MFSHM-105

I SEMESTER MBA IN FIRE SAFETY HAZARD MANAGEMENT

EXAMINATION, MARCH 2015
MANAGERIAL ECONOMICS

TIME: 3.00 Hours

Maximum Marks: 80

Instruction to Candidate:
1) Section- A is Compulsory. Each question carries Three Marks.
2) Section-B: - Attempt any three questions. Each question carries Five Marks.
3) Section-C:-Attempt any five questions. Each question carries Ten Marks.

Section-A
(5 x 3=15)

Q 1) Fill in the blanks.

a(i) is the most comprehensive measure of the level of the
aggregate economic activity in an economy.
a.)

Interest

b.)

National Income

c.)

Profit

d.)

Depreciation

ii) is the extra cost of producing one additional unit.

a.)

Marginal Cost

b.)

Total Variable Cost

c.)

Average Cost

d.)

Total Fixed Cost

b (i) Answer in one word(i)

What is the phenomenon which is caused by a combination of high and

accelerating inflation and high unemployment.

(ii) A market structure, which comprises of a single seller or producer.

c) Complete the following identities(i) GNP at market prices-Indirect taxes+ Subsidies=
(ii) GNP=NNP+..
d)

Define any two of the following1

P.T.O

(i) Sunk Cost

(ii) Inflation
(iii) Disposable Income
e) State & explain the law of diminishing marginal utility.

Section- B
(3 x 5=15)

Q 2) Write Short notes on any Three of the following:a. Price discrimination

b. Breakeven analysis
c. Monetary Policy
d. Elasticity of demand

Section- C
(Answer any five in detail)

(5 x 10=50)

Q3) What is inflation? Discuss its various types. Explain in detail any three
measures undertaken to control inflation.
Q4) What is national income and why do we need to measure it? Explain in detail
various approaches to measure it.
Q5) Discuss the classical theory of employment. (Use diagram). Also, discuss in
brief, Keynes criticism of the classical theory.
Q6) State the demand theory and the demand function. Discuss in detail, the
determinants of demand.
Q7) State the meaning and importance of perfect competition. What are the
features of this form of market structure?
Q8) Write short notes on the following costs incurred by a firm in the short run:1. Total Cost
2. Total Fixed Cost
2

P.T.O

3. Total Variable Cost

With the help of diagrams explain the relationship between these three costs
in the short run.
Q9) What is managerial economics? Discuss the nature and scope of managerial
economics.
Q10) Explain the aggregate supply-aggregate demand model of Keynes. State a
few points highlighting the importance of the multiplier.

P.T.O