EC01 Principles of Microeconomics B.A Question Bank : uou.ac.in

Name of the University : Uttarakhand Open University
Degree : B.A
Department : Economics
Subject Code/Name : EC01 Principles of Microeconomics
Year : I
Document Type : Old Question Papers
Website : uou.ac.in

Download Model/Sample Question Paper : https://www.pdfquestion.in/uploads/uou.ac.in/4453.-EC-01.pdf

UOU Principles of Microeconomics Question Paper

B.A. – 10 (Bachelor of Art) First Year, Examination 2012
Time : 3 Hours
Max. Marks: 60

Related : Uttarakhand Open University EEC07 Indian Industrial Development B.A Question Bank : www.pdfquestion.in/4464.html

Note : The question paper is divided into three sections A, B and C.

Section-A

Long Answer’s Question 2×15=30
Note : Answer any two questions. Each question carries 15 marks.
With the help of indifference curve Analysis explain consumer’s equilibrium?
Define “Price Elasticity of Demand”. Distinguish between ‘point elasticity’ and ‘arc elasticity’ and discuss the method of measuring both of them?
How is the price determined under perfect competition?
Discuss the liquidity preference and loanable funds theories of interest and compare them?

Section-B

Short Answer’s Question
4×5=20
Note : Answer any four questions. Each question carries 05 marks.
Explain Marginal Rate of Substitution-
What is difference between macro and micro economics-
Examine the importance of time element in the determination of price-
Why is Short Run Average Cost (SAC) Curve U-shapped-
Define monopoly-
What is quasi rent-
Explain Uncertainty bearing theory of profit-
Explain the concept of Consumer’s Surplus-

Section-C

Objective Type Question Compulsory 10×1=10
Note : Answer all questions. Each question carries 01 marks.
Chose the correct alternative :
Total Utility is maximum, when :
(a) Marginal Utility is zero (b) Marginal Utility is maximum
(c) Marginal Utility is equal to average utility (d) Average Utility is maximum

Demand Curve of Giffen goods will be :
(a) Horizontal (b) Falling downwards right
(c) Falling backwards left (d) Rising upwards right

Income elasticity of demand for inferior goods is
(a) Positive (b) Zero(c) Negative (d) Infinite
An Isoproduct curve :
(a) Rising upwards right (b) Convex to the origin
(c) Towards right indicate less production
(d) Intersect each other

First necessary condition for a firm for maximum profit is
(a) AC=MR (b) MC=MR(c) MR=AR (d) AC=AR
Demand curve under perfect completion
(a) Perfectly Inelastic (b) Inelastic(c) Elastic (d) Perfectly elastic

Who propounded imperfect completion
(a) Marshall (b) Chamberlin (c) Pierro Sraffa (d) Joan Robinson
What is the neoclassical theory of interest
(a) IS-LM Theory (b) Liquidity Preference Theory
(c) Time Preference Theory (d) Loanable Fund Theory

Equi Marginal Utility was propounded by whom-
(a) Jevons (b) Menger (c) Marshal (d) Pigou
Innovation Theory of Profit was propounded by whom-
(a) David Ricardo (b) Karl Marx(c) F. Tauzig (d) J.A. Schumpeter

Principles of Micro Economics

First Year, Examination-2015 :
EC-01 :
Time : 3 Hours
Maximum Marks : 60
Note : This paper is of sixty (60) marks divided into three (03) sections A, B, and C. Attempt the questions contained in these sections according to the detailed instructions given therein.

Section – A : (Long Answer Type Questions)
Note : Section ‘A’ contains four (04) long-answer-type questions of fifteen (15) marks each. Learners are required to answer any two (02) questions only. (2×15=30)
1. Explain the concept of elasticity of demand. How is the elasticity of demand measured ?
2. Explain price and income effects with the help of Indifference curves.

3. What do you understand by price diserimination ? When it is possible and profitable ? Show price determination under price diserimination.
4. Discuss the modern theory of Rent.

Section – B : (Short Answer Type Questions)
Note : Section ‘B’ contains eight (08) short-answer-type questions of five (05) marks each. Learners are required to answer any four (04) questions only. (4×5=20)
1. ‘The fundamental problem is the problem of choice’. Explain.
2. Discuss Micro Economic analysis and its importance.
2. Describe the meaning, importance and limitations of consumer’s sovereignty.
4. Discuss short period and long period production function.

5. Describe Least cost combination.
6. Discuss Marginal cost, Average cost and their relations.
7. Describe the main characteristics of perfect competition.
8. Discuss uncertainity theory of Profit.

Section – C : (Objective Type Questions)
Note : Section ‘C’ contains ten (10) objective-type questions of one (01) mark each. All the questions of this section are compulsory. (10×1=10)
1. Which is not the subject matter of Micro Economics ?
(a) Product Pricing
(b) Factor Pricing
(c) Equilibrium of a firm
(d) General Price level

2. Which of the following is not a characteristic of indifference curves ?
(a) Converse to the origin
(b) Down ward sloping from left to right
(c) Upward sloping from left to right
(d) Indifference curves never intersect each-other