Title 3140709 - PEM 2023W.pdf ✅

1 Seat No.: ________ Enrolment No.___________ GUJARAT TECHNOLOGICAL UNIVERSITY BE - SEMESTER–IV (NEW) EXAMINATION – WINTER 2023 Subject Code:3140709 Date:24-01-2024 Subject Name: Principles of Economics and Management Time: 10:30 AM TO 01:00 PM Total Marks:70 Instructions: 1. Attempt all questions. 2. Make suitable assumptions wherever necessary. 3. Figures to the right indicate full marks. 4. Simple and non-programmable scientific calculators are allowed. Marks Q.1 (a) Define (1) Microeconomics (2) Macroeconomics (3) Law of demand 03 (b) Discuss elasticity of demand 04 (c) Draw diagram for equilibrium and explain its importance 07 Q.2 (a) Define break-even point and discuss its importance in business 03 (b) Explain factors of production in details 04 (c) Explain different types of costs in economics 07 OR (c) Discuss characteristics of Perfect Competition and Monopoly markets 07 Q.3 (a) Define : (1) GDP (2) National Income (3) Relative Poverty 03 (b) Discuss causes of Unemployment 04 (c) Explain objectives of fiscal policy 07 OR Q.3 (a) Define : (1) Bank Rate (2) Repo Rate (3) SLR 03 (b) Explain different types of Inflation in details 04 (c) Elaborate functions of Central bank of India 07 Q.4 (a) Explain different skills of Managers 03 (b) Explain Abraham Maslow’s theory of human needs 04 (c) Explain importance and characteristics of controlling in management 07 OR Q.4 (a) Explain different types of management levels 03 (b) Differentiate between management and administration 04 (c) Explain principles of scientific management given by Fredrick Winslow Taylor 07 Q.5 (a) Explain organizational culture and its importance 03 (b) Explain importance of staffing in detail 04 (c) Define business ethics and explain importance of ethics in business. 07 OR Q.5 (a) Discuss organization‘s environment in detail 03 (b) Explain centralization and decentralization in organization 04 (c) Define CSR. Give any suitable examples of CSR activities in India 07 *************