Pandit Ravishankar Shukla University 2009-1st Year B.Com BUSINESS ECONOMICS Annual ( ) - Question Paper

UNIT - 1
Q.1 elaborate the central issues of an economic system ? discuss it.
OR
What do you mean by elasticity of demand ? define the factors effective it.
UNIT - 2

Q.2 What do you inderstand by 'Retirns to Scale' ? discuss the various kinds of returns to scale.
OR
Why are the modern industries organised on a large scale ? Indicate the limitations of large scale production.
UNIT - 3

Q.3 discuss the meaning and rational of perfect Competition.
OR
How are price and output determined by a monopolist ? define.
UNIT - 4

Q.4 How is price determined in monopolistic competition ?
OR
Distingish ranging from nominal and real wages and explain the factors which affect real wages of a labourer.
UNIT - 5

Q.5 Critically exmaine the Ricardian theory of rent.
OR
Examine critically the liquidity preference theory of Interest. Will the rate of intrest ever fall to zero ?

Earning:   Approval pending.