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FIRST YEAR B.COM BUSINESS ECONOMICS ( ENGLISH MEDIUM )


                         BUSINESS ECONOMICS

UNIT 1

1.     DEFINE BUSINESS ECONOMICS . DISCUSS THE FEATURES OF BUSINESS ECONOMICS . WHAT IS THE ROLE OF BUSINESS ECONOMICS IN BUSINESS DECISION ?
2.       EXPLAIN THE FOLLOWING :-
A.     PROCESS OF BUSINESS DECISION
B.      TYPES OF BUSINESS DECISION
C.      MARKET VS BUSINESS COORDINATION

UNIT 2.

1.      WHAT DO YOU UNDERSTAND BY THE LAW OF DIMISHING MARGINIAL UTILITY ? EXPLAIN IN DETAIL WITH THE HELP OF SUITABLE DIAGRAMS AND EXAMPLES .
2.      WHAT IS ELASTICITY OF DEMAND ? HOW IT IS MEASURED ?  WHAT IS THE DIFFERENCE BETWEEN LAW OF DEMAND AND ELASTICITY OF DEMAND ?
3.      WHAT DO YOU UNDERSTAND BY CONSUMER’S SURPLUS ? HOW IS IT MEASURES ? EXPLAIN.
4.      EXPLAIN THE FOLLOWING :-
A.       MARGINIAL AND TOTAL UTILITY
B.      CONSUMER EQUILIBRIUM USING TOTAL COST CURVE

UNIT 3.

1.      EXPLAIN LAW OF DIMINISHING RETURN ? GIVE ITS LIMITATIONS . ALSO EXPLAIN THE PRODUCER’S EQUILIBRIUM  WITH THE HELP OF PRODUCTION CURVE .
2.      WHAT DO YOU UNDERSTAND BY COST ? WHAT ARE THE MAIN DETERMINANTS OF COST ?
3.       DISCUSS THE RELATIONSHIP BETWEEN :-
A.     AVERAGE COST AND MARGINIAL COST
B.      TOTAL REVENUE , AVERAGE REVENUE AND MARGINAL REVENUE
UNIT 4.

1.      EXPLAIN THE DETERMINATION OF PRICE AND OUTPUT BY A FIRM UNDER :-  

                                                  A. PERFECT COMPETITION
                                    B    IMPERFECT COMPETITON
                                    C    MONOPOLY AND OLIGOPOLY
                                        D    MONOPOLISTIC COMPETITION
2.      DEFINE MONOPSONY AND BILLATERAL MONOPOLY ? HOW IS PRICE DETERMINES IN THESE MARKETS ? ( MOST IMPORTANT )

UNIT 5.

1.      EXPLAIN THE RELATIONSHIP BETWEEN NATIONAL INCOME AND ECONOMIC WELFARE .  CAN NATIONAL INCOME BE TAKEN AS A SATISFACTORY INDEX OF ECONOMIC WELFARE OF THE COUNTRY ?
2.      EXPLAIN THE FOLLOWING TERMS :-
A.     THEORY OF RENT
B.      THEORY OF PROFIT
C.      THEORY OF INTEREST
D.     THEORY OF DISTRIBUTION
E.      DIFFERENT STAGES AND CAUSES OF BUSINESS CYCLE. 

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