(Please write your Exam Roll No.) Exam Roll No. ………………………..

END TERM EXAMINATION

FIRST SEMESTER [BBA (MOM)] JANUARY-2010
Paper Code: BBA (MOM) 103 Subject: Business Economics-I

Time: 3 Hours Maximum Marks: 75

Note: Attempt any five questions. All questions carry equal marks.

Q1. Write short notes on any three of the following:-

(a) Opportunity Cost
(b) Incremental Cost
(c) Methods of Demand Forecasting
(d) Explicit and Implicit Cost
(e) Economies of Scale

Q2. Discuss the nature and scope of Economics in context of business decisions.

Q3. What is Price Elasticity of Demand? Discuss different types of price elasticity of demand with
suitable examples.

Q4. Explain the Law Diminishing Marginal Utility. Discuss the importance and limitations of this law.

Q5. What is an Isoquant Curve? Explain the law of Returns to Scale with the help of isoquants.

Q6. Discuss short run Production function. Explain the significance of Law of Variable Proportions in
managerial decision making.

Q7. What is Perfect Competition? Discuss short run and long run firm’s equilibrium under perfect
competition.

Q8. Discuss the features of Monopolistic Competition. How is pricing under Monopolistic
Competition is done?

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