Title 3140709 - PEM 2022S.pdf ✅

Seat No.: ________ Enrolment No.___________ GUJARAT TECHNOLOGICAL UNIVERSITY BE - SEMESTER–IV (NEW) EXAMINATION – SUMMER 2022 Subject Code:3140709 Date:04-07-2022 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) Explain macroeconomics and microeconomics 03 (b) Explain the theory of demand and supply 04 (c) Explain elasticity of demand and its types in detail 07 Q.2 (a) Define : (1) Fixed Cost (2) Sunk Cost (3) Opportunity Cost 03 (b) Explain factors of production in detail 04 (c) Explain break even analysis with suitable curve 07 OR (c) Explain Perfect Competition and Monopoly markets. 07 Q.3 (a) Define : (1) GDP (2) GNP (3) National Income 03 (b) Explain different types of Unemployment 04 (c) What is Fiscal Policy? Explain its objectives in detail 07 OR Q.3 (a) Define : (1) Money (2) CRR (3) Repo Rate 03 (b) Explain measures to control Inflation. 04 (c) What is RBI? Explain functions of RBI 07 Q.4 (a) Explain centralization and decentralization 03 (b) Difference between management and administration 04 (c) Which are the main functions of management? Explain importance of organizing in detail. 07 OR Q.4 (a) Difference between formal and informal organization 03 (b) Explain Maslow’s theory of human needs 04 (c) List various types of organization. Explain any one type in details 07 Q.5 (a) Explain internal and external environment of organization 03 (b) Explain various management skills 04 (c) What is CSR? Explain its importance. 07 OR Q.5 (a) Explain organizational culture and its importance 03 (b) Explain role of Managers 04 (c) What is business ethics? Explain importance of business ethics. 07 *************