University Of Punjab Lahore B.COM Part 1 Past Paper Of Economics Year 2011
University of Punjab Lahore B.COM Part 1 Past Paper of Economics year 2011
UNIVERSITY OF THE PUNJAB, LAHORE
PART – I A/11
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. Distinguish between Micro and Macro Economics and explain their importance.
Q. 2. Explain the Law of Diminishing Marginal Utility with the help of schedule and diagram.
Q. 3. Define Price Elasticity of Demand. Describe the methods to measure Price Elasticity of Demand.
Q. 4. Critically examine the Liquidity Preference Theory of Interest.
Q. 5. What is Monopolistic Competition? How is price and output determined under Monopolistic Competition?
Q. 6. Define National Income. Point out the difficulties in its correct measurement.
Q. 7. Define Direct and Indirect taxes. Give examples and examine their comparative advantages and disadvantages.
Q. 8. The total cost and total revenue functions are given:
(a) TC = 5Q2 + 8Q + 20
(b) TR = 15Q – Q2
i) Find the Marginal and Average total cost function.
ii) Find MR and AR at Q = 3.