B.B.A. (Semester (CGPA) Examination, 2017
BUSINESS ECONOMICS (MICRO)
Day Date: Wednesday, 19-04-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
N.B. All questions are compulsory.
Give diagrams and schedules wherever necessary.
Figures to the right indicate full marks.
Q.1 Choose correct alternatives: 07
Which of the following is the subject matter of micro economics?
National Income Individual Income
Monetary Policy Budget Policy
Which of the following is non- insurable risk?
Accident Fire
Competition Natural calamities
A rational consumer always tries to achieve satisfaction.
Minimum Maximum
Negative Zero
A marginal utility from first unit of a commodity is
Maximum Minimum
Zero Negative
Prof. Joseph Schumpeter has developed theory of profit.
Risk bearing Uncertainty bearing
Liquidity preference Innovation
Which of the following market is famous for product differentiation?
Perfect Competition Monopoly
Monopolistic competition Oligopoly
Which of the following is internal business decision?
Selection of plant location Tax and subsidies
Import export duties License and permit
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SLR-SINA 9
Q.1 State whether the following statements are true or false: 07
Land is man made production factor.
Wages is a contractual income.
Demand for labour is direct demand.
Average revenue is a price per unit of a commodity.
Micro economics study aggregate units.
Profit may be positive.
Business economics is a prescriptive science.
Q.2 Write short notes (Any two) 14
Fixed cost variable cost
Explain the law of demand.
Merits of micro economics
Q.3 Write short notes (Any two) 14
Explain the law of diminishing marginal utility?
Explain the features of oligopoly market?
Explain the modern theory of rent?
Q.4 What is price elasticity? Explain the types of price elasticity? 14
OR
Critically evaluate the "Liquidity Preference" theory of interest.
Q.5 Explain the features of monopolistic competition? How price determination
in short -run long-run period?
14
OR
What is business decision? Explain internal business decision? 14