Q. Discuss the relationship
between Business Economics and Traditional Economics. Or Explain how economic theories applied in business economics.
Q. What is Price Mechanism?
Explain its importance and Limitations.
Q. Write short notes on:
Ø Steps in business decision making process
Ø Price mechanism
Ø Basic problems of an economic system
Unit 2
Q. What is price elasticity of
demand? What are its determinants? Explain the importance of price elasticity
of demand.
Q. What is law of Demand? Mention
the assumptions which are necessary for law of demand analysis. What are the
exceptions to the law of demand?
Q. What are various types of
elasticity of demand? Mention various degrees of elasticity with diagram.
Q. Write short notes on:
Ø Methods of measurement of Elasticity of demand
Ø Supply theory
Ø Cross elasticity and Income Elasticity
Unit 3
Q. What is an lsoquant? Explain
its properties. Identify the economic region of production with the help of
lsoquant curve.
Q. Explain with diagram the law
of variable proportion. In which stage output is decided?
Q. Discuss the laws of returns to
scale.
Q. What do you mean by internal
and external economics? Explain the different factors responsible for internal
economics.
Q. Write short notes on:
Ø Expansion Path
Ø Why is marginal rate of technical substitution between factors
(MRTSLK) always diminishing?
Unit 4
Q. What are the objectives of a
business firm? Discuss Cyert-March hypothesis of Satisfying Behaviour as an
objective of modern business firms.
Q. What is perfectly competitive
market? What are its characteristics? Explain the process of price-output
determination, under perfect competition.
Q. Analyse the equilibrium of a
business firm under perfect competition with the help of suitable diagram.
Q. Write short notes on:
Ø Profit maximisation
Hypothesis
Ø Baumal’s sales maximization hypothesis
Unit 5 (Old Course Only)
Q. What is monopoly market? What
are its features? How does a monopolist determine the price of his commodity
under condition of price discrimination? Illustrate your answer with suitable
diagram.
Q. Explain with diagram how price
and output are determined under monopoly.
Q. Mention the main features of
oligopoly. Explain how a cartel determines price and output under collusive
oligopoly.
Q. What is oligopoly? What are
its features? Explain the models applied for determining price under oligopoly
market.
Q. Write short notes on:
Ø Monopoly vs. oligopoly vs. perfect competition
Ø Kinked demand curve
Ø Conditions for price discrimination