Important questions for Economics for managers

Module 1.
Important Questions to concentrate:
Q1. Discuss the central problems of the economics?
Q2. What is the difference between micro and macro economics?
Q3. What is the significance and applicability of managerial economics in decision making?
Q4. Write short notes on :
a)Opportunity cost
b)Marginal cost
c)Equi marginal cost
d)Risk and uncertainty.
5) What is opportunity cost explain with production possibility curve?
6) productive efficiency Vs Economic Efficiency
7) Positive Vs Negative Externalities?

Module 2.
Q1. What is demand forecasting? Mention various methods of demand forecasting?
Q2. What do you mean by elasticity of demand briefly explain the types of elasticity?
Q3. Distinguish between increase in demand and extension of demand?
Q4. Explain cardinal utility theory?
Q5. Write short notes on Budget Line and budget set with examples?
Q6. Explain any five properties of indifference curves?
Q7. Explain the law of diminishing marginal utility with a schedule an diagram?
Q8.Explain the indifference curve and indifference map with example?
Q9. Explain Movement along the supply curve and shift in supply curve?

Module 3.
Q1. State and illustrate Cobb-Douglas production function
Q2. Explain the Economies of scale?
Q3. Using Iso quants and ISO cost, how least cost combination is determined?
Q4. Discuss the law of return to scale with the help of suitable example?
Q5. Distinguish between laws or return to variable proportions and laws of return to scale.
Explain the factors which cause increasing return and diminishing return to scale.
Q6. Define isoquants. What are the different types of isoquants?
Q7. What do you mean by cost? Describe classification of cost and explain the relation
between average cost and marginal cost?
Q8. Examine the cost output relationship in long-run? Why is long-run average cost curve
‘U’ shaped?
Q9. BEP ( Note please refer BEP PDF sent)

Module 4:
Q1. Define price determination and equilibrium of the firm and industry in short run?
Q2. What are the main features of perfect competition? How does a firm adjust its price in
a perfectly competitive market?
Q3. Discuss the method of cost plus-pricing and state its limitation. Enumerate the cases
where it is found to be suitable?
Q4. Explain the concept of price discrimination. What are the three degrees of price
discrimination?
Q5. What are the main features of monopoly and how does it differ from perfect
competition?
Q6. Explain the Static and Dynamic game theory?
Q7. Explain the degrees of Price discrimination?
Q8. Discuss the meaning and main features of monopolistic market sitation?

Module 5:

Q1. What are the main features of national income?

Q2. What are the different phases of business cycle?
Q3. Explain the various measurements methods of national income?
Q4. Explain the meaning and assumption of multiplier?
Q5. Explain the types of inflation and what are the effect of inflation?
Q6. Explain the Keynesian theory of employment?
Q7. Explain circular flow of macro-economic activity in three sector economy?
Q8. Explain the business environment in detail?

Module 6.

Q1. Explain in detail the New Industrial Policy?

Q2. Briefly discuss the growth and problems faced by the private sector?
Q3. Significance of SME’s in Indian Economy?
Q4. Write short notes on:

a) Fiscal policy
b) Monetary policy
c) Foreign trade.
Q5. Explain the impact of WTO on Indian foreign trade?