Assignment No 1

Year & Semester II &Semester III

Subject
HS 200 BUSINESS ECONOMICS
Date of Issue 07-09-2019

Date of Submission 16-09-2019

Date of Return 19—9-2019

Q.
Questions Marks CO Level
No
a. What is Business Economics? How does it differ 10 1 2
1 from Economics?
b. Explain its role and relevance in business
decision making.
c. What is meant by scarcity and choice?
What is marginal utility? Suppose a consumer 10 1 2
2 consumes more and more apples. What happens to his
marginal utility and total utility? Substantiate your
answer with the help of a schedule and diagram.
3 Draw a production possibility frontier between two 1 2
10
goods, say Good Y, measured on the vertical axis,
and Good X, measured on the horizontal axis.
Illustrate scarcity, choice and opportunity cost from
the bowed out (concave) PPC.