Economics Question Bank

Topics: Economics, Supply and demand, Microeconomics Pages: 4 (762 words) Published: September 7, 2011
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. What are related goods?
19. What are the determinants of demand?
20. State the law of demand.
21. Why does demand curve slope downwards?
22. What are the types of demand?
23. Define price demand.
24. Define income demand
25. Define cross demand.
26. Define autonomous demand.
27. Define derived demand.
28. What is elasticity of demand?
29. Define price elasticity of demand.
30. Define income elasticity of demand.
31. Define cross elasticity of demand.
32. State the measures of price elasticity.
33. Mention the methods of measuring price elasticity.
34. What is supply?
35. What is law of supply?
36. State the factors affecting supply.
37. Define elasticity of supply.
38. State the factors determining elasticity of supply.
39. What is demand forecasting?
40. What is Delphi technique?
41. What is regression and correlation?
42. What is test marketing?
43. What is production function? State its managerial uses. 44. State the types of production function.
45. What is meant by returns to scale?
46. State Cobb-Douglas production function.
47. What is economies and diseconomies of scale?
48. What are Isoquants?
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