Posted by : Ahsan Khan Tuesday, 26 February 2013



GC UNIVERSITY, FAISALABAD

PART – I         Annual – 2012

Examination: - B. Com.

                                                                                                Roll No. . . . . . . . . . . . .
                       

Subject:  Economics                                                            TIME ALLOWED: 3 hrs.
PAPER:  BC-303                                                                   MAX. MARKS: 100
 



Attempt any FIVE questions.
All questions carry equal marks.


Q. 1.    Economics is a science of scarcity and choice. Discuss?

Q. 2.    State and explain the law of Diminishing Marginal utility with the help of schedule and diagram?

Q. 3.    Define elasticity of demand. How is it measured?

Q. 4.    Explain the behaviour of cost curves of a firm in the short run with the help of schedule and diagrams?

Q. 5.    Explain the conditions for equilibrium of a firm? Discuss short run equilibrium of a firm under perfect competition.

Q. 6.    Define National Income? Discuss the various concepts of National Income and indicate their relationships.

Q. 7.    Discuss the various canons of taxation?

Q. 8.    If the profit function is as under:

 Profit = 1/3Q3 + 8Q2 - 28Q - 90
 Then find:
(i)            The equilibrium quantity where Profit is maximum?
(ii)           The amount of Profit?

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