NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Business Economics
Internal Assignment Applicable for December 2019 Examination
Assignment Marks: 30

Instructions:

• All Questions carry equal marks.

• All Questions are compulsory
• All answers to be explained in not more than 1000 words for question 1 and 2 and for question
3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far
as possible.
• All answers to be written individually. Discussion and group work is not advisable.
• Students are free to refer to any books/reference material/website/internet for attempting
their assignments, but are not allowed to copy the matter as it is from the source of reference.

• Students should write the assignment in their own words. Copying of assignments from other
students is not allowed.

• Students should follow the following parameter for answering the assignment questions.

For Theoretical Answer For Numerical Answer

Assessment Parameter Weightage Assessment Parameter Weightage
Introduction 20% Understanding and usage 20%
Concepts and Application 60% of the formula
related to the question Procedure / Steps 50%
Conclusion 20% Correct Answer & 30%
Interpretation
 NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Business Economics
Internal Assignment Applicable for December 2019 Examination
1. Calculate the following: (10 Marks)

Quantity Total Fixed Total Variable Total Average Marginal

Cost Cost Cost Cost Cost

25 10 18 ? ? ?
26 10 20 ? ? ?
27 10 21 ? ? ?

2. “Determinant of demand are the important factor which influences the decision of the
consumers to purchase commodity or a service”
With respect to the above statement discuss any 5 determinants of the individual demand.
(10 Marks)

3
a. Suppose the monthly income of an individual increases from Rs. 10,000 to Rs. 15,000
which increases his demand for clothes from 20 units to 25 units. Calculate the income
elasticity of demand and interpret the result. (5 Marks)

b. Quantity demanded for tea has increased from 100 to 160 units with an increase in the price
of the coffee powder from Rs. 40 to Rs. 50. Calculate the cross elasticity of demand between
tea and coffee and explain the relationship between the goods. (5 Marks)

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