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Customized assignments NMIMS
assignments September 2019
NMIMS Global Access School for
Continuing Education (NGA-SCE)
Course: Business
Economics
Internal Assignment Applicable for
September 2019 Examination
1. What is Demand forecasting?
Explain different qualitative methods of demand forecasting. State which of the
methods described is most suitable for forecasting the demand for “newspaper”
and why? (10
2. Complete the hypothetical
table below and explain in brief, the law of variable proportions.
|
Quantity
|
Total Product
|
Average Product
|
Marginal product
|
|
1
|
10
|
||
|
2
|
30
|
||
|
3
|
48
|
||
|
4
|
56
|
||
|
5
|
56
|
||
|
6
|
52
|
||
3. a. Explain the types of
elasticity of demand. Calculate elasticity of demand for the following data.
|
Price of Apple (Rs.)
|
Quantity demanded (KGs)
|
|
20
|
100
|
|
21
|
96
|
3. b. Distinguish between the
features of perfect competition and monopolistic competition. Give real world
examples of each of these types of markets.
(5 Marks)
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