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I Semester B.A. Examination, Nov.lDec. 2014(Semester Scheme)

ECONOMICSPaper - 1.1 : Micro Economics

Time: 3 Hours Max. Marks : 90

Instructions: 1) Answer either in Kannada or in English.2) Answers for Part A should be continuous.3) Answers should be precise.

PART -A

(Obejctive Type)

i~"c:Som~<::3Vdd.rv a5~ cjl~~~713~ 3-4 ~~r~~~ ~afJ. crl~cjl~71wd~ eo=d~~.):..J)../~ " M .» -':';../~

Answerany ten of the following in 3-4 sentences each. Each question carriestwo marks : (10x2=20)

1. a) ~=d e~F'~;:S <wodde~ ~~ I dJ .

What is micro economics?

b) ~do e~F'~;:SdJ<wodde~?What is normative economics?

c) 2:8<::3VfJe~~5de~cm e~F' Nets.Give the meaning of indifference curve.

d) "~c:Sjc':)MeC1J.)~;:S<wodde~ ?

What is Giffen's paradox?

e) z:Jetsicm ,%~~cj=d~<wodde~?

What is elasticity of demand?

f) ~~i Ncm;i)~~ ~~fJ.

Mention the law of supply.

g) =s= ~oZJ=d<wodde~?What is production function?

P.T.O.

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h) ~~ e.ro3~de~o:b e~F c:Je~.wc{

Give the meaning of ISO-product curve.

i) ecj'5V~cj'i<wodde~ ?

What is opportunity cost?

j) ~d:),5~ ecjt;J <wodde~ ?

What is market period?

k) ~~;w~de~Fcj~~~~.

Give the meaning of monopoly.

I) ~ovwd cj'i~~<wodde~ ?

What are selling costs?

m) e~l)~d 23e~5 <wodde~?

What is derived demand?

n) w~<wodde~?

What is interest?

PART-B

(Analytical Type)

~~<:J.)d~ ~~ c3~~~713~ 15-20 ~~~~eJM ~l)~. ~~ c3~715eo~~~:

Answer any five of the following in 15-20 sentences each. Each question carriesfive marks : (5x5=25)

2. ero3VdNV ;W~r3V de~ w71~cdr@wd()j)l).w Q () W

Write a short note on production possibility curve.

3. zz<:J.)~e~cj5de~~~ ~~<:J.)d~ NV~ o~,r~~~~~OW~f) c':)cjl)~.

Briefly explain any four characteristics of indifference curve.

4. 23e~5o:b~~~cd~~d ~a5~cj~ c':)cjl)~.

Explain the importance of elasticity of demand.

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5. ~~5 C0cm~~~ o~~z.;~d ~~l1 c':)~a~.

Dlaqrarnatically explain the law of supply.

6. ~~c:tDw ~~c;fu~ c;j,~e) c:Jcm~d wf: Mc;j~ wOdba ..../ (\ c.J

Write a note on the law of diminishing marginal returns.

7. c;ja~r@F ~~~Mcm~ uv~d ~05~~~ ~~~.State the role of time element under perfect competition.

8. ~eJcm dddeJj ~~zS;;J~uvdr@r:~ o.m~~?

What are the causes for wage differentials?

PART -C

(Essay Type)

o.m~OVdM ~~ cj~r:~f:3~ 3-4 ~~r:~~ ~a~. ~~ cj~f: ~O~d;) e:lol1r:~:Answer any three of the following in 3-4 pages each. Each question carries15 marks : (3x15=45)

9. ~~c:tDw ~~c;fu~ ~&!rbr@C0cm~~c::bc':)~~F:il1c;.).)"c':)~a~.e.J <{ e;

Critically explain the law of diminishing marginal utility.

1O. zj~~5o:bC0cm~~c::bc':)~a~.e:ldd e:lc;jc;.).)dr:~c::b~~~.<{ <(

Expain the law of demand. State its exceptions.

11. ~~zSM)~l1cjc;fur@r:~C0cm~~~ c;ja~~eJ~.

Examine the law of variable proportions.

12. M)~.0fu3 ~,~~M c;fudJl1~cmeJzj~ ~ ero3~C0QVFd~c::bc':)~a~.() <:J e.J M ...J) c.J<{ <(

Explain the determination of price and output under monopolistic competition.

13. ~~drCl~c':)~wtt~~~~~ c':)~~F~l1c;.).)"c;ja~~eJ~.

Critically examine the Liquidity Preference Theory of Interest.