64_COMMERCE_ BUSINESS ECONOMICS_652_(11-12-2019 07_45_38_304 AM) mahesh1.pdf
B.Com. Part—I (Semester—II) Examination
Time : Three Hours] [Maximum Marks : 80
Note :— (1) All questions are compulsory.
(2) Draw diagrams wherever necessary.
(Multiple Choice Questions)
Select suitable options :— 1×20=20
1. Managerial Economics is the new branch of __________.
(a) Agricultural Economics (b) Labour Economics
(c) Business Economics (d) None of these
2. _________ is the main objective of Managerial Economics.
(a) Advertisement (b) Price decision
(c) Profit Management (d) All of the above
3. Business Economics was originated during ________.
(a) Second World War (b) First World War
(c) (a) and (b) (d) None of the above
4. ________ is the feature of Business Economics.
(a) Nature of Micro Economics (b) Use of Macro Economics
(c) Perspective nature (d) All of the above
5. Monopolist controls over ________.
(a) Supply of commodities (b) Demand of commodities
(c) Demand and supply of commodity (d) None of these
6. Local market means ___________.
(a) Market spread in specific region (b) Market meant for one particular place
(c) Nationwide market (d) None of these
7. Monopolist earns maximum profit at a point where _________.
(a) Marginal cost is equal to Marginal Revenue
(b) Marginal cost is equal to Average Revenue
(c) Marginal cost is equal to Average Cost
(d) Marginal cost is equal to Total Revenue
8. Monopoly market means __________.
(a) Limited number of buyers and sellers
(b) Only single seller or producer in market
(c) Long-term market
(d) Mixed market
DD—2428 1 (Contd.)
9. __________ is the main feature of imperfect competition.
(a) Many Sellers and Buyers
(b) Product differentiation
(c) Differential choice of many customers
(d) Many sellers and product differentiation
10. Price Leadership is feature of ________.
(a) Oligopoly (b) Monopoly
(c) Perfect competition (d) Monopolistic competition
11. _________ is an imaginary situation of market.
(a) Monopoly (b) Perfect competition
(c) Oligopoly (d) Imperfect competition
12. In perfect competition the basis of price determination is _________.
(a) Demand (b) Supply
(c) Demand & Supply (d) None of these
13. Demand curve of factors of production is _________.
(a) Negative (b) Positive
(c) Parallel (d) None of these
14. According to Ricardo Land without rent is called as __________.
(a) Marginal Land (b) Productive Land
(c) Semi Marginal Land (d) Unproductive Land
15. Quasi Rent Theory was proposed by ________.
(a) Adam Smith (b) Ricardo
(c) Marshal (d) None of these
16. Basis of difference between Monetary wages and Real wages is ________.
(a) Purchasing power of money (b) Additional facilities and concessions
(c) Tendency of work (d) All of the above
17. Loanable funds theory of Interest was first proposed by _________.
(a) Keynes (b) J.B. Say
(c) Fisher (d) Wicksell
18. Supply curve of total loanable funds is __________.
(a) Parallel (b) Vertical
(c) Upward sloping from left to right (d) Downward sloping from left to right
19. Risk and uncertainty theory of profit is proposed by __________.
(a) J.B. Clark (b) Hawley
(c) J.M. Keynes (d) Marshal
20. According to Schumpeter the profit emerges due to __________ .
(a) Imitation (b) Management
(c) Innovation (d) Organisation
DD—2428 2 (Contd.)
Write answers in short :—
1. (a) Explain the features of Business Economics. 4
(b) Explain the nature of Managerial Economics.
2. (a) Explain the functions of price mechanism. 4
(b) Explain the types of market.
3. (a) Explain the features of oligopoly. 4
(b) What is price leadership ?
4. (a) Explain the assumptions of marginal productivity theory. 4
(b) Explain the factors responsible for exploitation of workers.
5. (a) Explain the demand of Loanable Funds. 4
(b) Explain profit and give its definition.
Write answers in detail :—
1. (a) Explain how Managerial Economics assists Managers. 8
(b) Explain the concept and features of Managerial Economics.
2. (a) Explain monopoly and elaborate how price determination takes place under it. 8
(b) What is price discrimination ? Explain its types.
3. (a) What is perfect competition ? Explain its features. 8
(b) What is imperfect competition ? Explain its features.
4. (a) Explain the Ricardian Theory of Rent. 8
(b) Explain the Law of Marginal Productivity and narrate its limitations.
5. (a) Critically evaluate the loanable funds theory of interest. 8
(b) Explain the innovation theory of profit propounded by Schumpeter.
DD—2428 3 (Contd.)