28 Managerial economics and financial aCCOUNTANCY [JNTU-Kakinada]

Frequently Asked Questions & Important Questions

Q1. Define managerial economics. Explain the nature and scope of managerial economics.

REPEATED
Ans: (Oct./Nov.-16, Set-2, Q2(a) | Oct./Nov.-19, Set-2, Q2(a) | Oct./Nov.-19, Set-4, Q2(a) | Oct./Nov.-18, Set-2, Q2(a) 5
| Nov.-15, Set-2, Q2(a)) TIMES

For answer refer Unit-I, Q1.

Q2. Explain the role and responsibilities of managerial economist.

Ans: (Important Question |Oct./Nov.-17, Set-2, Q2(a))

For answer refer Unit-I, Q3.

Q3. State the relationship of managerial economics with other subjects.

REPEATED
Ans: (Oct./Nov.-19, Set-1, Q2(a) | Oct./Nov.-18, Set-3, Q2(b) | Oct./Nov.-16, Set-1, Q2(a))
3
TIMES
For answer refer Unit-I, Q5.
Q4. What do you mean by demand? Explain its determinants.

REPEATED
Ans: (Oct./Nov.-16, Set-3, Q2(a) | Nov.-15, Set-3, Q2(a) | Nov.-18, Set-2, Q2(b)) 3
TIMES
For answer refer Unit-I, Q6.
Q5. Define law of demand. What are its assumptions and exceptions?

REPEATED
Ans: (Oct./Nov.-16, Set-1, Q2(c) | Oct./Nov.-19, Set-4, Q2(b) | Nov.-15, Set-1, Q2(a)) 3
TIMES
For answer refer Unit-I, Q11.

Q6. Briefly explain elasticity of demand.

REPEATED
Ans: (Oct./Nov.-16, Set-2, Q2(c) | Oct./Nov.-19, Set-1, Q2(b) | Oct./Nov.-16, Set-1, Q2(b))
3
TIMES
For answer refer Unit-I, Q13.

Q7. Explain various types of Elasticity of Demand.

REPEATED
Ans: (Oct./Nov.-17, Set-2, Q2(b)| Oct./Nov.-16, Set-3, Q2(b) | Nov.-15, Set-2, Q2(b))
3
TIMES
For answer refer Unit-I, Q14.

Q8. Explain cross elasticity of demand.

REPEATED

Ans: (Oct./Nov.-18, Set-3, Q2(a) | Oct./Nov.-16, Set-4, Q2(c))

2
TIMES
For answer refer Unit-I, Q17.

Q9. What do you mean by promotional elasticity of Demand? List out the factors which effect the promotional
elasticity of demand. Explain how it is different from cross elasticity of demand.

Ans: (Important Question | Oct./Nov.-17, Set-4, Q2(b))

For answer refer Unit-I, Q19.

Q10. What is Demand Forecasting? Explain different methods of demand forecasting.

REPEATED

Ans: (Oct./Nov.-19, Set-2, Q2(b) | Oct./Nov.-16, Set-2, Q2(b) | Nov.-15, Set-1, Q2(b) | Oct./Nov.-17, Set-3, Q2(b)
6
TIMES
| Nov.-15, Set-4, Q2(b) |Oct./Nov.-19, Set-3, Q2(a))

For answer refer Unit-I, Q23.

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