Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Define the utility maximizing rule. Use utility maximizing rule to find out a consumer’s spending when given income, utility, and price data.
List four major determinants of price elasticity of demand. Explain how a change in each of the determinants of price elasticity would affect the elasticity coefficient.
What do you meant by the term Functional organizational structure? State any two benefits and two drawbacks of such structures.
There are many objectives of business and economics which are one among them. Describe these economic objectives.
As controlling ‘the end’ of management functions cycle? Give reason to support your answer.
Describe the meaning of deficit in the Balance of Payments.
How can budgetary policy are utilized for reducing in the equalities in income and wealth?
Describe the likely behavior of Total Product and Marginal Product when for rising production only one input is raised while all the other inputs are kept constant.
Describe the implication of product differentiation feature of the monopolistic competition.
What causes an upward movement all along a demand curve of a commodity?
Illustrate the meaning of Nominal GDP and Real GDP. Which of such is the indicator of the economic welfare?
Describe the relation between marginal revenue and average revenue if a firm is capable to sell more quantity of output
Describe the shape of a production possibility frontier. Describe the Central problem ‘how to produce’.
What will be the impact of raise in the excise duty on the Equilibrium Price and Quantity of a Commodity? Illustrate by using a diagram.
Describe the determination of the Equilibrium Price under Perfect Competition with the aid of Schedule.
By using a hypothetical illustration, describe how the Market Supply Curve is determined from Individual Supply Curve of the three firms?
The Price elasticity of Supply of a commodity is 2. If its price drops from Rs 10 to 8 per unit, its Quantity Supplied drops by 500 units.
Illustrate when the Elasticity of Supply of commodity is equivalent to Unity?
Clearly describe the relationship between Poverty, Economic Growth and Inequality. Using instances of Least Developed Countries, describe the causes and consequences of market failures.
Discuss and explain the implications of this regime for emerging countries like Mauritius. Describe why the policy rule is not credible and discuss the solutions to overcome this problem.
Describe the term inflation and elaborate on the dissimilar types and causes of inflation. How are inflation measured and why a high rate of inflation is considered to be a major problem?
What do understand by the law of diminishing returns? Make a distinction between fixed and variable costs, using instances.
Explain the concept price discrimination? Discuss the views which price discrimination always operates in public interest.
Write down the steps which are involved in consumer decision process? Describe the Howard, Engel Kollat and Blackwell model of consumer behaviour.
Distinguish between ‘static efficiency’ with ‘dynamic efficiency’. Write down the benefits and costs of conserving forests.