EEC-11 No. of Printed Pages : 7 BACHELOR'S DEGREE PROGRAMME Term-End Examination June, 2010 00 1 ELECTIVE COURSE : ECONOMICS EEC-11 : FUNDAMENTALS OF ECONOMICS Time : 3 hours Maximum Marks : 100 (VVeightage : 70%) Note : The paper contains three sections A, B and C. Attempt the questions as per instructions given in each section. SECTION - A (Long Answer Questions) 2x20=40 Attempt any two questions from this section. Define an indifference curve. What are the properties of indifference curves ? Explain consumer's equilibrium with the help of indifference curves. 4+8+8 Distinguish between perfect competition and monopolistic competition. How does a monopolistically competitive firm attain equilibrium in the short run and long run ? 6+14 EEC-11 1 P.T.O.
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EEC-11No. of Printed Pages : 7
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
June, 201000
1 ELECTIVE COURSE : ECONOMICS
EEC-11 : FUNDAMENTALS OFECONOMICS
Time : 3 hours Maximum Marks : 100
(VVeightage : 70%)
Note : The paper contains three sections A, B and C. Attempt
the questions as per instructions given in each section.
SECTION - A(Long Answer Questions) 2x20=40
Attempt any two questions from this section.Define an indifference curve. What are theproperties of indifference curves ? Explain
consumer's equilibrium with the help ofindifference curves. 4+8+8
Distinguish between perfect competition andmonopolistic competition. How does amonopolistically competitive firm attainequilibrium in the short run and long run ? 6+14
EEC-11
1 P.T.O.
Explain the Keynesian theory of demand formoney. How is it different from Friedman'sversion of the Quantity Theory of demand formoney ? 14+6
Explain and critically examine the theory of 20comparative cost advantage of international trade.
EEC-11 2
SECTION - B
(Medium Answer Questions)
3x10=30
Attempt any three questions from this section.
Bring out the relationship among Total, Averageand Marginal Cost.
Explain the 'Law of variable proportions' with thehelp of a diagram.
Discuss the Loanable Funds theory of interest ratedetermination.
What is an investment function ? State the factorsthat determine investment in an economy.
9. Discuss the conditions under which markets canfail.
EEC-11
3 P.T.O.
SECTION - C(Short Answer Questions) 3x10=30
Answer all the questions in this section as indicated :
10. Give definitions of any five of the followingconcepts : 5x2=10
Iso-cost curveProducer goodsCross elasticity of demandTerms of tradeProduction Possibility CurveConsumer's surplus
(g) Phillip's curve
11. Distinguish between any two of the following :Private and social marginal cost 2x5=10
Partial and General EquilibriumIncome and substitution effectMarginal Efficiency of Capital and MarginalEfficiency of Investment.
12. Explain any two of the following :
Incidence of taxEngel's lawMeasures of Budget DeficitPrice Discrimination by a monopolist
2x5=10
EEC-11 4
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