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RVS COLLEGE OF ARTS & SCIENCE (AUTONOMOUS), SULUR SCHOOL OF COMMERCE I INTERNAL EXAMINATION - JAN- 2011 I B.COM ECONOMIC ANALYSIS Time: Two hours Maximum : 50 marks Section A (10 x 1 = 10 marks) Answer ALL questions. 1. The author of wealth definition is (a)Alfred Marshall (b) Lional Robinsons (c) Adam smith (d) Samuelson 2. The author of scarcity definition is (a)Alfred Marshall (b) lional Robinsons (c) Adam smith (d) Samuelson 3. In economics, we make use of (a) deductive method (b) inductive method (c) both (d) none 4. The indifference curve approach was introduced by (a)Alfred Marshall (b) lional Robinsons (c) Adam smith (d) Samuelson 5. Utility is a (a)Social concept (b) psychological concept (c) Political concept (d) scientific concept 6. Single commodity consumption mode is (a) production possibility curve (b) law of equi marginal utility (c) law of supply (d) law of diminishing marginal utility 7. Demand for the commodity depends on (a) price of that commodity (b) price of related goods (c) Income (d) all the above

8. Law of demand establish (a) (b) (c) both inverse relationship between price and quantity positive relationship between price and quantity (d) none

9. Consumer surplus was first introduced by (a) Adam smith ( b) Samuelson (c) Dupuit (d) Hicks 10. Consumer surplus is (a) Potential price actual price (b) MV = TV- TV -1 (c ) demand = supply (d) none Section B (4 x 5 = 20 marks) Answer all Questions 11.(a)Write the features of welfare definition and its criticisms. (or) (b)Explain the deductive methods of utility analysis. 12.(a) Explain the methods of measurement of utility. (b)Explain the law of equilibrium. 13.(a) Explain in detail about law of demand. (b)Write a short notes on absolute income hypothesis? 14.(a) What are the exceptions of law of demand. (b)Briefly explain consumer surplus. Section C (2 x 10= 20 marks) Answer any two Questions 15. Elucidate the law of diminishing marginal utility with diagram. 16. Explain in detail about the elasticity of demand. 17. Discuss the consumer behavior in modern days. (or) (or) (or)

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Reg. No.:.. RVS COLLEGE OF ARTS & SCIENCE (AUTONOMOUS), SULUR SCHOOL OF COMMERCE I INTERNAL EXAMINATION - JAN- 2011 II B.COM (CA) MANAGERIAL ECONOMICS Maximum : 50 marks Section A (10 x 1 = 10 marks) Answer ALL questions.

Time: Two hours

1. The prime function of a management executive in a business organization is (a) Decision-making and forward planning (b) pricing decisions-policies and practices (c) Demand analysis and forecasting (d) production and supply analysis 2. Managerial economics belongs to----------(a) Normative economics (b) Positive economics (c) Negative economics (d) None 3. Managerial economics is ------ in nature (a) Macro (b) Micro and Macro (c) Micro (d) none 4. Good quality product with good distribution channel leads to----(a) Profit maximization (b) Sales maximization (c) Both a & b (d) None 5. The external factors lie within the scope and operation of a firm are known as (a) Objective of a business (b) Business operation (c) Business environment (d) None 6. Managerial economics deals with (a) Entire economy (b) only firm (C) Individual (d) both b and c 7. Law of demand states that (a) Higher the price lower the demand (b) lower the price lower the demand (c) Higher the price lower the supply (d) Higher the price higher the demand

8. What is the meaning for "other things remain constant" in the assumption of law of Demand (a) No changes in price (b) No change in other factors (c) No changes in other factors except price (d) none 8. A decline in price leads to more than proportionate change in demand (a) Relatively inelastic demand (b) Relatively elastic demand (c) Unity elasticity (d) perfectly elastic 9. Substitution effect means? (a) Price fall in product 'A' raises demand for its substitute (b) b) Price fall in product 'A' decreases demand for its substitute (c) Price fall in product 'A' decreases quality of its substitute (d)Price fall in product 'A' decreases quality of its substitute Section B (4 x 5 = 20 marks) Answer all Questions 11(a).Explain the chief characteristics of managerial economics. (or) (b) Define managerial economics? What are the importance of managerial economics? 12.(a)Explain Demand and law of demand. (b) What are the basic concepts used in managerial economics? 13.(a) What are the factors determining of demand? (b). Explain the uses of managerial economics. 14.(a) Write a short note on social responsibility of business firm. (b).Explain the objectives of business firm. (or) (or) (or)

Section C (2 x 10= 20 marks) Answer any two Questions 15. Explain in detail about elasticity of demand. 16. Describe nature and scope of managerial economics. 17. Define forecasting? Explain meaning and techniques.

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