No.

of Printed Pages : 4 I ECO-0061

BACHELOR'S DEGREE PROGRAMME
Term-End Examination
June, 2018
ELECTIVE COURSE : COMMERCE
ECO-006 : ECONOMIC THEORY
Time : 2 hours Maximum Marks : 50
Weightage : 70%

Note : This paper contains three sections A, B and C.

Instructions are given in each section along with marks.

SECTION - A
Answer any two questions from this section. 2x12=24

1. Explain the concept of 'Consumer's Surplus'.

State its limitations.

2. What are the main determinants of demand for a

consumer ? Explain.

3. What is an economic system ? Explain the

fundamental problems of an economy.

4. What do you understand by the term

? Explain its features in brief.

ECO-006 1 P.T.O.
 SECTION - B
Answer any two questions from this section. 2x8=16

5. What do you understand by the term 'Supply' ?

Explain its main determinants.

6. Explain the characteristics of the following :

(a) Perfect competition
(b) Monopolistic competition

7. Explain the meaning of the term 'Oligopoly'.

What are the basic characteristics of an Oligopoly
market structure ? Explain.

8. Discuss the 'Recardian Theory of Rent'. What are

its assumptions ? Explain.

SECTION - C
Answer any one question from this section :

9. Explain the following :

(a) Cartel 5
(b) Price leadership 5

10. Distinguish between :

(a) Interest and Profit 5
(b) Formal collusion and Informal collusion in 5
relation to oligopoly

ECO-006 2
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ECO-006 3 P.T.O.
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