quiz test-1

EHU-501/Mr. GauravSrivastava, Mr. Sameer Rastogi, Mr. Manish Kumar, Ms. Kanchan, Ms. Somya Pandit Date: 25/08 /2012

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SHRI RAMSWAROOP MEMORIAL COLLEGE OF ENGG. & MANAGEMENT

B.Tech [SEM V] QUIZ TEST-1

(Session : 2012-13)

Engineering and Managerial Economics (EHU-501)

Roll No.

(To be filled by the Student) Note: Attempt all Questions. Part – A

(Questions from Tutorial Sheet) [10 Marks]

Q1)” Art is a way which develops the best way of doing things.”Discuss this statement by correlating it with the

concepts of economics. [Question No. 3] [5 Marks] [200-250 words] Q2) Economics is concerned with “what should happen” rather “what does happen”. Elaborate upon this feature

of economics and discuss its utility. [Question No.9] [5 Marks] [200-250 words]

Part – B

[20 Marks] Q3) “Managerial Economics is a science.” Examine this statement with the help of a suitable example. What are

the various scopes of Managerial Economics? Explain each of them in brief. [250-300 words] [3+4=7 marks] Q4) Explain the following principles of Managerial Economics with the help of a suitable example.

a) Incremental Cost Principle b) Time Perspective Principle c) Discounting Principle d) Equi-Marginal Principle [300-350 words] [4*2=8 marks]

Q5) What are the various roles and responsibilities of a managerial economist? Explain each of them in brief. [200-250 words] [5 marks]

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Academic/26 Refer/WI/ACAD/18

Time: 1 Hour Max. Marks: 30


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(Session : 2012-13)


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Q1 Discuss forward planning and decision making as the tools of managerial economics by giving practical

example of each. [Question No. 7] [5 Marks] [200-250 words] Q2) Microeconomics is a branch of economics that studies the behavior of individual households and firms.

Examine this statement and elaborate on the features of micro economics. [Question No.10] [5 Marks] [200-250 words]

Part – B





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(Session : 2012-13)


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Q1“Macroeconomics treats whole economy as one unit.” Explain this statement with reference to the

constituents of macroeconomics. [Question No. 1] [5 Marks] [200-250 words] Q2) “Engineering renders ability of directing the greater sources of power in nature for the use and convenience

of man”. Elaborate upon this statement and discuss the relation of economics with engineering. [Question No. 8] [5 Marks] [200-250 words]

Part – B





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(Session : 2012-13)


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Q1) Opportunity cost is assessed in not only monetary or material terms, but also in terms of anything which is of value. Do you agree? Give reasons for your answer. [Question No. 4] [5 Marks] [200-250 words] Q2) “Economics is the study of how society manages with scarce resources.”Discuss this statement and

elaborate upon the role of economics in managing with scarce resources [Question No. 6] [5 Marks] [200-250 words]

Part – B





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(Session : 2012-13)


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Q1) “Economics is multi-disciplinary”. Do you agree? Give reasons for your answer. [Question No. 2] [5 Marks] [200-250 words] Q2) Managerial economic though evolved from tradition economics is much different from its parent. Discuss

the points of differences shared by them. [Question No. 5] [5 Marks] [200-250 words]

Part – B





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EHU-501/Mr.Manish Kumar,Mr Sameer Rastogi,Ms.SomyaPpandit,Ms.Kanchan Agarwal,Mr.Gourav Srivastava Date: 17/09/12

PTO


B.Tech. [SEM V (CS,EN,ME,IT,EC,CE)] QUIZ TEST-2

(Session: 2012-13) ENGINEERING & MANAGERIAL ECONOMICS

(EHU-501)

Roll No.

(To be filled by the Student) Note: Attempt all questions.

Part – A (Questions from Tutorial Sheet 2)

[10 Marks] Q1. “Price elasticity depends upon the number of uses of the commodity”. Elaborate upon this statement from the point of economics. (Q. No. 4) [2.5+2.5=5 Marks] Q2. “Cross elasticity of demand may be described as the proportionate change in quantity demand of a particular commodity in response to a change in the price of another related commodity.”Explain this concept and also discuss the factors affecting cross elasticity.

(Q. No. 6) [3+2=5 Marks]

Part – B

[20 Marks] Q1.Explain the reasons of demand curve sloping ‘downward’? Support your answer with the help of suitable graph.

[3+2=5 Marks]

Q2.”Elasticity of demand of a product may vary between Zero to Infinity “Discuss the statement in detail? [7 Marks] Q3. “The law of demand explains the relationship between price and quantity demanded “Explain, the statement with the help of demand schedules and demand curves.

[4+4=8 Marks] __________X__________


EHU-501/Mr.Manish kumar,Mr Sameer rastogi,Ms.Somya pandit,Ms.kanchan agarwal,Mr.Gourav srivastava Date: 17/09/12

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(Session: 2012-13)

ENGINEERING & MANAGERIAL ECONOMICS (EHU-501)

Roll No.



[10 Marks] Q1. Explicate the relationship between needs, wants and demand with the help of example. (Q. No. 1) [2+2+1=5 Marks] Q2. Discuss “unitary elastic demand curve” with the help of an hypothetical example.

(Q. No. 7) [3+2=5 Marks]

Part – B

[20 Marks] Q1. Explain the reasons of demand curve sloping ‘downward’? Support your answer with the help of suitable graph.

[3+2=5 Marks] [5 Marks]


[4+4=8 Marks] __________X__________



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(Session: 2012-13)


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[10 Marks] Q1. Elucidate upon the conditions which can lead to increase and decrease in demand curve. Illustrate both the situations with the help of demand curve. (Q. No. 8) [2+3=5 Marks] Q2. Elucidate the relationship between individual and market demand curve .Also explain market demand schedule with the help of the example . (Q. No. 10) [3+2=5 Marks]

Part – B


[3+2=5 Marks] [5 Marks]


[4+4=8 Marks] __________X__________



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B.Tech. [SEM V (CS,EN,ME,IT,EC,CE) QUIZ TEST-2

(Session: 2012-13)


Roll No.



[10 Marks] Q1. “Income elasticity helps in identifying the potential market of the product.”Do you agree? Give reasons for your answer. (Q. No. 12) [3+2=5 Marks] Q2. ”Utility is the psychological feeling of satisfaction and pleasure that is derived by a consumer from the use of a commodity.”Discuss this statement and explain the concept of total and marginal utility with the help of a graph. (Q. No. 14) [3+2=5 Marks]

Part – B


[3+2=5 Marks]


[4+4=8 Marks] __________X__________



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(Session: 2012-13)


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[10 Marks] Q1. Elaborate upon the effect of fluctuations in income level on the demand curve. Explain this concept with the help of the graph. How is this concept related to Giffen Paradox? (Q. No. 02) [2+1+2=5 Marks] Q2. ”Demand function explains the functional relationship between quantity demanded of a commodity and factors that affect demand.”Explain the statement and discuss the factors affecting demand. (Q. No. 15) [3+2=5 Marks]

Part – B


[3+2=5 Marks] Q2.”Elasticity of demand of a product may vary between Zero to Infinity “Discuss the statement in detail? [7 Marks] Q3. “The law of demand explains the relationship between price and quantity demanded “Explain, the statement with the help of demand schedules and demand curves?.

[4+4=8 Marks] __________X__________


EHU-501/Ms. Somya Pandit, Mr. Sameer Rastogi, Mr. Gaurav Srivastava, Mr. Manish Kumar, Ms Kanchan Agarwal Date: 22 /10 /2011

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B.Tech. [SEM V, (ALL BRANCHES)] QUIZ TEST-3

(Session: 2012-13)


Roll No.

(To be filled by the Student) Note: Attempt all questions:


[10 Marks, 200-250 words each] Q1) “Accurate demand forecasting is essential for a firm, to enable it to produce the required quantities at the right time.” Comment on the statement and also describe the significance of demand forecasting (Q1, 5marks) Q2) “External economics arise to firms in an industry from reduction in factor prices and reflect interdependence among firms.” Comment on the statement and discuss the external economics. (Q8, 2+3= 5marks)

Part – B

[20 Marks] Q3) Elaborate upon the Law of Returns to Factor. How is it different from the Law of Return to Scale? (250-300 words) (4+3=7 marks) Q4) Elucidate the relationship of various costs in short run. Support your answer with suitable diagram. (250-300 words) (3+3=7 marks) Q5) Differentiate between the internal and external economies. In which principal ways does the firm enjoys internal economies? How do they affect firm’s average cost curve over different ranges of output? (250-300 words)(3+2+2=7 marks)

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EHU-501/Ms. Somya Pandit, Mr. Sameer Rastogi, Mr. Gaurav Srivastava, Mr. Manish Kumar, Ms Kanchan Agarwal Date: 22/10 /2011

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(Session: 2012-13)


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[10 Marks, 200-250 words each]

Q1) “The lines representing least cost combination for different levels of output is called firm’s expansion path.” Justify the statement and give a diagrammatic explanation. (Q5, 2+3 marks) Q2) Explain and illustrate the distinction between the following: (a) fixed cost and variable cost (b) explicit cost and implicit cost (Q12, 2.5+2.5marks)

Part – B


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(Session: 2012-13)


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[10 Marks, 200-250 words each] Q1) “Economies if increasing in size do not continue indefinitely and after a certain point, any further expansion of size leads to diseconomies of scale.” Justify the statement and explain the impact it pose on the long run cost with the help of an appropriate diagram. (Q11, 2+3 marks) Q2) “An isoquant is a curve on which the various combinations of labour and capital show the same output.” Elaborate the statement and also discuss the properties of isoquants. (Q3, 2+3 marks)

Part – B


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EHU-501/Ms. Somya Pandit, Mr. Sameer Rastogi, Mr. Gaurav Srivastava, Mr. Manish Kumar, Ms Kanchan Agarwal Date: 22 /10 /2011

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(EHU-501)

Roll No.




Q1) Elaborate upon the relationship between TC, TVC and TFC, and explain with the help of graph. (Q15, 3+2= 5marks) Q2) “The production function is a purely technical relation which connects factor inputs and outputs”. The knowledge of production function has immense managerial use. Discuss the statement and explain various uses of production function in managerial economics. (Q6, 3+2= 5marks)

Part – B


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(Session: 2012-13)


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Q1) “Demand forecasting serves as guiding tool for entrepreneurs.” Discuss the statement and also explain any 4 methods of demand forecasting. (Q7, 1+4= 5marks) Q2) “The variation in output that results from applying different quantities of a variable factor to the given quantities of a fixed factor are summed up as law of variable proportion”. Explain the statement and discuss the various stages of it. (Q10, 2+3 marks)

Part – B

[20 Marks] Q3) Elaborate upon the Law of Returns to scale. How is Law of Returns to scale different from the Law of Return to factor? (250-300 words) (4+3=7 marks) Q4) Elucidate the relationship of various costs in short run. Support your answer with suitable diagram. (250-300 words) (3+3=7 marks) Q5) Differentiate between the internal and external economies. In which principal ways does the firm enjoys internal economies? How do they affect firm’s average cost curve over different ranges of output? (250-300 words)(3+2+2=7 marks)

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EHU-501/Mr.Manish Kumar,Mr Sameer Rastogi,Ms.Somya Pandit,Ms.Kanchan Agarwal,Mr.Gourav Srivastava Date: 29/10/12




(EHU-501)

Time: 1 Hour Max. Marks: 30 Marks

Roll No.



[10 Marks] Q1. “Perfect Competition is characterized by many sellers, identical product with large number of buyers”. Explain? (Q. No. 1) [5 Marks] (200-250 Words) Q2. In economics, market is used in a wide perspective and the sellers and the buyers of a particular commodity are spread over a large area. What do the term market mean and also explain the characteristics of a market. (Q. No. 10) [2+3=5 Marks]

(200-250 Words)

Part – B

[20 Marks] Q1. “Barrier to entry describes the disadvantages of potential entrants relative to established firms in an industry”. Comment on the statement. Also discuss the some sources of monopoly? [2+4=6 Marks]

(250-300 Words)

Q2. Discuss the similarities and dissimilarities between monopoly and monopolistic competition along with suitable examples. [4+4=8Marks] (300-350 Words) Q3. A cartel is a formal agreement between companies to control the price of a commodity. Comment on the statement and describes why cartels are formed? What are the difficulties of forming cartels and mention factors necessary to establish it? [2+2+2=6 Marks] (250-300Marks)

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EHU-501/Mr.Manish Kumar,Mr Sameer Rastogi,Ms.Somya Pandit,Ms.Kanchan Agarwal,Mr.Gourav Srivastava Date: 29/10/12 1



(Session: 2012-13)


Time: 1 hour Max. Marks: 30 Marks Roll No.



[10 Marks] Q1.On the basis of competition, a market can be classified in various ways. Briefly explain all the forms of market structure. (Q. No. 11) [5 Marks] (200-250 Words) Q2. “The practice of charging differing prices for the same products to different customers/markets is called price discrimination.” Whether price discrimination is justified? Give some examples of price discrimination in our day to day life.

(Q. No. 3) [3+2=5 Marks]

(200-250 Words) Part – B


(250-300 Words)

Q2. Discuss the similarities and dissimilarities between monopoly and monopolistic competition along with suitable examples. [4+4=8Marks] (300-350 Words) Q3. A cartel is a formal agreement between companies to control the price of a commodity. Comment on the statement and describes why cartels are formed? What are the difficulties of forming cartels and mention factors necessary to establish a Cartel? [2+2+2=6 Marks] (250-300Marks) _________X__________



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(Session: 2012-13)


Time: 1 Hour Max. Marks: 30Marks Roll No.



[10 Marks] Q1. “Duopoly is considered as the limiting case of oligopoly. The common characteristics of such model of duopoly is that they assume certain pattern of reactions of competitors in each period.” Justify the statement by explaining what is duopoly. How do the duopolistic react to each other? (Q. No. 13) [2.5+2.5=5 Marks] (200-250 Words) Q2. “oligopoly, is the form of imperfect competition.” Explain. (Q. No. 6) [5 Marks]

(200-250 Words)

Part – B [20 Marks]

Q1. “Barrier to entry describes the disadvantages of potential entrants relative to established firms in an industry”. Comment on the statement. Also discuss the some sources of monopoly? [2+4=6 Marks]

(250-300 Words)

Q2. Discuss the similarities and dissimilarities between monopoly and monopolistic competition along with suitable examples. [4+4=8Marks] (300-350 Words) Q3. A cartel is a formal agreement between companies to control the price of a commodity. Comment on the statement and describes why cartels are formed? What are the difficulties of forming cartels and mention factors necessary to establish a Cartel? [2+2+2=6 Marks] (250-300Marks)



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B.Tech. [SEM V (CS,EN,ME,IT,EC,CE) QUIZ TEST-4

(Session: 2012-13)


Time: 1 Hour Max. Marks: 30Marks Roll No.



[10 Marks] Q1. A firm’s demand curve under oligopoly is downward sloping from left to right but is kinked and the kink is at the current price level. What is the assumption behind the kinked demand curve? (Q. No. 7) [5 Marks] (200-250 Words) Q2. “Monopoly and perfect competition market structures are the two extreme market structures.” Justify this statement with suitable example. (Q. No. 9) [5 Marks] (200-250 Words)

Part – B [20 Marks]

Q1. “Barrier to entry describes the disadvantages of potential entrants relative to established firms in an industry”. Comment on the statement. Also discuss the some sources of monopoly? [2+4=6 Marks]

(250-300 Words)


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(Session: 2012-13)


Time: 1 hour Max. Marks: 30 Marks Roll No.



[10 Marks] Q1. Differentiate between perfect and monopolistic competition. (Q. No. 15) [5 Marks] (200-250 Words) Q2. When a product is launched prices of the products are set. Generally there are various policies for the pricing practice. Distinguish between penetration pricing and skimming pricing policies. (Q. No. 5) [2+3=5 Marks] (200-250 Words)

Part – B


(250-300 Words)


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quiz test-1

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