B.Com. I (Semester (CBCS) Examination, 2018
busines economics
Day and Date Thursday, 6-12-2018 Max. Marks 70
Time 2.30 p.m. to 5.00 p.m.
Instructions All questions are compulsory.
Figures to the right indicate full marks.
Draw diagram wherever necessary.
1. Choose correct alternatives given below 14
is a subject matter of scope of business economics.
Demand analysis Production cost analysis
Production function analysis All the above
Under free market economy is a king.
Producer Consumer Seller None of these
The co-ordination between traditional economics and real business is called
as economics.
Business Agricultural Industrial International
In economy demand and supply are adjusted by price
mechanism.
Socialistic Free market
Dictatorship All the above
Price elasticity of demand Percentage change in demand
− − − − − − − − − − − − − − − − − −
Percentage change in income
Percentage change in price
Percentage change in investment
None of these
Perfectly elastic demand. Curve is always
Parallel to axis Parallel to axis
Downward from left to right Downward from right to left
The concept of elasticity of demand is related to
J. M. Keynes Adam Smith
Dr. Marshall Edgeworth
P.T.O.
Seat
No. Set P
Set P
SLR-CO 4 *SLRCO4*
Dr. Marshall's utility analysis is based on
Cardinal utility Ordinal utility
Cardinal and ordinal utility None of these
Generally the trend of marginal rate of substitution is
Dicline Increasing
Stable All the above
10) The demand for the commodity of salt is
Elastic More elastic
Inelastic None of these
11) line is also called as budget line.
Price income Price consumption
Price saving Price investment
12) Anticipation of future demand is called as
Forecasting of supply Forecasting of saving
Forecasting of demand None of these
13) The benefits of demand forecasting is for
Producer Consumer Government All the above
14) Generally the demand forecasting for a one year is called as
forecasting of demand.
Short term Medium term
Long term Very long term
2. Write short answers
Explain the scope of business economics. 7
Explain the types of demand forecasting. 7
3. Write short notes
Types of income elasticity of demand. 7
Price income line. 7
4. Answer any one of the following 14
What is free market economy Explain the features of free market
economy.
What is price elasticity of demand Explain types of price elasticity of
demand.
5. Answer any one of the following 14
Explain the defects of utility analysis.
Explain the importance of demand forecasting.