M.B.A-Executive M.B.A 2nd Year MCT-051 : MANAGERIAL ECONOMICS (Indira Gandhi National Open University (IGNOU), New Delhi-2013)

                                           EXECUTIVE MBA (EXMBA)
                                              Term-End Examination  
                                                          June, 2013
                                       MCT-051 : MANAGERIAL ECONOMICS

 

Time : 3 hours                                             Maximum Marks : 100

 

Note : Answer any five questions. All questions carry equal
marks. (5 x 20 = 100)

1. Distinguish between macro-economics and micro-economics. How is macro-economics useful in managerial decision making ?

2. Explain the concept of income-elasticity of demand and explain its role in business decisions.

 

3. What do you understand by :

(a) Special Economic Zones (SEZs)

(b) Price Leadership

(c) Advertising elasticity of demand

(d) GNP

 

4. Define a production function. Explain isoquants and isocost curves. 

 

5. "A monopolist aims at minimizing price rather than profits". Do you agree with this statement ? 

 

6. (a) Distinguish between Risk and Uncertainty.

(b) Construct an example to show the difference between 'economic profit' and 'accounting profit'. 

 

7. Discuss the importance of demand forecasting in product planning. Explain the factors involved in demand forecasting.

 

8. (a) What is meant by demand function ? 

(b) Define price discrimination and mention some illustrations of price discrimination.

Earning:  ₹ 7.50/-