30-09-2016, 02:31 PM
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1 Which of the following pairs of goods is an example of substitutes ( )
(a) Tea &sugar (b) tea & coffee
© Shirt & pant(d) car & petrol
2 when any Quantity can be sold at a given price and when there is no need to reduce price , the demand is said to be ( )
(a) Perfectly inelastic (b) perfectly elastic
(c ) relatively elastic (d) relatively inelastic
3 The demand is said to be relatively inelastic when the change in demand is________ the change in the price ( )
(a) More then (b) less then
(c ) equal to (d )not related to
4 If the income elasticity is positive and greater then one it is ( )
( a ) necessity (b ) inferior
( c ) normal good ( d) superior good
5 When a significant degree of change in price leads to little change in quantity demanded , then the demand said to be ( )
( a ) perfectly elastic ( b ) perfectly inelastic
( c)relatively elasic (d)relatively inelastic
6. if the prices rises,the demand ( )
(a)Rises (b)falls
©first falls & then rises (d) first rises & then falls
7.Price elasticity is always ( )
(a)positive (b)negative
©consistent (d) declining
8.The process of identifying,measuring&communicating economic information to permit informed judgements& decisions by the users of the information is called ( )
(a)auditing (b)cost accounting
©Accounting (d)management accounting
9.The moment transaction takes place in business,they are recorded in ( )
(a)ledger (b)trial balance
©Journal (d)final accounts
10.Which of the following involves “for every debit,there is a corresponding debit” ( )
(a)Single entry (b)ledger entry
©Journal entry (d)Double entry
11.The chronological order of recording financial transactions is called ( )
(a)Journal (b)ledger
©Trial balance (d)final account
12.The process of transferring the journal entries into various accounts is ( )
(a)Double entry (b)ledger
©Journal (d)balance sheet
13.A product or service is said to have demand when ( )
(a)the buyer has the desire (b)when the buyer does not have MONEY
©when the buyer is noy willing to pay for it
(d)when the buyer has the desire for the product or service and is capable of paying for it
14.Elasticity computed at a given point on the demand curve for an infinitesimal change in price is called( )
(a)unit elasticity (b)arc elasticity
©point elasticity (d)arc point elasticity
15.If the price is said to be inelastic then it means that the proportionate change in the quantity demanded is----- the proportionate change in the price
(a)equal (b)more
©less (d)double
16.Demand for petrol is
(a)elastic(b)inelastic
©perfectlyelastic(d)perfectlyin elastic
17.The price elasticity of demand is the rate of responsiveness in
(a)price to change in quantity demanded(b)quantity demanded to a change in price
©quality of a product to its corresponding price (d)quality demanded to a change in price of related goods
18.In which of the following cases does the total consumption expenditure increases?
(a)demand is unitary elastic & price rises (b))demand is elastic & price falls
©demand is inelastic & price rises (d)demand is inelastic & price rises
19.If the price of colgate toothpaste deceases relatively to the price of the closeup the demand for
(a)closeup decreases (b)closeup increases
©Demnd for closeup is not affected (d)Demnd for colgate increases
20.Point elasticity is useful when
(a)thepenstore is considering doubling the price of its pen(b)a hotel is considering lowering its coffee price by 25 percent
©a cycle manufacturer is interested in determining the response of customers to the price of scooters being lowered by Rs.2000
(d)The penstore is considering to reduce the price of its pen by 50 percent
Answer any 3 of the following questions
1.Define Managerial economics.Explain its nature & scope
2.Define the law of demand.what are its exceptions.explain
3.What do u understand by elasticity of demand?explain different types of elasticity of demand.
4.What do u understand by “demand forecasting”?explain different methods of demand forecasting?
5.(a)Explian accounting concepts
(b)Rules of accounting
6.Journalise the following transactions in the books of Madhu& prepare necessary ledger accounts
March 2016 1.Madhu commensed with Rs.15000
2.Paid into bank Rs.10000
3.Purchased goods from Mahesh for Rs.2000
4.Returned goods to Mahesh for Rs.200
5.Paid to Mahesh in full settlement of Rs.1700
7.Recievedintrest from the bank Rs.750
9.sold goods for cash Rs.7000
12.Sold goods to kiran Rs.4000
15.Received goods worth Rs.100 from kiran with a complaint about damage
16.paid salaries Rs.400
17.Entertainment Rs.50
20.Received a cheque from Don Rs500
25.Issued a cheque for Rs.100 towards rent