~.

G. IC.I')

L-lIT-2/ME Date: 06/10/2013

BANGLADESH UNIVERSITY OF ENGINEERING AND TECHNOLOGY, DHAKA
L-l/T-2 B. Sc. Engineering Examinations 2011-2012

Sub: HUM 103 (Economics)

Full Marks: 210 Time: 3 Hours
USE SEPARATE SCRIPTS FOR EACH SECTION
The figures in the margin indicate full marks.

SECTION-A
There are FOUR questions in this section. Answer any THREE.

1. (a) What do you mean by inflation? Mention the causes of 'demand pull' and 'cost push'

inflation. (15)
(b) Compare graphically the effects of demand pull and cost inflation on the price level
•. _. I

and output. (20)

2. (a) Define Gross Domestic Product (GDP) and Gross National Product (GNP). (7)

(b) Explain different methods ofGDP measurement. (20)

(c) What items are not considered in GDP calculation? (8)

3. (a) Suppose the production equation of Google is TP ~ -3 L3 + 270L

2
,. (15)

Sketch a graph showing the relationship between the total product, average product and
marginal product curves of Google.

(b) What do you mean,by 'returns to scale'? Explain different types of 'returns to scale'. (2+3=5)
(c) What is 'opportunity cost'? Given'an example of 'opportunity cost'with the help of
Production Possibility Frontier (PPF). What will be the impact of the changes in

technology and resources on the PPF? (5+5+5=15)

4. (a) What is market? Mention the properties of different types of markets with examples. (10)
(b) What are the equilibrium conditions for a firm in a perfectly competitive market?
Show graphically the 'super normal profit', 'abnormal loss' and 'normal profit' for a firm

in perfect competition. (3+7=10)

(c) Consider an arbitrary cost function of a firm: (15)
TC = 2 Q3 - 36Q2 + 1500 Q , where TC ~ Total Cost

With the help of the above cost equation, derive the marginal cost and average cost
. , '

curves from the total cost curve and then show the relationship between total cost,

marginal cost and average cost curves. (15)

Contd ~ P/2
 =2=

HUM 103

SECTION-B
There are FOUR questions in this section. Answer any THREE.

5. (a) Define demand function. (5)

(b) What are the factors that influence the shifting of a demand curve? (10)

(c) What are the exceptions to the law of demand? Explain them. (10)
(d) How would you derive the market demand curve of a commodi~y? Explain

graphically. (10)

6. (a) Define income and cross elasticity of demand. (10)

(b) Show that price elasticity of demand varies from zero to infinity along any straight

line demand curve. (15)

(c) From the following table calculate elasticity of demand if you move from point B to

C and explain what you understand from the result. (10)

Point Px Qy

A 500 850
B 600 800
C 700 750

7. (a) How is price determined in an economy under competition? Explain graphically. (10)
\~; :
(b) What will happen to the equilibrium price and quantity due to change in demand? (10)
:I ~

(c) From the following demand and supply functions, calculate equilibrium price and

quantity and show the result in a graph. (15)

')-,:" '

P = 0.1 Q + 10
P =-0.5 Q + 50
if the demand function changes to
P = -0.6 Q + 36 .
then what will be the new equilibrium price and quantity? Plot the coordinates on the
graph and describe the change in equilibrium points on gniph.

8. (a) Define budget line and budget set. (10)

(b) What are the assumptions of an indifference curve analysis? Explain the properties

of an indifference curve. (15)

(c) Explain consumer's equilibrium. (10)
L-IIT-2'1ME Date: 04/06/2014
. BANGLADESH UNIVERSITY OF ENGINEERING AND TECHNOLOGY, DHAKA
L-l/T-2 B. Sc. Engineering Examinations 2012-2013

Sub: HUM 103 (Economics)

Full Marks : 210 Time : 3 Hours
The figures in the margin indicate full marks.

........ _-_ _--_ .,,,-_._ .. ,,-_ _-_.--_ .., __

USE SEP ARA TE SCRIPTS FOR EACH SECTION
._- , -_ _-._----_._ .._-_ __ _ _-_ _.
.. __ _----
SECTION-A
There are FOUR questions in this Section. Answer any, THREE questions.

1. (a) What do you mean by price discrimination? Explain first degree, second degree apd

third degree price discrimination with examples. (10)

(b) What are the equilibrium conditions for a firm in a perfectly co~petitive market and a
monopoly market? Show graphically the 'super normal profit', 'abnormal loss', 'normal

profit' for a firm in perfect competition and 'super normal' profit for a monopoly market. (3+7=10)
(c) Suppose an arbitrary cost function of a firm:
TC = 10 Q3 - 180 Q2 + 7500 Q, where TC = Total Cost
With the help .of the above cost equation, derive the marginal cost. and average cost
curves from the total cost curve and then show the relationship between total cost, .

marginal cost and"average cost curves. (15)

2. (a) Consider the production equation of a firm is TP = -30 L3 +2700 L2
Sketch a graph showing the relationship between the total product, average product and

marginal product curves of the firm. (15)

(b) What is 'returns to scale'? -Explain different types of 'returns to scale" with examples. (2+5=7)
(c) Define 'opportunity cost' with an example. What will b~ the impact of the changes in
technology and resources on the Production Possibility Frontier (PPF)? Compare the PPF

of a rich country and that of a poor country. (3+5+5=13)

3. /(a) ~at is inflation? ExplaiiI the causes of 'demand pull' and 'cost push' inflation. (15) "
(b) Graphically show the effects of demand pull and cost inflation on an economy. What

is stagflation? (20)

4. (a) What do you mean by Gross Domestic Product (GDP) and Gross National-Product

(GNP)? What is the difference between GDP and GNP? (10)

(b) What are the different methods to calculate GDP? What items are not calculated in

GDP measurement? (25)

Contd P/2
 =2=

HUM l03(ME)
SECTION -B
There are FOUR questions in this Section. Answer any THREE.

5. (a) Define supply function. (5)

(b) Explain the main determinants of supply. (10)

(c) What are the exceptions to the law of demand? (10)

(d) What are the differences between change III demand and change III quantity

demanded? (10)

6. (a) What are the determinants of price elasticity of demand? (10)

I

(b) How would you measure price elasticity of demand at any point on a straight line

demand curve? (15)

(c) From the following table calculate elasticity of demand if you move from point A to C

and explain what you understand from the result. (10)

Point Y Q
A 7000 800
B 8000 700
C 9000 600

7. (a) What are the advantages and disadvantages of division oflabour? (20)
, (b) From the following demand and supply function calculate equilibrium price and

9uantity and show the result in a graph. (15)

P=0.20Q+IO

P = - OAOQ + 70
(i) What will happen to this equilibrium price and quantity if government imposes a
sales tax of Tk. 2 per unit?
(ii) Describe the change in equilibrium.

8. (a) Explain consumer's equilibrium with the help of budget line and indifference curve. (15)
(b) What are the properties ofan indifference curve? Explain them. (10)
(c) Define budget line and budget set. (10)
L-l/T-2/ME Date: 09/08/2015
BANGLADESH UNIVERSITY OF ENGINEERING AND TECHNOLOGY, DHAKA
L-1/T-2 B. Sc. Engineering Examinations 2013-2014

Sub: HUM 103 (Economics)

Full Marks: 210 Time: 3 Hours
USE SEP ARA TE SCRIPTS FOR EACH SECTION
The figures in the margin indicate full marks.

SECTION-A
There are FOUR questions in this section. Answer any THREE.

1. (a) Define demand function. (5)

(b) What are the factors that influence the shifting of the demand curve? (10)
(c) How would you derive the market demand curve of a commodity? Explain

graphically. (10)
(d) What are the main determinants of supply? (10)

2. (a) Define Income elasticity of demand and price elasticity of demand. (10)
(b) Show that price elasticity of demand varies from zero to infinity along any straight

line demand curve. Explain graphically. (15)

(c) From the following table calculate elasticity of demand if you move from point B to

C and explain what you understand from the result. (10)

POINT Px Qy
A 500 120

B 600 150

C 700 180

3. (a) What is an indifference curve? Explain the properties of an indifference curve. (15)
(b) Explain consumer's equilibrium with the help of budget line and indifference curve. (10)
(c) From the following budget line and the utility function, calculate the amount of two

commodities that maximize satisfaction. What is the maximum amount of satisfaction? (10)
4000 = 25X +35Y

U = 400xO.6yO.7

4. (a) How is price determined in an economy Under competition? What will happen to

the price and quantity due to simultaneous change in demand and supply? (15)

Contd P/2
;

=2=

HUM 103/ME
Contd ... Q. NO.4

(b) From the following demand and supply functions, calculate equilibrium price and

quantity and show the result in a graph. (20)

P = 0.50 Q+ 150

P = -0040 Q+300

(i) What will happen to the equilibrium price and quantity if government imposes
a unit tax ofTk. 2 per unit?
(ii) What will happen if government gives a subsidy ofTk. 3 per unit?
(iii) Describe the change in equilibrium. Show the equilibrium coordinates on the
same graph.

SECTION -B
There are FOUR questions in this section. Answer any THREE.

5. (a) Explain the Gross domestic Product as the Yardstick of an Economy's performance. (10)
(b) Discuss the circular flow of income and expenditure in a two sector economy. (15)
(c) Briefly explain the various difficulties in the measurement of national income of a

country. (10)

6. (a) What do you mean by Monopoly and how it arises? (10)

(b) Write the Monopoly's Price setting strategies. (10)
(c) Briefly discuss a single price monopoly's output and price decision. (15)

7. (a) Write the meaning of economic development as a new economic view. (10)
(b) Briefly write about the Kuznet's six characteristics of modem economic growth. (10)
(c) Discuss the common characteristics of developing countries like Bangladesh. (15)

8. (a) Define the perfect competition and write down its characteristics. (10)
(b) Briefly discuss the firm's output decision in a perfect competition. (15)
(c) Shortly write about the firm's shutdown point in a perfect competition market. (10)
..

L-lIT-2/ME Date: 02/02/2016

BANQLADESH UNIVERSITY OF ENGINEERING AND TECHNOLOGY, DHAKA
L-1/T-2 B. Sc. Engineering Examinations 2014-2015

Sub: HUM 103 (Economics)

Full Marks: 210 Time: 3 Hours
The figures in the margin indicate full marks.
USE SEP ARA TE SCRIPTS FOR EACH SECTION

SECTION-A
There are FOUR questions in this Section. Answer any THREE.

1. (a) Narrate the principal criteria that are considered for classifying market structures in

economics. Why is perfect competitions so rare in the real world? (10)

(b) Describe the loss minimizing and the shut down points of a firm under perfect

competition. (15)
(c) The following are respectively the average revenue (AR) and average cost (AC)

functions of a firm (10)

AR = 1400 :-7.5Q
AC = Q2 - 6Q +140 + 750/Q
Find the maximum profit earning level of output and maximum profit.

2. (a) Clarify the concepts of short run and long runin the theory of production. (10)
(b) Illustrate the conditions for optimum combination of factors of production. (15)
(c) Describe the economies of scale of production relating to increasing returns' to scale of

production. (10)

3. (a) What do you understand by 'economic growth' and 'economic development'? (10)
(b) "Development is both a physical reality and a state of mind". Explain this statement

with the help ofthree core values of development. (15)

(c) State five' common obstacles to economic development in developing countries and

discuss them with reference to the context of Bangladesh. (10)

4. (a) Illustrate the concepts of 'Lorenz Curve' and 'Gini coefficient'. (10)
(b) What is the main purpose of a cost-benefit analysis (CBA)? How does the 'present

value approach' differ form the 'internal rate of return approach'? Explain. (15)
(c) Describe the procedure of a cost-benefit analysis (CBA). (10)

Contd P12
•..

=2=

HUM 103
SECTION -B
There are FOUR questions in this Section. Answer any THREE.

5. (a) What do you understand by localization of industries? What are the 'main causes of

localization of industries? Explain them in brief. (15)

(b) Explain the advantages and disadvantages of localization of industries. (20)

6. (a) What are the determinants of price elasticity of demand? (10)

(b) How would you measure price elasticity of demand at any point on a straight line

demand curve? Explain graphically. (15)

(c) From the following table calculate elasticity of demand if you move from point A to C

and explain what you understand from the result. (10)

POINT Px Qy
A 1500 150
B 1600 180
C 1700 210

7. (a) What is unemployment and unemployment rate? Explain different types of

unemployment that exists in a development country like Bangladesh. (15)

(b) Graphically explain the equilibrium unemployment and disequilibrium

unemployment. (10)
(c) What are the causes of disequilibrium unemployment? Explain graphically. (10)

8. (a) How is price determined in an economy under competition? What will happen to the

price and quantity due to simultaneous change in demand and supply? (15)
(b) From the following demand and supply functions, calculate equilibrium price and

quantity and show the result in a graph. (20)

P = 0.20 Q + 10
P = - 0.40 Q + 70
(i) What will happen to the equilibrium price and quantity if government imposes a
unit tax ofTk. 5 per unit?
(ii) What will happen if government gives a subsidy ofTk. 10 per unit?
(iii) Describe the change in equilibrium. Show the equilibrium coordinates on the
same graph.
 .'
.'
L-l/T-2/ME Date: 06/02/2017
BANGLADESH UNIVERSITY OF ENGINEERING AND TECHNOLOGY, DHAKA
L-l/T-2 B. Sc. Engineering Examinations 2015-2016

Sub: HUM 103 (Economics)

Full Marks: 210 Time: 3 Hours
The figures in the margin indicate full marks.
USE SEPARATE SCRIPTS FOR EACH SECTION
--------------_._-----_ _._._-------------
..

SECTION-A
There are FOUR questions in this Section. Answer any THREE.
Symbols indicate their usual meaning.

1. (a) Define demand function. (5)

(b) What are the factors that influence the shifting of the demand curve? (10)
(c) How would you derive the market demand curve of a commodity? Explain
graphically. (10)
(d) What are the exceptions to the law of demand? (10)

2. (a) Define Income elasticity of demand and price elasticity of demand. (10)
(b) Show that price elasticity of demand varies from zero to infinity along any straight
line demand curve. Explain graphically. (15)
(c) From the following table calculate elasticity of demand if you move from point B to C
and explain what you understand from the result. (10)
Point Px Qy
A 500 120
B 600 150
C 700 180

3. (a) What is an indifference curve? Explain the properties of an indifference curve. (15)
(b) Explain consumer's equilibrium with the help of budget line and indifference curve. (10)
(c) From the following budget line and the utility function, calculate the amount of two
commodities that maximizes satisfaction. What is the maximum amount of satisfaction? (10)
4000 = 25X + 35Y
U = 400 X 0,6y 0,7
4. (a) How is price determined in an economy under competition? What will happen to the
price and quantity due to simultaneous change in demand and supply? .(15)
(b) From the following demand and supply functions, calculate equilibrium price and
quantity and show the results in a graph. (20)
P = 0.50 Q + 150
P = -0.40 Q + 300
(i) What will happen to the equilibrium price and quantity if government imposes a
unit tax of Tk 2 per unit?
(ii) What will happen if government gives a subsidy ofTk. 3 per unit?
(iii) Describe the change in equilibrium. Show the equilibrium coordinates on the
same graph.
Contd P/2
•

=2=

HUM l03(ME}
SECTION-B
There are FOUR questions in this Section. Answer any THREE.

5. (a) What do you understand by division of labor? Explain different types of division of

labor. (10)
(b) Explain the advantages of division of labor. (10)
(c) What do you understand by internal economics of scale of production? Explain

different types of internal economics of scale of production. (15)

6. (a) What are the assumptions of a perfectly competitive market? Explain them. (10)
(b) Explain the short run equilibrium of a firm under perfect competition. (15)
(c) How would you derive the short run supply curve of a firm under perfect

competition? Explain graphically? (10)

7. (a) According to Amartya Sen, 'the process of economic development can be seen as a
process of expanding capabilities of people'. Briefly discuss Amartya Sen's view on

economic development preceded by evolution of development economics. (15)

(b) Explain 'Rostow's linear stage growth model' with examples and limitations. (10)
(c) Critically explain Harrod-Domar growth model. (10)

8. (a) Development process in the surplus-labor nations can largely be explained by Lewis
two-sector model. What does this model of economic development emphasis on?

Critically examine the modeL (15)

(b) Consider a Solow economy with the production function:
Y = A~KClL~, a < I, A
tJ >0
which is characterized by constant returns to scale. Here Y, K, L A and AL stand for
output, capital, labor, technology and effective labor respectively. Moreover consider that
technology and labor grow at constant rate 'g' and 'n' respectively.

(i) Express the production function in per effective labor term. (3)
(ii) Show that there is diminishing marginal returns to the capital per effective labor. (4)
(iii) Find out the Solow equation tt~i~.M.a-Ji1~;
of dynamics of economy and explain that graphically. (8)
(c) Define LDC, developing and developed countries. (5)
"

L-lff-2/ME Date: 10/04/2019

BANGLADESH UNIVERSITY OF ENGINEERING AND TECHNOLOGY, DHAKA
L-I/T-2 B. Sc. Engineering Examinations 2017-2018

Sub: HUM 103 (Economics)

Full Marks: 210 Time: 3 Hours

USE SEPARATE SCRIPTS FOR EACH SECTION
The figures in the margin indicate full marks

SECTION -A
There are FOUR questions in this section. Answer any THREE.
Symbols indicate their usual meaning.

I. (a) What do you understand by localization of industries? What are the main causes of
localization of industries? Explain them in brief. (15)
(b) Explain the advantages and disadvantages oflocalization of industries. (20)

2. (a) What.are the determinants of price elasticity of demand? (10)

(b) How would you measure price elasticity of demand at any point on a straight line
demand curve? Explain graphically. (15)
(c) From the following table calculate elasticity of demand if you move from point A to
: : J ,

C and explain what you understand from the result. (10)

POINT Px Qy
A 1500 150
B 1600 180
C 1700 210

3. (a) What is an indifference curve? Explain the properties of an indifference curve. (15)
(b) Define budget line and budget set. (10)
(c) From the following budget line and the utility function, calculate the amount of two
commodities that maximizes satisfaction. What is the maximum amount of
satisfaction? (10)
5000 = 45X + 55Y
U = 500XO.6yO.7
4. (a) Show that price is determined in an economy under competition by the intersection
of demand and supply. What will happen to the price and quantity due to simultaneous
change in demand and supply? Explain graphically. (15)
(b) From the following demand and supply functions, calculate equilibrium price and
quantity and show the result in a graph. (20)
P=0.20Q+IO
P = -0.40 Q + 70
(i) What will happen to the equilibrium price and quantity if government imposes
a unit tax ofTK 5 per unit?
(ii) What will happen if government gives a subsidy of TK 10 per unit?
(iii) Describe the change in equilibrium. Show the equilibrium coordinates on the
same graph.
Contd P/2
 =2=
HUM 103
SECTION - B
There are FOUR questions in this section. Answer any THREE.

5. _(a) Define total, average and marginal cost. Why does marginal cost increase as output
~~ ~
(b) Fill the gaps on the table below (15)

Quantity Total variable Fixed Averare AVera!e Av~raXe Marginal

Tota fixe vanab e cost
(q) cost cost cost cost cost cost
5 6 1U
6 H5
7 15
8 J 25
':I 120 -

[Hint: marginal cost of q(6) = total cost of q(6) - total cost of q(5)]
(c) Draw average cost (AC) and marginal cost (MC) from abovc table (in question b)
and discuss the relationship between the AC and MC. (15)

6. (a) Discuss the characteristics and explain profit maximization of a perfectly

competitive firm graphically. What type of profit will sustain in this market in long-run
and why? (15)
(b) Why monopoly arises in the market? Show the equilibrium of monopoly market
graphically and explain. (15)
(c) Explain deadweight loss of monopoly market. (5)

7. (a) Explain the concept of nominal GOP and real GOP. Which one gives more precise
understanding of national income and why? (5)
(b) Calculate nominal imd real GDP form the given information and compare the
growth rates for both calculation of GOP. (15)
Output 2014 2015 2016
PIS QIS PI6 QI6 PI? Q17
A 40 300 60 190 50 350
B 100 200 150 200 160 250
C 900 150 1000 160 900 180
0 400 70 300 85 350 120

(c) Explain the reasons of inflation and describe the Phillips curve. (15)

8. (a) Suppose, Y = C + I + G; C = 150 + 0.6Yd; I = 3000; G = 2000; T = 1500.

Given the information provided -answer the following questions: (3x5=15)
(i) Solve Y and C for the economy
(ii) What will be the amount of public and private savings in this economy?
(iii) What will happen to Y and C if the "marginal propensity to consume" is 0.8,
explain.
(b) What is CPI? What are the differences between CPI and GDP deflator? Explain the
calculation process of CPI. (10)
(c) Explain the quantity theory of money. (10)
L-1/T-2/ME Date: 20/01/2021
BANGLADESH UNIVERSITY OF ENGINEERING AND TECHNOLOGY, DHAKA
L-I/T-2 B.Sc. Engineering Examination, January 2020

Sub: HUM 103 (Economics)

Full Marks: 180 Time 2 Hours
The Figures in the margin indicate full marks
USE SEPARATE SCRIPTS FOR EACH SECTION
There are 03 page(s) in this question paper.

SECTION – A
There are FOUR questions in this section. Answer any THREE
All the symbols have their usual meanings
Assume reasonable values for missing data.

1. (a) What are the factors that influence the shifting of the demand curve? (15)
(b) How would you derive the market demand curve of a commodity? Explain (15)
graphically.
2. (a) Show that price elasticity of demand varies from zero to infinity along any (15)
straight line demand curve. Explain graphically.
(b) Define income elasticity of demand. From the following table calculate (15)
elasticity of demand if you move from point B to C and explain what you
understand from the result.

POINT Px Qy
A 500 120
B 600 150
C 700 180

3. (a) Explain consumer’s equilibrium with the help of budget line and (15)
indifference curve.

(b) From the following budget line and the utility function, calculate the amount (15)
of two commodities that maximizes satisfaction. What is the maximum amount
of satisfaction?
4000 = 25X + 35Y
U = 400 X0.6Y0.7
 =2 =

4 (a) How is price determined in an economy Under competition? What will (15)
happen to the price and quantity due to simultaneous change in demand and
supply?

(b) From the following demand and supply functions, calculate equilibrium
(15)
price and quantity and show the result in a graph.
𝑃 = 0.50 𝑄 + 150
𝑃 = −0.40𝑄 + 300
i) What will happen to the equilibrium price and quantity if
government imposes a unit tax of TK 2 per unit?
ii) What will happen if government gives a subsidy of TK 3 per
unit?

Describe the change in equilibrium. Show the equilibrium coordinates on the

same graph.

SECTION – B
There are FOUR questions in this section. Answer any THREE
All the symbols have their usual meanings

5. (a ) What do you mean by the concept of cost of production? (5)

(b) Complete the following table and explain the relation among the various (15)
short run average cost curves. Plot all the short run average cost curves in a
graph.
Qua FC VC TC AFC AVC AC MC
ntity
1 80 30
2 80 40
3 80 45
4 80 55
5 80 75
6 80 120

(c) What is meant by the concept of market in Economics? Describe the various
classifications of market. (10)
 =3 =

6. (a) Narrate the conditions of profit maximization. (5)

(b) What is meant by shut-down point of production? Graphically explain the (15)
shut-down point of production of a firm under perfect competition.

(c) Given the following total revenue (TR) and total cost (TC) function for a (10)
firm
TR = 5900Q – 10Q2
TC = 2Q3 – 4Q2 + 140Q + 845
Where Q is the quantity of output.
(i) Set up the profit function,
(ii) Find the quantity which will make the profit maximization,
(iii) Calculate the maximum profit and verify that it is maximized.

7. (a) Describe the circular flow of income and expenditure in a two sector (10)
economy.
(b) Calculate national income from the following information: (10)

GNP = TK. 1,25,000 Crore

Depreciation = TK. 11,000 Crore
Indirect Tax = TK. 13,000 Crore
Subsidy is 20% of indirect tax.

(c) Briefly discuss the various policies for controlling inflation.

(10)

8. (a) Define sustainable development goals (SDGS). Briefly point out the various (20)
goals of SDGS.
(b) Make a brief comparison between millennium development goals (MDGS) (10)
and SDGS.