Punjab University PU Lahore B.COM Part 1 Past Paper of Economics year 2014
Time Allowed: 3 Hours New Course Marks: 100
Note: Attempt any five questions. All questions carry equal marks.
Question # 1
Define Economics. Briefly discuss its scope.
Question # 2
Define Indifference Curve. Explain the main properties of Indifference Curves.
Define and explain the following: (a) Price Elasticity of Demand (b) Income Elasticity of Demand (c) Cross Elasticity of Demand
Question # 4
What is Monopolistic Competition? How is price and, output determined under Monopolistic Competition?
Question # 5
Critically examine Liquidity Preference Theory of Interest.
Question # 6
Discuss the merits and demerits of direct and indirect taxes.
Question # 7
Discuss the economics role of State in Islam.
Question # 8
Given the total cost function of a firm: C = Q3 — 12Q2 + 60Q
Find the following:
Slope of MC
Slope of AC