2022
ECONOMICS
Full Marks: 100
Pass Marks: 30
Time: 3 hours
The figures in the margin
indicate full marks fOr the questions
PART – A
(IntroductOry
Microeconomics)
1. Answer the following:
(a) State
the law of
supply. 1
(b) What
is break-even
point? 1
(c) What
is the shape of a perfectly inelastic demand
curve? 1
(d) What
does a point below the production possibility curve
indicate? 1
(e) What
is market
economy? 1
(f) What
do you understand by price ceiling? 1
2. What is oppOrtunity
cost? Explain with an
example. 1+1=2
3. Write the law of
variable propOrtion. 2
4. State the law of demand
and draw a demand
curve. 1+1=2
5. Prove that fOr a firm,
price = average
revenue. 2
6. Write the conditions of
firm’s
equilibrium. 2
7. How does imposition of
per unit tax affect supply curve of a
firm? 2
8. Discuss the
characteristics of perfect competitive
market. 4
9. With the help of demand
and supply curve, explain how market equilibrium is attained. 4
10. Explain the law of
diminishing marginal
utility. 4
Or
What is price elasticity of
demand? Discuss any one method of calculating price elasticity of
demand. 1+3=4
11. Define production
function. The production function of a firm is given as, where Q is output,
L is labour employed and K is capital employed. Determine the level of Q, where
and
. 1+3=4
Or
Discuss the determinants of
supply. 4
12. Write the differences
between monopoly market and monopolistic competitive
market. 4
13. Explain how a consumer
attains equilibrium while consuming two
commodities. 6
Or
What is an indifference
curve? Draw an indifference curve and discuss its
properties. 1+1+4=6
14. Define average fixed
cost (AFC), average variable cost (AVC) and average cost (AC). Draw the AFC,
AVC and AC curves indicating their
interrelation. 3+3=6
Or
Calculate TFC, TVC, AVC,
AFC, AC and MC schedule from the following
table: 6
Amount
of Production (Q) |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
Total
Cost (TC) |
40 |
100 |
120 |
130 |
150 |
190 |
250 |
PART – B
(Statistics for Economics)
15. Answer the following:
(a) Who
fOrwarded the welfare definition of
economics? 1
(b) Write
one limitation of
statistics. 1
(c) Write
the direct method of calculating arithmetic mean in case of discrete
variable. 1
(d) Write
the full fOrm of
NSSO. 1
(e) Who
is known as the father of
statistics? 1
(f) Write
one difference between diagrammatic presentation and graphical presentation of
data. 1
16. Calculate range and
range coefficient from the following data: 1+1=2
12, 15, 18, 21, 24, 27
17. Write two differences
between discrete variable and continuous
variable. 2
18. What do you understand
by relative measures of dispersion? 2
19. Write two differences
between histogram and bar diagram.
2
20. Write two limitations
of ‘direct personal investigation’ method of data
collection. 2
21. Write two features of
statistics. 2
22. Briefly write about the
methods of classification of
data. 4
Or
Write the objectives of
tabulation of
data. 4
23. The marks obtained by 9
students of a class are given below. Calculate mean
deviation: 4
22, 65, 40, 50, 38, 20, 70,
25, 75
Or
Write a note on LOrenz
curve. 4
24. Calculate Karl
Pearson’s cOrrelation coefficient from the following
data: 4
X: |
6 |
8 |
12 |
15 |
18 |
20 |
24 |
38 |
31 |
Y: |
10 |
12 |
15 |
15 |
18 |
25 |
22 |
26 |
28 |
Or
What is rank cOrrelation?
Briefly outline its demerits. 1+3=4
25. Calculate mode from the
following frequency
distribution:
4
X: |
0-10 |
10-20 |
20-30 |
30-40 |
40-50 |
50-60 |
60-70 |
70-80 |
F: |
4 |
12 |
18 |
25 |
16 |
9 |
7 |
3 |
Or
What is Median? Discuss its
merits. 1+3=4
26. Write the characteristics
of an ideal average.
4
27. Write shOrt notes
on: 3+3=6
(a) Wholesale
price index.
(b) Consumer
price index.
Or
Discuss the use of index
number in the study of economics. 6
28. Discuss the
characteristics of a good questionnaire.
6
Or
Draw a histogram and a
frequency polygon from the following data:
4+2=6
Marks
Obtained: |
10-20 |
20-30 |
30-40 |
40-50 |
50-60 |
60-70 |
No.
of Students: |
5 |
12 |
15 |
22 |
19 |
4 |
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