University of Calicut B.Com / BBA 1st Sem MANAGERIAL ECONOMICS Nov 2018 Question Paper

University / Exam Board: University of Calicut

FIRST SEMESTER B.Com./B.B.A. DEGREE EXAMINATION, NOVEMBER 2018

(CUCBCSS—UG) 

Complementary Course 

BCM 1C 01—MANAGERIAL ECONOMICS 

(2017 Admissions) 

Time : Three Hours 

Maximum : 80 Marks 

Part A 

Answer all the questions. 

Each question carries 1 mark. 

1. The law which implies that a person demands more at a lower price and less at a higher price is known as  ________________.

2. The technique of forecasting demand based on the opinions of the experts is known as _____________ 

3. In personal price discrimination, different prices are charged to different _____________

4. The unemployment which occurs due to mismatch between the jobs that are available and the skills of workers who are seeking jobs is called ___________

5. The earnings that might have been obtained from forgone choices or opportunities is called as  ________________

6. Giffen Paradox is an exception to :

(A) Law of diminishing marginal utility. 

(B) Law of demand. 

(C) Law of returns to scale. 

(D) Law of supply. 

7. Among the following which is not a determinant of advertisement elasticity of demand ? 

(A) Growth of substitutes. 

(B) Effectiveness of competing firm's advertisement. 

(C) Level of production. 

(D) Level of total sales. 

8. Which is a characteristic of oligopoly : 

(A) One seller. 

(B) No transportation cost. 

(C) Homogenous product. 

(D) Interdependence. 

9. The market condition in there are only two sellers is called : 

(A) Monopoly. (C) Monopsony. 

(B) Duopoly. (D) Perfect competition. 

10. Among the following which is not a reason for law of Demand : 

(A) Diminishing marginal utility. (B) Income effect. 

(C) Substitution effect. (D) Production function.                                       (10 x 1 = 10 marks)

Part B 

Answer any eight questions.

Each question carries 2 marks.  

11. What are the characteristics of managerial economics ? 

12. What is shown by an Isoquant Curve ? 

13. What is dumping ? 

14. How 'Opinion poll approach' is used in demand forecasting ? 

15. What do you understand by the term economies of scale ? 

16. What are IPRs ? 

17. Write any two causes for the operation of the Law of Diminishing returns. 

18. Give welfare definition of economics. 

19. Which are the types of unemployments ? 

20. What are explicit costs ?                                   (8x2=16 marks)

Part C 

Answer any six questions. 

Each question carries 4 marks. 

21. Distinguish between economics and managerial economics

22. What are the assumptions of Law of Diminishing returns. 

23. What are the purposes of short term demand forecasting ? 

24. Which are the types of inflation ?

25. What are advantages of price leadership ? 

26. Distinguish between cost reduction and cost control. 

27. What are the characteristics of perfect competition ? 

28. Briefly explain the role of managerial economics.            (6x4=24 marks) 

Part D

Answer any two questions. Each question carries 15 marks. 

29. Bring out meaning and characteristics of monopoly. What are its causes for monopoly? How prices determined under monopoly ? 

30. What are problems faced by Indian Economy ? 

31. Explain the meaning and degrees of price elasticity of demand. Which are the factors affecting it ?                                                                                                                                                                                                                                                                                    (2 x 15 = 30 marks) 

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