This question paper contains 7 printed pages] Your Roll No STIR SHAH 5363 B.Com/I JI Paper IV — PRINCIPLES OF ECONOMICS (NC : Admission of 2006 onwards) Time : 3 Hours Maximum Marks : 100 wry: 3 Ae qo : 100 (Write your Roll No. on the top immediately on receipt of this question paper.) (aa wea & fred at oe feu Tu frufice ear wt aon orarain fafa 1) Note :— Answers may be written either in English or in Hindi; but the same medium should be used throughout the paper. So WS-Ta Sat STS aT fext feet wa aT 4 die, afar ait a a areas we a ear afer | Answer any Five questions. All questions carry equal marks. fei uta wei & or df wit wed # sie wm Zt P.T.O.( 2) 5363 Draw a production possibility curve and discuss its slope. Explain briefly the following problems of an economy : (a) What to produce ? (6) How to produce ? 20 SaeT Bsa aH Uifau six gas seq Hl TAMET | aaa fou aden at frafafer arensi # TagEU : (#) Tr sores fear am? (@) searet HA fea se? (@) Explain the Law of Diminishing Marginal Utility. (6) How is a shift of a demand curve different from movement along a demand curve ? Explain. 10,10 (=) dar serif aa faq et ore aif | (@) ain am a fare Fin aH mW ae @ fra ver far 2 ? aFaEU) 5363 3 (a) Explain the concept of price-elasticity of demand. (6) Define price elasticity of supply. (c) Why does the measure of price-elasticity of demand have a negative sign ? (d) From the demand-schedule given below calculate price elasticity when price drops from 6 to 4: 7,3,3,7 Price (Rs.) Demand 6 50 5 15 4 125 (&) ain a ana ie at aoe wl aAeET P.T.O