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1. Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
Call us at : 08263069601
NIBM GLOBAL
FIRST SEMESTER EMBA/ MBA
Subject : Principles of Economics
Attend any 4 questions. Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)
Question. 1. Discuss Capitalist Economy.
Answer :
Question. 2. How is Economics useful, describe its importance?
Answer : At its core, Economics is the study of how humans make decisions in the face of scarcity.
These can be individual decisions, family decisions, business decisions or societal decisions. If you
look around carefully, you will see that scarcity is a fact of life.
Scarcity means that human wants for goods, services and resources exceed what is available.
Resources, such as labor, tools, land, and raw
Question. 3. For whom are the goods produced ?Explain.
Answer :
Question. 4. What are the different methods of measuring elasticity of demand? Explain.
Answer : DIFFERENT METHODS OF MEASURING ELASTICITY OF DEMAND
1. Total outlay: According to this method, we compare the total outla y of the purchases or total
revenue,i.e,total value of salesfromthe po intof view of the seller before and after the variations
in price. This is explained with the help of a diagram.

2. Question. 5. Explain the factors governing price elasticity of demand.
Answer :
Price Elasticity of Demand
Price elasticity of demand demonstrates how a change in price affects the quantity
demanded. It is computed as the percentage change in quantity demanded over the
percentage change in price, and it will
Question. 6. Explain the features of a Capitalist Economy.
Answer:Capitalismorcapitalisteconomyisreferredtoas the economicsystemwhere the factorsof
productionsuchas capital goods,labour,natural resourcesandentrepreneurshipare controlled and
regulated by private businesses.
In a capitalist economy, the production of all the goods and services is dependent on the demand
and supply in the market, which is also known as market economy. It is different from the central
planning system, which is also known as command
Dear students get fully solved assignments
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