Bachelor Of Management Studies (BMS) SEM I 2023 2024 Dec 2024 BUSINESSN ECONOMICS I Question Paper - Mumbai University | munotes

Questions asked in this paper

• (2) Figures to the right indicate Equal Marks

1. Q1 A. Fill in the Blanks (Attempt Any 8) L, deals with the functioning of an economy as a whole analysis helps to identify the various factors influencing the demand for a product 8 marks
   • 3. The Oligopoly market is characterized by are geometrical tools to study functions. (Graphs, Variables, Functions, Equations)
   • 5. Under monopolistic competition the products are
   • 6. goods are a special type of inferior goods. (Giffen, Normal, Inferior, Substitute)
   • 7. Under - firm and industry refer to one and the same thing
   • 8.Opportunity cost is also called as cost. (Alternative, Total, Average, Fixed) 9, price is that price of commodity at which the demand for the commodity is equal to it's supply. (Equilibrium, Variable, Inverse, Marginal)
   • 10. is a magnitude of interest that can be defined & measured
2. Q1 B. State Whether the Statement or False (Attempt Any 7) 7 marks
   • 1. Microeconomics deals with the analysis of national income
   • 2. The Demand curve has a negative slope
   • 3. Demand and price are inversely related
   • 4. Price effect is the combined effect of income & substitution effects
   • 5. Cross elasticity of demand for substitutes is Negative
   • 6. Demand forecasts are essential to plan future production
   • 7. In Perfect Competition a firm is a price maker,
   • 8. Implicit costs are an Opportunity costs of the factors owned & used by the entrepreneur
   • 9. There is free entry for a new firm to a monopoly market
   • 10. The demand curve hag a positive slope BUS.ECONOMICS SEM-I EXAM 2023-24 75-MARKS 2 %2 HRS
3. Q2 A. Define Business Economics and Explain scope of business economics. 8 marks
   • B. What is Demand & explain various determinants of demand. (7
   • C. Explain the Law of Demand with assumptions. 8
   • D. Explain Price, Income and Substitution effects in detail. 7
4. Q3 A. Explain Demand Forecasting & Steps to be taken in demand forecasting. 8 marks
   • B. Explain different factors affecting price Elasticity of demand. 7
   • C. Explain Business applications of Break-even Analysis in detail. 8
   • D. Explain External economies & Diseconomies of scale. 7
5. Q4 A. What is Monopoly and Explain its features. 8 marks
   • B. What is Market and Explain different types of market structure. 7
   • C. What is Monopolistic Competition and Explain its features. 8
   • D. Explain Learning curve in detail. 7
6. Q5 A. What is Price discrimination & what are the different degrees of price Explain Types & Limitations of price leadership under Oligopoly market structure
   • C. Write Short Notes (Attempt Any 3) 15
   • 1. Implicit and Explicit cost
   • 2. Relationship between AC & MC
   • 4. Oligopoly Market

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