Guru Gobind Singh Indraprastha Vishwavidyalaya 2011 B.B.A Business economics - 1 - Question Paper
MAHARAJA AGRASEN INSTITUTE OF MANAGEMENT STUDIES
BBA AND BBAfB&I).: 1st SEMESTER FIRST INTERNALS - OCTOBER 2011 BUSINESS ECONOMICS I
Time: 2 hrs MM: 40
Note: Attempt all Questions as per internal choices given.
Explain briefly: (any four) (2,5*4)
JUse of opportunity cost in business decision making f Marginal rate o f substitution Difference-between Micro and Macro Economics Define Advertising elasticity of demand.
(e) Conditions for consumer equilibrium under ordinal utility approach.
Business economics integrates economic theory and business practice to facilitate decision making by business firms. Explain. (10)
_ OR
Distinguish between Eco@micsliMiVusmcs.h Ecoitoinics. Discuss the role of Marginalism and Incrementalism in decision making. (5+5)
Q3\ What is price elasticity of demand? Explain factors affecting elasticity of demand. (4+6)
What is the law of diminishing marginal utility? Explain consumers equilibrium bv cardinal utility approach. (5+5)
lQOvVhat is an indifference curve. Explain the properties in detail. (4+6)
OR
Explain the importance of demand forecasting. Discuss the various methods of demand forecasting. (5+5)
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| Earning: Approval pending. |
