BBA IB 23302 Microeconomics Question Bank PDF

+-----------------------------------------------------------------------+ | **BBA IB 23302 Microeconomics** | +=======================================================================+ | **Unit 1** | +---...

+-----------------------------------------------------------------------+ | **BBA IB 23302 Microeconomics** | +=======================================================================+ | **Unit 1** | +-----------------------------------------------------------------------+ | 1. What are the basic economic problems? How are they addressed in | | different economic systems? | +-----------------------------------------------------------------------+ | 2. Define economic systems. Briefly describe any two types with key | | features and real-world examples. | +-----------------------------------------------------------------------+ | 3. Analyze the differences between microeconomics and | | macroeconomics. How do they complement each other in economic | | decision-making? | +-----------------------------------------------------------------------+ | 4. Define economics. Discuss the nature and scope of economics. | +-----------------------------------------------------------------------+ | 5. Explain the concept of the invisible hand by Adam Smith and its | | relevance in modern economics. | +-----------------------------------------------------------------------+ | 6. Explain the principles of how people make decisions in economics. | +-----------------------------------------------------------------------+ | 7. Explain the principles of how people interact in an economy. | +-----------------------------------------------------------------------+ | **Unit 2** | +-----------------------------------------------------------------------+ | 1. Explain characteristics of utility with suitable examples and | | differentiate between cardinal and ordinal approaches to utility | | optimization. | +-----------------------------------------------------------------------+ | 2. What is the law of diminishing marginal utility? Illustrate with | | an example. | +-----------------------------------------------------------------------+ | 3. Discuss the law of demand with an example. Discuss the | | assumptions of and exceptions to the law. | +-----------------------------------------------------------------------+ | 4. Discuss the law of demand with an example. Discuss the demand | | determinants. | +-----------------------------------------------------------------------+ | 5. Explain the difference between contraction and decrease in demand | | with the help of diagrams. | +-----------------------------------------------------------------------+ | 6. Explain the difference between expansion and increase in demand | | with the help of diagrams. | +-----------------------------------------------------------------------+ | 7. Explain price elasticity of demand and explain its types with the | | help of diagrams and suitable examples. | +-----------------------------------------------------------------------+ | **Unit 3** | +-----------------------------------------------------------------------+ | 1. Discuss the law of supply with an example. Also discuss the | | determinants of supply. | +-----------------------------------------------------------------------+ | 2. Discuss the law of supply with an example. How does market | | equilibrium occur? | +-----------------------------------------------------------------------+ | 3. Discuss the law of supply with an example. Also discuss the | | exceptions/ limitations of supply. | +-----------------------------------------------------------------------+ | 4. Discuss the law of supply with an example and differentiate | | between individual supply and market supply. | +-----------------------------------------------------------------------+ | 5. Explain the difference between expansion and increase in supply | | with the help of diagrams. | +-----------------------------------------------------------------------+ | 6. Explain the difference between contraction and decrease in supply | | with the help of diagrams. | +-----------------------------------------------------------------------+ | 7. Explain price elasticity of supply and explain its types with the | | help of diagrams. | +-----------------------------------------------------------------------+ | **Unit 4** | +-----------------------------------------------------------------------+ | 1. What are fixed, variable, and total costs? Explain their | | significance with example. | +-----------------------------------------------------------------------+ | 2. Examine the implications of fixed and variable costs on a firm\'s | | production and pricing decisions. | +-----------------------------------------------------------------------+ | 3. Explain accounting costs and economic costs with example. | +-----------------------------------------------------------------------+ | 4. Compare accounting costs and economic costs, and evaluate their | | significance in decision-making for a business, using appropriate | | examples. | +-----------------------------------------------------------------------+ | 5. Analyze the various types of economies of scale and evaluate | | their role in achieving cost efficiency. | +-----------------------------------------------------------------------+ | 6. Discuss the relevance of understanding economies and diseconomies | | of scale in strategic business planning. | +-----------------------------------------------------------------------+ | 7. Examine how economies of scale can lead to cost efficiency and | | give examples from industries where this principle is evident. | +-----------------------------------------------------------------------+ | **Unit 5** | +-----------------------------------------------------------------------+ | 1. Discuss the characteristics of perfect competition with examples. | +-----------------------------------------------------------------------+ | 2. Discuss the characteristics of monopolistic competition with | | examples. | +-----------------------------------------------------------------------+ | 3. Evaluate the role of monopolistic competition in fostering | | innovation and consumer choice. | +-----------------------------------------------------------------------+ | 4. Explain forms of price leadership in oligopoly markets with | | examples. | +-----------------------------------------------------------------------+ | 5. Compare the features of oligopoly and monopolistic competition. | +-----------------------------------------------------------------------+ | 6. Analyze the advantages and disadvantages of monopoly market. | | Provide suitable examples. | +-----------------------------------------------------------------------+ | 7. Compare the features of perfect competition and monopoly | +-----------------------------------------------------------------------+