Business economics is the study of financial, organizational, market-related, and environmental issues faced by corporations. Business economics involves study of scarcity, product factors, distribution, and consumption.
Questions and Answers
Question: What is Indifference Curve, explain with the help of diagram and also explain its properties.
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Question: Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity?
Question a: Two goods have a cross-price elasticity of demand of +1.2 (a) would you describe the goods as substitutes or complements? (b) If the price of one of the goods rises by 5 per cent, what will happen to the demand for the other good, holding other factors constant?
b. Calculate Marginal Utility and Average Utility from the information given in the below table:
Quantity Consumed, Total Utility -> 1, 20; 2, 35; 3, 47; 4, 55; 5; 60
Question: a) Define capitalism & the state the merits and demerits of capitalism b) Explain the role & importance of MNCs in global economy
Question: a) Explain the features & problems of American economy b) Write a detailed note on ‘Karl Marx’ and also state the importance of Karl Marx theories.
Question: a) Discuss the importance of second-generation reforms in the planning process in India b) What are the important instruments of monetary & fiscal policy to control conditions in an economy?
Question: (i) A demand recession is always reflective of bad times for the corporate sector. The current phase, according to many, has witnessed slowing down of economic activities, (a)What has caused this slowdown? (b) What are the chances of revival in near future? How? (ii) Discuss the existence of externalities with special reference to public goods.
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