Q.

1 Define the following

1. Law of demand
2. Income Elasticity
3. Perfect Competition
4. Demand Forecasting
5. Supply
6. Economies of scale
7. Oligopoly
8. Demand Function
9. Monopoly
10. Price elasticity of Demand
11. Monopolistic Market
12. Demand
13. Demand Function

ANSWER THE FOLLOWING

1. Explain law of demand in detail.
2. Explain law of supply in detail.
3. Explain features of perfect competition
4. Explain features of monopoly market in detail.
5. What are the factors affecting demand?
6. What are the factors affecting elasticity of demand?
7. Explain law of supply in detail.
8. Explain concept of PPC in detail.
9. What are the types of economies of scale?

10. Calculate TC, AVC, AFC, ATC, MC from the following information given below ..when TFC is 150.
No of Units 1 2 3 4 5 6

TVC 20 30 50 60 75 90
11. Calculate TC, AVC, AFC, ATC, MC from the following information given below ..when TFC is 100.
No of Units 1 2 3 4 5 6

TVC 20 30 50 60 75 90
12. Calculate TC, AVC, AFC, ATC, MC from the following information given below ..when TFC is 200.
No of Units 1 2 3 4 5 6

TVC 20 30 50 60 75 90

13. The demand equation for Sugar is given as Qd=200-5p and the price of sugar is given in below table:
Price of sugar(Rs) Qty of demand(Kg)
5
10
15
20
25
Answer the following questions:
a. Calculate quantity of demand for sugar at given prices.
b. With the help of above demand schedule draw a demand curve.
The demand equation for Wheat is given as Qd =100 -5p and the price of sugar is given in below table:
 Price of Wheat(Rs) Qty of demand(Kg)
2
4
6
8
10

14. The demand equation for Pen is given as Qd = 10,000-5p and the price of sugar is given in below table:
Price of Pen (Rs) Qty of demand(Kg)

100
200
300
400
500
Answer the following questions:
a. Calculate quantity of demand for sugar at given prices.
b. With the help of above demand schedule draw a demand curve.

15. Calculate the price elasticity of demand with the help of following information.
Original New
Price(Rs.) 110 100
Quantity Demanded 200 280

SHORT NOTES
1. Types of demand
2. Features of monopoly
3. Types of Elasticity of demand
4. Factors affecting demand
5. Limitations of Demand forecasting
6. Types of Demand
7. Features of Monopoly
8. Types of Elasticity of Demand
9. Factors affecting demand
10. Limitation of Demand Forecasting
11. Types of demand
12. Limitations of demand forecasting
13. Perfect competition
14. Diseconomies of scale.
15. Types of elasticity of demand.