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Model Test Paper 2013 B.Com.

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EAFM-I Business Economics
Very Short Question Q1.What is the difference between positive science and the normative science? Q2 .What is Demand Schedule? Q3.Give the formula of measuring the consumer surplus? Q4Define the per capita income? Q5.What do you mean by Quasi rent? Any two differences between traditional economics and business economics? Q6 .Give any two stages of the Demand forecasting? Q7. Write any two properties of the ISO product curve. Q8.What is Liquidity Preferences? Q9. Point out any two reasons for the operation of law of Supply? Q10. Write the formula of NNP? Q11.what is economic welfare? Q 12.Give the definition of Business Economics? Q13 what is Giffin cost? Q14What is Revenue? Q15 what is Monopoly? Q16What is wages Fund? Q17 Differentiated between the Gross profit and the Economic Profit? Q18Explain GNP? Q19Which book was written by J.R. Hicks?

Q20 What is elasticity of Substitution? Q23 Define opportunity cost? Q24 Define national Income? Q25.what are Iso Quants? Q26. Define indifference curve. Q27.What is social accounting? Q28. Differentiate between direct demand and the derived demand. Q29 Differentiate between monopoly and the monopolistic market? Q30what is laws of return?

Short Questions Q1 Write the differences between Cardinal and ordinal approach of utility. Q2 What are the degree of elasticity of Demand? Q3What is shut down point Q4 whatare themethods of demand forecasting? Q5 what are the factors affecting the Monopoly power? Q6 What are the exceptions of the Law of demand? Q7 Explain the relation between Average cost and marginal cost? Q8 Distinguish between money wages and real wages? Q9 Distinguish between perfectly elastic and inelastic demand? Q10 Discuss the determinants of supply. Q11 Explain the determinants of supply. Q12 Explain relationship between rent and prices. Q13 Explain the main components of National Income? Q14What is scale of production?

Q15 what is Marginalism? Q16 what is least cost factor combinations? Q17 Explain the ARC elasticity? Q18 Explain the value added method of determination of national income? Descriptive Question Q1. Define Indifference curve and Indifference curve map. Give the assumption of Indifference curve? Q2. What is the degrees price of elasticity of demand? What are the factors affecting elasticity of supply? Q3.what is the law of diminishing returns? Whatare the assumptions of the Law of Diminishing returns? Q4. How is the price under monopoly determined? Whatare the considerationsbefore monopolist while fixing a price? Discuss? Q5. Briefly discuss Recardians theory of rent. How isit different from theory of rent? Explain? Q6. Define National Income. Discuss various methods of measuring national income with suitable examples? Q7.Explain the law of diminishing marginal utility. What is its importance? Q8. Explain the producers equilibrium with the help of ISO Product curve? Q9.How is price determined in the short and long periods under perfect competition? Q10.What is oligopoly? How price and output is determined under it? Q11.Expalinin detail marginal theory of distribution? Q12. Discuss the role of business economics in the formulation of business policies? Q13. How the prices and the output are determined in the monopolistic competition?

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