B.Com In Financial Management SEM I 2022 2023 Dec 2023 ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) Multiple choice question (7 out of 10) 7 marks
   • 1) is the economics of business or managerial decision
   • 2) Market is derived by adding all the individual demand
   • a) Demand b) Supply
   • c) Price d)none of these
   • 3) Demand is a desired fact by
   • a) Ability to pay b) willingness to pay
   • 4) Unitary elastic demand is represented by
   • 5) Demand forecasting is very essential for
   • 6) Production refers to
   • a) production function b)creation of utilities
   • 7) Fixed cost is regarded as
   • a)Unavoidable b)variable
   • c)avoidable d)none of these
   • 8) Break even analysis compares total revenue with
   • 9) When price is lower than average total cost there will be
   • 10)Under firm and industry refers to one and the same thing
   • c)monopoly d)Dilogopoly
2. Q1 B) State whether the following statement are true or false. (8 out of 10) 8 marks
   • 1) Statistical method is called qualitative method
   • 2) Demand for casting is important for the Firm
   • 3) In ease of inferior goods income elasticity of demand is positive
   • 4) Demand for electricity is elastic
   • 5) The monopoly firm faces a downward sloping demand curve
   • 6) Fixed cost refers to labor cost
   • 7) In short run. All costs are variable
   • 8) When marginal product is 0 the total product is minimum
   • 9) Division of labour leads to labour economy
   • 10) Expert opinion method is more accurate and reliable
3. Q2 Answer the following questions
   • a) Explain law of Demand and state its curve under different market. 7
   • b) Explain Demand for casting and state its importance. 8
   • c) Explain the change in demand and supply curve in relation te price. 7
   • d) Explain promotional Elasticity of Demand. 8
4. Q3 Answer the following questions
   • a) What do you mean by production function? State its features. 7
   • b) Explain Marginal cost and incremental cost. 8
   • c) Given Total Fixed Cost rupees 20. Calculate TVC, MC, AC Using the following information. 7
   • d) Complete the following table 8
5. Q4 Answer the following questions
   • a) What do you mean by perfect competition and state its features? 7
   • b) What do you mean by Oligopoly and state its features. 8
   • c) Explain Selling cost. 7
   • d) Explain Price leadership. 8
6. Q5 Answer the following questions
   • a) Explain the exception and assumption of demand 7
   • b) Explain features and scope of Business Economic 8
   • c) Short note (any 3) 15
   • 1) Determinants of market demand
   • 2) Law of supply
   • 3) Fixed cost and variable cost
   • 5) Price discrimination

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