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- IMPORTANT QUESTIONS OF BUSINESS ECONOMICS (COURSE NO. 502) FOR M COM OF FEDERAL URDU UNIVERSITY ART, SCIENCE & COMMERCE PAKISTAN BY AHSAN KHAN
Posted by : Ahsan Khan Tuesday, 19 February 2013
IMPORTANT QUESTIONS OF BUSINESS ECONOMICS
(COURSE NO. 502) FOR M COM
OF FEDERAL URDU UNIVERSITY ART, SCIENCE & COMMERCE PAKISTAN
RECOMMENDED BOOK: MANAGERIAL ECONOMICS (2012-13) AUTHOR: AHSAN KHAN
I) Managerial Economics – Nature, Scope and Concepts:
- Define managerial economics. Discuss its nature, subject matter, scope and importance detail.
- Give appropriate definitions of managerial economics. Also explain its basic characteristics and its economic analysis.
- Define managerial economics. Differentiate between managerial economics and other disciplines.
- Discuss the role of managerial economist in detail.
II) Demand Analysis:
- Explain the Law of Demand with its Assumptions and function. Also illustrate it by Schedule and Graph?
- Differentiate between individual and market demand with its determinants.
- Differentiate between Movement and Shift in Demand through table and diagram.
- Explain the Concept of Elasticity of Demand. How the Elasticity of Demand is measured? Also explain its determinants or factors.
- What are the Income, Price and Cross of Elasticities of Demand? Discuss theoretically and mathematically.
- Define demand forecasting. Discuss various methods of demand forecasting.
III) Supply Analysis:
- Explain the Law of supply with its Assumptions and determinants. Also illustrate it by Schedule and Graph?
- Differentiate between Movement and Shift in Supply through table and diagram.
- Explain the market equilibrium through demand and supply diagrammatically in case of durable and perishable goods. Also show effects of change in demand and supply on market equilibrium.
IV) Production Function:
- Explain the law of diminishing (marginal) return with the help of schedule and diagram?
- Explain the law of increasing (marginal) return with the help of schedule and diagram?
- Explain the law of constant (marginal) return with the help of schedule and diagram?
- Explain the law of variable proportion with the help of schedule and diagram?
- What are the short and long run Production Functions? Give the importance of production function in managerial decision making.
- What are Iso Quant curves? Discuss its major properties.
- Explain the Firm’s or Producer’s equilibrium through IQ analysis. OR Discuss the Optimal Combination of Resources in case of production maximization or cost minimization.
- Write a detailed note on production possibility curve or production possibility frontier.
V) Costs Analysis:
- Discuss various types of Cost faced by a manager during managerial decision making process. Also discuss relevance of the shape of costs.
- Explain and Illustrate the Cost Curves of the firm in the Short Run and Long Run?
- Define and explain the in detail Economies of Scale and Economies of Scope.
- Discuss in detail break even analysis. What is link between Production and Costs?
VI) Revenue Analysis:
- Discuss various types of revenues under perfect competition and imperfect competition.
- Explain profitability and optimum production level with the help of MR & MC and TR & TC.
VII) International Trade and Economics:
- Discuss in detail the comparative advantage theory given by David Ricardo with its assumptions, determinants and limitations. Also give diagrammatically and mathematical explanation.
- Discuss in detail the absolute advantage theory given by Adam Smith with its assumptions, determinants and limitations. Also give diagrammatically and mathematical explanation.
VIII) Macro Economics:
- Define National Income and Discuss the Various Concepts of National Income?
- What are the Methods of Measuring/Accounting National Income? Also describes its various difficulties.
- What is macroeconomics? Discuss its major issues with respect to Pakistan.
- What is business cycle? Discuss it phases and various theories.
- Define and explain the concepts of investment multiplier and acceleration. Also express it graphically and numerically.
- What is unemployment? Discuss its types, causes and measures.
- What is inflation? What are its types, effects and causes?
Note: Bolded questions are more important.