No. of Printed Pages : 02 18C5 B. Tech. EXAMINATION, 2021 (Third Semester) (C Scheme) (Main Only) (Common for all Branches) ENGINEERING ECONOMICS MGT201C Time : 2% Hours] [Main Marks : 75 Before answering the question-paper candidates should ensure that they have been supplied to correct and complete question-paper. No complaint, in this regard, will be entertained after the examination, Note ; Attempt ‘our questions in all, All questions carry equal marks. 1. Elucidate the relationship between science, engineering technology and economics 2. Explain the concept of utility. State and explain the law of diminishing marginal utility with its practical importance and applications 3. What is demand curve ? Why does the demand curve slop downwards to the right ? Are any exceptions ? Explain. 4. Define elasticity of demand. Describe the methods of its measurement. 5, What are the main forms of a market ? Illustrate the main features of a perfectly competitive market. (5)421)M-18C5 1 P.T.O.6. (a) Discuss the importance of various factors of production, Use relevant examples. (b) What is law of return to scale ? Discuss its importance. 7. Discuss the nature and characteristics of Indian econor 8. Write notes on the following in detail (a) Globalization {b) Role of demand and Supply in price determination. (5A21)M-18C5 2 20