No. of Printed Pages : 7 ECO-6
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
June, 2011
ELECTIVE COURSE : COMMERCE
ECO-6 : ECONOMIC THEORY
Time : 2 hours. Maximum Marks : 50
(Weightage 70%)
Note : The paper contains three sections A, B, C. Instructions
are given in each section along with marks.
SECTION - A
Answer any two questions from this section. 2x12=24
1. What is an economy ? Explain an economy as a
system of circular flows.
2. What is budget line ? Explain the equilibrium of
a consumer with the help of indifference curve
analysis.
3. Explain the concept of consumer's surplus. What
are its limitations ?
4. What are economies of scale ? Explain different
forms of economies of scale.
ECO-6 1 P.T.O.
SECTION - B
Answer any two questions from this section : 2x8=16
5. Describe the return to scale. Explain the causes
of increasing return.
6. What is long run cost curve ? Why is short run
Average cost curve 'U' - shaped ?
7. What is market structure ? Explain the main
features of monopolistic competition.
8. What do you mean by elasticity of supply ?
Explain its determinants.
ECO-6 2
SECTION - C
Answer any one question from this section.
9. Explain following concepts : 5, 5
(a) Economic costs
(b) Discriminating monopoly
10. Distinguish between the following : 5, 5
(a) Production cost and Selling cost
(b) Rent and Quasi rent
ECO-6 3 P.T.O.
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ECO-6 7
No. of Printed Pages : 4 ECO-5
BACHELOR'S DEGREE PROGRAMME
•41
tr) Term-End Examination
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0 June, 2011
ELECTIVE COURSE : COMMERCE
ECO-5 : MERCANTILE LAW
Time : 2 hours Maximum Marks : 50
Note : Answer any five questions. All questions carry equal
marks.
1. (a) "All contracts are agreements but all 5, 5
agreements are not contracts." Comment.
(b) Distinguish between 'void agreements' and
'voidable contracts'.
2. Under what circumstances contracts without 10
consideration are valid ? Explain.
3. Define the term coercion. What are the essentials 2, 8
for a coercion ?
4. What do you mean by discharge of a contract ? 2, 8
Discuss the "Discharge by breach" with examples.
ECO-5 1 P.T.O.
5. Explain the circumstances when the agent 10
becomes personally liable on the contracts entered
into by him on behalf of his principal.
6. Explain the differences between sale and an 10
agreement to sell.
7. Explain the procedure for registration of 5, 5
partnership firm. What are the consequences of
non - registration ?
8. Who is finder of goods ? Explain the rights and 2, 8
duties of a finder of goods.
9. (a) Distinguish between a 'condition' and a 6
'warranty'.
(b) Rohan contracts to sell Shyam timber of half 4
inch thickness. The timber actually supplied
varied in thickness from half inch to 1.25
inch and it was fit for the purpose. Can
Shyam reject the timber ? Give reasons in
support of yours answer.
ECO-5 2
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ECO-5 4