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Saturday, May 20, 2023

Download "Business Economics - 1" Question Paper of B. Com (Bachelor of Commerce) (General) 1st Semester Previous Years for Students.




Bachelor of Commerce
First Semester
BCM-104: Business Economics - 1


Max. Marks: 80 Time allowed: 3 Hours


NOTE: Attempt four short answer type questions from Section-A. Attempt two questions each from Section B and C respectively.


Section - A

I. Attempt any four of the following:-

a) Differentiate between contraction of demand and decrease in demand.

b) Write short note on Cross elasticity of demand.

c) Why is diamond less useful but more valuable than water?

d) Which are three stages of returns to scale of production?

e) Why are cost curves 'U' shaped?

f) Explain Shut-down Point.



Section - B

II. Explain the Law of Demand. Why does the demand curve slope downward?

III. What is Price Elasticity of Demand? Explain its various degrees. How it can be measured with the help of the Total Expenditure Method?

IV. Explain 'Price Effect' with the help of indifference curve approach. Show with the help of suitable diagram, bifurcation of Price Effect into 'Income Effect' and 'Substitution Effect'.

V. What is Utility Analysis? How Consumer equilibrium can be achieved with the help of Utility Analysis?


Section - C

VI. Explain the law of increasing returns. Why does it apply to industries?

VII. Explain diagrammatically short-run Modern Theory of Cost.

VIII. What is 'Perfect Competition"? How is price determined under perfect competition?

IX. What is Price Discrimination? How the equilibrium and prices are determined in it? 




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