GUG/S/19/10651 1 P.T.O
B.Com. (Part-I) (C.B.C.S. Pattern) Sem-II
UCA2C04 - Business Economics-II
P. Pages : 3 GUG/S/19/10651
Time :Three Hours Max. Marks : 60
Notes : 1. All questions are compulsory.
2. All questions carry equal marks.
1. a) Define perfect competition. State the characteristic of perfect competition. 6
b) What is monopoly? Write its characteristic. 6
c) What is monopolistic competition? Explain with graph the price determination under
monopolistic competition in the short run.
2. a) Explain the concepts of Accounting cost & Economic cost. 6
b) What do you mean by fixed cost and variable cost. 6
c) Explain with graph 'Production cost of a firm? 12
3. a) Explain the concept of 'Quasi Rent'. 6
b) Write the factors of wages determination. 6
c) Explain in detail "Ricardian Theory of Rent". 12
4. a) What are the objectives of liquidity preference. 6
b) Explain the difference between Gross profit & Net profit. 6
c) Briefly explain the Schumpeter's Theory of profit innovation'. 12
5. Write in short brief.
a) Type of monopoly. 3
b) Average cost & marginal cost. 3
c) Types of Rent. 3
d) Insurable Risk & Non-Insurable risks. 3