T.U B.A 1st year Economics Question paper
Eco 421 (2078 partial / 2079 regular)
Attempt any two questions from group A and four from group B
Group A ( Long question answer) 30 marks
How consumers attain the equilibrium under indifference curve? Show the effect of change in price and income on consumer's equilibrium.
Explain the theory of the law of variable proportions and state that why stage 2nd is the only stage of the production for the rational producer.
Explain liquidity preference theory of interest. How is it different from the classical theory?
Group B (short question answer) 40 marks
Define microeconomics. Describe the different types of microeconomics analysis.
What is price elasticity of demand? Explain its type using appropriate diagram.
Explain consumers surplus using an appropriate diagram.
How price and outputs are determined under the perfect competition.
Explain the marginal productivity theory of wages.
Explain the concept of social welfare and welfare function.