Dear Students, In this post, we have provided Gauhati University BCom 2nd Sem FYUGP Business Economics 2013, 2014, 2015, 2016, and 2017 Previous Year Question Papers which is very helpful for NEP FYUGP 2nd Sem Business Economics Students. [GU BCom Business Economics Question Paper in PDF]. If you want to read the question paper scroll down you will get a complete Question Paper.
Gauhati University Business Economics 2013, 2014, 2015, 2016, and 2017 Question Paper [GU BCom Business Economics Previous year Question Paper ] Can be a useful resource for exam preparation. You can you this question paper to understand the question paper pattern and analyse the basics structure of questions because sometimes it has been observed that Gauhati University asked questions from previous year questions.
An Overview of Business Economics Question Paper
| Name of the examination | Gauhati University B.Com FYUGP 2nd Sem Examination. |
| Course | B.Com |
| Subject Name | Business Economics |
| Subject Code | |
| Full Marks | 80 |
| Year | 2013, 2014, 2015, 2016 and 2017 |
| Official Website | https://www.gauhati.ac.in/ |
Gauhati University B.Com Business Economics Question Papers
Gauhati University Question Papers: Business Economics
(May-June’ 2013)
Gauhati University Question Papers
BUSINESS ECONOMICS (May-June’ 2013)
Full Marks: 80
Time Allowed: 3 hours
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1×10=10
a) Define business economics.
b) What is the slope of an average fixed cost curve?
c) Mention one factor affecting the individual demand for a commodity.
d) What is isoquants?
e) What is per capital income?
f) If supply is fixed, market price is determined by _____.
g) Total revenue is maximum, when marginal revenue is _____.
h) Give one reason for the need of a separate theory of distribution.
i) Name a commodity which has inelastic demand.
j) Define Profit.
2. Answer in brief (within 30 words): 2×5=10
a) Mention two importance of national income in Business Economics.
b) What is normal price?
c) Define production function.
d) What is dumping?
e) The demand curve slope downwards. Why?
3. Answer any four of the following (within 200 words): 5×4=20
a) Explain the nature of business economics.
b) Distinguish between accounting cost and economic cost.
c) Write a note on demand forecasting.
d) Explain the law of diminishing marginal rate of technical substitution.
e) What are the possibilities of price discrimination?
f) Explain the concept of cross elasticity of demand.
4. Answer the following (within 600 words):
a)Explain the laws of returns to scale with the help of isoquants. 10
Or
b) What do you mean by ‘national income’? Discuss its importance in business economics. 10
Or
What is price elasticity of demand? Explain different methods of measurement of price elasticity of demand. 2+8=10
c) What are the characteristics of monopolistic competition? Discuss the price and output determination process under monopolistic competition. 4+6=10
Or
“The problem before a firm under conditions of perfect competition is to determine its output only.” – Explain. 10
d) What is marginal revenue productivity of a factor? What does it play in determination of price of a factor of production? Explain. 4+6=10
Or
Discuss the dynamic theory of profit. 10
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Gauhati University Question Papers: Business Economics (May-June’ 2014)
Gauhati University Question Papers
BUSINESS ECONOMICS (May-June’ 2014)
Full Marks: 80
Time Allowed: 3 hours
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1×10=10
a) What is the root cause of economic problems?
b) Mention one characteristic of Business Economics?
c) What is excess capacity of a firm?
d) Define gross domestic product of a country.
e) Mention one determinant of demand.
f) Draw a demand curve showing cross elasticity of demand for substitutes.
g) What is marginal cost of production?
h) Law of variable proportions is relevant to _____ period.
i) The optimum size of a firm can exist only under _____.
j) According to “Profit Maximisation theory” of a firm, management decides output level which maximizes the difference between _____ and _____.
2. Answer in brief (within 30 words): 2×5=10
a) What are the two types of managerial problems?
b) Mention two properties of Isoquants.
c) What is selling cost?
d) What is discrimination monopoly?
e) Give two reasons for the need of a separate theory of factor pricing.
3. Answer any four of the following: (within 200 words) 5×4=20
a) Explain the scope of Business Economics.
b) Write a note on Opportunity Cost.
c) Discuss the differences between monopoly and perfect competition.
d) What is marginal revenue productivity of a factor? Explain.
e) Distinguish between gross profit and net profit.
f) Explain the marginal uses of cost function.
4. Answer the following within 600 words.
a) Explain the different types of elasticity of demand. State the importance of the study of elasticity of demand in Business Economics. 6+4=10
b) State and explain the law of variable proportion with the help of diagram. 10
Or
Discuss the modern approach of Cost. 10
c) What is Oligopoly? Explain the price and output determination process under oligopoly with the help of a model. 4+6=10
Or
How is an equilibrium price determined in a perfectly competitive market? Explain with the help of diagram. ` 10
d) What is profit? Discuss the different profit policies to be followed by the public enterprises. 10
Or
Explain Hawley’s theory of profit. 10
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Gauhati University Question Papers: Business Economics (May-June’ 2015)
Gauhati University Question Papers
BUSINESS ECONOMICS (May-June’ 2015)
Full Marks: 80
Time Allowed: 3 hours
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1×10=10
a) What is micro economics?
b) What is demand function?
c) If 48 units of output are produced and the total fixed cost is Rs. 180/- along with a total variable cost Rs. 300/-, what would be the average cost of production?
d) What is meant by equilibrium quantity?
e) What is Iso-quant?
f) Who bears cost?
g) If a firm produces two goods X and Y with given resources and price of good Y falls, supply of good X will _____.
h) Any individual production unit of a commodity is called _____.
i) The resources used in production are called _____.
j) What is rent?
2. Answer in brief (within 30 words each): 2×5=10
a) Mention two points of importance of national income in business economics.
b) Mention two methods to solve the basic problems of an economy.
c) What is meant by demand forecasting?
d) What happens to the price of the commodity when quantity demanded of a commodity is greater than its quantity supplied at a given price?
e) Mention two possibilities of price discrimination.
3. Answer any four of the following: 5×4=20
a) What are the characteristics of business economics?
b) Distinguish between accounting cost and economic cost.
c) Discuss the different types of production function.
d) Explain the concept of cross elasticity of demand.
e) Write a note on dumping.
4. Answer the following (within 600 words each):
a) What is price elasticity of demand? Discuss different kinds of price elasticity of demand. 4+6=10
b) What is cost function? Explain the cost output relation in short run.
Or
Explain the law of returns to scale. 10
c) What is monopolistic competition? Explain the price and output determination process under monopolistic competition. 4+6=10
Or
Discuss the differences between perfect competition and monopoly. 10
d) Discuss the marginal productivity theory of factor pricing. 10
Or
Explain Innovations theory of profit. 10
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Gauhati University Question Papers: Business Economics (May-June’ 2016)
Gauhati University Question Papers
BUSINESS ECONOMICS (May-June’ 2016)
Full Marks: 80
Time Allowed: 3 hours
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1×10=10
a) What is business economics?
b) Define demand.
c) What is marginal cost of production?
d) Define GDP at factor cost.
e) What do you mean by dumping?
f) What do you mean by marginal physical productivity of a factor?
g) What is shut-down point of a firm?
h) What is selling cost?
i) Draw a total fixed cost curve.
j) What is demand forecasting?
2. Answer in brief (within 30 words each): 2×5=10
a) What is production possibility curve?
b) State the determinants of demand.
c) What is excess capacity of a firm?
d) What is production function?
e) Give two differences between normal profit and supernormal profit.
3. Answer any four of the following: 5×4=20
a) Discuss the scope of Business economics.
b) Analyse the basic problems of an economy.
c) Discuss the main features of monopolistic competition.
d) Explain the cost-output relation in short run.
e) Analyse the different profit policies followed by public enterprises.
4. What is elasticity of demand? Discuss different methods of measurement of elasticity of demand. 2+8=10
Or
What do you mean by national income? How is it computed? 3+7=10
5. Explain the laws of returns to scale. 10
Or
Discuss the modern approach of cost. 10
6. What is perfect competition? Discuss price and output determination process under different market periods in perfectly competitive market. 2+8=10
Or
What are the characteristics of oligopoly? Determine price and output under oligopoly with the help of kinked demand curve model. 4+6=10
7. Explain the dynamic theory of profit. 10
Or
Profit is the reward for taking risk and bearing uncertainty. Explain. 10
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Gauhati University Question Papers: Business Economics (May-June’ 2017)
Gauhati University Question Paper
BUSINESS ECONOMICS (May-June’ 2017)
Full Marks: 80
Time Allowed: 3 hours
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. Answer the following questions: 1×10=10
a) Define Business Economics.
b) Mention one factor affecting the individual demand for a commodity.
c) What is equal-product curve?
d) What are the two components of Business Economics?
e) What is disposable income?
f) What is cost function?
g) Mention one characteristics of Monopoly Market which is not available in the Perfect Competition.
h) What is Marginal cost of product?
i) Name a commodity which has inelastic demand.
j) Define profit.
2. Answer in brief (within 30 words each): 2×5=10
a) Mention two characteristics of Business Economics.
b) Mention two main causes of arising economic problems.
c) What is normal price?
d) Define price elasticity of demand.
e) Generally the demand curve slopes downward from left to the right. Why?
3. Answer any four of the following: (within 200 words each) 5×4=20
a) Explain the scope of Business Economics.
b) Explain the factors affecting price elasticity of demand.
c) Explain the relationship between short-run average costs and short-run marginal costs.
d) Write a note on demand forecasting.
e) Explain the concept of cross-elasticity of demand.
f) Mention the assumptions of the Law of Diminishing Returns.
4. Answer the following questions (within 600 words each):
a) Explain the Laws of Returns to scale with the help of diagrams. 10
Or
Define national income. Discuss its importance in Business Economics. 3+7=10
b) What is price elasticity of demand? Explain the different methods of measurement of price elasticity of demand. 2+8=10
Or
What is Monopoly? Discuss the price and output determination under monopoly market. 2+8=10
c) How can LAC curve be derived from the SAC curve? Why is LAC curve U-shaped? 5+5=10
Or
What are the characteristics of Perfect Competition? How price and output is determined under perfect competition?
d) Critically discuss the Marginal Productivity Theory of Distribution. 7+3=10
Or
Critically discuss Schumpeter’s Innovation Theory of Profit. 7+3=10
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Last Words
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