FYBCOM Sem I Model Questions Unit I & II

MODEL QUESTIONS                                   F Y B COM

                                                                         Semester I

UNIT NO 1

1.                                   1.       Define the business economics? discuss its scope

2.       Explain the concept of opportunity cost

3.       Explain the concept of marginalism and incrementalism

4.       What is the difference between marginalism and incrementalizm

5.       Explain the individual and market demand

6.       Write the meaning of demand and its determinants

7.       Explain the shift in demand( Increase in Demand and Increase in Supply, Decrease in Demand and Decrease in Supply)

8.       Explain the Contraction  in Demand and Contraction  in Supply, Expansion  in Demand and Expansion  in Supply)

9.       Given the demand and supply equations, Dx= 150-20Px and Sx= -30+50Px

Find i) equilibrium price ii) equilibrium quantities demanded iii) equilibrium quantities supplied

10.    Given the demand and supply equations, Dx= 200-5Px and Sx= -250+10Px

Find i) equilibrium price ii) equilibrium quantities demanded iii) equilibrium quantities supplied

11.    From the equation : Qd = 1000-20Px; work out the quantity demanded for price Px= 5, 10, 20

12.    If Qdx = 150- 5px describes demand for Rice. Complete the following table for Px = 50, 60, 70, 80. Show your working.

13.    Given the following Data for Demand and Supply of Note Book

Price	Quantity Demanded	Quantity Supplied
120	55	30
150	45	45
170	35	49
190	25	55

                                i)              find equilibrium price

                                ii)             Equilibrium Demanded and Supplied

14.    Derive Demand Schedule when demand function is given Qdx = 60-0.7Px and Price is 0,1,2,3,4,5,6,7

15.    Derive Supply Schedule when supply function is given Qsx = -10+10Px and Price is 0,1,2,3,4,5,6,7

UNIT NO 2

1.       Explain the concept of Demand function

2.       Give the numerical explanation of demand function for price

3.       Explain the nature of demand curve under deferent market (under perfect competition, under monopoly, under monopolistic competition and under oligopoly)

4.       Give the meaning & measurement of price elasticity of demand

5.       Explain the cross elasticity of demand

6.       Explain the income elasticity of demand

7.       Explain the promotional elasticity of demand

8.       Write the significance (importance) of elasticity of demand

9.       Discuss the types of elasticity of demand ( for this answer write meaning of price, cross, income, promotional elastic of demand in short)

10.       Write the relationship between price elasticity of demand and total revenue

11.       Write the relationship between price elasticity of demand and average and marginal revenue

12.    Write the meaning and significance of demand forecasting

13.    Write the  types of demand forecasting

14.    Steps  in demand forecasting

15.    Explain the survey method of demand forecasting (for this answer write the Expert’s opinion survey, Delphi method)

16.    Explain the trend method of demand forecasting

17.    Explain the regression  method of demand forecasting

18.    If the demand function is given as Qdx = 100-10Px . Future price is Px = 20, what would be your forecast of quantity demanded?

19.    The Demand for commodity X is given by Qx = 20-5 Px. Find

a)    Demand schedule for price ranging from 1.00 to 4.00

b)    Calculate price elasticity when price changes from 2.00 to 3.00

c)     Calculate price elasticity when price changes from 3.00 to 2.00

20.    When the price of certain brand of jeans is Rs. 800, annual revenues are Rs. 640,000. When the price falls to Rs.700, annual revenue decline to 630,000.

i)      Calculate the elasticity of demand in this price range

                                    ii)             Comment whether the demand is relatively elastic, Unit –Elastic of relatively inelastic