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  • EEM Assignment I

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    Sampat Kandukuri
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    The document discusses several economic concepts including elasticity of supply, the importance of economics in engineering, price elasticity of demand, elasticity of demand and factors governing it, the law of demand with examples of shifts in the demand curve versus movement along it, the origination of wants and the distinction between comforts and luxuries, economic utility for different groups, the law of diminishing marginal utility and its exceptions, the law of equi-marginal utility, and indifference curves.

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    The document discusses several economic concepts including elasticity of supply, the importance of economics in engineering, price elasticity of demand, elasticity of demand and factors governing it, the law of demand with examples of shifts in the demand curve versus movement along it, the origination of wants and the distinction between comforts and luxuries, economic utility for different groups, the law of diminishing marginal utility and its exceptions, the law of equi-marginal utility, and indifference curves.

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    © All Rights Reserved
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    6 views1 page

    EEM Assignment I

    Uploaded by

    Sampat Kandukuri
    The document discusses several economic concepts including elasticity of supply, the importance of economics in engineering, price elasticity of demand, elasticity of demand and factors governing it, the law of demand with examples of shifts in the demand curve versus movement along it, the origination of wants and the distinction between comforts and luxuries, economic utility for different groups, the law of diminishing marginal utility and its exceptions, the law of equi-marginal utility, and indifference curves.

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    © All Rights Reserved
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    1.

    Explain and enumerate the factors determining Elasticity of Supply


    2. Explain the importance and role of Economics in Engineering
    3. In 1999, the demand for electronic gadgets was 10 million per annum and the
    price was Rs. 200 each. In 2000, the price rose to Rs. 400 (because of latest
    technology), the demand fell to 8 million. Calculate Arc Edp. How do you
    interpret it? (Edp – Price Elasticity of Demand)
    4. What do you understand by elasticity of demand? Explain the factors
    governing it
    5. Explain the law of demand with illustration and Distinguish between the
    following.
    i) Shift in demand curve ii) Movement along a demand curve
    6. How do wants originate? Distinguish between comforts and luxuries
    7. Explain in Brief the economic utility with respect to householder,
    businessman, laborers and engineers.
    8. Explain the law of diminishing marginal utility with its exceptions.
    9. Write short note on (a) Law of Equi-Marginal utility (b) Indifference carvers.

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