**2022**

**ECONOMICS**

__Full Marks: 100__

Pass Marks: 30

Time: 3 hours

The figures in the margin indicate full marks for the questions

PART – A

**(Introductory
Microeconomics)**

1. Answer the following:

(a) State the law of supply. 1

(b) What is break-even point? 1

(c)
What is the shape of a
perfectly inelastic demand curve? 1

(d) What does a point below the production possibility curve indicate? 1

(e) What is market economy? 1

(f)
What do you understand by price
ceiling? 1

2. What is opportunity cost? Explain with an
example. 1+1=2

3. Write the law of variable proportion. 2

4. State the law of demand and draw a demand
curve. 1+1=2

5. Prove that for a firm, price = average
revenue. 2

6. Write the conditions of firm’s
equilibrium. 2

7. How does imposition of per unit tax affect
supply curve of a firm? 2

8. Discuss the characteristics of perfect
competitive market. 4

9. With the help of demand and supply curve,
explain how market equilibrium is attained. 4

10. Explain the law of diminishing marginal
utility. 4

Or

What is price elasticity
of demand? Discuss any one method of calculating price elasticity of demand. 1+3=4

11. Define production function. The
production function of a firm is given as, where Q is output, L is labour employed and K is capital
employed. Determine the level of Q, whereand. 1+3=4

Or

Discuss the determinants
of supply. 4

12. Write the differences between monopoly
market and monopolistic competitive market. 4

13. Explain how a consumer attains
equilibrium while consuming two commodities. 6

Or

What is an indifference
curve? Draw an indifference curve and discuss its properties. 1+1+4=6

14. Define average fixed cost (AFC), average
variable cost (AVC) and average cost (AC). Draw the AFC, AVC and AC curves indicating
their interrelation. 3+3=6

Or

Calculate TFC, TVC, AVC,
AFC, AC and MC schedule from the following table: 6

Amount
of Production (Q) |
0 |
1 |
2 |
3 |
4 |
5 |
6 |

Total
Cost (TC) |
40 |
100 |
120 |
130 |
150 |
190 |
250 |

PART – B

**(Statistics for Economics)
**

15. Answer the following:

(a) Who forwarded the welfare definition of economics? 1

(b) Write one limitation of statistics. 1

(c)
Write the direct method of
calculating arithmetic mean in case of discrete variable. 1

(d) Write the full form of NSSO. 1

(e) Who is known as the father of statistics? 1

(f)
Write one difference between
diagrammatic presentation and graphical presentation of data. 1

16. Calculate range and range coefficient
from the following data: 1+1=2

12, 15, 18, 21, 24, 27

17. Write two differences between discrete
variable and continuous variable. 2

18. What do you understand by relative
measures of dispersion? 2

19. Write two differences between histogram
and bar diagram. 2

20. Write two limitations of ‘direct personal
investigation’ method of data collection. 2

21. Write two features of statistics. 2

22. Briefly write about the methods of
classification of data. 4

Or

Write the objectives of
tabulation of data. 4

23. The marks obtained by 9 students of a
class are given below. Calculate mean deviation: 4

22, 65, 40, 50, 38, 20,
70, 25, 75

Or

Write a note on Lorenz
curve. 4

24. Calculate Karl Pearson’s correlation
coefficient from the following data: 4

X: |
6 |
8 |
12 |
15 |
18 |
20 |
24 |
38 |
31 |

Y: |
10 |
12 |
15 |
15 |
18 |
25 |
22 |
26 |
28 |

Or

What is rank correlation?
Briefly outline its demerits. 1+3=4

25. Calculate mode from the following
frequency distribution: 4

X: |
0-10 |
10-20 |
20-30 |
30-40 |
40-50 |
50-60 |
60-70 |
70-80 |

F: |
4 |
12 |
18 |
25 |
16 |
9 |
7 |
3 |

What is Median? Discuss
its merits. 1+3=4

26. Write the characteristics of an ideal
average. 4

27. Write short notes on: 3+3=6

(a) Wholesale price index.

(b) Consumer price index.

Or

Discuss the use of index
number in the study of economics. 6

28. Discuss the characteristics of a good
questionnaire. 6

Or

Draw a histogram and a
frequency polygon from the following data: 4+2=6

Marks
Obtained: |
10-20 |
20-30 |
30-40 |
40-50 |
50-60 |
60-70 |

No.
of Students: |
5 |
12 |
15 |
22 |
19 |
4 |

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