Friday, July 19, 2019

B.Com First Year Question Papers (Distance): Business Economics' 2017


2017
(August)
COMMERCE
Paper: 105
(Business Economics)
Full Marks: 90
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. (A) Answer the following:                          1x10=10

1)         Mention one basic problem of economy.
2)         Write the mathematical formula for measuring cross elasticity of Demand.
3)         Draw a hypothetical iso-cost line.
4)         Point out one difference between short run average cost curve and long run average cost curve.
5)         Write one characteristic of a perfectly competitive market.
6)         Write one factor that determines supply of a commodity.
7)         Write the full form of MRTS.
8)         What is the name of the area covered by the ridgelines?
9)         Mention one difference between Economic rent and Quasi-rent.
10)      Who is profounder of Liquidity Preference theory of interest?
(B) Write short notes on: (any four)                    5x4=20
1)         Elasticity of Demand and its types.
2)         Laws of Returns to scale.
3)         Difference between Perfect Competition and Monopoly.
4)         Oligopoly and its types.
5)         Components of net profit.
6)         Marginal productivity theory.
2. (a) What is Business Economics? Discuss about its characteristics and scope.   2+5+5=12
Or
(b) Describe the different methods of measuring price elasticity of Demand.                                  12
3. (a) Describe the law of variable proportion with the help of suitable schedule and diagram.     12
Or
(b) What is iso-quant? Explain with the help of iso-quant and iso-cost lines how a producer achieves optimum combination of factors.            4+8=12
4. (a) Explain how a business firm under perfectly competitive market can achieve short-run equilibrium.       12
Or
(b) Elaborately write a note on different types of ‘Market Structure’?         12
5. (a) Explain how wage rate is determined under perfectly competition in the short run.      12
Or
(b) Critically examine the Ricardian theory of rent.             12
6. (a) Discuss Loan able Fund Theory of Interest. Point out its weakness.        8+4=12
Or
(b) “Profit is the reward for bearing Uncertainty”. – Discuss the statement.        12

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