krc.gitam.edu Business Economics Model Question Paper : GITAM University

Organisation : GITAM University
Exam : B.Com. & B.A. Degree Examination
Document Type : Model Question Paper
Category or Subject : Business Economics
Year : 2016

Website : http://krc.gitam.edu/papers
Download Model Question Paper : https://www.pdfquestion.in/uploads/11814-CUDCO.pdf

Business Economics Model Question Paper :

Time: 3 Hours
Max.Marks : 70
Instructions :
** All parts of the unit must be answered in one place only.
** Figures in the right hand margin indicate marks allotted.

Related : Mother Teresa Women’s University TNSET Earth Sciences Question Paper 2017 : www.pdfquestion.in/11750.html

Multiple Choice Questions: (15×1=15)
1) Paul A. Samuelson called Economics as the
a) King of Social sciences
b) Queen of social sciences
c) King of Mathematics
d) Queen of Mathematics

2) Who is the father of economics
a) Robbins
b) Pigou
c) Adam Smith
d) Marshall

3) Petrol and car are
a) Complementary goods
b) Substitutes goods
c) Necessary goods
d) Luxury goods

4) The cardinal Approach to utility assumes marginal utility of money is
a) Zero
b) Constant
c) Increasing Trand
d) None of the above

5) The Law of Demand was introduced by
a) Marshall
b) Ricardo
c) Keyness
d) Adam Smith

6) The Demand for salt is – G¶pÁýêOµÀ Sµv fº¶¢ÃAf³
a) Elastic
b) Inelsatic
c) Zero elastic
d) None of the above

7) Envelope curve is another name for
a) Long run marginal cost curve
b) Long run average cost curve
c) Short run marginal cost curve
d) T.C. Curve

8) Copy rights is an example of
a) Legal monopoly
b) Duopoly
c) Monosopony
D) Oligopoly

9) Disposable personal income becomes equal to
a) Consumption – Savings
b) Consumption / Savings
c) Consumption + Savings
d) Consumption * Savings

10) A firm is in equilibrium wen following condition is fulfilled
a) MC=MR
b) MC<MR
c) MC=0
d) MC>MR

11) W.T.O. was established in
a) 1948
b) 1949
c) 1995
d) 1996

12) Sunspots theory is associated with the name of
a) Jevons
b) Pigou
c) Hicks
d) Douglas

13) “Marginal Productivity Theory of distribution” was given by
a) Ricardo
b) Robinson
c) Chamberlin
d) J.B. Clark

14) In monopoly market, there is a
a) Single Seller
b) Single Buyer
c) Single Buyer and Single Seller
d) None of the above

15. M.F.N. Means
a) Monopoly Favoured Nation
b) Most Favoured Nation
c) Money Favourede Nation
d) None of the above

Fill in the blanks:
16) Welfare definition of economics was given by____________
17) Micro and macro concepts were first used by _______
18) When total utility is maximum, marginal utility will be _________
19) The very short period is also known as __________
20) Gold is an example of _______ Trade
21) W.T.O. was replaced in place of ____________

Match the following: (5×1=5)
22) Consumer’s Surplus – a) Interest
23) Quasi – rent – b) Business Cycles
24) Selling Costs – c) Dupit
25) Prosperity – d) Marshall
26) Capital – e) Monopolistic competition

Write short notes on any FOUR of the following :
27. Economico Activites
28. Static analysis
29. Demand function
30. Internal Economies
31. Elasticity of Supply
32. Normal Profits
33. Gross National Product

Write an essay on any FOUR of the following : (4×8=32)
34. Write an essay on micro and macro economics?
35. Explain the law of Equi-marginal utility
36. Explain the types of elasticity of price demand
37. What is monopoly? Explain how price is determined under this
38. Explain the methods of estimating National Income
39. State some important theories of business cycles?
40. Explain objective and functions of W.T.O.

Business Environment :
SECTION-A :
1. Answer any FIVE of the following :
Each answer should not exceed one page : (5×2=10)
a) Define Business Environment
b) SEZ
c) Global Warming
d) Three institutions of the Government
e) Rural Development
f) IMF
g) Functions of WTO
h) What is consumerism?

SECTION-B :
Answer the following : (5×8=40)
UNIT-I :
2. a) Define ‘business environment’ and state the importance of its study
OR
b) How does the socio cultural environment influence the business policy of an organization?

UNIT-II :
3. a) Is there any threat to the Indian economy due to LPG? Discuss
OR
b) Discuss the impact of (i) Legislature; (ii) Executive; and (iii) Judiciary on business

UNIT-III :
4. a) Explain the various casus of unemployment in India
OR
b) Discuss the ways through which business can contribute to rural development

UNIT-IV :
5. a) Discuss the provisions of Foreign Exchange Management Act. (FEMA) 1999
OR
b) Give the objectives of Competition Act. What are its main provisions?

UNIT-V :
6. a) What is the role of WTO in settling disputes regarding trade policies of any country?

SECTION – B :
I. Four alternatives are given for each of the following questions / incomplete statements. Choose the correct alternative and write the complete answer along with its question number and alphabet : 3 × 1 = 3
29. You did me ………… favour.
(A) huge
(B) large
(C) great
(D) maximum

30. Observe the following analogy and write the answer :
Bengaluru : Noun :: Walking : ………………… .
(A) Pronoun
(B) Adjective
(C) Conjunction
(D) Verb

31. Come to shop ……………… 5 p.m.
(A) in
(B) at
(C) for
(D) on

II. Fill in the blanks with suitable answer :
32. The type of letter that you write to a company which has offered you a job is ………………… . 1
III. Answer the following question : 2
33. What are the two resolutions (promise) made by you in the year 2017 ?

IV. Answer the following question : 4 × 1 = 4
34. Fill in the blanks with the appropriate word given in the brackets :
i) I ………………. ( recently, daily ) moved to a new city.
ii) I live here with my ……………. ( best, better ) friend.
iii) There is a …………….. ( logical, historical ) monument near our house.
iv) I now live …………….. ( comfortable, comfortably ) in the garden city of Bengaluru.
OR

Fill in the blanks with correct pronouns :
i) Except Ruhi and …………….. ( I, me ) everyone else arrived late at the exhibition.
ii) Ravi was very helpful to …………….. ( us, ourselves ) when we went trekking in the mountains.
iii) We must reach the airport on time, or else ……………. ( we, us ) will miss the flight.
iv) As our driver has fever, Raman and …………….. ( mine, I ) offered to drive the car for the rest of the journey.