The document outlines a course on microeconomics taught by Chitwan Kaur at Punjab College of Technical Education in Ludhiana, India. The 40 lecture course aims to help students understand basic microeconomic concepts, theories, and models to analyze government policies. Students will be evaluated through tests, assignments, presentations, and case studies with the goal of understanding modern microeconomic concepts and applying them to analyze real-world situations.
The document provides information about a Micro Economics course offered at Punjab College of Technical Education in Ludhiana, India. The course is taught by Shweta Miglani and aims to help students understand basic microeconomic concepts. It will cover topics like demand, consumer behavior, production, costs and different market structures over 40 lectures. Students will be assessed through internal assignments, presentations, tests and external exams. The breakdown of marks and topics to be covered each lecture are also outlined.
A Deterministic Inventory Model for Perishable Items with Price Sensitive Qua...IJMERJOURNAL
ABSTRACT: An inventory system is considered with trended demand which is assumed to be a function of price and time dependent quadratic demand. For minimizing the total cost of the inventory system, it is assumed that the deterioration rate is constant and the supplier offers the retailer a credit period to settle the account of the procurement units. To solve the model it is further assumed that shortages are not allowed. Salvage value is also considered and observed its effect on the total cost. A numerical example is given to test the strength of the model. Critical parameters are identified by studying the sensitivity of the system.
The document outlines a course on microeconomics taught by Chitwan Kaur at Punjab College of Technical Education in Ludhiana, India. The 40 lecture course aims to help students understand basic microeconomic concepts, theories, and models to analyze government policies. Students will be evaluated through tests, assignments, presentations, and case studies with the goal of understanding modern microeconomic concepts and applying them to analyze real-world situations.
The document discusses demand, elasticity, and exceptions to the law of demand. It begins by defining demand and explaining factors that influence it like price, income, and availability of substitutes. It then discusses the law of demand, how demand curves illustrate the inverse relationship between price and quantity demanded, and how shifts in demand curves can occur due to non-price factors. The rest of the document defines different types of elasticity including price, income, and cross elasticity. It provides examples and formulas for calculating elasticities and discusses factors that influence a good's elasticity.
This document provides a case study analysis of Idea Cellular. It summarizes Idea Cellular's mission, strengths, weaknesses, opportunities, threats, and growth strategies. Idea Cellular has over 36 million customers and operates in 25 countries with over 100,000 employees. The analysis identifies Idea Cellular's attractive existing footprint in India and innovative strategies as strengths, and high debt and revenue reliance on mobile services as weaknesses. It also outlines opportunities for growth through increasing subscribers and disposable income. Threats include intense competition and changing regulations. The document then analyzes Idea Cellular's strategic positioning and growth through organic and inorganic strategies.
This document provides information about the E-Trip system implemented by the Excise and Taxation Department of Punjab, India. The E-Trip system requires submission of information online regarding the inter-state and intra-state movement of certain goods above specified monetary limits. Dealers must submit transaction details on the department's website before physically moving goods. The document outlines the specified goods and amounts that require E-Trip submission, as well as clarifications provided on the system such as exempting plywood and allowing transporters to submit on behalf of dealers.
National Income of India is estimated and published annually by the Central Statistical Organization of India. It refers to the total market value of all final goods and services produced within a country in a year. National income estimates in India have evolved over time from non-scientific personal estimates pre-independence to regular annual estimates by CSO post-independence using scientific methods like product method and income method. There are significant inter-state variations in per capita income across Indian states, with developed states like Goa, Haryana and Maharashtra having much higher per capita incomes than less developed states like Bihar, Jharkhand and Assam.
The law of equi-marginal utility states that a consumer is in equilibrium when the marginal utility derived from the last rupee spent on each good is the same. It assumes consumers rationally allocate a limited income across goods to maximize total utility. The law also applies to production and distribution, suggesting factors and resources should be allocated up to the point where their marginal returns or benefits are equal.
The document provides information about a Micro Economics course offered at Punjab College of Technical Education in Ludhiana, India. The course is taught by Shweta Miglani and aims to help students understand basic microeconomic concepts. It will cover topics like demand, consumer behavior, production, costs and different market structures over 40 lectures. Students will be assessed through internal assignments, presentations, tests and external exams. The breakdown of marks and topics to be covered each lecture are also outlined.
A Deterministic Inventory Model for Perishable Items with Price Sensitive Qua...IJMERJOURNAL
ABSTRACT: An inventory system is considered with trended demand which is assumed to be a function of price and time dependent quadratic demand. For minimizing the total cost of the inventory system, it is assumed that the deterioration rate is constant and the supplier offers the retailer a credit period to settle the account of the procurement units. To solve the model it is further assumed that shortages are not allowed. Salvage value is also considered and observed its effect on the total cost. A numerical example is given to test the strength of the model. Critical parameters are identified by studying the sensitivity of the system.
The document outlines a course on microeconomics taught by Chitwan Kaur at Punjab College of Technical Education in Ludhiana, India. The 40 lecture course aims to help students understand basic microeconomic concepts, theories, and models to analyze government policies. Students will be evaluated through tests, assignments, presentations, and case studies with the goal of understanding modern microeconomic concepts and applying them to analyze real-world situations.
The document discusses demand, elasticity, and exceptions to the law of demand. It begins by defining demand and explaining factors that influence it like price, income, and availability of substitutes. It then discusses the law of demand, how demand curves illustrate the inverse relationship between price and quantity demanded, and how shifts in demand curves can occur due to non-price factors. The rest of the document defines different types of elasticity including price, income, and cross elasticity. It provides examples and formulas for calculating elasticities and discusses factors that influence a good's elasticity.
This document provides a case study analysis of Idea Cellular. It summarizes Idea Cellular's mission, strengths, weaknesses, opportunities, threats, and growth strategies. Idea Cellular has over 36 million customers and operates in 25 countries with over 100,000 employees. The analysis identifies Idea Cellular's attractive existing footprint in India and innovative strategies as strengths, and high debt and revenue reliance on mobile services as weaknesses. It also outlines opportunities for growth through increasing subscribers and disposable income. Threats include intense competition and changing regulations. The document then analyzes Idea Cellular's strategic positioning and growth through organic and inorganic strategies.
This document provides information about the E-Trip system implemented by the Excise and Taxation Department of Punjab, India. The E-Trip system requires submission of information online regarding the inter-state and intra-state movement of certain goods above specified monetary limits. Dealers must submit transaction details on the department's website before physically moving goods. The document outlines the specified goods and amounts that require E-Trip submission, as well as clarifications provided on the system such as exempting plywood and allowing transporters to submit on behalf of dealers.
National Income of India is estimated and published annually by the Central Statistical Organization of India. It refers to the total market value of all final goods and services produced within a country in a year. National income estimates in India have evolved over time from non-scientific personal estimates pre-independence to regular annual estimates by CSO post-independence using scientific methods like product method and income method. There are significant inter-state variations in per capita income across Indian states, with developed states like Goa, Haryana and Maharashtra having much higher per capita incomes than less developed states like Bihar, Jharkhand and Assam.
The law of equi-marginal utility states that a consumer is in equilibrium when the marginal utility derived from the last rupee spent on each good is the same. It assumes consumers rationally allocate a limited income across goods to maximize total utility. The law also applies to production and distribution, suggesting factors and resources should be allocated up to the point where their marginal returns or benefits are equal.
The document provides information about a Micro Economics course offered at Punjab College of Technical Education in Ludhiana, India. The course is taught by Shweta Miglani and aims to help students understand basic microeconomic concepts. It will cover topics like demand, consumer behavior, production, costs and different market structures over 40 lectures. Students will be assessed through internal assignments, presentations, tests and external exams. The breakdown of marks and topics to be covered each lecture are also outlined.
Optimal Pricing Policy for a Manufacturing Inventory Model with Two Productio...IJERDJOURNAL
ABSTRACT: When a new product is launched, a manufacturer applies the strategy of offering a quantity incentive initially for some time to boost up the demand of the product. The present paper describes a manufacturing inventory model with price sensitive demand enhanced by a quantity incentive. Later on demand becomes time increasing also. Inventory cycle starts with low production rate which is followed by higher production rate when demand is boosted up. Shortages are not allowed in this model. Presentation of numerical examples, tables, graphs and sensitivity analysis describes the model very well. Lastly case without incentive illustrates that usually the quantity incentive offered initially is beneficial.
The document provides an overview of basic economic concepts. It discusses:
- Economics is the study of how individuals and societies deal with scarcity. Scarcity means that resources are limited and our wants are unlimited, so we must make choices about how to use resources.
- Microeconomics studies small economic units like individuals and firms, while macroeconomics looks at the overall economy. Positive economics makes factual statements, while normative economics includes value judgments.
- The production possibilities curve (PPC) model shows the tradeoffs between producing different goods given limited resources. Points on the PPC are productively efficient, while the optimal point depends on societal wants.
- Comparative advantage explains why countries
This document outlines a course on Principles of Micro Economics taught at ANSAL Institute of Technology in Gurgaon, India in 2012. The 3 credit course is facilitated by Dr. Meenal Sharma Jagtap and aims to familiarize students with basic microeconomic concepts and theories to help them apply economic tools to managerial decision making. The course uses various teaching methods like lectures, assignments, group projects and tests. Students are evaluated throughout the term based on assignments, presentations, quizzes, midterm tests and a final exam. The course covers topics like demand and supply, costs and revenues, market forms, income distribution and international economics across 45 sessions.
This document outlines the syllabus and exam structure for Economics Class XII in India. It discusses:
- Paper I will be a theory exam worth 80 marks, testing knowledge and application of concepts. It will cover micro and macroeconomic theories as well as money and banking, government finance, and national income.
- Paper II is a project work exam worth 20 marks assessing two projects completed by students on topics from the theory syllabus, through evaluation of the project content and a viva voce.
- Sample project topics are provided covering sectors of the economy, comparative analyses, surveys and trend studies. Guidelines for evaluating and documenting the projects are also given.
BUS 599 Strategic Management ExamQuestion 1 Which of the fo.docxaman341480
BUS 599: Strategic Management Exam
Question 1
Which of the following IS NOT an argument in favor of corporate social responsibility?
(a) Imposes unequal costs among competitors.
(b) Responds to changing stakeholders’ demands.
(c) Corrects social problems caused by business.
(d) Discourages government regulation.
Question 2
The ethical roots of the classical model of corporate social responsibility are found in which statement?
(a) The idea that the interests of stakeholders are as important as the interests of a corporation’s stockholders.
(b) The free market theory which holds that managers are ethically obliged to make as much money as possible for their.
(c) The ethical imperative to cause no harm.
(d) The ethical imperative to prevent harm.
Question 4
Which one of the following propositions correctly describes the concept of a right?
(a) Rights protect a person’s wants.
(b) There is really no distinction between a person’s wants and interests. Rights protect both.
(c) Rights protect a person’s interests.
(d) My rights never correspond to your duties and your duties never correspond to my rights.
Question 5
Human rights are:
(a) The standards of treatment to which all people are entitled.
(b) Can safely be ignored by international companies.
(c) Defined in the united Nations Global Compact.
(d) Of no interest to customers of international companies.
Question 6
Which statement characterizes the moral reasoning typically found in a child?
(a) When in ROME, do as the Romans do.
(b) I’II scratch your back, if you’II scratch mine.
(c) Seek the greatest good for the greatest number.
(d) Respect the rights of others.
Question 7
The Iron Law of Responsibility says that:
(a) In the long run, those who do not use power responsibly will lose it.
(b) In the short run, sacrifice social goals for economic goals.
(c) Law is most important, more than social or economic responsibility.
(d) In the long run, economic responsibility leads to social responsibility.
Question 8
External rewards and internal rewards relate to which part of the ethical decision-making framework?
(a) Individual factors
(b) Significant others
(c) Cognitive moral development
(d) Intentions
(e) Opportunity
Question 10
Which one of the following statements about multinational corporations is FALSE?
(a) MNCs are corporate organizations that operate on a global scale without significant ties to any one nation or region.
(b) MNCs are inherently unethical.
(c) MNCs are cauterized by a global strategy of focusing on opportunities throughout the world.
(d) Some MNCs are so large and powerful that their revenues are greater than the gross domestic products of some countries.
(e) Because of their size and power, MNCs have been the subject of much ethical criticism and the source of a number of ethical issues.
Question 11
The most intense rivalry results from:
(a) Numerous equally bal ...
This document provides information about the Managerial Economics course. It outlines the course objectives, instructor details, assessment breakdown, assignment topics, lecture topics and reading material. The key points are:
1) The course aims to help students understand economics and make better business decisions. It will cover microeconomics, macroeconomics and their application to management.
2) Assessment includes tests, assignments, presentations and case studies worth a total of 100 marks.
3) The course will be delivered through lectures, presentations, case discussions and assignments on various economics and business topics.
4) Four assignments on topics like demand forecasting and cost analysis will be given to students.
1. This document outlines the details of the Managerial Economics course including the instructor information, evaluation criteria, assignments, presentations, activities, and lecture topics.
2. The course aims to help students understand economics in their personal and professional lives to become better decision makers.
3. Students will be evaluated based on tests, assignments, case studies, and presentations covering microeconomics, macroeconomics, demand analysis, forecasting techniques, utility analysis, and production functions.
This document provides information about the Managerial Economics course taught by Shweta Miglani. It outlines the course objectives, tests, assignments, grading breakdown, topics, and activities. There will be 3 tests, 4 assignments, and 4 case studies. The total marks are 100, with 60 for the external exam and 40 for internal assessments including midterms, assignments, presentations, and case studies. Topics covered include demand analysis, production functions, costs, pricing, market structures, national income, consumption, investment, inflation, and macroeconomic stabilization policies.
This document provides information about the Managerial Economics course including:
1. The course objectives are to understand economics, become active participants in the economy, improve decision making skills, and assist with business decisions.
2. Assessments include tests, assignments, case studies, and presentations covering topics like demand analysis, production functions, costs, pricing, and market structures.
3. The course is designed to provide extensive knowledge of microeconomics and macroeconomics through lectures, presentations, case discussions, and assignments to help students learn.
The document provides an overview of basic economic concepts. It defines economics as the study of how individuals and societies deal with scarcity. Scarcity means that resources are limited and not enough to satisfy all wants, so choices must be made. Microeconomics studies small economic units like individuals and firms, while macroeconomics looks at the overall economy. Positive statements are factual, while normative statements include value judgments. Economists use theories and models to understand and address economic problems. The concepts of opportunity cost, marginal analysis, and supply and demand are introduced.
Switching costs ____________________________.
Question 1 options:
a)
that are high provide good opportunities for new partners or suppliers to enter this market (picture).
b)
in consumer markets can be high due to investments that partners make in matching buying and ordering.
c)
can be kept lower by utilizing a sole supplier.
d)
are more important for businesses, than for consumer buyers, due to the close buyer-seller relationships that develop.
e)
that are kept high are a good long-term tactic to keep buyers locked into poor quality service.
Question 2
(3 points)
Which of the following applies to Intellectual Property law?
Question 2 options:
a)
copyrights provide protection for trade secrets.
b)
copyrights provide protection for the original works of authors, musicians, and photographers.
c)
confidentiality agreements are only required for customers.
d)
requires a substantiality test to gain property protection.
e)
tends to reduce competition and decrease innovation.
Question 3
(3 points)
Business buyers
are similar
to final consumers in that:
Question 3 options:
a)
They purchase products and services that support the production of other products.
b)
Ensuring that revenues exceed costs always the primaryconsideration when evaluating a product for purchase.
c)
They purchase products to add to and make their own final product
d)
Customer satisfaction is determined by the customer when the product or service is consumed.
e)
Products purchased are often incorporated into the buying organization's offering to its own customers.
Question 4
(3 points)
Based on the Endries Fastener Company video, the goal of the President of Endries Supply Company was to __________________________.
Question 4 options:
a)
save their customers at least 4% of the cost of their fasteners.
b)
not get involved in Endries' customers' buying decisions until the Deliver
Solution
Stage
c)
be the sole supplier of all the fastener needs of Endries' customers by getting involved all the way through their manufacturing processes.
d)
be the number two fastener provider for the U. S. Department of Defense.
e)
be the number one fastener provider for the women's fashion industry.
Question 5
(3 points)
A good example of Natural Law is ______________?
Question 5 options:
a)
behaving naturally and not getting too excited when a crisis occurs in your company.
b)
the belief that some people are just naturally bad and the more of these bad people that we lock up the better.
c)
when executives just naturally look out for themselves and take company funds for their personal use.
d)
a belief that taking anyone's life is wrong, even for the government when terrible mass murders are committed, like those by the young man in Charleston at a church prayer meeting.
e)
protecting the natural environment by restricting access to wilderness areas
Question 6
(3 points)
Which of the following takes place.
90 exam questions BUS 599 Strategic Management ExamQuestionromeliadoan
90 exam questions
BUS 599: Strategic Management Exam
Question 1
Which of the following IS NOT an argument in favor of corporate social responsibility?
(a) Imposes unequal costs among competitors.
(b) Responds to changing stakeholders’ demands.
(c) Corrects social problems caused by business.
(d) Discourages government regulation.
Question 2
The ethical roots of the classical model of corporate social responsibility are found in which statement?
(a) The idea that the interests of stakeholders are as important as the interests of a corporation’s stockholders.
(b) The free market theory which holds that managers are ethically obliged to make as much money as possible for their.
(c) The ethical imperative to cause no harm.
(d) The ethical imperative to prevent harm.
Question 4
Which one of the following propositions correctly describes the concept of a right?
(a) Rights protect a person’s wants.
(b) There is really no distinction between a person’s wants and interests. Rights protect both.
(c) Rights protect a person’s interests.
(d) My rights never correspond to your duties and your duties never correspond to my rights.
Question 5
Human rights are:
(a) The standards of treatment to which all people are entitled.
(b) Can safely be ignored by international companies.
(c) Defined in the united Nations Global Compact.
(d) Of no interest to customers of international companies.
Question 6
Which statement characterizes the moral reasoning typically found in a child?
(a) When in ROME, do as the Romans do.
(b) I’II scratch your back, if you’II scratch mine.
(c) Seek the greatest good for the greatest number.
(d) Respect the rights of others.
Question 7
The Iron Law of Responsibility says that:
(a) In the long run, those who do not use power responsibly will lose it.
(b) In the short run, sacrifice social goals for economic goals.
(c) Law is most important, more than social or economic responsibility.
(d) In the long run, economic responsibility leads to social responsibility.
Question 8
External rewards and internal rewards relate to which part of the ethical decision-making framework?
(a) Individual factors
(b) Significant others
(c) Cognitive moral development
(d) Intentions
(e) Opportunity
Question 10
Which one of the following statements about multinational corporations is FALSE?
(a) MNCs are corporate organizations that operate on a global scale without significant ties to any one nation or region.
(b) MNCs are inherently unethical.
(c) MNCs are cauterized by a global strategy of focusing on opportunities throughout the world.
(d) Some MNCs are so large and powerful that their revenues are greater than the gross domestic products of some countries.
(e) Because of their size and power, MNCs have been the subject of much ethical criticism and the source of a number of ethical issues.
Question 11
The most intense rivalry results from:
(a ...
Business Economics 02 Introduction to Business EconomicsUttam Satapathy
The document provides an introduction to economics, discussing key concepts like:
1) Economics involves the study of how individuals and groups make production, exchange, and consumption decisions to allocate scarce resources.
2) Economies face problems of scarcity, requiring choices about what, how, and for whom to produce.
3) Economic analysis helps address these problems through concepts like production possibility curves, opportunity costs, and analyzing costs of production.
Country A can produce 100 cars or 50 TVs
Country B can produce 80 cars or 60 TVs
Country A has an absolute advantage in cars and TVs
Country B has a comparative advantage in TVs
Country A should specialize in cars and export cars
Country B should specialize in TVs and export TVs
Country A should import TVs
Country B should import cars
This is an output question. OOO
50
Comparative Advantage Practice
Create a chart for each of the following problems.
Wal-Mart's dominance in the general merchandise retail industry could be considered a form of monopoly power. With over $1 trillion in annual revenues, Wal-Mart earns more than its next several largest competitors combined. While its large size and market share do not necessarily violate antitrust laws, some argue Wal-Mart's practices harm smaller competitors and consumers. There is ongoing debate about whether Wal-Mart's influence on the retail industry is positive or negative for the US economy as a whole.
This course on managerial economics is designed for MBA students. It seeks to integrate economic principles with business decision making and policy formulation. The key themes are economic behavior of consumers, producers, and market structures. Students will learn microeconomic and macroeconomic concepts, demand analysis, production and cost theories, and how to apply these tools to model businesses and address managerial issues. Assessment includes presentations, class participation, and assignments. The goal is for students to use economic reasoning to solve business problems.
This course on managerial economics is designed for management students. It seeks to integrate principles of economics with business decision making and policy formulation. The three main themes are economic behavior of consumers/customers, producers/managers, and market and cost structures. The course aims to apply economic reasoning to topics like marketing, finance, and organization. Students will learn tools like demand analysis, production and cost theories, and market structures to address typical business problems. Assessment includes presentations, class participation, and assignments. The course will be taught through lectures, discussions, case studies and problem solving.
This course on managerial economics provides an overview of key economic concepts and principles relevant for business decision making. It aims to help students understand consumer and producer behavior, different market structures, and how to apply economic analysis to marketing, finance, and other business functions. The course will be taught through lectures, case studies, discussions and problem solving. Students will be evaluated based on presentations, class participation, and assignments.
This presentation by Marco BOTTA, Max Planck Institute, was made during the discussion “Quality considerations in the zero-price economy” held at the joint meeting of the OECD Competition Committee and the Committee on Consumer Policy on 28 November 2018. More papers and presentations on the topic can be found out at oe.cd/qcz.
The document discusses the effects of an increase in the price of a normal good using indifference analysis. It explains that a price increase shifts the budget line inward from B1 to B2, reducing the quantity consumed from Q1 to Q2. This decrease can be divided into the substitution effect, shown as the movement from Q1 to Q2 along the original indifference curve I1, and the income effect, shown as the movement from Q2 to a lower indifference curve I2 due to a reduction in real income. The total price effect is the combination of the substitution and income effects.
This document outlines several factors that influence individual behavior and organizational models of organizational behavior, including personal factors like age and abilities, psychological factors like personality and attitudes, environmental factors like economic conditions and social/cultural norms, and organizational systems and resources. It then describes four models of organizational behavior: the autocratic model which relies on authority, the custodial model based on economic rewards, the supportive model dependent on leadership, and the collegial model that emphasizes team spirit.
The document provides information about a Micro Economics course offered at Punjab College of Technical Education in Ludhiana, India. The course is taught by Shweta Miglani and aims to help students understand basic microeconomic concepts. It will cover topics like demand, consumer behavior, production, costs and different market structures over 40 lectures. Students will be assessed through internal assignments, presentations, tests and external exams. The breakdown of marks and topics to be covered each lecture are also outlined.
Optimal Pricing Policy for a Manufacturing Inventory Model with Two Productio...IJERDJOURNAL
ABSTRACT: When a new product is launched, a manufacturer applies the strategy of offering a quantity incentive initially for some time to boost up the demand of the product. The present paper describes a manufacturing inventory model with price sensitive demand enhanced by a quantity incentive. Later on demand becomes time increasing also. Inventory cycle starts with low production rate which is followed by higher production rate when demand is boosted up. Shortages are not allowed in this model. Presentation of numerical examples, tables, graphs and sensitivity analysis describes the model very well. Lastly case without incentive illustrates that usually the quantity incentive offered initially is beneficial.
The document provides an overview of basic economic concepts. It discusses:
- Economics is the study of how individuals and societies deal with scarcity. Scarcity means that resources are limited and our wants are unlimited, so we must make choices about how to use resources.
- Microeconomics studies small economic units like individuals and firms, while macroeconomics looks at the overall economy. Positive economics makes factual statements, while normative economics includes value judgments.
- The production possibilities curve (PPC) model shows the tradeoffs between producing different goods given limited resources. Points on the PPC are productively efficient, while the optimal point depends on societal wants.
- Comparative advantage explains why countries
This document outlines a course on Principles of Micro Economics taught at ANSAL Institute of Technology in Gurgaon, India in 2012. The 3 credit course is facilitated by Dr. Meenal Sharma Jagtap and aims to familiarize students with basic microeconomic concepts and theories to help them apply economic tools to managerial decision making. The course uses various teaching methods like lectures, assignments, group projects and tests. Students are evaluated throughout the term based on assignments, presentations, quizzes, midterm tests and a final exam. The course covers topics like demand and supply, costs and revenues, market forms, income distribution and international economics across 45 sessions.
This document outlines the syllabus and exam structure for Economics Class XII in India. It discusses:
- Paper I will be a theory exam worth 80 marks, testing knowledge and application of concepts. It will cover micro and macroeconomic theories as well as money and banking, government finance, and national income.
- Paper II is a project work exam worth 20 marks assessing two projects completed by students on topics from the theory syllabus, through evaluation of the project content and a viva voce.
- Sample project topics are provided covering sectors of the economy, comparative analyses, surveys and trend studies. Guidelines for evaluating and documenting the projects are also given.
BUS 599 Strategic Management ExamQuestion 1 Which of the fo.docxaman341480
BUS 599: Strategic Management Exam
Question 1
Which of the following IS NOT an argument in favor of corporate social responsibility?
(a) Imposes unequal costs among competitors.
(b) Responds to changing stakeholders’ demands.
(c) Corrects social problems caused by business.
(d) Discourages government regulation.
Question 2
The ethical roots of the classical model of corporate social responsibility are found in which statement?
(a) The idea that the interests of stakeholders are as important as the interests of a corporation’s stockholders.
(b) The free market theory which holds that managers are ethically obliged to make as much money as possible for their.
(c) The ethical imperative to cause no harm.
(d) The ethical imperative to prevent harm.
Question 4
Which one of the following propositions correctly describes the concept of a right?
(a) Rights protect a person’s wants.
(b) There is really no distinction between a person’s wants and interests. Rights protect both.
(c) Rights protect a person’s interests.
(d) My rights never correspond to your duties and your duties never correspond to my rights.
Question 5
Human rights are:
(a) The standards of treatment to which all people are entitled.
(b) Can safely be ignored by international companies.
(c) Defined in the united Nations Global Compact.
(d) Of no interest to customers of international companies.
Question 6
Which statement characterizes the moral reasoning typically found in a child?
(a) When in ROME, do as the Romans do.
(b) I’II scratch your back, if you’II scratch mine.
(c) Seek the greatest good for the greatest number.
(d) Respect the rights of others.
Question 7
The Iron Law of Responsibility says that:
(a) In the long run, those who do not use power responsibly will lose it.
(b) In the short run, sacrifice social goals for economic goals.
(c) Law is most important, more than social or economic responsibility.
(d) In the long run, economic responsibility leads to social responsibility.
Question 8
External rewards and internal rewards relate to which part of the ethical decision-making framework?
(a) Individual factors
(b) Significant others
(c) Cognitive moral development
(d) Intentions
(e) Opportunity
Question 10
Which one of the following statements about multinational corporations is FALSE?
(a) MNCs are corporate organizations that operate on a global scale without significant ties to any one nation or region.
(b) MNCs are inherently unethical.
(c) MNCs are cauterized by a global strategy of focusing on opportunities throughout the world.
(d) Some MNCs are so large and powerful that their revenues are greater than the gross domestic products of some countries.
(e) Because of their size and power, MNCs have been the subject of much ethical criticism and the source of a number of ethical issues.
Question 11
The most intense rivalry results from:
(a) Numerous equally bal ...
This document provides information about the Managerial Economics course. It outlines the course objectives, instructor details, assessment breakdown, assignment topics, lecture topics and reading material. The key points are:
1) The course aims to help students understand economics and make better business decisions. It will cover microeconomics, macroeconomics and their application to management.
2) Assessment includes tests, assignments, presentations and case studies worth a total of 100 marks.
3) The course will be delivered through lectures, presentations, case discussions and assignments on various economics and business topics.
4) Four assignments on topics like demand forecasting and cost analysis will be given to students.
1. This document outlines the details of the Managerial Economics course including the instructor information, evaluation criteria, assignments, presentations, activities, and lecture topics.
2. The course aims to help students understand economics in their personal and professional lives to become better decision makers.
3. Students will be evaluated based on tests, assignments, case studies, and presentations covering microeconomics, macroeconomics, demand analysis, forecasting techniques, utility analysis, and production functions.
This document provides information about the Managerial Economics course taught by Shweta Miglani. It outlines the course objectives, tests, assignments, grading breakdown, topics, and activities. There will be 3 tests, 4 assignments, and 4 case studies. The total marks are 100, with 60 for the external exam and 40 for internal assessments including midterms, assignments, presentations, and case studies. Topics covered include demand analysis, production functions, costs, pricing, market structures, national income, consumption, investment, inflation, and macroeconomic stabilization policies.
This document provides information about the Managerial Economics course including:
1. The course objectives are to understand economics, become active participants in the economy, improve decision making skills, and assist with business decisions.
2. Assessments include tests, assignments, case studies, and presentations covering topics like demand analysis, production functions, costs, pricing, and market structures.
3. The course is designed to provide extensive knowledge of microeconomics and macroeconomics through lectures, presentations, case discussions, and assignments to help students learn.
The document provides an overview of basic economic concepts. It defines economics as the study of how individuals and societies deal with scarcity. Scarcity means that resources are limited and not enough to satisfy all wants, so choices must be made. Microeconomics studies small economic units like individuals and firms, while macroeconomics looks at the overall economy. Positive statements are factual, while normative statements include value judgments. Economists use theories and models to understand and address economic problems. The concepts of opportunity cost, marginal analysis, and supply and demand are introduced.
Switching costs ____________________________.
Question 1 options:
a)
that are high provide good opportunities for new partners or suppliers to enter this market (picture).
b)
in consumer markets can be high due to investments that partners make in matching buying and ordering.
c)
can be kept lower by utilizing a sole supplier.
d)
are more important for businesses, than for consumer buyers, due to the close buyer-seller relationships that develop.
e)
that are kept high are a good long-term tactic to keep buyers locked into poor quality service.
Question 2
(3 points)
Which of the following applies to Intellectual Property law?
Question 2 options:
a)
copyrights provide protection for trade secrets.
b)
copyrights provide protection for the original works of authors, musicians, and photographers.
c)
confidentiality agreements are only required for customers.
d)
requires a substantiality test to gain property protection.
e)
tends to reduce competition and decrease innovation.
Question 3
(3 points)
Business buyers
are similar
to final consumers in that:
Question 3 options:
a)
They purchase products and services that support the production of other products.
b)
Ensuring that revenues exceed costs always the primaryconsideration when evaluating a product for purchase.
c)
They purchase products to add to and make their own final product
d)
Customer satisfaction is determined by the customer when the product or service is consumed.
e)
Products purchased are often incorporated into the buying organization's offering to its own customers.
Question 4
(3 points)
Based on the Endries Fastener Company video, the goal of the President of Endries Supply Company was to __________________________.
Question 4 options:
a)
save their customers at least 4% of the cost of their fasteners.
b)
not get involved in Endries' customers' buying decisions until the Deliver
Solution
Stage
c)
be the sole supplier of all the fastener needs of Endries' customers by getting involved all the way through their manufacturing processes.
d)
be the number two fastener provider for the U. S. Department of Defense.
e)
be the number one fastener provider for the women's fashion industry.
Question 5
(3 points)
A good example of Natural Law is ______________?
Question 5 options:
a)
behaving naturally and not getting too excited when a crisis occurs in your company.
b)
the belief that some people are just naturally bad and the more of these bad people that we lock up the better.
c)
when executives just naturally look out for themselves and take company funds for their personal use.
d)
a belief that taking anyone's life is wrong, even for the government when terrible mass murders are committed, like those by the young man in Charleston at a church prayer meeting.
e)
protecting the natural environment by restricting access to wilderness areas
Question 6
(3 points)
Which of the following takes place.
90 exam questions BUS 599 Strategic Management ExamQuestionromeliadoan
90 exam questions
BUS 599: Strategic Management Exam
Question 1
Which of the following IS NOT an argument in favor of corporate social responsibility?
(a) Imposes unequal costs among competitors.
(b) Responds to changing stakeholders’ demands.
(c) Corrects social problems caused by business.
(d) Discourages government regulation.
Question 2
The ethical roots of the classical model of corporate social responsibility are found in which statement?
(a) The idea that the interests of stakeholders are as important as the interests of a corporation’s stockholders.
(b) The free market theory which holds that managers are ethically obliged to make as much money as possible for their.
(c) The ethical imperative to cause no harm.
(d) The ethical imperative to prevent harm.
Question 4
Which one of the following propositions correctly describes the concept of a right?
(a) Rights protect a person’s wants.
(b) There is really no distinction between a person’s wants and interests. Rights protect both.
(c) Rights protect a person’s interests.
(d) My rights never correspond to your duties and your duties never correspond to my rights.
Question 5
Human rights are:
(a) The standards of treatment to which all people are entitled.
(b) Can safely be ignored by international companies.
(c) Defined in the united Nations Global Compact.
(d) Of no interest to customers of international companies.
Question 6
Which statement characterizes the moral reasoning typically found in a child?
(a) When in ROME, do as the Romans do.
(b) I’II scratch your back, if you’II scratch mine.
(c) Seek the greatest good for the greatest number.
(d) Respect the rights of others.
Question 7
The Iron Law of Responsibility says that:
(a) In the long run, those who do not use power responsibly will lose it.
(b) In the short run, sacrifice social goals for economic goals.
(c) Law is most important, more than social or economic responsibility.
(d) In the long run, economic responsibility leads to social responsibility.
Question 8
External rewards and internal rewards relate to which part of the ethical decision-making framework?
(a) Individual factors
(b) Significant others
(c) Cognitive moral development
(d) Intentions
(e) Opportunity
Question 10
Which one of the following statements about multinational corporations is FALSE?
(a) MNCs are corporate organizations that operate on a global scale without significant ties to any one nation or region.
(b) MNCs are inherently unethical.
(c) MNCs are cauterized by a global strategy of focusing on opportunities throughout the world.
(d) Some MNCs are so large and powerful that their revenues are greater than the gross domestic products of some countries.
(e) Because of their size and power, MNCs have been the subject of much ethical criticism and the source of a number of ethical issues.
Question 11
The most intense rivalry results from:
(a ...
Business Economics 02 Introduction to Business EconomicsUttam Satapathy
The document provides an introduction to economics, discussing key concepts like:
1) Economics involves the study of how individuals and groups make production, exchange, and consumption decisions to allocate scarce resources.
2) Economies face problems of scarcity, requiring choices about what, how, and for whom to produce.
3) Economic analysis helps address these problems through concepts like production possibility curves, opportunity costs, and analyzing costs of production.
Country A can produce 100 cars or 50 TVs
Country B can produce 80 cars or 60 TVs
Country A has an absolute advantage in cars and TVs
Country B has a comparative advantage in TVs
Country A should specialize in cars and export cars
Country B should specialize in TVs and export TVs
Country A should import TVs
Country B should import cars
This is an output question. OOO
50
Comparative Advantage Practice
Create a chart for each of the following problems.
Wal-Mart's dominance in the general merchandise retail industry could be considered a form of monopoly power. With over $1 trillion in annual revenues, Wal-Mart earns more than its next several largest competitors combined. While its large size and market share do not necessarily violate antitrust laws, some argue Wal-Mart's practices harm smaller competitors and consumers. There is ongoing debate about whether Wal-Mart's influence on the retail industry is positive or negative for the US economy as a whole.
This course on managerial economics is designed for MBA students. It seeks to integrate economic principles with business decision making and policy formulation. The key themes are economic behavior of consumers, producers, and market structures. Students will learn microeconomic and macroeconomic concepts, demand analysis, production and cost theories, and how to apply these tools to model businesses and address managerial issues. Assessment includes presentations, class participation, and assignments. The goal is for students to use economic reasoning to solve business problems.
This course on managerial economics is designed for management students. It seeks to integrate principles of economics with business decision making and policy formulation. The three main themes are economic behavior of consumers/customers, producers/managers, and market and cost structures. The course aims to apply economic reasoning to topics like marketing, finance, and organization. Students will learn tools like demand analysis, production and cost theories, and market structures to address typical business problems. Assessment includes presentations, class participation, and assignments. The course will be taught through lectures, discussions, case studies and problem solving.
This course on managerial economics provides an overview of key economic concepts and principles relevant for business decision making. It aims to help students understand consumer and producer behavior, different market structures, and how to apply economic analysis to marketing, finance, and other business functions. The course will be taught through lectures, case studies, discussions and problem solving. Students will be evaluated based on presentations, class participation, and assignments.
This presentation by Marco BOTTA, Max Planck Institute, was made during the discussion “Quality considerations in the zero-price economy” held at the joint meeting of the OECD Competition Committee and the Committee on Consumer Policy on 28 November 2018. More papers and presentations on the topic can be found out at oe.cd/qcz.
The document discusses the effects of an increase in the price of a normal good using indifference analysis. It explains that a price increase shifts the budget line inward from B1 to B2, reducing the quantity consumed from Q1 to Q2. This decrease can be divided into the substitution effect, shown as the movement from Q1 to Q2 along the original indifference curve I1, and the income effect, shown as the movement from Q2 to a lower indifference curve I2 due to a reduction in real income. The total price effect is the combination of the substitution and income effects.
This document outlines several factors that influence individual behavior and organizational models of organizational behavior, including personal factors like age and abilities, psychological factors like personality and attitudes, environmental factors like economic conditions and social/cultural norms, and organizational systems and resources. It then describes four models of organizational behavior: the autocratic model which relies on authority, the custodial model based on economic rewards, the supportive model dependent on leadership, and the collegial model that emphasizes team spirit.
This document provides an introduction to the topic of organisational behaviour. It defines organisational behaviour as the study of people within an organisation, investigating the behaviour of individuals, groups, and relationships between individuals and groups and how that behaviour affects organizational performance. The knowledge of organizational behaviour can then be used to explain and predict likely behaviour in situations and promote behaviour that benefits both people and the business. It notes that organizational behaviour draws from fields like psychology, sociology, and political science.
The document provides information about an Organization Behaviour course for students of Punjab College of Technical Education, Ludhiana. It outlines the course topics which include introduction to OB, individual behavior, personality, motivation, group dynamics and leadership. The purpose is to equip professionals with skills to understand individual and group behavior in organizations. Learning outcomes include understanding elements of individual behavior, attitudes, personality and motivation. The course will also cover group development, stress management and conflict resolution.
The document discusses the economic concept of utility. It defines utility as the satisfaction derived from consuming goods and services. It explains that utility is subjective, relative, and different from usefulness. It also discusses how utility can be measured in terms of money or units, and concepts like initial utility, marginal utility, and total utility. The document then explains the law of diminishing marginal utility, which states that each additional unit of a good provides less additional utility than the previous unit. It provides an example of how this law applies to eating tortillas. Finally, it discusses exceptions and limitations to the law of diminishing marginal utility.
Microeconomics studies how individuals and firms make choices given scarce resources and analyzes how supply and demand determine prices and quantities of goods and services in markets. It examines how resources are allocated most efficiently among alternative uses and how goods and services are distributed among different groups in society. The goal is to understand the workings of individual parts of the economy in order to assess policies and provide insights on efficient resource use, business decisions, and economic welfare.
Microeconomics studies how individuals and firms make choices given scarce resources. It examines how supply and demand determine prices and outputs in specific markets. Microeconomics analyzes the workings of individual markets and can help improve efficiency, inform business decisions, and evaluate policy impacts on welfare. However, it has limitations in assuming full employment and no government intervention.
This document provides an introduction to the topic of organisational behaviour. It defines organisational behaviour as the study of people within an organisation, investigating the behaviour of individuals, groups, and relationships between individuals and groups and how that behaviour affects organizational performance. The knowledge of organizational behaviour can then be used to explain and predict likely behaviour in situations and promote behaviour that benefits both people and the business. It notes that organizational behaviour draws from fields like psychology, sociology, and political science.
This document provides an introduction to the topic of organisational behaviour. It defines organisational behaviour as the study of people within an organisation, investigating the behaviour of individuals, groups, and relationships between individuals and groups and how that behaviour affects organizational performance. The knowledge of organizational behaviour can then be used to explain and predict likely behaviour in situations and promote behaviour that benefits both people and the business. It notes that organizational behaviour draws from fields like psychology, sociology, and political science and considers the unique perspectives of individuals in the workplace and their interactions with the organization.
1. Punjab College of Technical Education, Ludhiana
Course Instructor: Chitwan Kaur
Subject: Micro Economics
Subject Code: - BB 103
E-mail Id & Contact Number: chitwan15@gmail.com (+919888906881)
Total No. of Lectures: 40
Course Objective:
The Course is helpful in understanding the microeconomic concepts. This is a module in basic
microeconomic concepts and principles. It gives the student a fairly rigorous grounding in the
essential tools of microeconomic analysis. The aims and objectives of the module, together with
information on learning methods are given below.
After the completion of the course, students would be able to:
Understand modern micro economic concepts, theories and methods.
Apply micro economic models and methods in order to analyse government policies.
Grading criteria
Max Marks: - 100
Internal Assessment: - 40
External Assessment:-60
Break up for Internals
MSE: - 15 Marks (60)
Presentation:-5 Marks (20)
Tests:-10 Marks (2 Tests) (40)
Assignments:-4 Marks (2 Assignments) (16)
Case Study: - 3 Marks (2 Case Studies) (12)
Viva: - 3 Marks (12)
Break Up of the Course
1
2. LECTURE CASE ACTIVITY
NO TOPIC ASSIGNMENTS TESTS STUDY
1 Ice breaking Session
Micro economics: 1)Meaning
2) Nature
2-3 3) Scope
Basic Concepts of
Economics:
1) Static and Dynamic
Approaches
2) Equilibrium
4 3) Utility
Basic Concepts of
Economics: (contd)
4) Opportunity Cost
5) Marginal and
Incremental
5 Principles
Micro economics and
6 Business Assignment No. 1
Theory of Demand:
1) Nature of Demand
2) Individual Demand
7 3) Market Demand
Two Ways To Reduce The
quantity of Smoking Case
8 Demanded Study 1
Theory of Demand: (contd..)
4) Determinants of
demand
9
Theory of Demand: (contd..)
5) Elasticity of Demand
and its determinants
10-12 6) Measurement of Ed
Theory of Demand: (contd..)
7) Demand as
13 multivariate function
14 Activity 1
Theory of Consumer
Behaviour:
1) Utility Analysis
a) Cardinal utility
15 analysis
b) Law of
diminishing
16 marginal utility
2
3. c) Law of equi
17 marginal utility.
d) Consumer
Equilibrium
e) Ordinal utility
18 analysis
Theory of Consumer
Behaviour: (contd..)
2) Indifference Curve
Analysis
19-21
Theory of Consumer
Behaviour: (contd..)
22 3) Applications of IC
Theory of production and
costs:
1) concept of production
23-24 function
Theory of production and
costs:
( contd..)
2) production with one
25 and two variable inputs
Theory of production and
costs:
( contd..)
3) optimal input
26 combination
Theory of production and
costs:
( contd..)
4) theory of cost in short
27 run
Theory of production and
costs:
( contd..)
5) theory of cost in long
28-29 run
30 Revenue function
Theory of firm and market
organization:
31 1) Breakeven analysis
2) pricing under perfect
32 competition
3) pricing under
33 monopoly
34 4) price discrimination
35 The DeBeers Diamond Case
3
4. Monopoly Study 2
5) pricing under
monopolistic
36 competition Assignment 2
37 6) selling cost
7) pricing under
oligopoly: cournot
38 model
39 8) kinked demand curve
40 9) price leadership
Tests would be incorporated as per the schedule fixed in the coming days.
Assignments:
Students are supposed to submit the assignments on the given date and late submission
will not be allowed. Copying an assignment will award you a zero and NO
IMPROVEMENTS will be allowed for the same.
Assignment 1:
Each student will be allotted one product and you are supposed to get the response from 50
different people. What are the different factors they considered while purchasing that particular
product?
Price ______ Non availability of substitute’s ________
Availability ______ Possession of a complementary good ________
Variety ______ Income ______
Design ______ Expectation of price increase in future
Multiple use ______ Any Other, Please specify ________
Trying new product _______ Habit
Brand Loyalty ________
Summarize your research in one page as to what are the major three reasons of consideration
for the purchase of that product. Elasticity?
4
5. Assignment 2: E- Assignment
1. List down 5 different products that operate under monopolistic competition. Also
compare their prices with the substitutes of other companies.
2. List down 5 different products that operate under oligopoly form of market. Are the
prices charged justified or not? What are the measures taken by the government to check
the prices from being overcharged by the oligopolist?
Presentation:
The class would be divided into groups of 4 each. Each group will have 16 minutes for
case presentation. Following are the presentation topics:
1. Small segment cars in Indian Market
2. Ten richest people in India
3. Cycle Market of Ludhiana And Comparison between Hero Cycles and Avon Cycles
4. Product differentiation in Maggi
5. Contribution of Tourism in GDP
6. Demand of Teenagers: Price based or Fashion Based
7. Greece Debt Crisis
8. Hindustan Lever Ltd: Product Differentiation
9. Future of Rs 1 Lakh cars and impact on 2 wheeler sector
10. Boutique Hospitals in India and impact on Indian economy
11. 3G Mobile Technology
12. Professionalism in Bollywood and impact on Indian economy
13. Comparison of India and China
14. Business leaders in India
15. Emerging communication technologies
Case Study
5
6. Case Study 1
Two Ways To Reduce The quantity of Smoking Demanded
Public policymakers often want to reduce the amount that people smoke. There are two ways that
policy can attempt to achieve this goal.
One way to reduce smoking is to shit the demand curve for cigarettes and other tobacco
products. Public service announcements, mandatory health warnings on cigarette packages, and
the prohibition of cigarette advertising on television are all policies aimed at reducing the
quantity of cigarettes demanded at a given price. If possible these policies shift the demand curve
for cigarettes to the left.
Alternatively, policymakers can try to raise the price of cigarettes. If the government taxes the
manufacturers of cigarettes, for example, cigarette companies pass much of this tax on to
consumers in the form of higher prices. A higher price encourages the consumers to reduce the
numbers of cigarettes they smoke. In this case, the reduced amount of smoking does not
represent a shift in the demand curve. Instead, it represents a movement along the same demand
curve on a point with a higher price and lower quantity.
How much does the amount of smoking respond to changes in the price of cigarettes?
Economists have attempted to answer this question by studying what happens when the tax on
cigarette changes. They have found that 2% increase in price causes a 4% decrease in the
quantity demanded. Teenagers are found to be especially sensitive to the price of cigarettes. 10%
increase in price causes a 12% drop in teenage smoking.
A related question is how the price of cigarettes affects the demand for other drugs such as
marijuana. Opponents of cigarette taxes often argue that tobacco and marijuana are substitutes,
so that high cigarette prices encourage marijuana. There is another view which says that lower
cigarette prices are associated with greater use of marijuana. In other words, tobacco and
marijuana appear to be complements rather than substitutes.
6
7. Y
A Policy to discourage smoking
D1 shifts the demand curve to the left
D2
P
A
Shift in the demand curve
Y Axis: price of cigarettes per pack
X
No. of cigarettes smoked per day
Case Study 2
The DeBeers Diamond Monopoly
A classic example of a monopoly that arise from the ownership of key source is DeBeers, the
South African diamond company. DeBeers controls about 80% of the world’s production of
diamonds. Although the firm’s share is not 100%, it is large enough to exert substantial influence
over market price of diamonds.
How much market power does DeBeers have? The answer depends in part on whether there are
close substitutes for its product. If people view emeralds, rubies and sapphires as good
substitutes for diamonds, then DeBeers has relatively little market power. In this case, any
attempt by DeBeers to raise the price of diamonds would cause people to switch to other
gemstones. But if people view these other stones as very different from diamonds, then DeBeers
can exert substantial influence over the price of its product.
7
8. DeBeers pays for large amount of advertising. At first, this decision might seem surprising. If a
monopoly is the sole seller of its product, why does it need to advertise? One goal of DeBeers
ads is to differentiate diamonds and other stones in the minds of the consumers. When their
slogan tells you that “diamonds are forever,” you are meant to think that same is not true of
emeralds, rubies and sapphires. If the ads are successful, consumers feel that diamonds are
unique, rather than as one among many gemstones and this perception will give DeBeers greater
market power.
Activity 1
Stage 1
You have Rs 200 to spend. You can buy any of the products in any combination, but you must
make sure you spend all of your Rs 200. You may not spend more than Rs 200. Complete the
table below.
Product Quantities
Can of coke (Rs25)
Snickers bar (Rs 30)
1 Bottle milk (Rs15)
Cookies (Rs 30)
Stage 2
Today is a new day and you have consumed all the food you bought above yesterday - you have
no food at all at the moment.
8
9. A global shortage of peanuts has pushed the price of a Snickers bar up to Rs 35. All other
product prices remain the same. You still have Rs 200 to spend (which you must spend all of).
Complete the table below with your new shopping list.
Product Quantities
Can of coke (Rs25)
Snickers bar (Rs 35)
1 Bottle milk (Rs15)
Cookies (Rs 30)
Stage 3 - Calculating Market Demand
Add together the requests from each individual in your group for each product in stages 1 and 2.
This will give you the Market Demand for each product. Complete the table below.
Quantities - Stage 1 Quantities - Stage 2
Product
(Snickers 30) (Snickers cost 35)
Can of coke
Snickers bar
1 Bottle milk
Cookies
You can now see the Market Demand for Snickers bars at each of the prices in stages 1 and 2.
Draw the demand curve for Snickers bars below. Draw a straight line through the two co-
ordinates on the graph.
What sort of relationship exists between price and quantity demanded?
Stage 4 - Introducing Price Elasticity of Demand
You can now see responsiveness of quantity demanded to a change in price for Snickers bars.
Calculate the Price Elasticity of Demand using the formula:
Percentage change in quantity demanded
Price Elasticity of Demand =
Percentage change in price
9
10. Hint: To calculate a percentage change, divide the change in the value of a variable by the initial
value, then multiply by 100. For example, if demand for cans of coke rises from 7 to 10, then the
change in value is 3. Dividing 3 by 7 (the initial value) gives 0.43. Multiplying by 100 gives
43%.
Stage 5
It is now Day 3 and the peanut crisis has eased. Snickers bars now cost Rs 30 again. You have
consumed all the food you bought on Day 2.
The generosity of the government has provided all students with a grant and they now have to
spend Rs 300. Complete the tables below with your new shopping list, ensuring you spend all of
your Rs 300
Product Quantities
Can of coke (Rs25)
Snickers bar (Rs 30)
1 Bottle milk (Rs15)
Cookies (Rs 30)
Stage 6 - Introducing Income Elasticity of Demand
Complete the table below to show market demand for Snickers bars in stages 1 and 5. Make sure
you add up the demand from individuals in your group. This shows the difference in market
demand at different income levels.
Quantities - Stage 1 Quantities - Stage 5
Product
(Income is Rs 200) (Income is Rs 300)
Can of coke
Snickers bar
Pint of milk
Mars bar
You can now see the Market Demand for Snickers bars at the different income levels in stages 1
and 5. Draw the demand curve for Snickers bars below.
10
11. You can now see responsiveness of quantity demanded to a change in income for Snickers bars.
Calculate the Income Elasticity of Demand using the formula:
Percentage change in quantity demanded
Income Elasticity of Demand =
Percentage change in income
Stage 7 - Introducing Cross Price Elasticity of Demand
Take another look at the table above under 'Stage 3 - Calculating Market Demand'. What
happened to the quantities demanded of the other goods when the price of Snickers bars
increased? The responsiveness of quantity demanded of one product to a price change in a
related product is known as the Cross Price Elasticity of Demand and can be calculated using the
following formula:
Percentage change in quantity demanded of
Cross Price Elasticity of Demand = x
Percentage change in price of y
Calculate the Cross Price Elasticity of Demand for cans of coke, bottles of milk and cookies, and
plot the shift in the demand curve on the templates below.
Activity 2
Economic Concepts Covered in the Lesson Plan:
• Law of Diminishing Marginal Utility
• Opportunity Cost
• Utility
a. On the paper, students will rate the benefit of consuming a piece of candy based on a scale of
1-10. In economics terminology, this benefit gained from consuming a good or service is called
utility. 1 represents the lowest utility and 10 the highest utility. Those in the audience will also
conduct their own “virtual” rating as you imagine your level of utility of consuming the piece of
candy.
b. The scribe will collect the ratings from the five volunteers.
11
12. c. Distribute one piece of candy to each of the five volunteers and give the following
instructions:
d. Consume the piece of candy and once the volunteer has finished level of utility, based on a
scale of 1-10, is recorded.
e. Distribute the second piece of candy, have the volunteers rate their utility, ask the scribe to
record the ratings. The audience will also rate the second piece. Explain the difference between
utility and marginal utility.
f. Distribute the third piece of candy following the same procedure as above.
g. What do the students notice about the data?
h. Why do you suppose the marginal utility ratings declined?
i. At what point did the marginal utility of consuming begin to decline?
j. Is it possible that this same decline in marginal utility would occur for other items that we
consume? How about a t-shirt? What do you predict would happen to the marginal utility ratings
for the second, third and fourth for the exact same t-shirt?
k. Can you think of an example when the Law of Diminishing Marginal Utility would not hold
true, where an individual’s satisfaction or benefit would continue to increase?
Activity 3
Select any one economic news and analyze its impact on the Indian economy.
Ask the students one day before to get the news in the class.
Activity 4
Word Finder
Terms to be discussed:
Interest rates, GDP, National income, Per capita income, Foreign exchange, how economy
works
Books:
Koutsoyiannis: Modern Microeconomics
H.L Ahuja: Micoeconomics
Question Bank
12
13. Short questions:
1. Explain the term micro economics
2. Explain the opportunity cost
3. What do mean by the term demand
4. Explain marginal utility
5. What is arc elasticity of demand
6. Mention the various assumptions of perfect competition.
7. Give assumptions of indifference curve
8. Explain the term individual demand curve
9. Why demand curve slopes downward
10. Explain the break even analysis
11. rWhat is the scope of microeconomics
12. What is the meaning of price elasticity of demand
13. Show price effect with the help of indifference curve.
14. What are the main assumptions of utility analysis?
15. Distinguish between fixed costs and variable costs.
16. Show the relationship between average revenue and marginal revenue.
17. What ate the features of perfect competition.
18. Define selling costs
19. What do you understand by elasticity of demand
20. What is market price.
21. Define the term income effect
22. Explain the term implicit and explicit costs
23. What do you mean by returns to scale.
24. What is kinky demand curve
25. Distinguish between ordinal no. and cardinal no.
26. What do mean by average fixed cost?
27. What do mean by equi marginal principle
28. Define equilibrium
29. How do tates and preferences of consumer affect the demand of a commodity?
30. What do you mean by production function?
31. What is indifference map
32. Define price effect
33. What are the features of an oligopoly market
34. What are the features of monopolistic competition?
35. What is the relation between total utility and marginal utility
36. What is indifference curve
37. What is the importance of elasticity of demand
38. Why short run cost curve is U shaped
39. Under what conditions can a monopoly firm attain equilibrium
40. Explain oligopoly
Long questions:
1. Discuss the uses of microeconomics
2. Explain the properties of indifference curve.
3. Explain the condition of perfect competition. How is the price determined under
the conditions of perfect competition
13
14. 4. Explain the law of equi marginal utility
5. What is demand curve? Why does the demand curve slope down to the right?
Are there any exceptions to it?
6. What is elasticity of demand? How is it measured?
7. Examine the importance of microeconomics in business studies?
8. Define price elasticity of demand. What are the factors on which price elasticity
of demand depend upon?
9. Explain how consumer attains equilibrium, with the help of indifference curve.
10. Why long run average cost curve is called as planning curve?
11. What is break even analysis? What are its assumptions?
12. Explain the scope of microeconomics
13. Explain the law of diminishing marginal utility. Discuss its importance.
14. What is monopolistic competition? How is price determined under it?
15. Explain the various methods of measuring price elasticity
16. When price discrimination is possible profitable and beneficial to society?
17. Discuss law of diminishing returns. Does it apply to agriculture
18. What do you mean by demand? Give factrs which determine demand of a
commodity?
19. What is law of diminishing marginal returns?
20. Discuss how price and output is determined under monopoly market?
21. Explain price and output determination under cournot model.
22. Explain the features of monopolistic competition. How is it different from
oligopolistic?
23. What is opportunity cost? Give some examples of opportunity cost. How these
costs are relevant for managerial decisions.
24. Distinguish between microeconomics and macro economics
25. Distinguish between arc elasticity and point elasticity of demand
26. Write a note on traditional theory of cost.
27. sWrite a note on price leadership model.
http://marketingpractice.blogspot.com/2006/07/dove-mildest-one.html
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