BCom In Accounting & Finance (BCAF) SEM I 2022 2023 Dec 2023 BUSINESS ECONOMICS Question Paper - Mumbai University | munotes
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Questions asked in this paper
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Q2 All questions carry equal marks
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Q1 (A) State whether the following statements are True or False. (Any 8) 8 marks
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Q1 Economics is the science of choices
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Q2 The supply curve slopes upward
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Q3 The sample survey method undertakes a survey of all consumers
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Q4 Isoquant can intersect each other
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Q5 Average cost curve increases due to increasing returns to scale
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Q6 At the break-even point, TR is equal to TC
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Q7 In dumping a monopolist is a price taker in the world market
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Q8 Price is very flexible in an oligopoly market
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Q9 Full-cost pricing has no limitations
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Q10 Pricing of a product should cover the cost alone Match the columns (Any 7 07 marks
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Q2 Perfectly inelastic demand b. a large number of buyers and sellers
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Q7 Perfect competition g. cannot touch either axis
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Q8 Oligopoly h. ignorance
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Q2 Discuss the following in brief. 15 marks
- A. Discuss the scope of business economics
- B. Explain the nature of the demand curve in different markets
- C. Explain the law of demand and its assumptions
- D. Discuss the market equilibrium with the help of a suitable diagram
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Q3 Answer the following in brief. 15 marks
- A. Explain the changes in supply with the help of a suitable diagram
- B. Discuss the steps in demand forecasting
- C. Discuss the degree of price elasticity of demand with the help of suitable diagrams
- D. Explain the law of variable proportion
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Q4 Explain the following in brief. 15 marks
- A. Explain the meaning and characteristics of oligopoly
- B. Explain the degrees of price discrimination
- C. Explain the role of advertisement in monopolistic competition
- D. Discuss marginal cost pricing with the help of a suitable diagram
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Q5 Write short notes. (Any 3) 15 marks
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Q1 Survey method
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Q3 External economies of scale
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Q4 Features of monopolistic competition
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Q5 Conditions of price discrimination
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