PYQP BUSINESS ECONOMICS II PDF - 2022

(4gfre) Section-B (Obiective) COMI19 B.Com. 2nd SEMESTER EXAMINATION, 2022 B.Com. (Business Economics-1) Credit (...

(4gfre) Section-B (Obiective) COMI19 B.Com. 2nd SEMESTER EXAMINATION, 2022 B.Com. (Business Economics-1) Credit (3+0) AFFIX PRISCRIBED RUBBER STAMP (CBCS Mode) Paper ID (Jote filled sn the Date (fafA) : 0MP ShouA) 5083 Roll No. (In Figures) Roll No. (In Words) : Max. Marks : 60 Time : 1% Hrs. aftoa H¢ : 6 Important Instructions : S25 e 1. The candidate will write his ber Roll Number. only at the places provided for. ie. on the cover page and on the OMR answer sheet at the end and rowhere ctse 2. immediately on receipt of the question booklet. 2. the candidate should clheck up thc booklet and ensurc that st contains all the pages and that n0 quesiion is missing If the candidatc finds 2ny Jiscreparcy in thc question booklct. he she shouid report the invigilator within l0 minute af the issue of this booklet and a fresh qustion hooklet without any discrepancy be obtained  1. Perfect competition is an Industry with : (A) (A) A few firms producing identical goods (3) (B) Many firms producing goods thal somewhat differ (C) A few firms producing (C) goods that differ somewhat in quality (D) (D Many firms producing identical goods 2. Firms use marketing to : 2. Influence a consumer's (A) (A) buying decision (B) Convincc customers that (B) their product is worth its price (C) Persuade buyers that their product is superior to (C) other ( P All of above (D) 3 In perfcct complction, the 3. clasticity of denand for tlhe product of asingle firm is : 4n Infinite, because Of (A) ldentical products (B) Zero, becausc of ldentical (B) products (C) Zero, because of unique (C) product Infinite, because io (D) (D) uniquc product S083 COMI19 Page - 3  detetmined at 4. P'ice of oodsis a pointwherc (A) Denand Supply (A) (B) (B) Demand Supply (C) Demand Supply None of these (D) (D) 5. Profitis : Total Fcononie revene mipus total (A Total (A) COst opportunity Marginal revenuc MInuIS (3) (B) marginal cost (C) Total rcvenuc dividcd by (C) total cost (D) Marginal revenue divided (D) by marginal cost 6 For afirmn it Perfect Competition 6 a diagram shows Quantity on horizontal axis & both MR and MC of a firm on vertical axis. The firin's profit maximising quantity occurs al a point where: (A) Gg MC q R MR Gh MC curvc intersect MR from above (B) Slope of MC curve is (B) G MC qc5 MR q5 Zero (C) Curve intersect MR from below (D) MC 3iÌr MR q# YHHTR (D) MC and MR urves are parallel S083 Page - 4 (OMI19  of supply 7. The concept CUrve is 7. relevant only for: (A) (A) Monopoly (B) Monopolistic compctition (B) C)" Perfectcompetition (C) (D) Oigopoly (D) In perfect competition, since tlhe 8, firnn is a price takcn, the curve is straight ling. (A) Total cost (A) (B)" Marginalcost (B) (C) Total revenue (C) quj 314 (D) Marginal revenue (D) 9. Which On 1S feature of 9. monopolistic competition ? fagrgI? (A) Differentiated product (A) (B)" Selling cost (B) (C) Imperfect knowledge of the market (C) (D AIlof above (D) 10. Which of the following market 10. types has a large number of firms that sell similar but.slightly different products ? (A) (A) Perfect competition (B) (B) Oligopoly (C) (C). Monopolistic competition (D) (D) Monopoly 5083 Mc ARCOMI9 Page - 5  11. Market situation where there is only onc buycr is : (A) Monopoly (A) (B) Monopsony (B) (C) Duopoly (C) (D) None of these (D) 12. In the short run, perfectly 12. competitive firm can : (A) (A) Earn a normal profit (B) (B) Incur an cconomic loss (C) (C) Earn an economic profit (D) Earn an economic profit, (D) earn a normal profit or incur an economic loss 13. Firm's demand Curve under 13. monopoly shows : (A (A) Non relationship between price and demand (B nverse relationship (B) betwecn price and demand (C) Positive relationship (C) between price and demand (D) None of these (D) S083 COMI19 Page - 6  Charging different prices from l4, different buyers for the samc called : goods is Price extension (A) (A) Price contraction (B) (B) (C) Price discrinination (C) Price control (D) (D) X Which characteristic of monopolistic competition is compatible with monopoly ? (A) One seller and (A) large number of buyer (B) Full control over price Demand curve (B) (C) slopes downward (C) (D)r Freedom of entry and exit (D) Which market induces cartels ? 16. (A) Perfect competition (A) (B) Monopoly (B) (9 Oligopoly (C) (DD None of them (D) Compared with monopolistic 17. competition, a firm's demand curve under monopoly is : (A) (A)" Equally elastic Less elastic (B) (C) More elastic (C) (D) Infinitely elastic (D) 83 COMI19 Page - 7  refer, J8. The terO) busineNs cycle l0: (A)« Fluctuatio1S in agprcpate cconomic nclivily ove i) (B) Thc ups and lowos production of oods (13) Dcclinc in CCononnic (C) activitics (D) Incrcasing uncmploymcnt (D) rate 19. Grcatest deprcssion suflercd by J9. cconomy in which ycar: (A) 1924 (A) 1924 (B)" 1930 (B) 1930 (C) 2008 (C) 2008 (D) 2009 (D) 2009 20. The business cycles Or the 20. periodic booms and slumps in cconomic activitics reflcct the in cconomic activities, 3(A) Upward movcments (A) (B) Downward movcments (B) (C)e Upward and downward movemcnts (C) (D) Extreimc rise (D) 5083 COMI19 Page - 8 A) (8} Exnsim (4 (3) (B) (D) RverN The wst NinN in bsi Exnanson Bam (B) Pak (Dle Trvugh D) COMII9  25 Industries that are extremely 25. sensitivc to busincss cyclc are the : (A) Durable goods and (A) service sectors (B) (B) Non-durable goods and service sectors (C) (C) Capital goods and non HIHJT durable goods (D) (D) Capital goods and durable goods sectors 26. Features of business cycles 26. include : (A) (A) HHY-Hs (Periodically) Periodically (B) Have different phases (B) (C). Originate in free market (C) economy (D) All of above (D) 27.y A firm should shut down in the 27. short run if it is not covering its: , (AYVariable cost (B) Fixed cost (A) (C) Total cost (B) (D)" Explicit cost (C) (D) 5083 COMI19 Page - 10  phascs of Busincss eycle is The inportantfor: Making nanagerial (A) (A) decisions regariding cxpansion or down sizing (B) A new business to dccide (B), on entry into the market The success of a ncw (C) (C) product (D) Allof above (D) Intheshort run, when the output 29. 29. of ffm increaseS, its average fixcd cost: Increases (A) (A) (B) Decreases (B) (C)" Remain constant First decline and then (C) (D) (D) rises 30. According to Keynes, Interest is 30. a payment for : (A) (A) Use of durable goods (B) (B) Use of capital (C) (C), Use of money (D) Use of land 5083 COMI19 Page - ||  WI 31. » With which of the theories of 31, IVages is the nae of John Sturt ch fac Hill associaled " (A (AN Marginal productivity (A) (B theory (C (B) (B) Wage fund thcory (C) Subsistence theory of (C) (D vages (D) (D) Iron law of wagcs TÈ 32. Profit is also known as : 32, (A) Contractual Rent ? (E (B). Residual Income (A) ( (B) (C) Net Income ([ (C) (D) Nonc of above 36 ( 33. Under Marginal productivity 33. (I thcory, reward for labour is determined by : (A) (A) Owner 37.9 I (B) (B) Labour (C) (C) Government (D), Marginal product (D) S083 COMII9 Page - 12 S083  Which of the (ollowing is a 34. chacteislic of capital loctor ofproduction Iisfixedin supply (A) Inever depreciate (B) (B) 0s psSIVe lactor of (C) production (D) is an active factor of (D)o I production uncertainty bcaring thcory of 35. The was propound by : profit H. Knight (A) (A) F. F.B. Ilawley (B) (B) P.A. Samuclson (C) (C) (D)" Joseph Schumpeter (D) These are kind of Rent except : 36. 36. Differential Rent (A) (A) Scarcity Rent (B) (B) (Go Mobility Rent (C) Location Rent (D) (D) 37. 37. y Intcrest is paid becausc: (AJ Capital is scarcc Capital is productive (B) (B) Capital is attractive (C) uf T746 (C) (D) Capital is surplus (D) u 3nfrRy COMI19 Page - 13 5083