DEPARTMENT OF MANAGEMENT SCIENCES

QUIZ # 1
Class/Semester: BBA 1st Course Title: Micro Economics
Total Marks: 10 Time: 20 Minutes

1. Define the concept of Positive Economics and Normative Economics with the help of example. (2)

2. Define the concept of Scarcity, Choice and Opportunity Cost graphically. (6)

3. Explain these terms. (2)

a. Macro Economics

b. Production Possibility Frontier

 DEPARTMENT OF MANAGEMENT SCIENCES
QUIZ # 2
Class/Semester: BBA 1st Course Title: Micro Economics
Total Marks: 10 Time: 20 Minutes

1. Differentiate between Quantity Supply and Supply. (3)

2. What is Demand and how many types of changes occur in Demand Analysis. (3)

3. Suppose the Supply of Automobile Industry, if there decline in the number of sellers in the industry , how Supply
analysis will change. (4)
 DEPARTMENT OF MANAGEMENT SCIENCES
QUIZ # 1
Class/Semester: BBA 1st Course Title: Micro Economics
Total Marks: 10 Time: 20 Minutes

1. Differentiate between short run Production function and long run Production function. (3)

2. How input decision can be taken by producer in short run production. (4)

3. Explain short run cost categories and how they are related to short run production. (5)

4. Explain the relationship between long run production and long run cost theories, explain the answer with the help
of examples. (5)