Past Papers Micro Economics for Commerce


Subject: Economics (micro) for Commerce

Time Allowed: 15 Minutes

Max Marks: 10

NOTE: Attempt this Paper on this Question Sheet only. Please encircle the correct option. Division of marks is given in front of each question. This Paper will be collected back after expiry of time limit mentioned above.


Part-I Encircle the right answer, cutting and overwriting are not allowed. (10)

Microeconomics is related to study of economic theory at

a) An individual level b) At an aggregate level

c) The country level d) the consumer level only

e) Any level

2. Indifference Curves slope negatively because of

a) being convex to origin b) trade-off between goods

c) Intersection with each other d) All of the above

e) None of the above

3. We may observe a rise in demand when

a) There is a general rise in income b) Population grows.

c) price of the substitute increases. d) All of the above

e) None of the above

4. The price elasticity of demand for necessities of life is

a) high b) Unity

c) Zero d) low

e) none of the options

Ina free market, the intersection of demand and supply curves shows

a) Consumer’s Equilibrium b) General Equilibrium

c) Market Equilibrium d) Producer’s Equilibrium

e) None of the above

Production may vary due to change in employment of

a) Land b) labor

c) Capital d) Organization

e) all of the above

The characteristics of monopoly include

a) A single firm b) Control over price

c) Barriers to entry of firms d) All of the above

e) None of the above


a) is often the market situation b) is always the market situation

c) is the only type of market d) is never the market situation

e) None of the above

Factor pricing is a theory related to

a) Price b) Factor inputs

c) cost d) Supply

e) None of the options

For Minimization the second order derivative must be

a) zero b) positive

c) negative d) maximum

e) minimum