(Please wrtte your Exam RollNo.) Exam Roll No. u9B....
END TERM EXAMINATION
FIFTH SEMESTER (B.TECH] JANUARY 2024
Paper Code: HS-301 Subject: Economlcs for Engineers
Time: 3 Hours Maximum Marks: 75
Note: Attempt flve questtons in all tncuding Q. No. 1 whlch ts
compulsory. Select one question from each untt.
Q1 Answer the following questions briefly: -
(a) Elaborate resource constraint as an economic problem. (3)
(b)Justify how indifference curve helps in understanding consumer's
choice. (3)
(c) What is oligopoly market. (3)
(d) Define NNP, GNP, GDP. (3)
(e) State the Law of Demand. (3)
UNIT-I
Q2 (a) List the differences between Microeconomics and Macroeconomics. (5)
(b) List the factors effecting demand and supply. (5)
(c) Explain how Production Possibility Curve helps in product choice
decisions. (5)
does it
Q3 (a) Explain the circular flow of income in an economy. What
measure? (8)
(b) Explain the elasticity of demand and supply with example. (7)
UNIT-I
(a) How Cardinal and Ordinal utilityare used to
analyze consumer
Q4 (8)
behaviour.
features demand forecasting.
(b) What is demand forecasting? List the (7)
How it proves a useful tool for decision makers.
(a) List different methods of demand forecasting. Explain any two
Q5 (8)
quantitative methods of demand forecasting.
(7)
(b) Explain about consumer equilibrium.
UNIT-III
classified? Explain any two important
Q6 (a) Define Cost'. How are costs decisions. (8)
cost concepts useful for managerial (7)
competition.
(b) Distinguish between monopoly and perfect
diseconomies of scales. (8)
Q7 (a) Define economics of scales and and monopolistic
(b) Differentiate between perfect competition (7)
competition?
UNIT-IV
macroeconomic issues directly related to business
Q8 (a) What are the major (8)
decision making? (7)
cycle?
(b) Explain different phases of business
the features and types of inflation. (8)
(a) What is inflation. Briefly explain
Q9 in calculating national income? (7)
(b) Explain different approaches used
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