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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
SUPPLEMENTARY EXAMINATION – JUNE 2007
EC 3103 - GENERAL ECONOMICS
Date & Time: 26/06/2007 / 1:00 - 4:00
Dept. No.
Max. : 100 Marks
Part - A
Answer any FIVE questions in about 75 words each.
1. Define Economics
2. State the reasons for the downward sloping demand curve.
3. Define Isoproduct Curve.
4. Differentiate between GDP and GNP?
5. Write short note on Central Bank?
6. What does Plastic Money mean?
7. Define Budget.
Part – B
(5 x 4 = 20 marks)
Answer any FOUR questions in about 300 words each.
(4 x 10 = 40 marks)
8. Explain the theory of Consumer Surplus?
9. Describe the exceptions of demand?
10. Explain the Law of Returns to Scale?
11. What are the functions of money?
12. Give a detailed account on the methods of calculating the national income and the difficulties
encountered while calculating it?
13. Explain the factors that influence consumption
14. Describe the different types of Public Debt?
Part – C
Answer any TWO questions in about 900 words each.
(2 x 20 = 40 marks)
15. Explain the various types of elasticity of demand?
16. Determine the price and output under monopolistic competition?
17. Elaborate on the various types of inflation and the measures to control them?
18. a. Explain the various sources of Public Revenue
b. Explain the need for Public Expenditure.
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