SRM UNIVERSITY

FACULTY OF ENGINEERING AND TECHNOLOGY

RAMAPURAM CAMPUS PART,
VADAPALANI
B.TECH PROGRAMME CYCLE TEST I1
Time :

9.00 to 10.40 a.m

Max. Marks : 50

ME 0401 Economics and Principles of Management

Part A (9 x 2 = 18 marks)
Answer ALL Questions
1.
2.
3.
4.
5.

Define Opportunity cost.

What are the determinants of supply?
What are the objectives of pricing?
Explain Production Analysis with a suitable diagram.
Explain Average Cost and Marginal Cost.

6. What do you mean by income elasticity and cross

elasticity of demand?
7. Explain bundle pricing and leader pricing strategies.
8. Define management.
9. What are the basic tenets of scientific management
theory?
Part B (2x16 = 32 marks)
Answer ANY TWO Questions
10. Explain the different types of elasticity of supply.
What are the factors affecting elasticity of supply?
11. Briefly explain Fayols principles of management.
12. Explain BEP using a suitable diagram.