Engineering and managerial economics :- Important questions
Q1. Explain the Meaning, nature and scope of Economics. Briefly explain the two major branches of Economics
Q2 Write down a 5 point of difference between macroeconomics and microeconomics.
Q3 Define engineering, science and Technology? How does the three contribute to the economic development of a country.
Q4 “Managerial economics is economics applied in decision-making.” Explain.
Q5.What is managerial economics? How does it differ from traditional economics?
Q6. Critically evaluate the impact of technology on the economic development of a country.
Q7. Explain the various functions and responsibilities of managerial economist
Q8 Write Short Notes on:-
a) Engineering & Science
b) Sloping downward of Demand Curve
c) Various steps in demand forecasting.
d) The concept of Elasticity of Demand
e) External Economies
Q9. What do you mean by Returns to a scale? What are the applications of this law?
Q10. What do you mean by market? Briefly explain the various types of Market Structures.
Q11. Explain the following concept:-
(i) Price Elasticity of demand
(ii) Income Elasticity of demand
Q12. Explain determinants of Demand. What is demand forecasting? What is its purpose & significance in business organization?
Q13 State the Law of variable proportion. What are the applications of this law?
Q14. Economic Development of any country is closely associated with Science, Engg & technology. Elaborate this statement and elucidate the role of science, engg & technology in the economic development.
Q15 What useful information do these concepts of elasticity provide to the management?
Q16 Explain Internal Economies of Scale.
Q17 i) Fixed Cost
ii. Variable Cost
iii. Average Cost
iv .Marginal Cost
Q18 Define Monopolistic Competitive market. What type of demand curve does a firm have under Monopolistic Competitive Market?
Q19 Define Perfectly Competitive Market. What type of Demand Curve does a firm have under perfect competition?
Assignment Questions
Q1 What useful information do these concepts of elasticity provide to the management?
Q2 Explain Internal Economies of Scale.
Q3 i) Fixed Cost
ii. Variable Cost
iii. Average Cost
iv .Marginal Cost
Q4 Define Monopolistic Competitive market. What type of demand curve does a firm have under Monopolistic Competitive Market?
Q5 Define Perfectly Competitive Market. What type of Demand Curve does a firm have under perfect competition?
Q1. Explain the Meaning, nature and scope of Economics. Briefly explain the two major branches of Economics
Q2 Write down a 5 point of difference between macroeconomics and microeconomics.
Q3 Define engineering, science and Technology? How does the three contribute to the economic development of a country.
Q4 “Managerial economics is economics applied in decision-making.” Explain.
Q5.What is managerial economics? How does it differ from traditional economics?
Q6. Critically evaluate the impact of technology on the economic development of a country.
Q7. Explain the various functions and responsibilities of managerial economist
Q8 Write Short Notes on:-
a) Engineering & Science
b) Sloping downward of Demand Curve
c) Various steps in demand forecasting.
d) The concept of Elasticity of Demand
e) External Economies
Q9. What do you mean by Returns to a scale? What are the applications of this law?
Q10. What do you mean by market? Briefly explain the various types of Market Structures.
Q11. Explain the following concept:-
(i) Price Elasticity of demand
(ii) Income Elasticity of demand
Q12. Explain determinants of Demand. What is demand forecasting? What is its purpose & significance in business organization?
Q13 State the Law of variable proportion. What are the applications of this law?
Q14. Economic Development of any country is closely associated with Science, Engg & technology. Elaborate this statement and elucidate the role of science, engg & technology in the economic development.
Q15 What useful information do these concepts of elasticity provide to the management?
Q16 Explain Internal Economies of Scale.
Q17 i) Fixed Cost
ii. Variable Cost
iii. Average Cost
iv .Marginal Cost
Q18 Define Monopolistic Competitive market. What type of demand curve does a firm have under Monopolistic Competitive Market?
Q19 Define Perfectly Competitive Market. What type of Demand Curve does a firm have under perfect competition?
Assignment Questions
Q1 What useful information do these concepts of elasticity provide to the management?
Q2 Explain Internal Economies of Scale.
Q3 i) Fixed Cost
ii. Variable Cost
iii. Average Cost
iv .Marginal Cost
Q4 Define Monopolistic Competitive market. What type of demand curve does a firm have under Monopolistic Competitive Market?
Q5 Define Perfectly Competitive Market. What type of Demand Curve does a firm have under perfect competition?
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