B.Com In Banking & Insurance (BCBI) Sem I 2022 2023 Dec 2023 BUSINESS ECONOMICS Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Price effect is the combined effect of income and substitution effects
2. Q2 Demand forecast are essential to plan future production
3. Q3 Price always has a tendency to move away from equilibrium
4. Q4 Economic cost is equal to explicit cost minus implicit cost
5. Q5 At break-even point TR=TC
6. Q6 In perfect competition seller decides the price
7. Q7 There is no entry for a new firm to a monopoly market
8. Q8 Selling cost is acommon feature of Monopolistic competition
9. Q9 A cartel is formed by oligopolist to avoid price-war
10. Q10 Full cost pricing method has certain limitations
    • B. Match the columns (any seven) 7
    • ii) In Oligopoly the products are mostly b) Avoiding price war
    • iii) Selling cost may increase c) Long-run Equilibrium
    • iv) Firms enter and exit from the market d) may not be always quantified
    • v) Price leadership aims at e) AC remains constant
11. Q2 A. Define demand and discuss the determinants of demand. 8 marks
    • B. Discuss the difference between Incrementalism and Marginalism 7
    • C. Explain the movement along the demand curve, 7
    • D. Explain the market equilibrium with the help of suitable diagram. 8
12. Q3 A. Explain the behavior of cost and output in the short run. 8 marks
    • B. Explain various cost concepts 7
    • C. Define isoquant and discuss the properties of isoquant. 7
    • D. Explain the limitations of Break-even analysis. 8
13. Q4 A. Explain the Kinked demand curve under oligopoly market. B: Explain the meaning of price discrimination and discuss the various degrees of price Subject: Business Economics Class: FYBBI SEM | Time: 2 hours 30 mins Marks: 75 8 marks
    • C. Explain the long-run equilibrium of a firm under monopolistic marks)
    • D. Discuss features of Oligopoly market. QS. A. Discuss the conditions for price discrimination. (7marks) 7
    • B. Explain the laws of returns to scale, 8
    • C. Write short notes on (any three) 15
14. Q2 Features of Monopoly market
15. Q5 Distinguish between Economic Concept and Business Economics
16. Q4 Learning Curve

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