Questions
Syllabus
Qns. By Syllabus

Semester

Subject

Year

Bachelors Level/First Year/Second Semester/Science bit/second semester/economics/syllabus wise questions

Bachelors In Information Technology

Institute of Science and Technology, TU

Economics (ECO155)

Year Asked: 2082, syllabus wise question

Consumer Choice: Indifference Theory
1.
Explain the concept of indifference curve. Derive the consumer’s equilibrium using indifference curves and budget line with a diagram. [10]
2.
Define the law of diminishing marginal utility. Explain its significance with an example. [5]
Costs and Revenue
1.
Consider the following cost schedule:
Output012345TFC (Rs.)202020202020TVC (Rs.)0305080120160\begin{array}{|c|cccccc|}\hline \text{Output} & 0 & 1 & 2 & 3 & 4 & 5 \\ \hline \text{TFC (Rs.)} & 20 & 20 & 20 & 20 & 20 & 20 \\ \hline \text{TVC (Rs.)} & 0 & 30 & 50 & 80 & 120 & 160 \\ \hline \end{array}
a) Calculate TC, AFC, AVC, AC, and MC. b) Explain the relationship between AVC and MC. [5+0+0]
Demand, Supply and Price
1.
Define market equilibrium. Explain how shifts in demand and supply curves affect equilibrium price and quantity, with appropriate diagrams. [10]
2.
Given the demand schedule:
Price (Rs.)252015105Quantity Demanded50100150200250\begin{array}{|c|ccccc|}\hline \text{Price (Rs.)} & 25 & 20 & 15 & 10 & 5 \\ \hline \text{Quantity Demanded} & 50 & 100 & 150 & 200 & 250 \\ \hline \end{array}
a) Calculate the price elasticity of demand from point Rs. 20 to Rs. 15 using the point method. b) Compute the arc elasticity of demand between points Rs. 15 and Rs. 10. [5+0+0]
3.
Explain the concept of producer surplus. How does a price floor affect producer surplus? Illustrate with a diagram. [5]
Economic Issues and Concepts
1.
Explain the concept of production possibility curve with an example. [5]
Macroeconomic Policies
1.
Define fiscal policy. Discuss the tools of fiscal policy used for economic stabilization. [5]
Market Structure
1.
What is perfect competition? Discuss its characteristics and the process of price-output determination in the short run using marginal approaches. [10]
2.
Define monopoly. Discuss its key features and provide one real-world example. [5]
National Product and its Measurement
1.
Given the following data for a country (in Rs. billions): Consumption = 500, Investment = 150, Government Spending = 200, Exports = 100, Imports = 80, Net Factor Income from Abroad = 20. a) Calculate GDP using the expenditure approach. b) Calculate GNI. [5+0+0]
Production
1.
What is a production function? Discuss the properties of isoquants with a diagram. [5]