Question BankList of Questions:1. Discuss Law of Demand &
Giffin Paradox.2. Distinguish between om!"ementar# Good &
$ubstitutes.%. &x!"ain the Degrees of Price &"asticit# of
Demand.'. (h# do #ou stud# manageria" economics in
&ngineering)*. Differentiate between economics and manageria"
economics.+. &x!"ain Demand schedu"e & Demand ur,e of a
consumer with the he"! of an exam!"e.-. &x!"ain the use of
conce!t of .ncome &"asticit# of Demand in /anageria"
Decisions.0. Discuss the nature of economics as a science and as an
art.1. (hat is the significance of demand forecasting)12.
Difference between fixed cost and ,ariab"e cost11. $tate the
exce!tions to Law of Demand.12. &x!"ain the !rice3 income and
cross demand with the he"! of gra!hica" re!resentation.1%.
&x!"ain an# two methods of demand forecasting.1'. &x!"ain
4ota"3 /argina" & 5,erage Product with the he"! of formu"a
re!resentation.1*. &x!"ain the !rice3 income and cross
e"asticit# of demand with the he"! of formu"a re!resentation1+.
(hat is the ro"e & im!ortance of science3 engineering &
techno"og# in the economic de,e"o!ment)1-. &x!"ain the "aw of
,ariab"e !ro!ortion & returns to sca"e with the he"! of
gra!hica" re!resentation.10. &x!"ain e"asticit# of demand and
a"so state degrees of e"asticit# of demand.11. (hat are the
interna" and externa" economies and diseconomies a,ai"ab"e to a
firm)22. &x!"ain the conce!t and need of demand forecasting.21.
(hat are the ,arious 6uantitati,e methods of demand forecasting)
Discuss an# two of them.22. &x!"ain the three stages of the Law
of ,ariab"e !ro!ortion.2%. (hat do #ou mean b# 7eturn to sca"e) 8ow
does increasing returns to sca"e o!erate)2'. (rite short notes on
the fo""owing:925.Opportunity cost26.Fixed cost27.Variable cost20.
&x!"ain the conce!t of ost with s!ecia" reference to
:!!ortunit# cost3 actua" cost3 .m!"icit and &x!"icit cost3
;ixed and ,ariab"e cost)21. . (hat are the ,arious 6uantitati,e
methods of demand forecasting) Discuss an# two of them.%2.
&x!"ain the three stages of the Law of ,ariab"e !ro!ortion.%1.
(hat do #ou mean b# 7eturn to sca"e) 8ow does increasing returns to
sca"e o!erate)%2. (hat are .so6uants) &x!"ain the broad
features of iso6uants.%%. Define Perfect om!etition and
Differentiate between Perfect com!etition and /ono!o"istic
om!etition)%'. (hat are the ,arious features of o"igo!o"#) 8ow
!rice is determined under o"igo!o"# mar
