Download GTU (Gujarat Technological University) MBA (Master of Business Administration) 2018 Winter 1st Sem 4519202 Economics For Managers Previous Question Paper
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER 1 ? EXAMINATION ? WINTER 2018
Subject Code:4519202 Date: 26/12/2018
Subject Name: Economics for Managers
Time: 10:30AM To 01:30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q.
No.
Marks
Q.1 Define the following terms.
(a) Equity
(b) Equilibrium
(c) Philip Curve
(d) Nominal Interest rate
(e) Supply
(f) Trade-off
(g) Opportunity cost
14
Q.2 (a) What is monopolistic competition. Explain difference between
monopoly and monopolistic competition.
07
(b) List ten principles of economics. Explain in detail how people
make their business decisions.
07
OR
(b) What is law of Demand? Explain factors which shift the demand
curve.
07
Q.3 (a) What is Oligopoly. Explain prisoners? dilemma in Oligopoly. 07
(b) Explain how Monetary policy and Fiscal policy influences
aggregate demand curve. Explain government purchase leads to
Multiplier effect and crowding out effect.
07
OR
Q.3 (a) What is GDP? Explain component of GDP. 07
(b) For each of the following, say whether it describes a perfect
competitive firm, a monopolistically competitive firm, both or
neither.
1. It Charges price equal to marginal cost.
2. It has marginal revenue equal to price.
3. The firm faces barriers to entry
4. It produces a product that is identical to that of its
competitors.
5. This firm earns zero economic profit in long run.
6. Firms is the only seller in market.
07
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Page 1 of 2
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER 1 ? EXAMINATION ? WINTER 2018
Subject Code:4519202 Date: 26/12/2018
Subject Name: Economics for Managers
Time: 10:30AM To 01:30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q.
No.
Marks
Q.1 Define the following terms.
(a) Equity
(b) Equilibrium
(c) Philip Curve
(d) Nominal Interest rate
(e) Supply
(f) Trade-off
(g) Opportunity cost
14
Q.2 (a) What is monopolistic competition. Explain difference between
monopoly and monopolistic competition.
07
(b) List ten principles of economics. Explain in detail how people
make their business decisions.
07
OR
(b) What is law of Demand? Explain factors which shift the demand
curve.
07
Q.3 (a) What is Oligopoly. Explain prisoners? dilemma in Oligopoly. 07
(b) Explain how Monetary policy and Fiscal policy influences
aggregate demand curve. Explain government purchase leads to
Multiplier effect and crowding out effect.
07
OR
Q.3 (a) What is GDP? Explain component of GDP. 07
(b) For each of the following, say whether it describes a perfect
competitive firm, a monopolistically competitive firm, both or
neither.
1. It Charges price equal to marginal cost.
2. It has marginal revenue equal to price.
3. The firm faces barriers to entry
4. It produces a product that is identical to that of its
competitors.
5. This firm earns zero economic profit in long run.
6. Firms is the only seller in market.
07
Page 2 of 2
Q.4
Assume following are the data of Agriculture industry of India
Year Price of
Wheat
Quantity of
Wheat
Price of
Rice
Quantity
of Rice
2014 Rs.50 1,000 Kgs Rs.40 800 Kgs
2015 Rs.55 1,500 Kgs Rs.44 1100 Kgs
2016 Rs.60 2,000 Kgs Rs.50 1500 Kgs
(a) Calculate Nominal GDP, Real GDP, GDP Deflator. 07
(b) Calculate percentage change in Nominal & real GDP. In which
year Indian agriculture sector doing well?
07
OR
Q.4 (a) What is Elasticity. Explain five cases of price Elasticity 07
(b) Define Cost of Living Index. Explain the steps in the calculation
of Cost of Living Index. State the problems involved in its
calculation.
07
Q.5
CASE STUDY:
Suppose that College students (With Job) and College students
(without-Job) have the following demand for Movie tickets in
Multiplex theatre.
Price Demand
movie ticket
(having
JOB)
Demand
movie ticket
(Without
JOB)
Rs.350 3000 1800
Rs.300 3200 2100
Rs.250 3500 2500
Rs.200 4000 3000
RS.100 5100 3800
(a) Calculate the price elasticity of demand when price rises from
Rs.250 to Rs.300 for college students having JOB using mid-
point method.
07
(b) Calculate the price elasticity of demand when price rises from
Rs.250 to Rs.300 for college students Without having JOB
using mid-point method.
Interpret the answer
07
OR
Q.5 (a) Calculate the price elasticity of demand when price rises from
Rs.300 to Rs.350 for college students having JOB using mid-
point method.
07
(b)
Calculate the price elasticity of demand when price rises from
Rs.300 to Rs.350 for college students Without having JOB
using mid-point method.
Interpret the answer
07
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This post was last modified on 19 February 2020