NALANDA OPEN UNIVERSITY M.A. (Economics) PART–I, PAPER–I
Micro Economic Analysis Question Paper
Full Marks : 80
Annual Examination, 2010
Time : 3 Hours
Answer any Five Questions. All questions carry equal marks.
1- 'Economics is a science of wealth'. Discuss.
2- What is deductive method of economic study ? Explain its merits and demerits.
3- Describe the uses and limitations of economic model.
4- What do you mean by marginal utility and total utility ? Explain their mutual
relationship.
5- What is elasticity of demand ? Describe various methods of measuring elasticity of
demand.
6- Clearly draw a distinction between actual cost and opportunity cost.
7- What do you understand by the equilibrium of an industry ? Discuss the equilibrium
of an industry under perfect competition.
8- Clearly underline the meaning of the following :–
(i) (Perfect Competition)
(ii) (Monopoly)
9- What is oligopoly ? What are its Characteristics ? Mention the classification of
oligopoly.
10- Compare the definitions of Economics given by Marshall and Robbins.
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