Bachelor Of Mass Media (BMM) BMM English Sem I 2015-16 ECONOMIC (ENG) Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 State the law of demand with example. Mention its assumptions. What are the major exceptions to the law of demand. (15)
   • A. Explain the movement along the supply curve and shifts of supply curve. 7
   • B. Distinguish between monopolistic competition and oligopoly. 8
2. Q3 What is “Income elasticity of demand”? Explain it with diagram. Discuss cross elasticity of demand and promotional elasticity of demand. Explain how it differ from price elasticity of demand. (15)
   • A. Distinguish between: 7
   • i) Joint demand and Composite demand
   • ii) Direct demand and Derived Demand
   • B. Discuss the basic concepts of wealth, welfare and scarcity. Explain features of
3. Q4 What do you understand by “Elasticity of Supply” Mention and explain its types with the help of diagram and example mention various factors influencing supply.(15)
   • A. Differentiate between micro and macro economics. 7
   • B. Explain characteristic features of depression and prosperity phase of trade cycle
4. Q5 Write Short notes: (Any-3) 15 marks
5. Q1 Balanced and Unbalanced budget
6. Q3 Unemployment

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