MBA 105 - MANAGERIAL ECONOMICS

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ASSIGNMENT

DRIVE	FALL 2017
PROGRAM	Master of Business Administration- MBA
SEMESTER	Semester 1
SUBJECT CODE & NAME	MBA 105 - MANAGERIAL ECONOMICS
BK ID	B1625
CREDITS	4
MARKS	60

Note –The Assignment is divided into 2 sets. You have to answer all questions in both sets. Average score of both assignments scored by you will be considered as your IA score. Kindly note that answers for 10 marks questions should be approximately of 400 words.

SET 1

Question. 1. Define Demand Forecasting. Elucidate the determinants of supply.

Answer: An organization faces several internal and external risks, such as high competition, failure of technology, labor unrest, inflation, recession, and change in government laws.

Therefore, most of the business decisions of an organization are made under the conditions of risk and uncertainty.

An organization can lessen the adverse effects of risks by determining the demand or sales prospects for its products and services in future.

Question. 2. State the Law of Demand and also discuss the various exceptions to the law of demand

                                                                              

Answer:

The law of demand states that, other things remaining the same, the quantity demanded of a commodity is inversely related to its price.

It is one of the important laws of economics which was firstly propounded by neo-classical economist, Alfred Marshall.

Other things remaining the same, the amount demanded increases with a fall in price and diminishes with a rise in price.

- Alfred Marshall

Thus, according to the law of demand,

Question. 3. Define business cycle and some of the causes of business cycles.

Answer: The business cycle is the fluctuation in economic activity that an economy experiences over a period of time. A business cycle is basically defined in terms of periods of expansion or recession. During expansions, the economy is growing in real terms (i.e. excluding inflation), as evidenced by increases in indicators like employment, industrial production, sales and personal incomes. During recessions, the economy is contracting, as measured by decreases in the above indicators. Expansion is measured from the trough (or bottom) of

SET 2

Question. 1. Explain the equilibrium of a firm under perfect competition in the long run

Answer: The long run is a period of time which is sufficiently long to allow the firms to make changes in all factors of production. In the long run, all factors are variable and none fixed. The firms, in the long run, can increase their output by changing their capital equipment; they may expand their old plants or replace the old lower-capacity plants by the new higher-capacity plants or add new plants.

Besides, in the long run, new firms can enter

Question. 2. Define Monetary Policy and Fiscal Policy. Write down any four objectives of both Monetary and Fiscal Policy

Answer: Monetary policy involves changing the interest rate and influencing the money supply.

Fiscal policy involves the government changing tax rates and levels of government spending to influence aggregate demand in the economy.

They are both used to pursue policies of

Question. 3. Explain Oligopoly. Explain the features of oligopoly market.

Answer: Oligopoly is a market situation in which there are only a few sellers of a commodity. Under this, each seller can influence its price-output policy.

It is because the number of sellers is not very large and each seller controls a big portion of total supply.

Price-output policy of a firm does affect the rivals.

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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