Punjab University B.

Com Part 1 Past Papers

Economics 2005
Time: 3 Hours
Marks: 100
Note: Attempt any five questions. All questions carry equal marks.
Q.1. Critically examines Robbins definition or Economics
Q.2. Explain the law of diminishing Marginal utility with the help
of schedule and diagram.
Q.3. what is elasticity of demand how is it measured?
Q.4. Explain with the help of Schedule and diagram the law of
diminishing return.
Q.5. How ls price. And output determined under monopolistic
competition? '
Q.6. Critically examine the Ricardian Theory of Rent.
Q.7. Explain the different methods of measurement of National income. Point out the
difficulties in its correct measurement.
Q.8. If C = 200 + 50Q-4Q2+Q3
(I) Find the marginal cost function
(ii) Find the slope of marginal cost function
Q.9. Write short notes on Following
i) Consumer Surplus
ii) Direct and Indirect Taxes
iii) Four cannons of taxation
iv) Impact of zakat on production

Economics 2008
Q.2.

State and explain the Law of Equi-MU with the help of a

schedule and diagram. What are its limitations, (15,5)

Q.3.

What is an Indifference Curve? State and prove the main

properties of Indifference Curves by diagrams. (5. 15)

Q.4.

Define Price Elasticity of Demand. Explain various methods

of measurement of Price Elasticity.
(5,15)

Q.5.

State and explain the Law of Variable Proportions with the

help of a Table and Diagram.
(20)

Q.6.

Define Monopoly. Explain short and long run Equilibrium of

fine under monopoly.
(5. 15)

Q.7.

State and explain Marginal Productivity Theory of

Distribution. What grounds it has been criticized, (5. 15)

Q.8.

Define National Income. Explain various methods of

measurement of National Income.
(5, 15)

Q.9.

Given the following Total Cost function of, firm

(5,5,5,5)
C = 5000 + 1000Q - 40Q2 + 23Q3
I. Find MC function
II. Find Slope of MC function
III. Find AVC function

IS At what level of output MC = AVC

Economics 2006

Q.2 State and explain the law of Equi Marginal utility with the help of a schedule and diagram.
Q.3 State explains and proves the main properties of indifference curves.
Q.4 Define elasticity of demand. Explain various methods to measure elasticity of demand.
Q.5 State and explain the law of variable proportions with the help of a schedule and diagram.
Q.6 Define monopoly. Explain how price and output is determined under monopoly in the short and
long run.
Q.7 Interest is the lowered for parting liquidity. Discuss and explain.
Q.8 Define national income. Explain various methods of measurement of national income.
Q.9 Given the total cost function of a firm.
C = Q) - 10Q1 + 50Q + 45
(i) Find Marginal cost function.
(ii) Find the slope of Marginal cost function.
(iii) Find Average Variable cost function.
(iv) At what level of output MC = AVC.

Economics 2007
Q2. State and explain the Law of Diminishing Marginal Utility with the help of schedule and diagram.

Q3. Define an indifference curve, show and explain how a consumer reaches equilibrium ,with the help
of Indifference Curves.
Q.4 Define Income and Cross Elasticity of Demand, Explain their
measurement ,with the help of mathematical examples.
Q.5 Distinguish between Fixed Cost and Variable Cost. Explain
the Family of Cost ,with the help, Of Schedule and diagrams,.
Q.6 Define Monopolistic Competition. Explain short and long rum
Equilibrium of a firm under Monopolistic Competition.
Q.7 Critically, examine Ricardian Theory of Rent
Q.8 Discuss various Canons or Principles of Taxes.
Q.9 Given the following total cost function
Tc = 35+ 5Q- 2Q 2-2Q
Find:
MC function
Average Total Cost (ATC)
Average Variable Cost (AVC)
Value of MC , ATC AND AVC, When Q=5

Economics 2009
Question No. 1
Compare Robins and Marshalls definitions of Economics. Which one is better?
Question No. 2
Explain the Law of Diminishing Marginal utility with the help of schedule and diagram.
Question No. 3
Define and explain Price Elasticity of Demand. Income Elasticity of Demand and cross Elasticity of
Demand
Question No.4
Critically examine Ricardian Theory of Rent.
Question No.5
What is Monopolistic competition? How is price and output determined under monopolistic
competition?
Question No. 6

Define National income and explain various concepts of national Income.

Question No.7
Discuss the various principles or canons of taxation followed by Modern governments.
Question No.8
The total cost function is given:
Tc=85+15Q-2Q2+2Q3
(a) Find FC and VC
(b) Find Mc
(c) Find slopes of Mc and AVC

Most Important Areas of Syllabus are :

Micro Economics
Introduction To Micro and Macroeconomics
Consumption Behavior: Law of Equi marginal , Law of Diminishing Utility,
Indifference Curves
Demand & Supply: Price Elasticity of Demand and its measurement.
Production: Law of variable proportions Factors of Production
Costs of Production: Fixed, Variable, Total, Average and Marginal.
Market: Competition, Monopoly and Monopolistic, Competition, Oligopoly,
Duopoly (Basic Concepts).
Factor Pricing: Rent, Interest
Macro Economics
National Income: Measurement of National Income, Difficulties in
Measurement.
Public Finance: Kinds of Taxes and Cannons of Taxation.
Economics in Islam: Economic role of State in Islam, Zakat and Usher.
Mathematical Economics: Differentiation of functions.