B.Com First Year Question Papers (Distance): Business Economics' 2013

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
a)         Name one of the methods of measuring price elasticity of demand.
b)         Mention one of the exceptions of the law of development.
c)          Name the four factors of production.
d)         Write one factor which determines supply of labour.
e)         Write one objectives of the business firm.
f)          Write one of the differences between monopoly market and perfect competition market.
g)         Write one of the features of oligopoly market.
h)         What do you mean by price leadership?
i)           Mention one of the main reasons of labour exploitation.
j)           Who is the profounder of risk bearing theory of Profit?
(B) Write short notes on any four:                          5x4=20
a)         Income elasticity of demand.
b)         Expansion Path.
c)          Kinked Demand Curve Model.
d)         Quasi-rent.
e)         Perfect Competition Market.
2. (a) What do you mean by ‘Business Economics’? Discuss in detail the basic problems of an economic system.     6+9=15
(b) Discuss the factors which determine the elasticity of demand.              15
3. (a) Explain the various economies and diseconomies of large-scale production.   7.5+7.5=15                          
(b) What is ‘production function’? Explain the law of variable proportions with the help of diagrams.   6+9=15
4. (a) Discuss the various phases or steps of business decision making process.                                  15
(b) How does a business man fix his equilibrium price in monopoly market? Explain with the help of a diagram.       15
5. (a) Critically examine the Ricardian theory of rent.                                                                                       15
(b) Discuss the Marginal Productivity Theory of wages.                                                                              15


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