Assignment No. 1

Programme Name : MBA Semester: I Credit: 3
Course Title : MANAGERIAL ECONOMICS Course Code: MBA601
Submitted Date: Last date of Submission:
Max. Marks: 30 Weight age: 15 Marks
Instructions:
 Sec-A is compulsory which consists of 10 Multiple Choice Questions (1 mark per question)
 Attempt any five questions from Sec-B out of Seven questions (4 marks each)

Section –A (10 Marks)

1. Economics is a ____________
.
(a) social science (b) natural science
(c) human science (d) global science

6. 6. Giffen goods are named to honour
(a) Sir Robert Giffen (b) Hicks
(c) Marshall (d) Robertson

2. Marginal Utility is the
(a) Ever lasting utility (b) Extra utility
(c) Zen utiltiy (d) All the above

7. Indifference curve technique represents
(a) Ordinal measurement (b) Cardinal measurement of
utility of utility
(c) Concrete terminology (d) Numerical expression

3. Production refers to
(a) Transformation of (b) Transformation of
inputs into outputs labour into capital
(c) Transformation of (d) All of the above
capital into profit

8.  Raw-material cost are
(a) Fully variables (b) Semi-variable
(c) Fixed (d) Out of total cost

4. National income does not include:
(a) Service of an actor (b) Profit of a firm
(c) Export earnings (d) Transfer payments.

 Cost-push inflation is regarded as synonymous with
(a) wage-push (b) demand-pull
(c) deficits-push (d) none of these

5.  According to Keynes, the level of consumption
is determined by:
(a) effective demand. (b) level of increase.
(c) rate of interest. (d) level of savings.

10. Inflation as a monetary phenomenon was asserted
by:
(a) the communists (b) the monetanists
(c) the keynesians (d) the fiscalists

Section –B (20 Marks)
Attempt any 5 questions

Q1. Elucidate the term of market and discuss the factors which determine the size of market for
different commodities.
Q2.(a) Define cross elasticity of demand.
(b) How would you determine whether the given goods are substitute or complementary?
Q3.Define utility and explain the relationship between total and marginal utility.
Q4. Demonstrate unique characteristics of indifference curve.
Q5. Discuss the law of variable proportions with the help of a suitable illustration.
Q6. Elucidate the term of market and discuss the factors which determine the size of market for
different commodities.
Q7. Write notes on:
(a) Types of monopoly.
(b) Oligopoly.
(c) Monopolistic competition.
(d) Features of monopoly.
(e) Market Economy Paradigm.