SECTION-A Answer any ten of the following 10*2=20 1. What do you mean by Business Economics? 2. What is Decision Making?

3. Define goals of a business firm. State any three features of such goals? 4. Give the meaning of Profit Maximization? 5. What is Market leadership goal in business of a firm? 6. Give the meaning of Consumer Behavior? 7. Define Law of Diminishing Marginal Utility? 8. What are Indifference Curves? 9. Define Marginal Rate of Substitution? 10. State the difference between cardinal and Ordinal utility? 11. Mention the different methods of measuring national Income? 12. Give the difference between GDP and GNP? SECTION-B Answer any three of the following 13. Discuss the Role and responsibility of a Business Economist? 14. Explain the different degrees of Price Elasticity of demand? 15. Explain briefly the various concepts of National Income? 16. What are objectives of business economics? SECTION-C Answer any one of the following 1*15=15 16. Explain the Law of Equi Marginal Utility with schedule and diagram? 17. What is Indifference curve. Explain the properties of indifference curve? 3*5=15

SECTION-A Answer any ten of the following

10*2=20

1. What do you mean by Business Economics? 2. What is Decision Making? 3. distinguish between total utility and marginal utility? 4. Give the meaning of Profit Maximization? 5. What is Market leadership goal in business of a firm? 6. Give the meaning of Consumer Behavior? 7. Define Law of Diminishing Marginal Utility? 8. What are Indifference Curves? 9. Define Marginal Rate of Substitution? 10. State the difference between cardinal and Ordinal utility? 11. What is budget line? 12. State the difference between economics and business economics? SECTION-B 3*5=15 Answer any three of the following 13. Discuss the Role and responsibility of a Business Economist? 14. Explain the different degrees of Price Elasticity of demand? 15. Explain the limitations of consumer Sovereignty? 16. Explain objectives of business economics? SECTION-C Answer any one of the following 16. Explain the Law of Equi Marginal Utility with schedule and diagram? 17. What is Indifference Curve? Explain the properties of indifference curve? 1*15=15