Economics Question Bank - 772 Words

Velammal Institute of Technology Department of Computer Science and Engineering MG2452- Engineering Economics and Financial Accounting Question Bank Part A: 1. Define economics 2. Define managerial economics. 3. Define micro economics 4. Define macroeconomics 5. Differentiate micro and macroeconomics 6. Draw economic circle. 7. State the subject matter of economics. 8. What is scarcity? 9. What is firm? 10. What are the objectives of firm? 11. What are the types of firms? 12. What is sole proprietorship? 13. What is partnership firm? 14. What is FOP? 15. What are the main areas of focus in managerial economics? 16. What is demand? 17. What is demand function? 18.†¦show more content†¦52. What is the slope of isocost line? 53. What is meant by optimum input combination? 54. What is producers’ equilibrium? 55. What is meant by firms’ expansion path? 56. State the equation of isocost line. 57. What is cost? 58. What is cost function? 59. Define opportunity cost. 60. Define money cost. 61. State the uses of LAC curve. 62. What are the determinants of cost? 63. What is meant by division of labor? 64. Define clos ing stock 65. Define outstanding expenses 66. Define prepaid expenses 67. Define outstanding expenses 68. Define accrued incomes 69. Define Bad debts 70. What is market? 71. What are the different market structures? 72. Mention the features of market? 73. What is perfect competition? 74. What is monopoly? 75. What is duopoly? 76. What is oligopoly? 77. What is monopolistic competition? 78. What is skimming strategy? 79. What is penetration strategy? 80. What is meant by loss leader? 81. What is price discrimination? 82. What is marginal cost pricing? 83. What is price leadership? 84. What is cost plus pricing 85. What is tender pricing? 86. Differentiate managerial and micro economics. 87. What are the main divisions of economics? 88. What is the value of the firm? 89. Why does firm exist? 90. What is the boundary of the firm? 91. 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