Question1) Answer all the questions:
(i) List any two responsibilities of a managerial economist.
(ii) What is unitary elastic demand?
(iii) What is direct and indirect cost?
(iv) What do you understand by fiscal deficits?
(v) Write down any two functions of RBI?
Question2) What is oligopoly and what are its characteristics?
Question3) Explain the changing role of commercial Banks?
Question4) Describe the problem while calculating national-income. Also describe the relationship of national income and welfare of people.
Question5) Answer all the questions:
(i) What do you mean by Monopoly.
(ii) What is consumer’s surplus?
(iii) Define law of increasing returns.
(iv) What do you understand by Union Budget?
(v) Mention any two instruments of monetary policy?
Question6) Explain managerial economics? Briefly explain its characteristics.
Question7) What are the challenges faced by service sector in India.
Question8) Describe the law of demand. Distinguish between contraction and extension in demand and decrease in demand and increase in demand.