RTU Business Economics Question Paper 2026 [Rabindranath Tagore University BCom 1st Sem]

2024

BUSINESS ECONOMICS

(MULTIDISCIPLINARY)

Paper: 1.1, NEPN (Sem-I) MD-BEC-1-1

Full Marks: 45,Time: 2 hours

The figures in the margin indicate full marks for the questions.

1. Answer the following questions: 1 × 5 = 5

(a) Define business economics.

(b) Define demand function.

(c) What is cardinal utility?

(d) What is the marginal cost of production?

(e) What is the shape of indifference curve in case of perfect substitute goods?

2. Answer any five of the following questions: 2 × 5 = 10

(a) What is the production function?

(b) What is the marginal rate of substitution?

(c) Define opportunity cost.

(d) Mention any two determinants of supply of a good.

(e) What is a Giffen good?

(f) Why does the demand curve slope downward?

(g) Differentiate between short-run and long-run.

(h) What are marginal utility and total utility?

(i) Define market. Give one example of a perfectly competitive market.

1 + 1 = 2

(j) What is the selling cost?

3. Answer any two of the following: 5 × 2 = 10

(a) Discuss the key characteristics of business economics.

(b) Discuss the determinants of demand.

(c) Discuss the exceptional conditions of law of demand.

(d) Define price elasticity of demand. When price of a commodity falls from ₹20 to ₹15, its quantity demanded increases from 100 to 150 units. Calculate price elasticity of demand. 2 + 3 = 5

4. Answer any two of the following: 10 × 2 = 20

(a) Explain different types of demand.

(b) Define supply. Explain law of supply with the help of a diagram.

(c) What do you mean by imperfect competition? Explain the features of monopoly market. Give two examples of natural monopoly. 2 + 6 + 2 = 10

(d) Write short notes on the following: 5 + 5 = 10

(i) Static analysis of economics

(ii) Production possibility frontier

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