Sub. code: 226
Candidates are required to give their answer in their own words as far as practicable. The figures in the margin indicate full marks.
Time: 3 hrs. Full Marks: 100
Pass Mark: 35
Attempt all questions.
- What is shift in supply curve? Explain the causes of shift in supply curve. [5+5]
- What is price elasticity of demand? Explain its determinants. [3+7]
- Explain the law of variable proportions. [6+4]
- Explain the relationship between average revenue, marginal revenue and total revenue under monopoly. [3+7]
Critically explain the Ricardian Theory of Rent. [2+8]
- Attempt any four questions. [4×5=20]
a. Explain the law of diminishing marginal utility.
b. Discuss about features of partnership.
c. What are the features of perfect competition?
d. Explain the law of demand.
e. Explain the wages fund theory of wage.
6. Attempt all questions.
a. Mention any four advantages of division of labour?
b. Define the law of consumer’s surplus.
c. What is Gross profit and net profit?
d. Write the meaning of variable cost?
e. What is capital?
- Explain the function of central bank. 
Explain the Quantity Theory of Money. 
- Attempt any two questions. [2×5=10]
a. Explain the features of good tax system.
b. Give the arguments in favour of free trade.
c. Explain the process of budget formulation.
9. Attempt all questions. [5×2=10]
a. Write short notes on inflation.
b. What is capital market?
c. Write short notes on WTO.
d. Define progressive tax.
e. What are the internal sources of government borrowing?