Business Economics -I

St. Joseph’s College of Commerce B.Com. 2013 I Sem Business Economics I Question Paper PDF Download

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ST. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS)
END SEMESTER EXAMINATIONS – OCTOBER 2013
BCOM – I SEMESTER
BUSINESS ECONOMICS – I
Time: 3 Hrs Max Marks: 100
SECTION – A
I) Answer ALL questions. Each carries 2 marks. (10 x 2 = 20)
1. Explain the term Market demand.
2. State the difference between a substitute and complementary good.
3. What is meant by Marginal utility?
4. Explain the concept of consumer surplus.
5. State the difference between contraction of demand and decrease of demand
6. What are Isoquant curves?
7. What are technical economies?
8. Explain Indifference map.
9. What is an opportunity cost? Give an example.
10. Explain the law of supply with a supply schedule.
Section – B
II) Answer any FOUR of the following questions. (4 x 5 = 20)
11. What is elasticity of demand? Calculate the price elasticity for the data given
below. .
Price Qty demanded.
25 35(kg)
28 32(Kg)
12. Explain TC, TVC, TFC, AC and MC with a mathematical table.
13. Explain the law of Equi marginality utility (one commodity) with the help of a
diagram.
14. With the help of the data below calculate the demand forecast for each of the
years and for the year 2013 and 2014.
Year 2008 2009 2010 2011 2012
Production(tons) 240 286 314 500 700
15. Explain the three important goals of business with suitable examples.
16. Explain the substitution effect with the help of a diagram.
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SECTION – C
III) Answer any THREE out of FIVE questions. (3 x 15 = 45)
17. Explain the different degrees of price elasticity of demand.
18. Critically analyze the law of diminishing marginal utility.
19. State the meaning of a monopoly. Explain the price and output determination of
a monopoly firm
20. Explain producers Equilibrium with the help of a figure.
21. Explain the law of Variable Proportion with the help of a figure and table.
Section – D
IV) Case study – Compulsory question. (1 x 15 = 15)
22.
Timber and Co
Mr Timb has been running the Timbco furniture Co for the last 10 years in Tumkur. The
motive of starting timbco was to turn his teak estate in to secondary state of manufacturing
different types of wooden furniture from the wood drawn from his farm land. Timbco has been
very famous in the manufacture of computer tables, let alone their production of almirahs,
chairs , dining tableas among others. Their computer tables are mostly sold in Tamilnadu and
Gujarat. For the month of July 2013 their sales in T.N was 2500 tables @ Rs 3000 a table and in
Gujarat the sales was 2000 tables @ the rate of Rs 3400 a table. Timb wanted to change the price
in both states as the price of raw material increased. In T.N. he increased to Rs. 3200 and sales
came down to Rs. 2100 and in Gujarat he increased the prices of the same tables to 3500 but the
sales decreased to Rs. 1900.
Questions:
a. Find the cross elasticity between sales in Tamilnadu to Gujarat.
b. Find the breakeven and profits between Tamilnadu and Gujarat with the data of tables
given below
• Tamilnadu- the TFC incurred is Rs 200000/-, the AVC is Rs2000, price is Rs 3000 find
BEP and profits at 5000 units
• Gujarat- the TFC is Rs 200000/- , the AVC is Rs 2700, price is Rs 3100 find BEP and
Profits at 5000 units

St. Joseph’s College of Commerce B.Com. 2014 I Sem Business Economics – I Question Paper PDF Download

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  1. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS)

END SEMESTER EXAMINATION – OCTOBER 2014

BCOM– I SEMESTER

 BUSINESS ECONOMICS – I

Duration: 3 Hours                                                                                       Max. Marks: 100

 

SECTION – A

 

  1. Answer ALL the questions. Each carries 2 marks.                                        (10 x2 =20)

 

  1. Differentiate between Micro and Macro Economics.
  2. What is Veblen Effect?
  3. Show the relationship between total utility and marginal utility with the help of a figure.
  4. Explain the concept of Elasticity of supply.
  5. Mention any two limitations of Consumers Surplus.
  6. Define opportunity cost.
  7. Give any four determinants of supply.
  8. What do you mean by a budget line?
  9. Write the formula for cross elasticity of demand.
  10. What are giffin goods? Give an example.

 

SECTION – B

  1. Answer any FOUR Each carries 5 marks.                                (4×5=20)                          

 

  1. Who is a business economist? Discuss the role of a Business economist in a firm.

 

  1. Based on the following examples, identify the economic concept and state the concept:
  2. A consumer is willing to pay a higher price for a good
  3. A family allocates equal weightage to different requirements.
  4. We tend to copy our affluent neighbors.
  5. After a certain time, without any change, land yields lesser returns.
  6. We decide to build a school instead of a shopping mall.

 

  1. Define Indifference Curves. Explain how the consumer reaches equilibrium with the help of Indifference Curves.
  2. Define Price Elasticity of Demand. Calculate and diagrammatically represent Price Elasticity of Demand by total outlay method with the help of the following data.
Situation Price per unit (in Rs) Quantity Demanded (in units)
a 18.00 500
  16.00 650
  14.00 850
b 12.00 650
  10.00 750
  8.00 900
c 6.00 1200
  4.00 1800
  2.00 3600

 

 

  1. Explain the Law of Variable Proportions. Do you think it is applicable in real life?

 

  1. Suppose, if there is a labour problem in a garment factory, the supply of garments in the market will be reduced. If this happens during the festive season, there will be a simultaneous increase in demand and decrease in supply. How will this affect the readymade garments market? Analyze this situation.

 

SECTION – C

III)      Answer any THREE questions.    Each carries 15 marks.                    (3×15=45)

 

  1. Define demand forecasting. Discuss various methods of demand forecasting.

 

  1. Explain the Law of Equi-Marginal Utility with the help of suitable table and diagram. Also state its importance and limitations.

 

  1. Discuss the various economies and diseconomies of scale that a large scale business experiences.

 

  1. Describe the behavior of cost curves in the short run. Use tables and diagrams to explain your answer.

 

  1. What are indifference curves? Discuss the properties of indifference curves with the help of examples.

 

SECTION – D

  1. IV) Case study- Compulsory question. (15 marks)

 

  1. Using the following data calculate TFC, TVC, AFC, AVC, AC and marginal cost. Also plot the values that you have calculated.
Output in units 0 10 20 30 40 50 60
Total Cost

(in Rs)

 400 480 550 590 620 650 730

 

 

 

                               

 

St. Joseph’s College of Commerce 2015 Business Economics -I Question Paper PDF Download

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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.

Price Quantity demanded
2 8
5 10
6 12
2 20
5 6
6 4
2 30
5 12
6 10
  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.

 

 

 
  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.
  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
 

SECTION – D
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.

 

Output Total Cost
0 80
10 200
20 260
30 300
40 320
50 340
60 370
70 420
80 550
   

 

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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