following: (20)
1. Price Discrimination
2. Micro and Macro Economics
3. Optimum Factor Combination
4. Characteristics of Indifference Curves

MACRO ECONOMICS

Q.5 (a). Explain the concept of Multiplier. (12)
Q.5 (b). Calculate the value of Multiplier and its effects on National Income in the following conditions. When investment is increased by Rs. 10,000/= (08)
i. MPC = 1/4
ii. MPS = 0.5

Q.6 (a). How the equilibrium level of National Income is determined?
Q.6 (b). Does Equilibrium always take place at the full employment level? Discuss.

Q.7 (a). Distinguish between Consumption and Consumption Function. (08)
Q.7 (b). Explain the factors which determine the Propensity to Consume. (12)

Q.8. Write notes on any TWO of the following: (20)
1. Marginal Efficiency of Capital
2. Importance of Study of National Income.
3. Acceleration Principle
4. Inflationary and Deflationary Gap

ECONOMIC SYSTEM

Q.9. What are the salient features of a Capitalistic Economy? Describe its merits. (20)

Q.10. “Economic System of Islam is not only the Combination of Capitalism and Socialism but it has its own characteristics”. Do you agree? Give arguments.