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FIRST SEMESTER (CBCSS—UG) DEGREE EXAMINATION, NOVEMBER 2021
Economics
ECO 1B 01—MICRO ECONOMICS—I
(2021 Admissions)
Time : Two Hours and a Half Maximum : 80 Marks
Section A

Answer atleast ten questions.

Each question carries 3 marks.

All questions can be attended.
Overall ceiling 30.

1. Define inductive method.
2. What is normative economics ?
3. Describe Production Possibility Curve.
4. Define Cross elasticity of demand.
5. What is demand forecasting ?
6. Explain weak ordering of preferences.
7. Define income effect.
8. What is a Giffen good ?
9. What is short-run production function ?
10. What does an isocost line show ?
11. How can the concept of ‏حا‎ shaped Cost curve be explained ?
12. What is implicit cost ?
13. Explain consumer surplus.
14. Define capitalism.
15. Present the scarcity definition of Economics.

(10 x 3 = 30 marks,

Turn over

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