ANU B.Com 2nd Sem Business Economics-II Important Questions

ANU B.Com 2nd Sem Business Economics-II Important Questions are now available. Here are the important questions prepared by top examiners of acharya nagarjuna university. By reading this questions you can get maximum 70 out of 75 marks in your external exams.

UNIT-I ( Production and Cost)

1. Explain the internal and external economics.
2. What is production function? Explain COBB-DOUGLAS production function.[ANU 17,19]
3. Write about the economies and diseconomies of scale of production.[ANU 2017,16,19]
4. Explain the law of variable proportions with limitations.
5. Explain the law if variable proportions with practical importance.[ANU 2017,19] 
6. Explain the concept of maximisation of profits.
7. What is mean by return to scale? How many types of return to scale exist?
8. Describe the "Economies of Scale" of large scale production.
9. Diagrammatically explain short run and long run cost curves.
10. What is national income? Explain the various concepts of national income.
11. State and explain the marginal productivity theory of distribution.
12. How can a firm attains maximisation output and profit with minimization of cost.[ANU 2016]

UNIT-II ( Market Structure-I)

1. Explain the features of perfect competition and price determination under perfect competitive market.[ANU 17,16]
2. Define and distinguish between perfect competitive market and monopoly market.  
3. How is price determined under perfect competition?[ANU 19]
4. What are the characteristics of monopoly? How is price output determined under monopoly.[ANU 19]
5. Differentiate monopoly and monopolistic competitions.
6. Explain the equilibrium of firm under perfect competition.
7. Discuss the price determination of a monopoly firm.[ANU 17,16]

UNIT-III ( Market Structure-II)

1. Define Oligopoly. Explain the features of Oligopoly market.
2. Critically examine the marginal production theory of distribution. [ANU 19,17,16]
3. How price determination under the condition of monopolistic competition. [ANU 19,17,16]
4. How is group equilibrium attained under monopolistic competition.
5. Describe the equilibrium of firm under monopolistic competition.
6. Explain the features, price and output determination with kinky demand curve in Oligopoly market.
7. Define the monopolistic competition. Explain the features of monopolistic competition.
8. Explain about the short period equilibrium and long period equilibrium of a firm under monopolistic competition.

UNIT-IV ( National Income and Economics System)

1. Define national income and explain the methods to measure national income. [ANU 19,17,16]
2. Explain the process of measurement of National Income.
3. Explain the concept of national income.
4. Explain the characteristics of mixed market.
5. What are the merits and demerits of socialism? [ANU 19,17]
6. Describe the features of socialist economy.
7. Explain the merits and demerits of mixed economy.[ANU 16]
8. What are the features of mixed economy system.
9. " Mixed economy eliminates the defects of both capitalism and socialism" Explain.
10. " Mixed economy is judicious combination of capitalism and socialism" discuss.

UNIT-V (Structural Reform)

1. Describe briefly about the economic liberalisation, privatisation and Globalization.[ANU 19]
2. Explain the significance of international trade in the Indian economy.[ANU 19]
3. Explain the advantages and disadvantages of International Trade. [ANU 17]
4. Explain various phases of trade cycles.[ANU 17]
5. Causes and measures to control trade cycles.[ANU 16]
6. W.T.O Agreements. [ANU 16]
7. Explain the role of W.T.O in promoting international Trade.
8. Explain the objectives of World Trade Organization.
9. Difference between national income and international trade.
10. Define Business cycle. Explain the various phases in business cycles.

Short Answer Questions:

1. Cobb-Douglas production function. [ANU 19,17,16]
2. Features of perfect competition market.[ANU 16]
3. Characteristics of perfect competition. [ANU 19]
4. Personal distribution and functional distribution. [ANU 19]
5. Gross national product. [ANU 19]
6. Features of mixed economic system. [ANU 19]
7. Balance of trade and balance of payments. [ANU 19,17]
8. Objectives of WTO [ANU 19,16]
9. Characteristics of monopolistic competition. [ANU 17]
10. Kink demand curve under Oligopoly. [ANU 17,16]
11. Causes for increasing returns to scale. [ANU 17]
12. Features of mixed economy.[ANU 17]
13. Factors influencing Globalization.[ANU 17] 
14. Characteristics of Oligopoly.[ANU 17]
15. Difference between perfect competition and monopoly.[ANU 16]
16. Economics of scale of production.[ANU 16]

Other some short questions you must read:

1. Oligopoly.
2. WTO Functions.
3. Explain the classification of markets.
4. Explain fee trade economy.
5. Define the distribution. Explain the concepts.
6. Explain the classification of costs in economics.
7. Techniques of maximisation of output.
8. Characteristics of perfect competition.
9. Defects of monopoly market.
10. Selling costs..
11. Personal income.
12. Problems of national income.
13. Production function.
14. Features of monopoly.
15. Cost control techniques.
16. Defect of Monopoly.
17. Kinds of demand curve.
18. Fiscal Deficit.
19. Socialism.