Commerce Lab - Practical Question Bank
FACULTY OF COMMERCE, OSMANIA UNIVERSITY
---------------------------------------------------------------------------------B.Com (General & Computers) I Year W.E.F.2010-11
BUSINESS ECONOMICS
Time: 60 Minutes
Record
Skill Test
Total Marks
1
2
3
4
5
Prepare charts for the Micro Economics and Macro Economics.
Prepare charts for the Positive and Normative study.
Prepare charts for the Inductive and Deductive approaches.
Prepare charts for the Cardinal and Ordinal utility.
Prepare charts for the Economic and Non- Economic Activities.
6
Find out the Marginal utility, with the help of following information:
No. of Apples
1
2
3
4
5
6
Total utility
10
18
23
24
24
22
: 10
: 20
: 30
Marginal utility
7 Find the following information, find out total utility:
No. of Oranges
1
2
3
4
5
6
7
8
Marginal utility
40
35
20
10
-0-10
-20
With the help of following information, draw Total utility curve:
No. of units
1
2
3
4
5
6
7
8
9
Total utility
Total utility
20
38
53
64
70
70
62
46
Marginal utility
20
18
15
11
6
0
-8
-16
With the help of following information draw marginal utility curve.
No. of units
1
2
3
4
5
6
Total utility
10
18
23
25
25
22
Marginal utility
10
8
5
2
0
-3
1
10 Prepare market demand schedule with the help of following information:
Price of ‘x’ commodity Quantity demand of ‘x’ commodity
by Different consumer Market
A
B
C
10
5
1
0
8
7
2
1
6
10
4
2
4
13
7
3
2
17
10
4
11 Draw demand curve with the help of following demand schedule:
Price
1
2
3
4
5
Qd
50
40
30
20
10
12 From the following information calculate Elasticity of demand:
Price of Apples
Rs. 20 (P1)
Rs. 21 (P2)
Quantity demanded
100 kgs (Q1)
96 kgs (Q2 )
13 Fixed out the consumer’s Surplus
Price Prepared to pay for colour TV
Actual price paid
= Rs 12,000/= Rs. 10,000/-
14 Calculate the consumers surplus based on the Marginal utility table given below, where the
cost of each commodity is Rs.10/No. of units
1
2
3
4
5
6
15
16
17
18
19
20
21
MU
100
80
60
40
20
10
Price (Rs)
10
10
10
10
10
10
Consumer’s surplus
Prepare chart for distinguishing between Market demand and individual demand.
Draw a Demand curve for an inferior good.
Draw a Demand curve for a superior commodity.
Draw a Demand curve, when two goods are substitutes.
Draw a Demand curve, when two goods are complimentary.
Show increase and decrease in demand with the help of graph.
Show Extension and contraction in demand with the help of graph.
22 Draw supply curve with the help of following schedule
Price
(Rs)
20
30
40
50
Quantity supplied
(kgs)
100
120
135
145
23 Prepare charts for Short run cost curves.
24 Prepare charts for Revenue curves.
2
25 Prepare charts for Economics of Scale.
26 Prepare charts for short-run and long-run total and average costs.
27 Complete the following table:
Out put
1
2
3
4
TFC
120
120
120
120
TVC
50
90
120
160
TC
28 Calculate AC (Average cost) with the help of following information
Out put
1
2
3
4
TC
20
26
34
44
AC
MC
20
16
8
10
29 Complete the following table
Out put
1
2
3
4
5
Total cost
10
18
24
28
35
Average cost
10
9
8
7
7
Marginal cost
30 Calculate Total revenue, with the help of following information.
Units
1
2
3
4
5
6
7
Price
15
14
13
12
11
10
9
TR
31 Find out Marginal Revenue and average revenue with the help of following information
Units
1
2
3
4
5
Price
10
9
8
7
6
TR
10
18
24
28
30
AR
MR
32 Draw TFC curve with the help of following table:
Out put in Units
1
2
3
4
5
6
7
8
TFC
130
130
130
130
130
130
130
130
3
33 Complete the following table:
Labour
(Variable factor)
1
2
3
4
5
6
Total Product
(TP)
10
24
36
48
58
66
Average Product
(AP)
10
12
12
12
11.6
11
Marginal
Product (MP0)
34 Draw an imaginary long run Average cost curve
35 Complete the following table
Out put
1
2 20
36
37
38
39
40
41
42
43
44
45
TFC
20
18
TVE
10
38
TC
30
38
AFC
20
9
AVC
__
38
AC
30
8.0
3
20
24
44
--
8
44
6.0
4
20
30
50
5.0
--
50
6.0
MC
__
Prepare chart for distinguishing between perfect completion and monopoly completion.
Prepare chart for distinguishing between monopoly, monopolistic, and oligopoly completion.
Draw an imaginary kinked demand curve
Balance of Payments and Balance of Trade.
Prepare chart for Organisation of W.T.O
Prepare chart for distinguishing Balance of Payments and Balance of Trade.
Prepare chart for distinguishing between Socialism, Capitalism and Mixed Economy.
Prepare any Hypothetical Balance of Payments.
Draw a chart for trade cycles.
Prepare chart for distinguishing between Liberalization, Privatization and Globalization.
46 Fixed out NNP
GNP
Depreciation
= 2000 cr
= 500 cr
47 Estimate Per-capital income with the help of following information
National income
= 1000 cr.
Population of the country = 90 cr.
48 Calculate National income at factor cost, using the following data
NNP
Indirect Taxes
Subsidies
= 2000 cr
= 80 cr
= 40 cr.
49 Calculate disposable income, using following information
Personal
Personal
income
Taxes
= 50 cr
= 10.5 cr
50 Calculate personal income, using following information
Disposable income
Personal Taxes
= 40 cr
= 10 cr
*****
4