LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – HISTORY
FOURTH SEMESTER – NOVEMBER 2012
EC 4206 – BASIC ECONOMICS
Date : 02/11/2012 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
PART – A
Answer any FIVE questions in about 75 words each: (4 x 5 = 20marks)
- Define Economics.
- Write a short note on TR and MR.
- Define the term Money
- What are the factors of production?
- Define GNP and GDP.
- What is meant by Deficit spending?
- Write a short note on classification of commercial Banks.
PART – B
Answer any FOUR questions in about 250 words each: (4 x 10 = 40 marks)
- Briefly explain the subject matter of economics.
- Explain the scope of public finance.
- Describe the functions of development banks.
- Explain the various phases of a Business cycles.
- Explain the role of public expenditure.
- Discuss the various causes of inflation.
- Define Demand and explain the law of demand with an illustration.
PART – C
Answer any TWO questions in about 900 words each: (2 x 20 = 40 marks)
- Explain the price -output determination under perfect competition.
- Discuss the various instrument s of credit control.
- Describe the merits and demerits of direct and indirect taxes.
- Discuss the components of national income and various methods to compute the same.