B.A. LLB 1st Semester Economics Most Important Questions 2024

In this post, b.a. llb 1st semester economics important questions are given keeping 2024 in mind. 

Be careful while writing answers to these questions. 

By writing accurate answers to the questions given in this set, you can make notes for yourself and your preparation will also be complete from the exam point of view. 

First, write them down in your Economics Law notebook, then read the relevant chapter in your textbook 2 to 3 times. 

Clear your concepts on that lesson. 

Now try to write the answers to these questions in your own words. 

There will be some difficulty in the beginning, but after that, you will be able to write the answers easily with a little effort. 

If you are still not able to write the correct answer, then contact your teacher or professor to resolve your difficulties. 

Before solving these questions, match them with your syllabus, if the question is out of the syllabus then use this set as a practice set. 

Prepare for the exam only on the basis of the chapters given in your syllabus. 

All questions are compulsory. 

Many sets of llb 1st semester economics question papers will be available on the internet. 

Which you can use to practice. 

All the questions given below have been selected on the basis of previous year question paper LLB. 

This will help you understand the pattern of questions. 

After getting the question paper in the examination hall, first of all, read the instructions given on the first page carefully. 

Try to answer the questions following those guidelines. 

Let's solve this b.a. llb 1st semester economics question paper.

Economics-i(Principles Of Economics) Important Questions

B.A. LLB 1st Year 1st Semester Economics Question Paper

• Discuss the nature and scope of Economics.
• Describe "Capital Formation"? What are the stages of capital formation?.
• What is the central problem of an economy? Why does it arise? Explain.
• Explain the merits and demerits of the mixed economic system.
• Define Elasticity of supply. What is the method of measurement of supply?
• Explain the various cost concepts and cost curves.
• Explain the process of Capital Formation. Why capital formation is low in India?.
• Explain the Law of Equi-Marginal utility.
• Define Monopoly. Discuss equilibrium and price determination under Monopoly.
• Explain the Law of demand with the help of a diagram.
• What is the shape of the Average Revenue Curve in different market structures?.
• Explain the Law of variable proportions. 
• What are the determinants of National Income?.
• Explain the properties of Labour and Capital. 
• Describe the functions of Commercial Bank.
• Explain the features of perfect competition.
• Explain the following in brief:- (a) Any three assumptions of Economics (b) Economics as an Art (c) Demand Schedule and Deman Curve.
• Explain the features and types of oligopoly markets.
• Write short notes on the following- (a) Average Fixed Cost and Average Variable Cost (b) Fixed proportion production function (c) Marginal physical product.
• Explain the Loanable Fund Theory of Interest. 
• Point out the characteristics of "Perfect Competition"? Distinguish between market price and normal price in perfect competition.
• What is the selling cost?
• Write short notes on the following- (a) Deductive method and inductive method (b) Phases of trace cycle (c) Exceptions to the law of supply. 
• Critically explain the Marginal Productivity theory of distribution. 
• What is the difference between GNP and GDP?
• Write an essay on the importance of studying "Economics" in the field of Law. 
• Differentiate the "Real Wage and Money Wage".
• Enumerate the role of Technology in Economic Development? And how does technology affect economic growth?.
• Write short notes on the following- (a) Production function (b) Increasing Return of scale.
• Government has been an important source of Rural Credit both for short and long term periods - Analyze.
• Write a short note on the following- (a) Merits and demerits of Microeconomics (b) Consumer's Surplus (c) Properties of Indifference Curves.
• Write short notes on the following- (a) Characteristics of "Oligopoly" (b) Wage differentials based on Sex (c) Motives of personal saving and business saving (d) Budget and deficit financing.
• Define Rise and Fall in Demand? And list out the causes of changes in demand?.
• Explain the following briefly:- (a) Giffen goods (b) Land and Rent (c) Consumer protection and law (d) Taxable capacity (e) Kinds of Money (f) Scarcity definition (g) Foreign capital (h) Repo rate.

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