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Tuesday, December 29, 2015

Madras University Question Paper,Subject Code :PXR,Subject :BUSINESS ECONOMICS

Madras University Question Paper
Subject :BUSINESS ECONOMICS
Subject Code :PXR
OCTOBER 2011 U/ID 5229/PXR
Time : Three hours Maximum : 100 marks
SECTION A — (10 × 3 = 30 marks)
Answer ALL questions.
All questions carry equal marks.
1. (a) What is meant by profit maximisation?
 (b) What do you mean by social responsibility of
business?
 (c) Define the concept of elasticity of demand.
 (d) What is division of labour?
  (e) Define marginal rate of substitution.
  (f) State the Break-even point.
  (g) What is oligopoly?
 (h) Define selling cost.
 (i) Define national income.
 (j) Name three public utilities.
SECTION B — (5 × 6 = 30 marks)
Answer any FIVE questions.
All questions carry equal marks.
2. Explain the various objectives of a firm.
3. State and explain the law of demand.
4. Describe the functions of an entrepreneur.
5. Discuss the properties of indifference curve.
6. How is price determined under monopoly?
7. State the industrial policy of 1948.
8. What are the methods used in the computation of
National Income?
SECTION C — (2 × 20 = 40 marks)
Answer BOTH questions.
All questions carry equal marks.
9. (a) Explain the law of diminishing returns.
Or
 (b) Explain and illustrate the uses of Break-even
analysis.
 10. (a) How is price determined under perfect
competition?
 Or
 (b) Describe the contribution of any one Nobel
Prize winners in economics.

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