FYBCOM Business Economics Semester 1 important questions IDOL Mumbai University

FYBCOM Business Economics Semester 1 important questions of Mumbai University

FYBCOM IDOL Previous year questions paper

 Q.1 Objectives type of Questions

Q.2 Answer the following questions

1. Discuss the Scope of study of Business Economics.
2. What is business economics? Discuss the relationship between economics concepts and business decisions.
3. Explain the market supply curve.
4. Explain ‘shifts or changes in supply curve’ with the help of diagram.
5. Given the following Date:
   

   Q (Quantity)	1	2	3	4	5
   P (Price)	10	9	8	7	6

    

   1. Calculate TR, AR, and MR.
   2. Explain the relationship between TR and MR, MR and AR

Q.3 Answer the following questions

1. What is Demand forecasting? what is the significance of demand forecasting?
2. What is Demand forecasting? Explain the various types of demand forecasting.
3. What are the steps in demand forecasting?
4. Describe the nature of demand curve under perfect competition and monopolistic competition
5. Draw the demand curve under monopoly market

Q.4 Answer the following questions

1. Types of isoquant
2. Define isoquants, What are the properties of isoquants?
3. What is meant by diseconomies of scale? Discuss the various internal and external diseconomies of scale.
4. Explain the law of variable proportions
5. Discuss external economics and diseconomies of scale.
6. Distinguish between fixed proportions and variable proportions production functions.

Q.5 Answer the following questions

1. Explain the nature and relationship between AFC, AVC, ATC and MC curve of a firm.
2. Distinguish between short run and long run cost.
3. Draw diagram to illustrate:

• TFC, TVC, and TC
• AFC
• AVC, AC, MC
• The Relationship between AC and MC

Q.6 Write Short Notes on the following:

1. Functions and equations
2. Promotional elasticity of demand
3. Types of isoquants
4. Expansion path
5. Accounting and economics cost
6. Application of break-even analysis
7. Importance of business economics.
8. Cross elasticity of demand.
9. Survey method of demand forecasting.
10. Ridge lines.
11. Learning curve.
12. Limitation of break even analysis
13. internal economics of scale

Download the questions paper of previous year PDF