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FIRST SEMESTER B,A. DEGREE EXAMINATION, NOVEMBER 2014
(CUCBCSS-UG) ०
Core Course
Economics
ECO IB 01 - MICRO ECONOMICS - I

(Common for Development Economics — Economics Foreign Trade and
Economics with Islamic Finance)

Time : Three Hours Maximum : 80 Marks
Answers may be written either in English or in Malayalam.
Part A
Answer all twelve questions.

1. Systematic Explanation of observed phenomena in terms of a set of basic rules and assumption is

called : #
(a) Hypothesis. (b) Model.
(c) Theory. (8) Prediction.
2. Statement that describe relationship of cause and effect is called :
(a) Ideology. (b) Value Judgement.
(c) Normative Statement. (d) Positive Statement.

3. The curve that shows all the alternative combinations of two consumption goods that yield the
same utility is :

(a) Demand Curve. (b) Indifference Curve.
(c) Production Possibility Curve. (d) Cost Curve.
4. Intersection of indifference curves is illogical because :
(a) More is better than lesser. (b) diminishing marginal utility.
(c) Transitivity assumption. (d) bothaande.

5. Suppose that the price elasticity of demand for a Compact Disk has been estimated at ‘2’. If quantity
demanded of CD to increase by 10 percent, the price must have been changed by :

(a) 5 percent. (b) 0 percent.
(c) 10 percent. (d) 100 percent.

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