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Questions:

1. Explain the nature and scope of Managerial Economics. Elaborate the definition of economics on the basis of wealth, welfare and scarcity.
2. Elaborate various fundamental concepts in Managerial Economics.
3. Explain the term demand. Discuss various reasons for the Law of Demand.
4. Define the law of supply. Explain different types of degrees of elasticity of supply.
5. Discuss the concept of Revenue. Explain the importance of revenue analysis for a firm.
6. Define the term sales forecast. Elaborate various methods of sales forecast.
7. Elaborate various concepts of cost.
8. Define the term Market. Elaborate characteristics of Perfectly competitive market.
9. Discuss the concept of monopolistic competition. Explain various features of Monopolistic competition.
10. Define the term Inflation. Discuss various reasons for Inflation and methods to control inflation.