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BCA Paper - Business Economics - Question Bank-1

Business Economics
BCA Paper - Business Economics - Question Bank-1
Question Bank-1

Q1: Write short note on:
   a. Various types of Price Discrimination.
   b. Role of fiscal policy to check inflation.
   c. Internal economics and Dieconomics
   d. Factors which determine price elasticity of demand for a commodity.
   e. Concept of break even analysis and assumptions made in it.
   f. Highlights of export-import policy 2004-2009 of Govt. of India
   g. Contribution of WTO in global Trade.
   h. Difference between economics and business economics  
   i. Opportunity Cost Principle
   j. Marginal Cost, average cost, total cost
   k. Causes of unemployment
   l. Factors responsible for inflation in an economy
   m. Importance of globalization.

Q2: Distinguish between elastic and inelastic demand with appropriate examples. Explain the factors which determine elasticity of demand for a commodity.

Q3: Explain the importance of the Law of Variable Proportion in Business decision making. Draw a diagram to show various stages of the working of the law of variable proportion and their underlying rationale.

Q4: Briefly specify the various reasons which cause an increase in the market demand of a commodity. Illustrate as to why does the demand curve shift to the right when increase in demand occurs due to the non-price factors? What are the exceptions to the law of demand?

Q5: Describe the importance of nature of returns to scale for a firm. Which factors do contribute for increasing and decreasing returns to scale to prevail?

Q6: Distinguish between Monopoly and Monopolistic Competition and equilibrium of the firm under these distinct market conditions. Can a monopolist charge any price for his product? Give reasons to substantiate your answer.

Q7: (a) Why is a firm under perfect competition a price-taker and not a pricemaker?
       (b) What are the conditions for profit maximization under perfect competition in short run and
            long run?

Q8: What do you mean by the equilibrium of a firm in the short run? Briefly explain the pricing and output conditions in terms of perfect competition and monopolistic competition.

Q9: (a) What are the characteristics of oligopoly phenomenon?
       (b) What are the various pricing methods in practice in the market?

Q10: Briefly explain the various concepts of National Income. What are the various methods to measure the National Income? Specify the special difficulties encountered in estimating National Income in developing countries like India,

Q11: Why do Economies go through cycles of recession and recovery or bust and boom? Present a summary statement of the essential elements in the various trade cycle models.

Q12: Discuss and analyse comprehensively the circular flow of income in two sector, three sector and four sector model. Why this subject is taught to student of Business Economics?

Q13: Distinguish between the monetary and fiscal policy. How do they influence the macro-economic situation?

Q14: Explain the objectives and functions of WTO? Why was GATT replaced by WTO? Is WTO serving a useful purpose?

Q15: What is the significance of foreign capital in the economic transformation of emerging economy like India? How has India been benefited from the flow of Foreign Direct Investment since 1991 when economic reforms were initiated? Give examples in support of your answer.

Q16: Explain the concept of globalization in the world trade Scene. What are the implications of globalization of Indian economy in the light of our new economic policy?

Q17: How do you define a Multinational Corporation? What are the social, political, economic and cultural effects of MNCs on the host countries? How is our govt. regulating the operations of these foreign companies in India to conform to our socio-economic policy?