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Thursday, December 22, 2022

Managerial Economics, Question Paper Download for B.Sc. Fashion Merchandising and Retail Management, Previous years Examination.




B.Sc. Fashion Merchandising and Retail Management (BSC FMRM)
Bfw-003: Managerial Economics


Time: 3 hours Maximum Marks: 70



Note: Attempt any seven questions. All questions carry equal marks.


1. Define Demand concept. What are the factors affecting the demand? Why does the demand curve slope downward? What are the exceptions to the law of demand?


2. What is Production Function? Explain the Laws of Returns to Scale of the Production, with diagrams.


3. What is a Perfectly Competitive Market? What are its features? How is the price of a commodity determined under a perfectly competitive market?


4. What is inflation? What are the causes of inflation? How is inflation controlled in an economy?


5. The quantity previously demanded was 100 units. Decrease in quantity demanded is 5 units, due to increase in price of 5 and the price elasticity of demand is 1-2. Calculate the price before the change.


6. Define fixed cost of a firm. Is it correct to say that fixed cost is irrelevant for decision-making as it is unaffected by the level of output?


7. Explain the following with examples: 


(a) Explicit cost and Implicit cost 

(b) Private cost and Social cost


8. Explain the central problems of an economy.


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