Name of the University : Uttarakhand Open University
Degree : B.Com
Subject Code/Name : BC05 Business Economics
Year :I
Document Type : Old Question Papers
Website : uou.ac.in
Download Model/Sample Question Paper : https://www.pdfquestion.in/uploads/uou.ac.in/4390.-BC-05.pdf
UOU Business Economics Question Paper
B.Com. (Bachelor of Commerce)
First Year, Examination – 2012
Time : 3 Hours
Related : Uttarakhand Open University BC03 Business Law Old Question Papers : www.pdfquestion.in/4389.html
Maximum Marks: 60
Note : This paper is of sixty (60) marks divided three (03) sections. Learners are required to attempt the questions contained in these sections according to the detailed instructions given therein.
SECTION – A
(Long-answer – type questions)
Note : Section ‘A’ contains four (04) long-answer-type questions of fifteen (15) marks each. Learners are required to answer two (02) questions only.
1. Explain the difference between marginal utility and total utility. Illustrate the relationship between the two with the help of a suitable table and diagram.
2. What do you understand by indifference curve? Explain four important characteristics of indifference curve?
3. Define the concept of elasticity of demand. What is the importance and business use of elasticity of demand?
4. What do you understand by monopolistic competition? Differentiate between perfect competition and monopolistic competition.
SECTION – B
(Short – answer – type questions)
Note : Section ‘B’ contains eight (08) short- answer type questions of five (05) marks each. Learners are required to answer four (04) questions only. Answers of these questions must be restricted to two hundred fifty (250) words
1. Explain the characteristics of oligopoly.
2. What are the characteristics of monopoly-
3. What are the problems of measurement of national income-
4. Explain the relationship between average and marginal revenue in perfect competition.
5. Explain the law of equi-marginal utility .
6. 5.6 Explain various types of economic systems.
7. What is the scope of Business Economics?
8. Explain the rent theory of profit?
SECTION – C
(Objective – type questions)
Note : Section ‘C’ contains ten (10) objective –type questions of one (01) mark each. All the questions of this section are compulsory.
Indicate whether the following are true or false;
1. Indiffernce curves neither touch nor intersect each other.
2. Mixed economy is a combination of Capitalist and Socialist Economies.
3. Law of diminishing marginal utility states that the marginal utility remains constant irrespective of additional units consumed.
4. he rate at which the currencies of two countries are exchanged is called the exchange rate. (T/F)
5. GNP = GDP + (Net factor income from abroad) (T/F)
6. In the Kinked Demand Curve theory it is assumed that:
(a) An increase in price by the firm is not followed by others
(b) An increase in price by the firm is followed by others
(c) A decrease in price by the firm is not followed by others
(d) Firms collude to fix the price
7. If a few firms dominate an industry; the market is known as:
(a) Monopolistic competition
(b) Monopoly
(c) Duopoly
(d) Oligopoly
8. In monopolistic competition:
(a) Firms face a perfectly elastic demand curve
(b) All products are homogeneous
(c) Firms make normal profits in the long run
(d) Firm is the price-taker.
9. In monopoly which of the following is not true?
(a) Products are differentiated
(b) There is freedom of entry and exit into the industry in the long run
(c) The firm is a price maker
(d) There is one main seller
10. Economic growth of a nation can be measured by which of the following?
(a) CPI
(b) WPI
(c) GDP
(d) Inflation rate
First Year Examination-2015 :
B.C.-05 Business Economics :
Section – A : (Long Answer Type Questions)
Note : Section ‘A’ contains four (04) long-answer-type questions of fifteen (15) marks each. Learners are required to answer any two (02) questions only. (2×15=30)
1. What do you understand by demand? Why do demand curyes slope downwards to right? Are there any exceptions to it?
2. Explain the equilibrium of a monopoly firm? Show that the price fixed by the monopolist is less than marginal cost of production.
3. Explain in detail the marginal productivity theory of distribution.
4. Discuss the following;
a. Meaning and characteristics of indifference curves.
b. Income effect, substitution effect and price effect.