File Details:

Questions:

1. Who is a managerial economist? Explain his role and responsibilities in business management.
2. Define uncertainty. Describe its scope and measures to minimize uncertainty.
3. What do you mean by the law of demand? Describe its characteristics and factors influencing it.
4. What is elasticity of demand? How do you measure it? What are the principles determining the elasticity of demand?
5. Explain the concept of fixed costs and variable costs. How is the difference between fixed costs and variable costs important for business decisions?
6. Explain the relationship between marginal cost, average total cost, and average variable cost.
7. Write short notes on: Fixed Cost, P/V Ratio, Margin of Safety, Contribution, Break-even-point.
8. Explain the essentials of perfect competition. How is the price determined under perfect competition?
9. Define capital budgeting and state its importance with examples.
10. Explain the Payback Period Method of appraising a capital project. What is the average rate of return? Explain the formula for its computation.