MES KALLADI COLLEGE

FIRST SEMESTER BBA INTERNAL EXAMINATION

MANAGERIAL ECONOMICS
Time: 2Hours Maximum: 50 marks
Fill in the blanks
(Each question carries one mark)
1. -------- is regarded as the father of managerial economics
2. The law of ----------- is called the second law of market
3. --------- means the degree of responsiveness of demand to the change in
price.
4. The law of variable proportion was first explained by---------
5. Experts opinion method is popularly called-------------
Answer the following
(Each question carries two marks)
6. Define Economics
7. Give two objectives of demand forecasting
8. What is cross elasticity?
9. State the law of demand
10.State the Cobb Douglas production function.
Short essay questions answer any five
(Each question carries four marks)
11. Define production. What are the managerial uses of production function?
12.State and illustrate the law of variable proportion
13.What are the steps involved in demand estimation
14. Why demand curve slope downwards?
15.What are the different types of demand?
16.What are the objectives of managerial economics?
Essay question answer any one
(Carries 15 marks)
17.State the law of variable proportion. What are its assumptions? Explain its
importance also.
18.Define the concept of elasticity of demand. Discuss the various methods of
measuring the elasticity of demand.