Fundamentals of Economics 2018 Question Paper — Government College of…
The 2018 Fundamentals of Economics previous year question paper (Government College of Engineering and Technology, Jammu), with every question and its marks.
- University: Government College of Engineering and Technology, Jammu
- Subject: Fundamentals of Economics
- Course: ENGINEERING ECONOMICS
- Year: 2018
- Paper: end-term
- Duration: 180 minutes
- Total marks: 100
Instructions
- Attempt five questions in all selecting at least two questions from each Section. Each question carries 20 marks.
Questions
Section - A
- Q1. Critically discuss the "Science of Material Welfare" definition of economics. [20 marks]
- Q2. Distinguish between capitalism and mixed economic system and what are the main features of mixed economic system? [20 marks]
- Q3. Discuss the properties of an indifference curve and give the equilibrium of the consumer with the help of indifference map and the budget line. [20 marks]
- Q4. Explain the types of elasticity of demand and what are the determinants of price elasticity of demand? [20 marks]
Section - B
- Q5. Explain the terms increasing, constant and decreasing returns to scale. Are all of them consistent with the law of variable proportions? [20 marks]
- Q6. Explain the main features of monopoly and distinguish it from oligopoly. [20 marks]
- Q7. Discuss the main functions of commercial bank and central bank. [20 marks]
- Q8. Define trade cycle, discuss its characteristics and different phases. [20 marks]
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- Fundamentals of Economics 2018 question paper — end-term
- Fundamentals of Economics 2018 question paper — end-term
- Fundamentals of Economics 2018 question paper — end-term