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Business Economics (Retail)


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NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Business Economics

Internal Assignment Applicable for April 2023 Examination

Assignment Marks: 30


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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