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 supplie
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