Economics
F.Y.B.M.S. Question Bank Sem I (MU)
Q1. Explain the Scope of business economic.
Q2 Explain the basic economic relations with reference to Total, Average and Marginal.
Q3: The equilibrium price will change wherever there is change in demand or supply or both. Explain.
Q4: What are the determinants of Demand?
Q5: Explain the Demand Function.
Q6: Explain the nature of Demand Curve in different markets.
Q7: Explain the different types of price elasticity of demand.
Q8: Explain the methods of measuring elasticity of demand.
Q9: Define Income elasticity of demand. What are the different types of income elasticity of demand?
Q10: Explain the significance of elasticity of demand.
Q11: What do you mean by Demand Forecasting? Explain its importance.
Q12: Explain the various methods of demand forecasting.
Q13: Explain the properties of Iso – quants.
Q14: Explain the concept of least cost combination or producer’s equilibrium.
Q15: Explain the Law of Variable proportions.
Q16: Explain the Law of Returns to Scale.
Q17: Explain the types of internal and external economies.
Q18: Explain the various concepts of costs.
Q19: Explain the behavior of short run average cost curves with schedule and diagram.
Q20: Explain the cost analysis during long run period.
Q21: Explain the concept of Break even analysis with the help of suitable chart and diagram.
Q22: Explain the short run equilibrium of firm under prefect competition with identical cost condition.
Q23: Explain the short run equilibrium of firm under prefect competition with differential cost condition.
Q24: Explain the long run equilibrium of firm under perfect competition.
Q25: Explain the long run equilibrium of industry under perfect competition.
Q26: Write a detailed note on Profit Maximization under perfect competition.
Q27: How is equilibrium price and output is determined under monopoly in short run?
Q28: Explain the equilibrium of monopoly in long run.
Q29: How does an individual firm attain equilibrium under monopolistic competition in the short run?
Q30: How does an individual firm attain equilibrium under monopolistic competition in the long run?
Q31: What are selling costs? Why are they peculiar to monopolistic competition alone?
Q32: Define Oligopoly. What are the important features of oligopoly?
Q33: Explain the price rigidity situation in an oligopoly market with the help of kinked demand curve.
Q34: Explain the equilibrium of an oligopoly firm facing kinked demand curve.
Q35: Define price discrimination. Explain the different ways of price discrimination.
Q36: What are the conditions of price discrimination?
Q37: Explain the different degrees of price discrimination.
Q38: Explain how price and output equilibrium is reached under discriminating monopoly.
Q39: Explain Cost Plus Pricing or Full Cost pricing method.
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