| ST. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS) | ||||||||||||||||||||||||
| END SEMESTER EXAMINATION – SEPT/OCT. 2015 | ||||||||||||||||||||||||
| B.COM. (Regular) – I SEMESTER | ||||||||||||||||||||||||
| C1 15AR103: BUSINESS ECONOMICS -I | ||||||||||||||||||||||||
| Duration: 3 Hours Max. Marks: 100 | ||||||||||||||||||||||||
| SECTION – A | ||||||||||||||||||||||||
| I) | Answer ALL the questions. Each carries 2 marks. (10×2=20) | |||||||||||||||||||||||
| 1. | Briefly explain strategic goal of business with an example. | |||||||||||||||||||||||
| 2. | Define a Price line. | |||||||||||||||||||||||
| 3. | Explain the equi marginal principle(one commodity ) only with a diagram. | |||||||||||||||||||||||
| 4. | Explain the term Income Effect. | |||||||||||||||||||||||
| 5. | What are Iso cost curves? | |||||||||||||||||||||||
| 6. | Explain the term relatively elastic demand. | |||||||||||||||||||||||
| 7. | When is total output maximum? | |||||||||||||||||||||||
| 8. | State the difference between marginal and average cost? | |||||||||||||||||||||||
| 9. | What is meant by consumer sovereignty? | |||||||||||||||||||||||
| 10. | State any two internal economies to scale with suitable example. | |||||||||||||||||||||||
| SECTION – B | ||||||||||||||||||||||||
| II) | Answer any FOUR questions. Each carries 5 marks. (4×5=20) | |||||||||||||||||||||||
| 11. | With the help of a mathematical problem, state the concept of consumer surplus. | |||||||||||||||||||||||
| 12. | Products R and Z are close substitutes of one another, the sales of R for the month of April 2015 was 450 units priced at Rs. 100 and that of Z was 500 units priced at Rs. 95/-. For the month of may, the new price of R was 110 and sales 420 units and that of Z, the new price was 90 and sales 620 units. Find cross elasticity of R for Z. | |||||||||||||||||||||||
| 13. | What is meant by the total outlay method of calculating price elasticity? using the data below calculate the value of elasticity, according to Total Outlay Method.
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| 14. | State the usefulness of integrating micro and macro economics in day to day business activities of a firm. | |||||||||||||||||||||||
| 15. | Explain briefly the factors influencing supply of a commodity.
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| 16. | State the relationship between LAC and SAC curves and their economic significance in business. | |||||||||||||||||||||||
| SECTION – C | ||||||||||||||||||||||||
| III) | Answer any THREE questions. Each carries 15 marks. (3×15=45) | |||||||||||||||||||||||
| 17. | What are the various goals of Business. Briefly analyse each goal with a suitable live example | |||||||||||||||||||||||
| 18. | a. Explain price effect with a suitable figure.
b. Explain the law of diminishing marginal utility only with the help of figure. |
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| 19. | State the different degrees of price elasticity of demand through suitable diagrams | |||||||||||||||||||||||
| 20. | What are Indifference Curves? State their properties. | |||||||||||||||||||||||
| 21. | Explain the economically significant stage in the production process through the law of variable proportion | |||||||||||||||||||||||
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SECTION – D |
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| IV) | Case Study (1×15=15) | |||||||||||||||||||||||
| 22. | a. The short run costs of ABBs leather Unit in Bangalore which manufacture leather suitcases is as follows. Calculate TFC,TVC,AC,MC,AC,AVC and AFC.
b. The fixed cost for the year 2014 stood at Rs. 5000000 for their new unit at Kozhikode . Their per unit price was 7500 and AVC stood at Rs. 5000. Find BEP. |
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