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MG2452 / MG52 / 10177 GE007
Engineering Economics and Financial Accounting
2 Mark Question Bank

UNIT I (Managerial Economics & Decision Making)

1. Define Economics
2. Define Micro economics
3. Define Macro economics
4. Difference between Micro economics & Macro economics
5. Define the scope of economics
6. Name the disciplines linkage with Managerial Economics
7. Name the some of the Theories for an objective of Farm
8. Explain the importance of decision making
9. Define Profit maximization theory
10. Define Decision making
11. What are the basic concept in decision making
12. Name the types of managerial decisions
13. Define adaptive decisions.
14. Define Brain storming
15. Name the Techniques used in Process of decision making

Unit II (Demand & Supply)

16. What do you understand by demand?
17. What is autonomous demand and derived demand?
18. State the law of demand.
19. What is meant by Giffen Paradox?
20. Distinguish between extension of demand and increase in demand.
21. Define point and arc elasticity with examples.
22. Explain in brief any three uses of elasticity of demand in business
operations.
23. Define Delphi method.
24. Define elasticity of demand
25. What are the factors influencing elasticity of demand?
26. What is advertising or promotional elasticity of demand?
27. Define Income and cross elasticity of demand.
28. Define Supply function.
29. What is law of supply?
30. Define Supply function.
31. Define Income and cross elasticity of demand.



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UNIT-III (Production & Cost)

32. What are isoquants?
33. Define production function
34. Narrate or describe Law of Diminishing Returns.
35. Define an isoquant and explain its properties.
36. What is meant by Returns to Scale?
37. Define returns to scale.
38. What is the use of isocosts and isoquants
39. Define Incremental and sunk cost
40. Define opportunity cost
41. Define Fixed and Variable cost
42. Define separable cost
43. Define cost
44. Define Explicit and Implicit cost
45. Define Isocosts

UNIT-IV (Pricing)

46. Define Market
47. What are the features of market structure
48. What are the features of Perfect Competition
49. Define Monopoly market & Monopolistic market
50. Define normal Profit and supernormal profit
51. What are the features of monopoly
52. Mention the relationship between MR & AR in Perfect and oligopoly market
53. Explain the merits of monopoly
54. Define Kinked demand theory
55. Name five objectives for pricing
56. Define cost plus pricing
57. Define Market Skimming & Block Pricing

UNIT-V & VI (accounting & budgeting)

58. Define Accounting
59. what are the significance of accounting
60. What are the advantages of double entry book keeping
61. Define Trial balance
62. Define Errors of Principle and omission
63. Define capital expenditure
64. Define balance sheet
65. Define profit and loss account
66. What is payback period
67. State quantity theory of money
68. What is profitable index
69. What is creditors turnover ratio
70. Define Ledger
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