D 93975 (Pages : 2) वा

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‎FIRST SEMESTER B.A/B.Sc. DEGREE EXAMINATION
NOVEMBER 2020

‎(CBCSS)
‎Economics

‎ECO 1B 01—MICROECONOMICS—I
Two Hours and a Half Maximum : 80 Marks

‎Section A (Short Answer Questions)

‎Answer at least ten questions.

‎Each question carries 3 marks.

‎All questions can be attended.
Overall Ceiling 30.

‎. What is meant by value judgment ?
. State ‘constant returns to scale’.

‎Define ‘hypothesis’.

‎Explain the law of elasticity of supply.

‎What is MRT,, ?

‎Define Transformation curve.

‎What is meant by price line ?

‎Distinguish between cardinal utility and ordinal utility ?
Explain the concept of consumer surplus.

‎What is meant by returns to scale 7

‎. What is the elasticity of demand for a Giffen good ?
. What is ceteris paribus ?

‎. Define equilibrium in economics.

‎State Engel’s law.

‎Define budget line.
(10 x 3 = 30 marks)

‎Turn over