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Roll No:

04621

Annual Examination
SESSION 2015-16
BBA (Ist Sem.)
Principle of Business Economics
Time: 3 Hours.

MM: 100

INSTRUCTIONS:
Question paper is divided into three groups.
Figure to the right in bracket indicates mark.
Assume suitable data if necessary.
GROUP A: Answer any three questions. (Question No. 1st is
compulsory)
3x10=30
1.

2.
3.
4.
5.

Calculate price elasticity of demand by proportionate method


ifQ1 = 8000 Kg
P1 = 40 Rs.
Q2 = 10000 Kg
P2 = 38 Rs.
What is the implication of D= f (P)?
According to Marshall, what are five factor of Production?
What do you understand by law of equi-marginal utility?
State the meaning of cardinal and ordinal approaches of utility
measurement.

GROUP B: Answer any three questions. ((Question No. 6th is


compulsory)
3x15=45

6. Describe five responsibilities of business economist.


7. Explain the law of Diminishing Marginal Utility. What are its
limitations and importance in economics?
8. Define Business Economics and explain its characteristics,
nature and scope.
9. Explain the cost-output relationship in the short-run.
10. Describe internal and external economics of production.

(b) Adam Smith

(d) J. K. Mehta

Iv. According to Weiser, there are .factors of production.


(a) Four
(b) Two

(c) Five
(d) Three

v. Total Utility is maximum when marginal utility is.


GROUP C: All questions are compulsory.
11. One line answer. Each question carries 2 marks.
.
a. Goshens first law
b. Cardinal approach
c. indifference curve analysis
d. Wantlessnes definition
e. Diamond-water paradox

2x5=10

12. Multiple question. (Each question carries 2 marks)


.
2x5=10
I.
Diamond Water paradox of utility was explained
by...
(a)
Bentham
(c) Marshall
(b)
H.H. Goshen
(d) Adam Smith
II.
The shape of average fixed cost use to be live

(b) Rectangular hyperbola


III.

(c) None of the above


(d) U

Who has written the book wealth of nations?


(a) Marshall
(c) L. Robbins

(c) Positive

(b) Negative

(d) None of the above

13. True or false. (Each question carries 1 Marks) 1x5=5


I.
II.
III.
IV.

(a) >

(a) Zero

V.

According to Robbins, Micro and Macro Economics are


two main parts of pure Economics.
Economic theories are not exact like natural sciences.
The law of demand is Quantitative.
Indifference curve approach was propounded by
Marshall.
Geffen goods are also called as superior goods.

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