D 73330 (Pages : 2) ഞാം.

FIRST SEMESTER B.A/B.Sc. DEGREE EXAMINATION
NOVEMBER 2019

(CBCSS—UG)
Economics
ECO 1B 01—MICRO ECONOMICS—I
(2019 Admissions)

Time : Two Hours and a Half Maximum : 80 Marks
Section A (Short Answer Questions)

Maximum marks in this section is 25.
Students can attempt all.
Each question carries a maximum of 2 marks.

Define market equilibrium.

What is price theory ?

State the scarcity definition of Economics.

Distinguish between normative and positive economics
Why economic theory is always with inbuilt assumptions ?
What are the different economic systems ?

What is meant by budget line ?

Distinguish between normal good and Giffen good ?

@ PAA ೮ | ७० ப

Explain the concept of consumer surplus.

What is meant by returns to scale ?

+~ அ
۳ 2

. Distinguish between marginal cost and average cost.

. Why demand curve is sloping downwards.

امم
‎id‏

What is meant by shift in demand curve ?

[रेः
5

“What is Arc elasticity of demand 7
Explain the transitivity assumption.

++ ‏بر‎
‎ಆ ಈ

Turn over