NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Business Economics
Internal Assignment Applicable for April 2022 Examination
1. Mr. Shyam have been
appointed as a Business economics faculty in a reputed B School. Students are
inquisitive to know how this subject would help them in decision making to any
organization. Help Mr Shayam to highlight and elaborate on student’s
query. (10 Marks)
2. Complete the
hypothetical table below and explain in brief the law of variable proportions.
(10 Marks)
|
Quantity |
Total Product |
Average Product |
Marginal product |
|
1 |
10 |
||
|
2 |
30 |
||
|
3 |
48 |
||
|
4 |
56 |
||
|
5 |
56 |
||
|
6 |
52 |
3.a. Large-scale
production is considered economical in the sense of per unit cost. Explain the
statement by describing different types of economies of scale. Give examples to
substantiate your answer (5 Marks)
3.b. Highlight the
difference between shift and the movement in the demand curve (5 Marks)
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