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Internal Assignment No. 1
Bachelor of Business Administration (BBA)-(Retalling)
Paper Code: BBA–
105
Note: Question No. 1 is of short answer type and is compulsory for
all the students.
It carries 5
Marks. (Word limits 50-100)
Q. 1. Answer all the
questions:
(i) Define Business Economics.
Business economics is the study of the financial
issues and challenges faced by corporations operating in a specified
(ii) Differentiate between positive
and normative economics.
The distinction between positive economics and normative
economics
may seem simple, but it is not always easy to differentiate between the
two. Positive economics is
objective and fact based, while normative economics
(iii) What is ordinal utility?
Modem economists, particularly Hicks gave ordinal
utility concept to analyze consumer behavior.
He has used a tool, called indifference curve, for
consumer behavior analysis
(iv) Explain the law of diminishing
marginal utility.
The law of diminishing marginal utility is a law
of economics stating that as a person increases consumption of a product while
keeping
(v) What is demand forecasting?
Explain it.
Demand forecasting is the art and science of forecasting customer
demand to optimize supply of such demand by corporate supply chain and business
management. Demand forecasting
Note:
Answer any two questions. Each question carries 5 marks (Word limit 500)
Q. 2. Differentiate
between economics and Business Economics.
Economics
Economics is about carefully and analytically studying
the human behavior with regards to limited
Q. 3. Explain the Hick’s
theory of price effect.
In economics and
particularly in consumer choice theory, the substitution effect is one
component of the effect of a change in the price of a good upon the amount of
that good demanded by a consumer, the other being the income effect.
Internal Assignment No. 2
Bachelor of Business Administration (BBA)-(Retalling)
Paper Code: BBA–
105
Note: Question No. 1 is of short answer type and is compulsory for
all the students.
It carries 5
Marks. (Word limits 50-100)
Q. 1. Answer all the
questions:
(i)
What is meant by production function?
In economics, a production function relates physical
output of a production process to physical inputs or factors of production. It
is a mathematical function that relates the maximum amount of output that can
be obtained from a given number of inputs – generally capital and labor. The
production function, therefore, describes a boundary or frontier representing
the limit of output obtainable from each
(ii)Explain the law of variable
proportion.
The law of variable proportions
states that as the quantity of one factor is increased, keeping the other
factors fixed, the marginal product of that factor will eventually decline.
This means that upto the use of a certain amount of variable factor, marginal
product of the factor may increase and after a certain
(iii)What is least cost combination?
Ans- In order to determine the best combination of capital and labor to produce that output, one has
(iv)What are the types of market?
Ans-There are basically 4 types of market:
·Perfectly competitive market
·
(v)Explain the Kinked demand curve.
Ans-
The kinkeddemand curve is a demand curve comprised of two segments, one that is relatively more
Q2-Explain the returns to scale approach of production function.
Ans-Returns to scale and economies of scale are related terms that describe what happens as the scale of production increases in the long run, when all input levels including physical capital usage arevariable (
Q. 3. Discuss
the characteristics of Isoquants.
The isoquant curve is a
graph, used in the study of microeconomics, that charts all inputs that produce a specified
level of output. This graph is used as a metric for the influence that the
inputs have on the level of output or production that can be obtained. The
isoquant curve assists firms in making
Dear students,
get fully solved assignments by
professionals
Do send your
query at :
or call us at
:08263069601
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