Dhaka International University
Faculty of Science & Engineering
Department of Civil Engineering
Trimester Final Examination (Summer, 2023)
Batch: 41st (2nd shift), Trimester: 7th
Course No: Hum-113, Course Title: Economics
Time: 2.5 hours
Marks: 50
Instruction:
Figures in the right margin indicate full marks.
Section A: Answer any two from Questions 1-3
1.
2.
3.
a.
Define total utility and marginal utility.
5
b.
Demonstrate differences between cardinal and ordinal utility.
5
Elaborate the following concept:
IEconomic Growth
IIInflation
b. Graphically explain the concept of consumer’s surplus.
5
a. Define supply and briefly mention the determinants of supply.
5
b. From the following Supply equation illustrate a supply curve.
5
a.
5
Qs = 120 + 2P
Section B: Answer any two from Questions 4-6
4.
a. Assume M = 200, Px =20 and Py = 10,
5
(Where M is the income of the consumer, Px the price of commodity X and Py is
the price of commodity Y.)
Construct budget line from using the above information.
5.
6.
b. Using Indifference curve and Budget line demonstrate consumer’s equilibrium.
5
a. Interpret production.
5
b. Discuss the factor of production.
5
Assume Demand and Supply function
Qd = 20 – 5P
10
Qs = 5P
I – Compute equilibrium price and quantity
II – Show your result in diagram
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Section C: Answer any one from Questions 7-8
7.
Briefly elaborate Perfect competition market with its properties.
8.
Consider a consumer is successively consuming a particular good or service, 10
what will happen if the consumer will continue to do so discuss in light of law of
diminishing marginal utility.
10
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