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BCOM Semester 1 (CCFIDC | MDC

Subject: Microeconomics

NEW SYLLABUS

SANJEEVNI BOOTI

➢ INTRODUCTION
2 marks question

1. What is opportunity cost?

2. Define microeconomics?
3. Is economics a Science or an art?
4. What is scarcity?
5. Who is the father of economics?
6. What is positive economics?
7. Distinguish between positive economics and normative economics.
8. Economics is a study of choice. Comment
9. What is production possibility curve?
10. What is MRT? OR What is the slope of the PPC?
11. Distinguish between microeconomics and macroeconomics.
12. What is labour intensive technique of production?
13. What is capital intensive technique of production?

5 marks question

1. Distinguish between microeconomics and macroeconomics

2. What are the central problems of economics?
3. Find the slope and intercept (vertical and horizontal) of the line 4x+7y=12
4. What is the Slope of Economics?

➢ DEMAND
2 Marks Question

What is Demand?

What do you mean by Demand schedule?

What are the types of demand curve?

What is Derived Demand?

What is Demand Function?

1
Distinguish between Substitute and Complementry goods?

7. What is Giffen goods?

MICROECONOMICS
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BCOM Semester 1 (CCF) IDC | MDC

Subject: Microeconomics
NEW SYLLABUS

SANJEEVNI BOOTI

➢ DEMAND
2 Marks Question

1. What is Demand?
2. What do you mean by Demand schedule?
3. What are the types of demand curve?
4. What is Derived Demand?
5. What is Demand Function?
6. Distinguish between Substitute and Complementary goods?
7. What is Giffen goods?
8. What is inferior Goods?
9. What is Elasticity of Demand?
10. What is Income Elasticity of Demand?
11. What is Cross Price Elasticity of Demand
12. What do you mean by Arc Elasticity?
13. Define price elasticity of demand?

5 Marks questions

1. What are the Determinants of Demand?

2. What is Law of Demand. State its assumption?
3. Why does a Demand Curve Have Negative Slope?
4. What are the Exceptions of Law of Demand?
5. Briefly Explain Change in Demand and Change in Quantity Demanded

10 Marks questions

1. What are the different Types of Price Elasticity of Demand?

➢ SUPPLY
2 Marks questions

1. What do you mean by law of supply?

2. What is supply Curve?

3. What is Elasticity of Supply? 2

MICROECONOMICS
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BCOM Semester 1 (CCF) IDC | MDC

Subject: Microeconomics
NEW SYLLABUS

SANJEEVNI BOOTI
➢ SUPPLY
2 Marks questions

1. What do you mean by law of supply?

2. What is supply Curve?
3. What is Elasticity of Supply?

5 Marks questions

1. What is Price Elasticity of Supply?

2. What is movement along the Supply Curve and Shift of the Supply Curve.

➢ THEORY OF CONSUMER BEHAVIOUR

Marginal Utility Analysis

2 Marks questions

1. What is Utility?
2. How do You Measure Utility? [hint - ordinal and Cardinal Approach]
3. What are the Types of Utility?
4. What is Marginal Utility?
5. What is Consumer Surplus?

5 Marks questions

1. Explain the Law of Diminishing Marginal Utility?

2. Discuss the Significance of Consumer Surplus?

10 Marks questions

1. Briefly Explain the Consumers Equilibrium in Case of Single Commodity and in Case of Two Commodities.

➢ Indifference curve theory

1. What is indifference curve? 3

2. What is the slope of indifference curve? OR What is marginal rate of substitution?

3. What do you mean by consumers equilibrium?

MICROECONOMICS
4. What is Indifference map?
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BCOM Semester 1 (CCF) IDC | MDC

Subject: Microeconomics
NEW SYLLABUS

SANJEEVNI BOOTI
➢ Indifference curve theory
2 Marks questions

1. What is indifference curve?

2. What is the slope of indifference curve? OR What is marginal rate of substitution?
3. What do you mean by consumers equilibrium?
4. What is Indifference map?
5. What is the equation of budget line?
6. What is the slope of budget line?
7. What are the equilibrium conditions of consumer's utility maximization?

5 marks question

1. What are the axioms of consumer equilibrium analysis?

2. Why is indifference curve downward sloping?
3. Why is indifference curve convex to the origin?
4. Higher the indifference curve, higher is the utility…… Explain
5. Prove that two indifference curves do not intersect each other.
6. What will happen to the budget line under the following circumstances---
i) Good x becomes cheaper
ii) Good y becomes cheaper
iii) Money income of the consumer rises
iv) Money income and prices of both the good rises at the same rate

Short run production

4
2 marks question

What is production function?

What is short run production? MICROECONOMICS

What is long run production?
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BCOM Semester 1 (CCF) IDC | MDC

Subject: Microeconomics
NEW SYLLABUS

SANJEEVNI BOOTI
➢ Short run production
2 marks question

1. What is production function?

2. What is short run production?
3. What is long run production?
4. What is the difference between short run and long run?
5. What is law of variable proportion?
6. What is average product of labour?
7. What is marginal product of labour?
8. What are the assumptions of Law of Variable Proportion?

5 marks question

1. Why is Total Product of Labour TPL curve convex or concave?

2. Derive average product of labour APL from TP.
3. Derive marginal product of labour MPL from TP
4. What is the relationship between AP and MP.

10 marks question

1. Explain with diagram the concept of law of variable proportion explaining in detail the slope of TPL curve.
2. What is the most economic zone of production? Explain with diagram
3. Distinguish between Returns to a Factor and Returns to a scale

➢ Long run production

2 marks question

1. What is isoquant curve?

2. What is the slope of isoquant curve? OR What is marginal rate of technical substitution?

3. What is the equation of isocost line?

4. What is Returns to Scale

5. What is the slope of isocost line?

6. What is Fixed and Variable Inputs? 5

7. What are the equilibrium conditions of producer's output maximization?

8. What is increasing return to scale?

9. What is decreasing return to scale? MICROECONOMICS

10. What is constant return to scale?
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BCOM Semester 1 (CCF) IDC | MDC

Subject: Microeconomics
NEW SYLLABUS

SANJEEVNI BOOTI
➢ Long run production
2 marks question

1. What is isoquant curve?

2. What is the slope of isoquant curve? OR What is marginal rate of technical substitution?
3. What is the equation of isocost line?
4. What is Returns to Scale
5. What is the slope of isocost line?
6. What is Fixed and Variable Inputs?
7. What are the equilibrium conditions of producer's output maximization?
8. What is increasing return to scale?
9. What is decreasing return to scale?
10. What is constant return to scale?

5 marks question

1. What are the assumptions of producer equilibrium analysis?

2. Why is isoquant curve downward sloping?
3. Why is isoquant curve convex to the origin?
4. Higher the isoquant curve, higher is the output Explain
5. Prove that two isoquant curves do not intersect each other.
6. What will happen to the isocost line under the following circumstances---
i) Labour becomes cheaper
ii) Capital becomes cheaper
iii) Producer's cost rises
iv) Producer's cost and prices of both the input rises at the same rate

MICROECONOMICS
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BCOM Semester 1 (CCF) IDC | MDC

Subject: Microeconomics
NEW SYLLABUS

SANJEEVNI BOOTI
➢ COST
2 marks question

1. What is the difference between short run cost and long run cost?
2. What is total fixed cost?
3. What is opportunity Cost?
4. What is Economic Cost?
5. Distinguish between Implicit cost and Explicit cost?
6. What is total variable cost?
7. What is marginal cost?
8. What is the difference between economic cost and accounting cost

5 marks question

1. What is the shape of average fixed curve? Draw the curve. Explain
2. What is the shape of average variable curve? Draw the curve. Explain
3. What are the relation among average cost, average variable cost and marginal cost?

➢ Revenue and Market

2 marks question

1. What is the demand curve of a perfectly competitive firm?

2. What is the relationship between demand curve and marginal revenue in a perfectly competitive firm?
3. What is the relationship between demand curve and marginal revenue in a monopoly market?
4. What do you mean by homogeneous goods?
5. What is the difference between price taker and price maker?
6. What is the difference between normal profit and supernormal profit?
7. What are the necessary and sufficient conditions of profit maximization?

5 marks question

What are the features of a perfectly competitive firm?

What are the Features of Monopoly Market?

MICROECONOMICS
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///SEM 1 CCF///

BCOM Semester 1 (CCF) IDC | MDC

Subject: Microeconomics
NEW SYLLABUS

SANJEEVNI BOOTI
5 marks question

1. What are the features of a perfectly competitive firm?

2. What are the Features of Monopoly Market?
3. Draw the supply curve of a perfectly competitive firm. Explain
4. What is perfect price discrimination?
5. What are the conditions of profitability of price discrimination of a monopolist?

10 marks question

1. What are the shutdown conditions of a perfectly competitive firm with special reference to short run
supply curve of the firm?
2. Explain equilibrium for profit maximisation of a perfectly competitive firm in the short run.
3. Explain equilibrium for profit maximization of a monopolist in the short run.
4. Show that a perfectly competitive firm earns only normal profit in the long run.

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