GC University Faisalabad B.COM Part 1 Past Paper Of Economics Year 2012
GC University Faisalabad B.COM Part 1 Past Paper of Economics year 2012
GC UNIVERSITY, FAISALABAD
PART – I Annual – 2012
Examination: – B. Com.
Roll No. . . . . . . . . . . . .
Subject: Economics TIME ALLOWED: 3 hrs.
PAPER: BC-303 MAX. MARKS: 100
Attempt any FIVE questions.
All questions carry equal marks.
Q. 1. Economics is a science of scarcity and choice. Discuss?
Q. 2. State and explain the law of Diminishing Marginal utility with the help of schedule and diagram?
Q. 3. Define elasticity of demand. How is it measured?
Q. 4. Explain the behaviour of cost curves of a firm in the short run with the help of schedule and diagrams?
Q. 5. Explain the conditions for equilibrium of a firm? Discuss short run equilibrium of a firm under perfect competition.
Q. 6. Define National Income? Discuss the various concepts of National Income and indicate their relationships.
Q. 7. Discuss the various canons of taxation?
Q. 8. If the profit function is as under:
Profit = 1/3Q3 + 8Q2 - 28Q – 90
(i) The equilibrium quantity where Profit is maximum?
(ii) The amount of Profit?