I Sem B.com - Business Economics Question Paper 2005

Ist Sem B.com Examination Nov/Dec - 2005
COMMERCE
Business Economics - I

Time: 3 Hrs.                                        Max. Marks:90

Section - A

1. Answer any Ten sub-questions. Each sub-question carries 2 marks  (10x2=20)

    a) What is business operation ?
    b) What is business economics ?
    c) What is consumption ?
    d) What is total utility ?
    e) State the law of demand.
    f) What is a budget line ?
    g) What is meant by elasticity of supply ?
    h) Give an imaginary indifference schedule.
    i) Diagrammatically represent increase in supply and contraction of supply.
    j) What is production function ?
    k) What is ISO Cost curves ?
    l) What is real cost ?

Section - B

Answer any Five of the following. Each question carries 5 marks (5x5=25)

2. A manufacturer incurs a total fixed cost of Rs. 400 to produce 6 units of the product. The marginal cost is as follows:

Output      1           2          3       4        5          6
M.C.        220      100      70      85     145      250

Find out total cost, variable cost, average cost, average variable cost and average fixed cost.

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