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Posted By: Jyothi Member Level: Diamond Posted Date: 23 Oct 2007
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2005 Bangalore University B.Com Business Economics - I Question paper
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I Semester B.Com. Examination, November/December 2005
(Semester Scheme)
BUSINESS ECONOMICS - I
Time : 3 Hours Max. Marks : 90
Instruction : Answers should be written either in Kannada or in English.
SECTION - A
Answer ahy ten sub-questions from the following. Each sub-question carries 2 marks. (2x10=20)
1. a) What is business operation ?
b) What is business ecomomics ?
c) What is consumption ?
d) What is total utility ?
e) State the law of demand.
f) What is a budget line ?
g) What is meant by elasticity of supply ?
h) Give an imaginary indifference schedule.
i) Diagrammatically represent increase in supply and contraction of supply.
j) What is production function ?
k) What is Iso Cost Curves ?
l) What is real cost ?
SECTION - B
Answer any five questions. Each question carries 5 marks.
(5x5=25)
2. A manufacturer incurs a total fixed cost of Rs. 400 to produce 6 units of the product. The marginal cost is as follows :
Output 1 2 3 4 5 6
M.C. 220 100 70 85 145 250
Find out total cost, variable cost, average cost, average variable cost and average fixed cost.
3. The following is from the sales records of XYZ Company. Using least square method forecast the sales for the year 2006 and 2007:
Year 2001 2002 2003 2004 2006
Sales 35 40 30 60 50
(in lakhs)
4. With the help of the following data, adopting total outlay method, find out the price elasticity of demand. Diagrammatically represent the demad curves.
Price Quantity demanded
Rs. 10 1000
Rs. 9 2000
Rs. 8 3000
Rs. 9 1000
Rs. 10 900
Rs. 8 1125
Rs. 8 1100
Rs. 9 1050
Rs. 10 1000
5. Write a note on consumers surplus.
6. What are the causes for increasing returns ?
7. What are the various degrees of elasticity of demand ?
8. What are the determinations of supply ?
9. What is the relationship between marginal productivity and average productivity ?
SECTION - C
Answer any three questions from the following. Each question carries 15 marks. (15x3=45)
10. Discuss the role of a business economist in a modern organisation.
11. State and explain the law of equi marginal utility.
12. What is demand forecasting ? What are the various methods of demand forecasting ?
13. Discuss the behaviour of cost curves in the short period.
14. What are the properties of indifference curves ?
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