Define Business Economics. Explain its nature and scope.
Explain in detail the main objectives and functions of the World Trade Organization.
Write short notes on any two of the following: (a) Features of Oligopoly, (b) Objectives of Monetary Policy, (c) Salient features of Multinational Corporations, (d) Outsourcing.
Define Business Economics. Briefly explain the nature, scope, and significance of Business Economics.
Define Price Elasticity of Demand and explain its various degrees. How can it be measured?
Differentiate between monopoly and monopolistic competition. Show with the help of diagrams how price and output are determined under conditions of monopolistic competition.
Give the role of business economics in managing an organization.
Elaborate the statement: 'No cost is a fixed cost in the long run.' What are different types of costs studied in business economics? Also give cost-output relationship in short run.
What are different factors of production? What do you mean by iso-quant curve?