Most Important Question of ECONOMICS (BC – 303)
Q.1 Explain the definition of Economics given by Alfred Marshall. Also explain its merits and demerits.
Q.2 Explain the definition of economics given by Lionel Robbins also give merits and demerits of Robbins’s definition of economics.
Q.3 What do you understand by the law of diminishing marginal utility? Explain by diagram and discuss its assumptions and limitation.
Q.4 State and explain the law of Equi-Marginal Utility. Explain by diagram and discuss its assumptions and limitation.
Q.5 Define indifference curves. Explain the main characteristics or properties of indifference curves.
Q.6 State and explain law of demand. On what parameters it proves true.
Q.7 Define elasticity of demand and Explain the methods of measuring elasticity of demand.
Q.8 Explain the law of variable proportions with the help of a schedule and a diagram?
Q.9 Discuss the equilibrium of the firm in the short period under perfect competition.
Q.10 Define Monopolistic Competition. Discuss the output determination under monopolistic competition in the short run and in the long run.
Q.11 Explain critically the marginal productivity theory of distribution and also give of limitations.
Q.12 Explain critically the Ricardian theory of rent.
Q.13 Explain the Keynesian liquidity preference of interest.
Q.14 Define National Income. Discuss the various concepts of National Income
- Gross National Product (GNP)
- Net National Product (NNP)
- Gross Domestic Product (GDP).
- Personal Income (P.I.)
- Disposable Personal Income (DPI).
Q.15 Define National Income. Discuss the different methods of measuring National Income?
Q.16 Discuss the Principles or Cannons of Taxation?
Q.17 Define direct and indirect taxes also give their advantages and disadvantages.
Q.18 What is Zakat? Also discuss the impact or role of Zakat in the economic system.