VNSGU B.B.A Semester 1 Managerial Economics - I February 2021 Question Paper

RAN-1808000401070001

BBA (Sem. - I) Examination

February - 2021

Managerial Economics - I

(Old Course)

Instructions:

1. Fill up strictly the details of signs on your answer book

Name of the Examination: BBA (Sem. - I)

Name of the Subject : Managerial Economics - I (Old Course)

Subject Code No.: 1808000401070001

(2) All questions are compulsory. 

(3) Figures to the right indicate full marks of each question. 

(4) Answer should be to the point and legible. 

 (5) Draw the diagram wherever necessary. 

(6) Clearly indicate the options you attempt

Q-1 Answer in brief: 10

1) Mention any two functions of profit.

2) State the definition of managerial economics given by Spencer and Siegelman.

3) What is discounting principle? 

4) What are innovations? What is the difference between invention and innovation?

5) What is Price leadership

Q-2 “The purpose of managerial economics is to show how economic analysis can be used in formulating business policies.” Amplify this statement. 13

OR

Q-2 Explain in detail the decision making model. What do you mean by forward planning. 13

Q-3 What do you mean by perfect competition? Discuss with diagram the short-run and long-run equilibrium of a firm in a perfectly competitive market. 13

OR

Q-3 Explain and critically examine FH Knight’s theory of profit. 13

Q-4 Write short notes: (Any Two) 14

(1) Profit policy

(2) Kinked demand curve

(3) Price discrimination

(4) Role and responsibilities of a managerial economist