Business Economics (Retail)

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Business Economics

Internal Assignment Applicable for April 2023 Examination

Assignment Marks: 30

Instructions:

All Questions carry equal marks. All Questions are compulsory

All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.

All answers to be written individually. Discussion and group work is not advisable.

Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.

Students should write the assignment in their own words. Copying of assignments from other students is not allowed.

Students should follow the following parameter for answering the assignment questions.

 

For Theoretical Answer

Assessment Parameter	Weightage
Introduction	20%
Concepts and Application related to the question	60%
Conclusion	20%

For Numerical Answer

Assessment Parameter	Weightage
Understanding and usage of the formula	20%
Procedure / Steps	60%
Correct Answer & Interpretation	20%

1. “The technique of indifference curves has been used not only to explain consumer’s behaviour and demand but also to analyse and explain several other economic problems “In view to the above statement elaborate about indifference curve and its properties. (10 Marks)

 

1. Find below hypothetical data for total production costs of a manufacturing firm at various levels of output. Complete the following: (10 Marks)

Output	Total cost	Fixed cost	Variable cost	Average	Average	Average
				fixed	variable	cost
				cost	cost
0	1000	1000
20	1200	1000
40	1300	1000
60	1380	1000
100	1600	1000

1. a. Large scale production is considered to be economical in the sense of per unit cost. Explain the statement by describing different types of economies of scale. Give examples to substantiate your answer (5 Marks)

1. b. Elaborate Cross Demand, Composite Demand and Derived Demand and cite an example to enumerate these types of demand. (5 Marks)

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